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Business loan secrets the banks are hiding from you

What are the business loan secrets banks are hiding?


Business Secrets Banks Are Hiding

A business loan is hard to get.

Fast loans for business cash are even more difficult.

Unless you’re Howard Shultz (CEO of Starbucks), the business bank manager already decided before you walked in that you’re not getting a small business loan for your dream latte café on the corner of Main and Fifth.

But I bet you didn’t need me to tell you that?

Did I?

The Truth About Getting a Small Business Loan

A working capital loan is fast and easy if you know where to go. Securing a fast business loan today is possible. It’s a solution that helps you do many things.

Fast cash for your immediate business needs

Your bakery opens in 2 hours, and your main oven just broke for the third time. It could be a chance to score a good deal on new equipment.

It’s Tuesday, and you realize this week’s payroll is going to be tight. Are you eligible for a payroll loan?

Your favorite vendor just popped in to tell you that if you can buy more inventory this week, you can pick up another 20% discount for your ecommerce business.

But you must do it this week.

Fast Cash for a Business Opportunity

Fast Cash for BizOp

Perhaps there is an incredible opportunity to buy out a competitor. Maybe that competitor is liquidating. This opportunity is the perfect time to scoop up his inventory, assets, or clients. You have a real chance for some major growth or expansion. Unless you have a secret bank account, you need the money now.

The History of Fast Loans

The idea of business loans online is a relatively new concept. In the not too distant past, it was possible to call your local bank or credit union to secure a bank loan or a business line of credit with just a phone call and a signature at a great interest rate. Many small business owners until ten years ago, would look to the equity in their home.

They either tapped their savings account, called a mortgage broker, and re-mortgaged their home, or used a HELOC loan (home equity line of credit) to help them manage their business cash flow.

The Evolution of the Fast Small Business Loan

After the worst recession since the great depression, fast, small business loans were born. Business in today’s world is 24/7. Things happen with lightning speed. Business owners can no longer wait weeks and sometimes months to get approved for a loan. The thought of applying to the bank and filling out a loan application for a small business loan virtually ended. Banks abandoned the small business loan markets.

In record numbers, banks across the country were pulling out of the lending business, and specifically, they stopped originating small business loans. To date few if any have returned.

That’s why top online lenders stepped in to fill the gap. A new era of fast loan lenders entered the market. Initially, online small business loans and lenders were the exceptions. Today they are the “new” new!

The best alternative lenders recognized that business owners couldn’t afford to wait 90 days for a loan approval. They all know that most unsecured business loan applications get declined by the banks. Why is that?

Banks Are Running Scared

Since the great recession of the mid-2000s, the banks and the traditional financial institution are scared.

Their capital requirements are high, and their returns are low. As a result, the risk to lend you the money is too great. The result is that banks make it difficult for businesses to secure a financing option.

Here is how they raised the bar. You need a high FICO score generally around 720 or better. You need to post assets or collateral plus have a checking account with a minimum balance. Oh, and did we mention you need to provide a year or two of bank statements, tax returns, plus a slew of financial statements?

Bet you didn’t realize that the banks require approximately $3 in cash or an equivalent asset for every one dollar you wanted to borrow? The loan program most banks offer wants real estate as the collateral.

On top of that, each equity partner in your business must have a high credit score. Plus, they must collateralize and guarantee the loan – personally. Let’s say one of your partners refuses to put up that PG. This refusal leads to the whole deal falling apart. That is not the case with unsecured loans from an alternative lender.

If your credit is not “bankable,” that’s OK.

Why Fast Unsecured Business Loans Are the Secret Ingredient

Who says you can’t get approved today and get funded tomorrow? The fintech industry took the business bank model and shook it up and then turned it upside down. After that, they dropped it to the floor and kicked it out the door. It’s broken, and it doesn’t work. Everyone knows that.

Technology removed all the unpleasant experiences of a traditional bank business loan. What that means to you are several things. First, most loan companies genuinely want to help you find a way to grow or expand your business. On huge change is not relying solely on the creditworthiness of the borrower.

Instead of reporting the loan on the personal credit report, it shifts it to the business credit report (where it naturally belongs). Shifting the owner of the debt from your social security number to your EIN reduces your credit utilization. In turn that helps you improve your credit score. In turn that enables you to get more favorable rates on other items, you need to finance like mortgages, credit cards, and auto loans.

Bad Credit Business Loans

Is Your Business Facing a Dilemma? Do you have an incredible opportunity, but you lack the cash to take advantage of it? Are your sales slipping and you’re scrambling to make payroll?

Whatever the case, you shouldn’t have to jump through a bunch of hoops or wait for weeks to get relief. No need for embarrassment. If your credit is dinged up, you’re in good company.

