UNSECURED LOAN TYPES
Explore our guide to various types of Unsecured Business Loans. Whether you’re considering uncollateral-based funding or seeking insights into fast funding solutions, we’ve got you covered. Understanding business loan interest rates is crucial for making informed financial decisions. At Liberty, we believe in transparency, providing clarity on interest rates to help you set realistic expectations. Rates shown on here is for informational purposes which compares to the current lending marketplace. You will achieve the same range no matter where you go.
Cash Flow Loan | Business Credit Card | Line of Credit | Term Loan | Merchant Cash Advance |
Credit Score | Credit Score | Credit Score | Credit Score | Credit Score |
Time in Business 3 months+ | Time in Business | Time in Business | Time in Business | Time in Business |
Monthly Revenue | Monthly Revenue | Monthly Revenue | Monthly Revenue | Monthly Revenue |
Loan Amount | Loan Amount | Loan Amount | Loan Amount | Loan Amount |
1.06 - 1.7 | 0% - 36% | 8% - 55% | 7% - 54% | 18% - 140% |
Benefits: Perfect credit not required. | Benefits: 0% intro APR's, Spending Rewards. Points Rewatds. | Benefits: Only pay interest on funds drawn, Credit is available when you need it, It is suitable for the majority of business needs. | Benefits: Loans are approved quickly, No collateral may be needed, Little paperwork, Early Payoff Discount. | Benefits: Short term to funding, Not for long term solution. It's a stop gap. Emergency. Not to live off. No collateral required. |
Drawbacks: Higher cost, Automatic payment. | Drawbacks: Variable rate, Possible annual fee. Appears on personal credit | Drawbacks: Don't offer high approval and funding. Higher interest rates. Low approval rate. Not for low credit score, There is a personal guarantee. | Drawbacks: Credit window is a lot loose company to a line of credit. Shorter repayment term than bank loans. | Drawbacks: Higher cost depending on credit qualifications, revenue and sales history required. |
1 year tax return | Typically no docs. Honor system. | 1-2 years business tax returns | 1 year tax return | 4 months bank statements. |
4 months bank statements | 4 months bank statements | 3-6 months business bank statements | 4 months credit card processing statements | |
4 months credit card processing statements. | P&L and BS | 4 months credit card processing statement | 1-2 yrs tax returns. | |
Year-to-date Financials (P&L and BS) |
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From application to funding, your guide to unsecured business loans.
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