Collateral equity loans can actually help out a small business in trouble. Remember that many small businesses also face the problems of strapped or limited cash situations that limit productivity. Unfortunately, since the biggest challenge of small businesses is always the lack of cash, when even a small economic downturn occurs, this may severely hurt the small business.
Collateral car title loans may be the answer for small businesses
Often, small business owners don’t realize that the source of help they need for the business is parked outside their business. Collateral car title loans only need the borrower’s fully owned car and the lien free car title to serve as collateral. Because the collateral makes the loan secured, no credit checks are needed to be done. Should the business owner have bad credit or no credit, this has no bearing on the loan approval. Up to $50,000 can be loaned.
Low interest with longer payment terms
Business owners might be enticed to go for unsecured or short term loans, but these may prove disastrous for the small business. These said loans offer very high interest rates at only 30-day payment terms. Also, since the business owner is technically unemployed, the loan may not be approved. No credit check title loans on the other hand offer the lowest interest rates for the whole lending industry. When compared to unsecured or short term loans, collateral auto title loan’s interest rates are even much lower. Loan payment terms are also the longest and most flexible.
At Canadian Equity Loans, we loan you money based on the value of your fully owned car and not your credit history and score. That means that you have fast access to emergency cash whether you have bad credit or no credit at all. Call Canadian Equity Loans now at their toll-free number 1-844-586-6311 or apply online.