How Unsecured Business Loans Help in the Success Path For Your Business?

The small business category in the US is flourishing and it is due to the availability of funding from sources other than banks. Retailers, shop owners, restaurant owners, professionals, small industry owners and service providers can expand and grow thanks to funds they can lay hands on at short notice.

Finance is the lifeblood of business and unsecured business loans are the new mantra for small business owners across the States. Getting an unsecured business loan is easy these days even though it may be expensive. It is fast and the process entails submission of only a few basic documents. If a service provider, for instance, has plans to expand, recruit new staff or introduce new offerings and launch marketing campaigns, he can approach a lender like Wscapnow.com with a solid proposal and access funds in less than a week. Professionals like doctors and chartered accountants can renovate their premises or move into new premises without the hassle of having to submit personal guarantees or collateral. Retailers, restaurant owners and hoteliers may wish to buy new equipment, modernize, pay off vendors or pay salaries while their incoming funds are delayed. They may wish to launch promotions. In all such instances, access to immediate funds is what helps drive growth in their business. It helps such small business owners grab business opportunities and capitalize. They are just as useful when it comes to expanding or embarking on new projects and diversifying.

While there are disadvantages to such type of finances, the benefits of this small business loan far outweigh the downsides provided a small business owner has a solid plan to utilize funds to increase revenues. One of the greatest benefits is speed. Whereas banks may have an involved process, small business finance lenders usually offer finances within a week. If speed is important, documentation is another important area since the borrower needs to furnish only proof of identity, ownership of the business, residence and bank statements. Submitting a business proposal helps to convince lenders about viability and repayment capability. Of even more importance is the benefit that small business owners need not mortgage their house or assets. Service providers may not even have any worthwhile assets to offer as collateral. In such cases, unsecured financing is the best option.

These loans are available for the asking for any business that is in operation for at least a year and shows a healthy turnover. One can access up to $ 200000 at short notice. However, it is a smart idea to first prepare a project plan on the utilization of funds to actually grow the business by diversifying, expanding, renovating existing premises or any such activity that would result in increased revenues. Water Street Capital is one of the prime sources of small business funding at low rates and they assist not only with funding but also consulting to help business owners thrive and go up to the next level. Smart businessmen are not content with simply running the day to day operations; they are on the lookout for opportunities to expand and unsecured loans are the easiest sources of funding they can leverage.

Apply now to water street capital. Just fill in the form online and initiate the process or you can check the PDF form. For more details contact us, email us info@wscapnow.com or call us: +1-800-589-4161.

Read More

Top 5 Tips For Merchant Cash Advance Loans

Merchant cash advance or MCA, as it is known, is so easy that any businessman can fall into a trap if he is not smart enough. If one knows how and finds the right source, it can be a tool for growth but if one ends up with a crooked lender, the borrower lands in a debt trap. Here are five tips to keep in mind when one considers merchant cash advance.

Avoid hawks

Merchant cash advance loans are unsecured and this means there are hawks out there who milk a client for all he is worth. Avoid such lenders who insist on supplemental fees and application fees. Avoid lenders who charge a high rate of interest that can be as high as 50% APR. Select only respected, well-known lenders like wscapnow.com whose dealings are transparent.

Check contract terms carefully and check the lender online

Just because money is needed badly it does not mean a merchant should settle for the first MCA he comes across. It is in his interest to research the lender and find out his reputation online through testimonials. The contract or agreement too needs to be examined in detail before signing because there may be hidden clauses that ultimately result in the borrower paying more than he expected. Before merchants apply for merchant cash advance they should check the offer terms and make sure they qualify. Once they do, then it is better to initiate the online process for fast process and disbursal. If there are doubts, the merchant should always call, get clarifications and get them in writing. It is wise to not rely on verbal assurances and be very specific about each clause of the contract.

Plan a strategy before seeking MCA

 Just because MCA is available so easily it does not mean a merchant can get the money and spend it on vacations or to pay college fees. While lenders typically do not ask the purpose for which a loan is sought, it is for the borrower to have a plan in place to make good use of the money to grow their revenues. This way they see an increase in revenues and repayment is no problem even if it is tied to credit card sales. In fact, if sales increase the amount is repaid in a shorter time and the merchant can go in for another loan to grow his business.

Borrow least and avoid the debt trap

 MCAs can be deadly debt traps for businessmen who opt for such funding without much planning. They may borrow to repay a debt and fall into the debt trap. It is wiser to plan for best use of funds and borrow the least amount so that daily cash flow is not affected. Remember, repayment of MCA is usually linked to daily credit card sales. If one borrows more, the daily outgo is more.

Compare rates and get all clarifications

 It takes time and effort but it is worth it as one will get the lowest rate and make sure there are no unpleasant surprises.

Source Blog -https://wscapnow.wordpress.com/2017/07/06/top-5-tips-for-merchant-cash-advance-loans/

Read More

Why Unsecured Business Funding Loan Is the Best Option for Small Business ?

