By: Derek Porter
MyBusinessLoan.com connects business owners to the financing that their business needs, offering programs with high approval amounts, flexible terms and a short verification period, which are significant advantages in today’s unstable economic environment.
Range of Financing: You can apply for business financing within the range of $2,000 until $350,000.
Application Process: They offer a safe and secure online form. The entire process of submitting your form takes minutes. The decision process is very quick and, if approved, your financing can be available in as little as three days.
Industries Served: They understands the challenges many business owners face. That’s why you can use your business financing for any industry for any business purpose. The benefit of business financing with MyBusinessLoan.com is that the financing can be used for whatever your needs are. Funding can be used towards purchasing additional inventory, or hiring new employees, or even financing an expansion.
There are many business owners who look for business financing as a way of further growing their business. The additional funding can help in a variety of ways, the following is a short list of some of the ways you can use your funding.
The process of applying for a business loan is simple, and with a safe and secure online application form, you can apply directly. There are minimum requirements that you must provide, such as the length of time you have been in business, your monthly gross sales as well as monthly card sales. The approval process doesn’t take long, so you could receive the financing and funding your business needs in a very short amount of time.
MyBusinessLoan.com tries to make getting a business loan as simple as possible. It’s a great tool for those who are just starting their business and want to see their business grow.
To apply for a loan, you will need to provide the following information:
Once information has been entered, your application will be reviewed by the underwriting department. Once approved, the loan will be forwarded directly to your business bank account.
Do note that you must be a US resident, over 18 years of age and have no open bankruptcy to qualify. Tax liens are acceptable with an approved repayment agreement with the tax authority. You must be in business for a minimum of three months, and income from cash flow advances will be verified with bank statements covering four months.
MyBusinessLoan.com serves all industries and employs a policy of not limiting the use of the loan or its purposes.
One of the standout features they offer is that they make loans available to businesses that have been operating for as little as three months. Income is verified with bank statements, not income tax returns, so upstart businesses can get the financing they need.
Payment rates will be subject to the terms of your chosen lender; credit score; credit history and funding amount. Generally, the terms of a cash flow advance will run between 3 months to 24 months. SBA loans have terms up to ten years, with rates between 6.00% and 8.98% APR. Loans are placed through the Small Business Administration (SBA).
To differ from business loans, cash flow advances are intended for short term use (usually months), and are entirely unsecured. Their daily rates range between 1.1% and 1.45% per month. Based on a percentage of your monthly credit card sales, cash flow advances can be taken out for up to $250,000.
Closing costs on cash flow program are outlined in the funding agreement, and are based on the actual funding amount. In some cases no closing costs are charged. SBA Loans have no prepayment penalty. Additional financing is available in the form of a renewal once you have paid your original financing by at least 50%, and are in good standing.
MyBusinessLoan.com takes appropriate security precautions to secure the personal information that you choose to provide against the loss, misuse, alteration, or unauthorized access of such information, including the use of Secure Socket Layer (SSL) technology. While no transmission of data over the Internet is guaranteed to be completely secure, they will exercise reasonable care in providing the secure transmission of personal and non-personal information.
In the event that a security breach occurs, MyBusinessLoan.com will notify you of such breach within thirty (30) days and describe the nature of the information believed to have been compromised, the date and time of the suspected breach, the further steps you may follow to protect your information, and the steps they are taking to prevent future breaches.
The company can be reached via email, phone or direct mail. Unfortunately the site does not offer a FAQ section providing answers to the most common questions. However when we contacted the site by phone, the representative was both polite and knowledgeable, and answered all of our questions thoroughly.
MyBusinessLoan.com provides business owners with the financing that their business needs to thrive. Financing programs offered typically have high approval amounts, with flexible terms and verification done in a short period of time.
MyBusinessLoan.com has the advantage of working with over thirty (30) of the nations preferred funding companies, increasing your chances of securing financing that best suits your needs. Funding is given for any and all business purposes with no restrictions on how they are spent.
1125 E Broadway, #545
Glendale, CA 91205
Phone: (888) 775-0859