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Get fast, flexible financing to help your business thrive with Biz2Creditu2019s Unsecured Business Loans. Use the funds for equipment, expansion, or working capital-no collateral needed. Simplify your growth journey with our quick approvals and personalized solutions.
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What is an unsecured business loan? An unsecured business loan is a type of business financing that doesn’t require collateral like real estate or equipment. Because of this, lenders have stricter rules to approve the loan. Qualifying for an unsecured business loan often requires an excellent personal and business credit score and a solid business history.
Types of unsecured business financing 1.Short-term loans Term loans are a traditional type of small business financing. With term loans, a borrower is approved for a loan amount and receives a lump sum upfront. Then they make monthly payments until the loan is paid off.
2.Merchant cash advances A merchant cash advance (MCA) is a type of fast funding that offers you a cash advance in exchange for a percentage of your future revenue. You repay the funding with weekly or monthly payments.
3.Business lines of credit Unsecured lines of credit provide revolving credit to small business owners. Business lines of credit work like business credit cards. A borrower is approved for a maximum credit limit. Then they can draw on funds when needed.