You are the owner of a business. Most online lenders understand. Getting a business loan couldn’t be easier

Apply for Fast Small Business Loans Today

Being short of cash as a small business owner is profoundly stressful. Working with one of the top business loan lenders that get how small businesses work means a hassle and stress-free experience. How to Get More Out of

Your Fast Business Loans

Whenever a small business owner realizes, “I need a business loan, and I need it fast,” they often turn to traditional banks and lenders. In many cases, they come away very disappointed. For one thing, banks have overwhelmingly moved away from lending to small businesses, so most are denied.

Then there’s the fact that processing a traditional loan can take upwards of 90 days. Waiting that long for cash isn’t an option most of the time. Working with an online lender usually means submitting a one-page loan application, a few months’ bank statements and that’s it. Many of today’s lenders can get you a very competitive interest rate. The best part is that they are not a secured loan and don’t require a traditional personal guarantee. If you are looking for business financing for any reason, you can Click Here for help.

A Leader in Business Lending

Every business owner brings a unique set of circumstances. Understanding the needs of business owners like you is critical to everyone’s success. To seize that great opportunity, pay that past-due tax bill, or handle any number of situations, there isn’t usually time to wait around. Most of the online alternative lenders designed their fast business loans to be as convenient and straightforward as possible.

Loans are approved quickly – typically within 24 hours. Same-day and next-day loans are also available, so there’s no need to jump through a ton of hoops to get the cash that you need.

Cheap Business Loans 

How we see it, obtaining a business loan shouldn’t be a huge ordeal. Looking online for a loan means getting a streamlined fast loan process to make it quick, convenient, and trouble-free. Most lenders can get you more if you have a few more days.

How often do you think, “Hey, I need a business loan fast?” Our advice is not to go to the nearest bank unless you are 100% positive that they will fund your business. Don’t call around to traditional lenders. Talk to the lenders online. You’ll be pleasantly surprised. CALL 888.456.9223

Small Business Loans Fast

Every established company should be able to generate revenue. This revenue must cover all the costs of daily operations. Plus, the net income must offer a good profit margin. However, your business profit is not only the reason the business thrives.

It continues to do well because of how you manage the business finances. But what happens when the private funds, otherwise known as your cash flow, are not enough to grow your business? What happens when there is a tremendous opportunity for growth or expansion?

How do you finance that growth or development from your current cash flow, especially when you know you have the ROI or Return on Investment? Unfortunately, you don’t! These opportunities are the time when cheap business loans make economic sense.

There are plenty of small business lenders. Banks, credit card companies, government agencies, and other financial institutions all provide small business loans. Each of these lenders has their specific terms as to when, how, why, and to whom they extend credit.

The standard qualifications they usually require include the so-called 4 “C’s” of credit, which pertains to the borrower‘s character, capital, capacity, collateral, and conditions. This qualification process means you will need to go through a lot of paperwork and processing time.

While these institutions are busy evaluating your “C’s,” the only C that waiting brings your business is the ‘Cost of a lost opportunity.’ Getting a loan that provides you with working capital shouldn’t be a challenge, even if you don’t have perfect credit. Unfortunately, not all business lenders have the right focus.

Not all lenders have the right understanding. A company requiring a business loan to raise capital starts with choosing the right business lender. The right lending partner is not the one that limits your access to working capital. Growing your business should not stop or confine itself to conventional thinking. The right business lender will make a company loan possible.

The traditional bank or lending institution will focus only on those 4 “C’s.” The forward-thinking business lenders offering alternative business loans know there’s a small business loan appropriate for every business. Regardless of its size, nature, and structure.

You have the:

Business Loans for Business

Your company will benefit from the liquidity and availability of funds, which a commercial loan can give. Some companies even consider it more beneficial to be highly leveraged. There are those companies that have more debt than equity.

One advantage of taking a loan is that interest payments are tax-deductible. Also, at times when interest rates are low, it can bring in a higher return. To be considered the best place for small business loans is important. Why? Because, as a borrower, the solution should complement your needs.

When everyone seems to be offering the same thing, the one that truly listens makes the experience of getting a loan worthwhile. And what makes it useful is an approved loan.

At Sunwise Capital we are business owners that have walked in your shoes. That’s why we look for a long-term relationship. We also ensure that when you return, we give you more money with better rates and terms.

Growing your business is no longer just a dream – it is possible. When self-funding is not enough, you don’t have to fret because small business loans are available. Choose the best loan lender. Choose Sunwise Capital. Working with the right people will get you to the right place in no time.

Get the best business loan in minutes with Sunwise Capital. Call 888.456.9223.

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Mark J. Kane, Founder & CEO of Sunwise Capital, is a distinguished entrepreneur with over 16 years in business financing. Beginning as a psychologist, he quickly became a trailblazing Hospital Administrator. Mark has built multiple ventures, notably accelerating a startup to $18M within months. His transition to Sunwise Capital stems from a deep-seated desire to empower business owners with strategic financial solutions. Recognized for his expertise, Mark's leadership at Sunwise Capital reflects his commitment to fostering business growth and success. about the author.

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