Good Morning! Today we report from the world of Small Business Loans, a Bad Credit Loan Approval that we were able to get done FAST. Our agent received a phone call in the morning from a small business owner looking to take advantage of our 48 Hour Business Loan program and was VERY motivated, organized and ready to put the funding to work to GROW the business. He had a project that simply ran out of financial steam before completion a situation that can happen to anyone, in any industry – and we should know about industries, we fund them all.
Skytop Business Loans: Automotive Loan Story
For this Automotive Business Loan our representative sent the application and requested three months of business bank statements ?- that was ALL that was needed. The documents were submitted, and we had approval numbers in HOURS. When we determined the amount of money that he would be able to put to good use, the contracts were drafted, signed, and processed. The closing documents were minimal, a copy of a photo ID for the file since this was a new client to us, ?as well as a voided check so we knew where to send the wire and that was it! The funds were disbursed in just over 48 hours total time from start to finish! WOW – that?s a 48 Hour Business Loan that we can be pretty proud of, and we are doing these types of Small Business Loans all of the time – even our Bad Credit Loan Approvals move that quickly.
This particular case was an Automotive Business Loan for a home based business. ?Home based business loans aren’t a problem for us, in this case the business owner has a fully functional commercial garage on the same piece of land that his primary residence is located on. Even in the alternative lending space, home based business loans are considered inherently more “risky” – that doesn’t concern us.? This particular business was strong – what else matters? We look at the FULL PICTURE while securing our Small Business Loans, and even our Bad Credit Business Loans and Bad Credit Loan Approval programs are going to be based off of the health of the business – not the location, and certainly not just the owners FICO.
The Small Business Loan process used by Skytop Business Loans is pretty simple compared to the traditional banking institutions, that’s why the Business Loan Approval rate is so high. We were able to fund this Automotive Business Loan based off of the Cash Flow of the business – that is the gauge used to determine the health of the business. Collateral is not required – and that’s a huge piece to the puzzle. When there isn’t a personal guaranty attached to the agreement we are able to go from facts to funding in hours. With a Business Loan Application Submission to Skytop Business Loans you can expect feedback within TWO HOURS. When I worked for a traditional bank try two weeks – and anybody who has gone through that process will know I am not exaggerating. It should be noted as well, that what felt like 90% after the two weeks have come to a close, also what was closed is the ability to borrow as the big banks just keep saying NO. This is a topic on every business news channel and publication, I’m sure you’ve read the articles. Even in this climate – Skytop Business Loans is getting Small Business Loan Approvals out in hours, and funding within days, not weeks.
Frequently people ask me regarding our Small Business Loan Programs how we can possibly do this so quickly, with such high approval rates, and not have a personal guaranty on most of our products. What we do is much different than what ?most are used to. Quite simply the way we have Small Business Loans and even Bad Credit Business Loans without a personal guaranty is we ask for a Performance Guaranty – What this means is if we get a 48 Hour Business Loan, even a Bad Credit Business Loan Approval on your Automotive business you sign that you will conduct the business, the way you have been conducting it, and not turn into an ice cream parlor over night. Regardless of how you feel about ice cream, you can understand that when we loan money to an auto repair business – we expect them to repair automobiles.