For business owners, the temptation to expand and grow with the use of easy financing through unsecured loans can pose risks. It is easy to bite off more than one can chew. The result is a debt trap. Some lenders can offer prompt unsecured funding but they may be quite rigorous in recovery without considering that the business is temporary slowed down and this puts the owner of the business in a difficult situation.
Before one applies for unsecured
business loans or merchant cash advances it is better to assess the
situation and determine requirements. Opting for a smaller amount means a
reduced burden when it comes to repayment. Lenders differ. Some are
strict and will insist on agreed upon repayment schedule. Other sources
of business loans, such as an unsecured business loan by wscapnow.com,
can be more understanding and will offer customized, flexible terms.
Wscapnow thrives by being customer friendly and by tailoring unsecured
loans for businesses to ensure not only survival but also growth. A
borrower is likely to return and borrow more if he prospers.
Applying for unsecured loans for business purposes is a simple enough matter with wscapnow.com. It can be done online.
The process would be like this:
- The Borrower must find out how much he is eligible for. Typically, the unsecured loan amount will be about 50% to 200% of the monthly sales revenue.
- Eligibility norms are simple. The Borrower must already have a running business in existence since 6 months with a gross monthly sale of $ 10000. He must furnish bank statements and proof of identity and residence along with the application form and a credit/debit card processing statement. Wscapnow may ask for a personal guarantee, avoided the check and proof of ownership of business. Borrowers need not have a good credit history.
- Borrowers can submit applications online and wait for the verification process which happens in a day. Once the application is approved the funds are disbursed within three business days. The Amount is credited to the borrower’s bank account and repayments, as agreed are automatically linked to the account.
- Borrowers can agree to repayment plan linked to a percentage of daily sales or a fixed amount to be repaid each day regardless of sales amount.
Such loans are available with least hassles
and help businesses in a variety of situations. An enterprise may need
funds for buying new equipment, to pay salaries to staff when their
funds are blocked for some reason or the other, stock up on inventory
available at bargain prices or to pay new vendors.
Opting for a business loan should be a well-considered decision based on the assessment of capacity to repay otherwise borrowers may find themselves in a debt trap. Wscapnow always recommends that borrowers base their decision on a careful analysis of their present and future cash flows. With the right calculation, a business owner may use the funds to achieve higher sales and profits and then he should find no difficulty in repaying the amount.
For more details contact us, email us info@wscapnow.com or call us: +1-800-589-4161.
Blog Source: http://www.wscapnow.com/blog/
