Fast Way to Get Small Business Loans
Conventional business loans can be a bit of pisky and stressful! To fuel the growth of small businesses, you may opt for the small business loans, sometimes you must stick with the qualification process of loans for several months.
But what anyone of you get their paths crossed with a business emergency? Everyone must take up the gauntlet and respond to unfavorable business situations on time.
What is the best possible situation to get funds available for your small business? Well, you must stick to the text until the end because you don’t want to treat your business as a leftover in the marketplace.
Why Fast Small Business Loans are needed?
As you are already aware of the small business loans, so augmenting the loans with fast loans here! This sounds cool because many businesses are in desperate need to finance their growth, and fast loans could assist with short-term capital needs.
There are times when your small businesses acquire fast access to additional capital or you may specify it with a fast business loan, which is critical to taking advantage of an opportunity because no one wants to undergo the rigorous documentation so to meet a short-term business challenge fast small business loans. So, yes go and break a leg!
Who can acquire fast business loans?
- Equipment failure- Some small businesses rely on specialized equipment; it might be a small restaurant that owns a pizza oven or it may be a large milling machine that plays an integral role within your manufacturing process. When your equipment gets down your business suffer in consequence to it.
- An opportunity to expand- Maybe your working space is asking for an extra next door or the bigger storefront down the street is now on sale, then quick access to money is needed to put things all together. The opportunity to expand acquires for quick access to capital might.
- Unexpected opportunities to increase profits- What if your suppliers offer you an unexpected discount on the inventories and you know that it could be an opportunity to fuel your business. To avail quick-turnaround inventory at a steep discount can be a great addition to your business so a fast loan can serve this purchase for you.
- Growing pains- None of us wants to say no to the opportunities, well to overcome the unexpected expenses, and it includes the ramping up of employees, training, office equipment, or any other expense related to the growth of your small business. To keep your business viable, growing pains must be considered with persistence.
- Building maintenance problems- Maintenance issues aren’t only restricted to small businesses, but it could wreak havoc on established businesses as well. Occasionally plumbing, electrical, digging up a sewer line, or putting a new roof on your building maintenance problems can add up to the bill in your wallet.
Unfortunately, popular media is out there leaving you on the fence, promoting the shallow idea that fast money is the ultimate solution to quench your every business challenge and normalizing the more money the better you get—it’s important to mention here that don’t exceed the required borrowing limit, it could be extravagant for small businesses, and could even put the businesses viability at risk.
BitX Funding- Business line of credit
BitX Funding provides you with the short-term business lines of credit, your wallet could be topped up with a credit line for up to $250,000.
Requirements for Qualification
- To qualify for a BitX loan, your business must have been operating out there in the market for at least one year.
- Your annual revenue must be at least $50,000 (revenue of $4,200 monthly revenue could also work)
BitX’s Simple Online Application
- Create an account, and you can also link your account to other systems, such as your QuickBooks, PayPal or business checking account.
- Connecting your bank account- It helps BitX’s lending partners to finalize a quick decision
- Fill the application with basic information in just a few minutes (Social Security number and business address etc)
- Review your business performance.
- Once you are done, submit the application.
- You will be enlightened instantly if the loan is approved or not.
- Once approved, you can have access to business funds immediately.
- You will be required to pay off the funds within six, 12, or 18 months.
- You must pay for the speed and convenience of BitX Funding.
- Loans carry a monthly fee, which typically ranges from 1.5% to 10% (it may vary)
BitX Funding – Business loan for working capital
BitX is an online Marketplace. It offers term loans from $5,000 to $500,000 and lines of credit from $6,000 to $100,000.
- You must have a personal FICO score of at least 600.
- Your business should be operating for at least one year.
- Annual revenue of at least $100,000.
- Must have a business bank account.
How to Apply?
It typically takes less than five minutes to apply for a loan.
- You can apply it online or over the phone.
- After applying, the loan advisor will reach you out. Usually, loan advisors take one business day
- Then after 24 hours, you can get your funds back.
You have to pay an average rate that is around 49% APR for term loans, and 35% APR for lines of credit inclusive of all tacked-on amount.
BitX Funding- Business credit
With BitX, you can have your funds within 24 hours. Business owners can swiftly apply for the loan and they get to know if they are approved or not in just a matter of a few minutes.
- BitX offers up to $100,000 in credit
- Business owners must carry a credit score of at least 500
How to Apply?
- When you apply for BitX, you just must share your basic information
- Fill your application with business information
- Connect your accounting software or bank account with your account
- Once approved, your funds are transferred within 24 hours.
Equal installments over 12 to 24 weeks pay off your loan. You’ll have to repay weekly payments of 0.5% to 0.7%.
While securing a traditional loan, you have to invest your time and you have to gather plenty of business documents to reach out to the lenders.
But a fast loan facilitates you to have your funds quickly and adorn your business with a trajectory to success. No hassle, no specific collateral, and no hidden charges eventually making you stress-free. You can now grow your business at your own ease and pace!
BitX Funding is the online marketplace for small business owners looking to fund a project. We specialize in connecting small business owners with lenders who will compete for your business. We believe small business owners drive the economy and we are passionate about helping your company reach its full potential.
You can reach loans specialist by toll-free at 1-800-824-2407, or email at email@example.com or applying online here and we can guide you on which loans are the best fit for your business