With short-term, unsecured loans, you borrow a specific amount of money and pay it back over a set term. Your loan approval amounts are based on your cash flow and the gross deposits of your business checking account. Whereas secured business loans are taken against a borrower’s assets, unsecured business loans require no collateral. Because the lender takes on greater risk, unsecured business loans often come with higher interest rates than secured ones do, and you will typically repay the loan faster. The term lengths of short-term loans range from 3-18 months, and payments are fixed daily until the loan is fully repaid. We’ll set up a fixed deduction amount based on the historical sales of the business. The daily amount withdrawn is fixed, not the percentage of revenue. This program is ideal for business owners who don’t use credit card transactions or who don’t have merchant accounts. With our short-term, unsecured loan program, we make simple, direct bank-to-bank electronic transfers to provide your business funds quickly, and you don’t have to worry about missing a payment.
Fast Simple Small Business Loans
As a small business owner, there are plenty of strategies that you can implement to grow and expand your business—like boost marketing, invest in equipment, build your website, hire more employees, or stock up on inventory. However, all of these things require capital, and most small businesses do not always have enough cash on hand to take advantage of the opportunities to accelerate your sales and growth. To make matters worse, banks are not lending to businesses like they once did so we understand that getting a small business loan can be daunting. It takes a lot of time, hassle, and paperwork. What’s even more frustrating for many business owners is that it usually takes weeks to get a response. When they finally get a decision from the bank, often times the answer is a NO. At ROI Business Funding, we understand that all businesses need capital to grow. When small businesses get turned down by banks, we step in and help them find alternative ways to get the capital they need.