A Comprehensive Guide About Small Business Loans – How to Pick the Correct Investment Firm?
Market is usually tough for small businesses. It doesn’t matter what sector your business belongs to, as long as it is in its budding stages, investment is going to be the key to success. And getting that investment from licensed and experienced firms like prêt petite entreprise Accord is going to be the best solution because:
- Sometimes opportunities arise almost immediately. It calls for immediate funds that banks won’t provide, but Accord Financial
- A faulty equipment usually requires immediate correction. But the expense to get it repaired or buying a new one can be overwhelming. What you need in such cases is immediate money.
All in all, financial investment firms like Accord Financial are even better than traditional banks since they offer express loan approval services.
Some of the best benefits that such firms provide are listed below.
- They do Not Discriminate
As long as you meet their general criteria for loan approval, they will sanction the loan no matter how small your business is.
Their Criteria of Selection:
Small business loans are the specialty of Accord Financial. The only eligibility criteria they follow is listed below.
- Your business should be based in North America.
- Your business should be at least 2 years old.
- Your business should have an annual sale of $100,000.
- Your credit score should be l, at least, average.
As long as you’re all of the above, they will approve your loan.
- They are Quick
First, they’re easy to approach. You can simply call them and get a hold of their financial agents for assistance.
That said, their approval process requires very less time. Sometimes the request is approved within 8 hours and the amount is credited within 24 hours. That said, since they are quick, it doesn’t mean they’re careless. Remember:
- They will check all your documents.
- They will have their experienced staff look into your details instead of leaving it to the computers.
So, make sure you submit all the relevant documents.
- They’re Flexible
Their flexibility is the result of the spectrum of their services.
- They provide many kinds of loans.
- They offer different kinds of solutions.
- The loan amounts that they provide vary.
When it comes to small business loans, they can approve an amount between $5000 to $75,000.
In cases of asset-based lending, the amount shoots between 1 million dollars to 20 million dollars.
The different kinds of asset-based loans that they provide are listed below.
- Equipment financing
- Supply chain financing
- Retail inventory financing
- Lender financing
- DIP financing
All in all, they have different loaning options. All you have to do is pick one according to your business size and needs.