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
Benefits: Perfect credit not required.
Drawbacks: Higher cost, Automatic payment.
1 year tax return
4 months bank statements
4 months credit card processing statements.
Business Credit Card
Benefits: 0% intro APR's, Spending Rewards. Points Rewatds.
Drawbacks: Variable rate, Possible annual fee. Appears on personal credit
Typically no docs. Honor system.
Line of Credit
Benefits: Only pay interest on funds drawn, Credit is available when you need it, It is suitable for the majority of business needs.
Drawbacks: Don't offer high approval and funding. Higher interest rates. Low approval rate. Not for low credit score, There is a personal guarantee.
1-2 years business tax returns
4 months bank statements
P&L and BS
Term Loan
Benefits: Loans are approved quickly, No collateral may be needed, Little paperwork, Early Payoff Discount.
Drawbacks: Credit window is a lot loose company to a line of credit. Shorter repayment term than bank loans.
1 year tax return
3-6 months business bank statements
4 months credit card processing statements
Year-to-date Financials (P&L and BS)
Merchant Cash Advance
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 depending on credit qualifications, revenue and sales history required.
4 months bank statements.
4 months credit card processing statements
1-2 yrs tax returns.
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From application to funding, your guide to unsecured business loans.
This section will guide you through the process of Equipment Fnancing and Leasing.