If you are a small business owner, you know by now that many unexpected things can occur at any time. These unexpected things can cause you to need a business loan, but you might not know where exactly to turn. Our Pittsburgh branch can help you secure the business loan you need in a quick amount of time and with no hassle at all.
You will get approved fast with us.
Our team will make sure your funds are deposited as quickly as possible.
You can structure a repayment plan that meets your budget.
You can use the money on your business or get personal belongings that will help you run your business.
The funds can be deposited into your bank account or on a pre-paid card, and you can use the same bank account or debit card to make your monthly payments.
Just Before You Submit The App
As you get ready to submit your application for a business loan with our company, there are several things you must first consider. The first thing you need to consider is if a business loan is absolutely necessary. Though a business loan can help you tremendously, it is another bill that you have to factor in every month, and this bill may go on for five or even ten years depending on how much money you borrow. Once you are sure the loan is necessary, you need to decide on a specific amount of money to borrow. Explaining what you want to do with the money to one of our representatives will be a big help when trying to decide how much money you want to borrow. Our representatives can compare what you want to do to what past customers did and how much they borrowed.
We Do A Credit Check
It would be foolish to think we do not do a credit check. With that being said, it is important that you get a copy of your credit report and fix it up to its highest potential before applying for a loan with our company. This will help your chances of being approved for a loan, especially since a hard inquiry from our company will in itself bring your credit score down a few points. Having you derogatory remarks and a 100% payment history are two of the biggest things that will help you in this situation.
Let Us Help You Build A Presentation
If you would like, before sending in your application, our team can help you build a business plan that will impress the bank. The business plan will show exactly what you are planning to do with the money and how this undertaking will bring in more customers. This shows the bank that you are serious about pay back the loan, so they will be serious about giving you the loan. In certain cases, this type of plan will even lower the overall interest rate because the bank will trust your business skills.
Know What You’re Getting Into
Before officially accepting the loan, it would be a good idea to go over the loan contract for an hour or two, and you may even want a family member to look at it, too. Being that this loan may be in your life for several years, it makes signing the contract a big life choice. One of the main things you want to check is the interest rate and the finance charge. These are amounts that are added to the monthly payment, but they may add a couple thousand dollars to the overall loan. Another thing you want to check is the insurance policy. You usually have insurance on so many thousands of dollars in case of a fire or if the funds were to get stolen somehow.