The success of a small business depends on the fine management of cash flows and leveraging funding to grow. Business owners must know the fine art of being able to access funds as and when required. This way they do not face cash crunch issues and their business run smoothly. Take for instance a retail shop. If the owner faces difficulties and does not stock merchandise or closes shop for even a brief period his customers go elsewhere and it will be difficult to get them back. If he had access to funds when needed he would be in that situation.

Regular channels of loans are out of consideration when speed is important. Banks take a month or even more to process applications and ask for collateral that a business owner may not be able to furnish. He has to furnish the purpose for which a loan is required. Even if has property to mortgage it is not a wise step because of the uncertainties of the business funding loan is the best even if it is expensive. How expensive? Interest on secured loans can have APR as low as 4.9% whereas APR for unsecured funding can be anywhere from 20% to 100% depending on the lender and how they assess the risk of the borrower and his repayment capability. Some lenders make it even more expensive by charging upfront processing fees that can be about 2% of the loan amount. Some, like wscapnow.com waive processing fees altogether and charge a reasonable APR.

Unsecured funding is the best option for small businesses for several reasons. A borrower does not need to define the purpose for which he wants the loan. He does not need to furnish security or collateral and documentation is limited to proof of residence, proof of identity, proof of ownership of business and bank statements. Best of all, the loan is disbursed within a week of initiating the process online. However, one should be careful and choose unsecured business fundingafter taking into account:

• Rate of interest – a reasonable rate such as 20% is acceptable

• Waiver of upfront processing fees

• Flexible repayment schedule that can be fixed between one to three years

It is best to avoid lenders who ask for upfront processing fees and charge a high interest rate. Some smart lenders will not define the rate precisely in advance and will indicate it only after a person has accepted the loan and the rate is usually high. Some lenders may link repayment to card sales and this may work in their favour but to the disadvantage of the borrower who has no way of knowing how much he will end up paying by way of interest. If sales are low, repayment is spread over a longer period with a higher amount paid as interest. It is better to opt for lenders who offer flexible 1 to 3 years repayment schedule on a monthly payment basis. With the right lender like wscapnow.com by his side, a businessman need not fear cash crunches. With proper planning, he can use unsecured funds as a way to grow.

Apply now to water street capital. Just fill in the form online and initiate the process or you can check the PDF form. For more details contact us, email us info@wscapnow.com or call us: +1-800-589-4161.

Blog source -http://www.wscapnow.com/blog/why-unsecured-business-funding-loan-is-the-best-option-for-small-business/

Read More

Why Small Business Loan is Very Important for Small Businessmen?

Not all small businessmen have loads of cash to invest in a business and still more cash to keep it running. In the majority of cases, they have already invested whatever they possessed to start a business. Along the way, they experience a shortage of funds and this is when their minds turn to obtaining loans.

Small business loans are very important for small business owners. From one perspective it is necessary to keep small businesses flourishing so that they can provide jobs to millions of people and help the nation’s economy. From the business owner’s perspective, it is necessary to be able to lay hands on cash with the least hassle and quickly too. There are occasions when one does need cash. It may be a retail store owner, a pharmacy owner, a restaurant owner, a professional or a small industry owner.

The occasions vary. It may happen that payments are not received on time but one has to keep commitments such as payment to vendors and salaries to staff members. A business owner may wish to launch a sales campaign to take advantage of the festive season. A retailer may wish to give his store a makeover or expand it or buy new equipment that will result in increased revenues. An industrialist may receive a large order and may need cash to purchase raw materials. A doctor may wish to buy new equipment. Restaurant owners may wish to modernize. For all these occasions it is important that the owner is able to access sources of funds. Loans are important for their survival and growth.

Banks have a rigorous process when it comes to loans for small businesses. Alternative lenders are better when one wants money quickly and with least documentation. Most such lenders operate online and it is easy to apply as well as get business funds through the online process.

How to apply for a small business loan online?

While one may go in for loans to pay off debts, it is better to take loans as an instrument to increase business and generate revenues. Therefore, before commencing the online process a businessman needs to prepare a solid plan for utilization of loan amount for a growth of revenues. This done he must spend time in researching lenders. This is important because terms vary. Some lenders charge a heavy upfront processing fee and levy a high rate of interest. Interest can be as high as 50% or even more if it is an unsecured loan which is the usual type of loan a businessman goes in for if he wants money in a short time. The repayment time may be short. All these factors combine to impose a heavy burden and make it difficult for a business to carry on. Then there are small business loans online from lenders like wscapnow.com. Some of the best loans are available on the most flexible terms. For instance, a small businessman need not pay upfront processing fees. The rate of interest is reasonable at around 20%. Best of all repayment is flexible. Borrowers can expect a schedule of 1 year to 3 years, which means they pay a small amount each month and the money comes from increased revenues so their cash flow is not affected. They grow and prosper with the help of loans.

Apply now to water street capital. Just fill in the form online and initiate the process or you can check the PDF form. For more details contact us, email us info@wscapnow.com or call us: +1-800-589-4161.

Blog resource - http://www.wscapnow.com/blog/why-small-business-loan-is-very-important-for-small-businessmen/

Read More