It is that old catch 22 situation we all know so well, with no bank prepared to lend money to a new venture, as it has no financial track record. With the best will in the world, a traditional bank would not get past the initial stages if the business doesn’t have at least 2 years of accounts to show, and without that essential injection of funds, the new enterprise is doomed before it even gets off the ground. This is a scenario that many young entrepreneurs have had to face, yet with modern online financing, everything is possible.
Online Business Loans
You no longer have to face a panel of business experts at the bank, as there are online providers of startup business loans in Australia, and with a really simple and straightforward process, you can quickly discover whether or not your loan application would be approved. In the likely event it is, then all you have to do is submit the required documentation, and the funds will be transferred to your account, usually within the same working day.
If you do have the required business accounts, as your business is yet to trade, it is still possible to obtain an unsecured business loan, and with each application taken on its own merits, the end result is very often an approval.
Flexible Payment Plans
The lender has no desire to put your business under unnecessary stress by demanding unrealistic payments, and with the ability to defer, the loan would be very flexible, and if you wanted to pay it off ahead of schedule, it would certainly save you some money.
Three Step Process
The online application process for a business loan is really very simple, the first step is to make an online business loan application, and within a few minutes, your application will either be approved or rejected. Step two involves sending the lender the required documents for verification, and the final step is the money arriving in your account. It is really is as easy as that, and very often, the entire process can be completed in a single working day.
No Securities Required
Of course, most lending institutions will lend to a person who has assets that they are prepared to lodge as security, but a new business is less likely to have assets that are not already tied up. An unsecured business loan might sound unrealistic, yet there are finance companies who will facilitate this. Without the helping hand of an understanding lender, many small businesses would never have made it off the ground, and with flexible, low repayments, the business will not be burdened with having to make high monthly payments.
If you know where to look, there are opportunities for new business funding, and the Internet is the ideal tool to source such a company, and with everything handled online, you don’t even have to leave the comfort of your office.