Even with no collateral, business owners are able to access funding quicker and easier than ever.
With limited access to capital businesses fail. According to the National Federation of Independent Businesses optimism among small business owners declined last month. Economists suggest that small business owners confidence about their financial situations played a significant role in low business owner optimism. Declines in job openings, inventory, and investments. Many business owners have no collateral, and therefor experience difficulty accessing funding options.
The Silver Rock Funding team has plenty of funding options for business owners. Loans with no collateral allow business owners who might have steady clientele, but lack of capital to operate successfully.
How to Get Funding With No Collateral
A business cash advance allows business owners to receive the funding that they need with no collateral.
A business cash advance, sometimes called a Merchant Cash Advance, is a relatively new funding solution that works for the modern business. Merchant cash advances were birthed out of the needs of business owners who accepted credit cards and could prove income, but were denied by banks.
Merchant cash advances are funding solutions that credit your business bank account a pre-determined amount of money. When it is time to return the money, there will be no headache. Funding is returned as a small percentage of daily credit card receipts.
So, when it is time to pay off your loan, merchant cash advances make things simple. No need to remember due dates or struggle for cash to make payments. Silver Rock Funding can connect business owners in 99% of industrieswith funding.
What Is Asset Based Financing?
Asset based financing is a secure funding solution for business owners.This funding option is a form of financing secured by a company’s assets, which are used as collateral.
Many business owners may have exhausted their borrowing limits with banks and creditors. For those entrepreneurs, asset based financing is essential. If an entrepreneur has merchandise, inventory, or any other assets, these can be used as collateral for funding.
If your business simply has no callateral to offer in order to receive funding, Silver Rock Funding can help. Our team of private lenders can get you yup to $500,000.