Unsecured business loans give you access to working capital when you have fewer assets to put up as collateral.

In recent years, unsecured business loans have become popular among modern entrepreneurs. As many businesses operate out of homes and via websites, traditional funding solutions don’t seem to fit.

Last year, when the owners of a midwest consulting firm reached out to us, they knew that their chances of getting funded were slim.

When businesses have no real estate, minimal merchandise, or other assets, accessing business loans becomes extremely difficult. That’s why a growing number of consumers look to alternative lenders for the money that they need.

Unsecured Business Loans Through Alternative Lenders 

Business (or Merchant) cash advances involves business owners receiving funding but repaying the balance of the loan with their credit card receipts. Lenders take a fragment from the company’s income daily until the balance of the loan is repaid.

Merchant cash advances tend to be more appropriate for businesses with fewer assets. Many small businesses have limited assets, but have a steady cash flow. This option is also useful for companies with less than perfect credit.

With this option, as long as you have a steady income, you can receive funding for your business.

Qualifying for Unsecured Business Loans

Silver Rock Funding matched business owners with private lenders. These lenders have certain criteria for the businesses that they are willing to work with. The Silver Rock Funding system works to ensure that the lender and business partnership is fitting.

Approvals are mainly based on:

Does your business generate more than $8,000 in monthly revenue?

Have you been in business for at least 3 months?

How to Get Approved for an Unsecured Business Loan

Once matched, business owners can receive requested funds within 72 hours, directly into their bank accounts. Here’s what makes funding options appealing:

• Funding between $25,000 and $500,000 can be used with no restrictions.
• Your business loan is added directly to your business bank account.
• Terms are flexible and repayment is simple.
• Rates average between 1-2% monthly.
• Excess funding can be used for any other business expense.
• Collateral-free funding available