Unsecured business financing includes applying for multiple business credit cards. This is a great low-interest option that often is cheaper than a conventional line of credit or loan.
To Qualify:
- Personal Guarantor
- Business owner with at least a 685 personal credit score
- Business owner without bankruptcy, liens, judgments, or late payments
- Less than 5 inquiries in the past 6 months
- Lender prefers established business credit
- Less than 30% balance on all business and personal credit cards
- Established personal credit
Terms:
- Approval amount is typically 5 X the largest credit card limit on the personal credit report
- Many credit cards offer a promotional introductory 0% interest rate for 12 months – 18 months
- 5-29%
- 12% Success Fee