It is not uncommon for business owners to require financial help in order to turn their entrepreneurial dreams into reality or to keep an existing company growing or afloat. If you need money to purchase necessary equipment, fund marketing campaigns or cover your payroll, it may be beneficial to take out a small-business loan using your home equity. A small-business loan is not the same as other types of loans, and it’s important to understand how the different loans work before you decide to apply for one.
Many of our customers find that a home equity loan is the cheapest way to finance and fund their business needs.
Often times, the application for a small-business loan through a bank or another institutional lender can be a draining process. It may seem that there is almost an endless amount of information the lender may require from you to even begin your application process without any guarantee of approval. This is why many homeowners choose to apply for a home equity loan to fund a business that they own. The process is simple and in some cases the borrower can receive their loan funds in as little as 48 hours.
Quick and easy application process– Banks require verification of all your credentials and details about the business before sanctioning a loan. For a home equity loan the lenders are mostly interested in the value and equity available in your home or property. They are typically not concerned with the details of your business.
Homeowners get approved – As long as you own a home, have enough equity in your home for the loan amount required, and are able to make the repayment obligations, you are more likely to get approved.
Entire amount granted– Banks are known for not agreeing to grant the whole amount requested for a loan. They usually grant only 70% or 80 % of the sum applied for. With a home equity loan you can get up to 80% and in some cases even 90% of the value of your home or property as a loan!
Get approved for a Home Equity Loan to help finance your business today!
*Rates start as low as 5.59%
*Rates are subject to change. Terms and conditions may apply.
We pride ourselves on quick, easy & honest service. Our clients always come first.
We specialize in dealing with bad credit & bank declines. We turn a “no” into a “YES!”
*No credit checks. No complicated application and no income required!
*Terms & conditions may apply.