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What you Should Know About Traditional Lenders and Business loans

By: Tony K.0 comments

While Banks and traditional financial institutions deny 80% of the business loan applications due to a variety of reasons, it is important to make sure to review the offer clearly and closely.

Junk Fees:

There are numerous  expenses masked in the lender application which we call junk fees under regulatory expenses, application expenses, contract charges, due constancy expenses and that’s just the beginning. These charges are now and then covered up and may not be visible but are added to the ultimately payback amount.

90 days Funding:

While traditional lenders do lend at least 20% of the time, one of the biggest hurdles to overcome is the amount of  time it takes for traditional lenders to take and process  and underwrite your application.  30 days to 90 days is not unusual funding time in most circumstances.  To most business owners time is money and waiting 90 days to remedy a financial bottle neck that is costing the business revenue and profit is unacceptable. So make sure you understand the timeframe it takes to get funding from your traditional lender and if your need is urgent (within 24 hours to 14 days) then a traditional lender is not the right solution for you.

We fund your business loan within 24 to 48 hours with minimal paperwork, no personal guarantee and no tax returns.  To get started today, please contact us at 949.299.0999 or mobile 949.310.6025 (text is acceptable too) anytime. Optionally spend 5 minutes and fill out our online application.  A professional funding specialist will get t back ti you with multiple offers within 4-24 hours.

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