Payday Loans - Unsecured Loans - UK Loans

I have recently decided that I need to change my home-based business, because I have outgrown my space. Right now, I need to locate a physical location for my business, and I need the proper equipment to conduct my ‘professional’ classes.

In addition, I need to expand my business, and I have no cash to pursue my venture. What I am looking for is a small business start up loan, preferably an unsecured business loan. I’ve been having problems getting a loan because I don’t have enough collateral.

Can anyone offer me some guidance, advice, or even a reliable resource that will cater to a person in my situation?

I am a frustrated established business owner trying to keep pace with a competitive market. I am currently sustaining my business on my personal credit cards and have been doing so for quite some time. Now I have successfully maxed out each one of them out.

Because all my credit cards are maxed out, I am trying to get a loan in an effort to pay them off. I am confident that paying off these balances will take the noose of the neck of my business.

However, I find that most banks view me as a considerable risk because of my maxed out credit cards, and each attempt I make to acquire a loan is denied.

I am not quite ready to give up on my business. It is all I have.

So, I am hoping someone can tell me where I can go to get an approved loan that will give me the cash I need to pay of my credit card balances, without all the hassles.

I have great credit. I have paid off previous bills, and I pay my current bills on time. But because of the current level of activity in my business, I want to expand my services, which requires additional equipment and financial resources outside of what my business is capable of.

Because I placed so much faith in my ‘great’ credit, I approached several banks and applied for a loan with a business line of credit. I was informed, as a matter of fact, that because I am writing off all my expenses to my bottom line, I did not qualify for the loan. The banks I approach are basically telling me that my business is not making enough money.

Does anyone know of an existing resource that caters to business owners in my position? I am desperately trying to keep up with the pace of a competitive industry.

I truly can sympathize with Rob.

When I was beating pavement trying to get my own personal home-based business off the ground and establish it as a real business, I almost lost hope.

I kept hearing the same thing over and over again at every bank I tried.

One of the biggest hurdles I faced as I tried to make my business a reality was how to convince a lending institution that my business would make enough money to repay the requested loan amount.

The bottom line is that I found out, in each attempt I made to acquire a small business loan, that collateral is one of the biggest setbacks most entrepreneurs and small business owners have to face and overcome.

I found it very difficult to convince any bank that my home-based business could be a tremendous success, if I could acquire the resources I so desperately needed to get things on stream.

The fact remained that my efforts were fruitless.

The good news is I discovered an online lending resource, www.thesnaploan.com.

Based on my experience with this site, I was able to successfully acquire a start up loan for $100,000.

What’s event better is that I was able to apply online, and I got my approval pretty fast, about two weeks. It sounds like this website could be right up your alley.

Ralph, many business owners share your frustration.

Sustaining your business by using your personal credit cards is a fatal mistake. Take it from me.

It is one of the easiest ways to commit business suicide.

Like me, many business owners put a lot of focus and attention on income that is not guaranteed and, when things don’t work out as planned, they are forced to use their personal credit cards to save their necks.
I know! I was just about to draw my last breath when I found my saving grace.

For those business owners, like me, who have already found out how easy it is to make this financial mistake and how hard it is to try to fix it, it will be a relief to know that there is an online resource that is ideal for resolving this very stressful financial situation.

At www.snaploans.com a business owner can apply for a loan for up to $500,000. I didn’t need that much, but I was very surprised to know that I could get up to that much.

The part I liked best the approval process, besides getting back a response from the company so fast, was that they did not restrict me in any way as far as how I could spend my approved funds.

I was able to pay of my credit cards and successfully separate my personal credit from my business credit.

This sure did make my yearly tax return routine a whole lot easier.

Besides, with my approved loan, I was able to offer my business and personal credit history another chance at survival.

Matthew, at one point, I once believed that great credit was all that was needed too, when it comes to loans and lending money or assets of any kind. This is really not the case.

My experiences with banks and various lending institutions taught me that the business’ bottom line is a fundamental issue considered by today’s financial organizations as part of their loan approving process.

They need to be assured that you make enough money after your expenses to cover their loan payments.

Even though I had a great credit rating, I was still just not making enough money to secure the type of loan I needed, especially when these banks considered the amount I was requesting and saw that after I paid my expenses, there weren't much finances left.

However, I did come across a website called www.thesnaploan.com.

It seems to be millenniums ahead of its time, when it comes to current lending practices.

I was approved for a revolving line of credit that I can pay off and use again if I so decided.

I really love this option.

This website is a good place to start if you need an unsecured or secured loan, and you’ve been having difficulties elsewhere.

Unsecured loans UK are approved by the lenders after some basic requirements have been fulfilled. Since no collateral is involved, the lender also has to make sure about the credentials of the borrower. The requirements are:
•Regular employment
•Regular monthly cash inflow
•Residential proof
•Age proof of over 18 years.

Bad credit mortgage borrowers with bad credit tag can such as CCJs, IVA; defaults, late payment etc can also enjoy the benefits of cheap unsecured loans UK. By paying back the loan amount in due time, borrower can also improve the credit score.

Hmm… I'll have to keep this post in mind because I want to run my own business soon. I have a good amount of money saved, but I know I'll have to take out a loan at some point. I can use all the advice I can get. Lately I've been thinking about buying a business instead of starting one from scratch. Any suggestions? Advice? Thanks.

@Mary -- There are a lot of resources online that you can check out if you're strongly considering to buy a business. There's one called BizTrader.com, which is an online global marketplace where you can buy and sell businesses. It has a bunch of different resources, and you can also use it to find a lender, broker, etc.

Then there are always books, magazines, and local small business groups that can provide helpful advice.

Good luck!

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