Title loans can be a quick and easy way to get the money you need to grow your business. But what are they? A title loan is just like any regular loan with one exception: there are no credit checks involved. It’s possible that you have never heard of a title loan before, but if you’re in sales, it might be your best option to secure the funds you need for inventory or product purchases.
At Loan Company we make sure clients leave our office with an understanding of what type of loans they qualify for and how much it will cost them in interest if their company is accepted for a sale. The loans we offer include personal loans, business loans, and even real estate loans. The best part about our title loans is the rate of interest you’ll pay. The average interest for a personal loan from a bank is 5% – 7%, but that can be as high as 20% or more with some banks. That means that if you need money to pay down your credit card bills, do it now because it will be easier to pay off in the future with a title loan from us.
Another benefit of your choice of a title loan from us is the fact that there are no credit checks involved with applying for a loan. Loans from banks tend to be a better option because there’s a high likelihood you will qualify for one. This means that you have a lower chance of being turned down by us and you won’t have to pay any interest fees as long as your business is being financed.
Another benefit of applying for a title loan is the fact that there are no credit checks involved with applying for a loan. Financial institutions typically require undertakings and an application form explaining how much money you need and why; we don’t even need that. We only need to know what your business does and if it qualifies, we’ll process your request immediately and arrange for the loan in one business day, often sooner. When it comes to financing your growing company, there may be better options than a bank. Before making a decision about the next step to take for you and your business, it’s worth exploring what we can offer and how much money you can receive from us to fuel your growth.
Are you looking for a faster way to get cash? In these days of shrinking bank lines of credit, many business owners are turning to the option of a title loan. Title loans are an easy way for business owners to secure the funds they need when banks have tightened their purse strings. A title loan, also known as a hard money loan, is a form of financing that provides quick cash to business owners who have been rejected by banks. In many cases, you can have the money you need within 24 hours. In other situations, businesses may need to wait up to a week for the financing to take place. Regardless of how long it takes, getting a title loan is much easier than securing funding through banks.
Generally speaking, you do not need an existing line of credit or an outstanding business credit score in order to qualify for one of these loans; provided that your business meets certain income and liquidity requirements.
How can a title loan help you enhance your business?
When you secure a title loan, you’ll be able to get the cash you need to grow your business or fill in when your line of credit or investment capital is not sufficient. Here are some examples of how title loans may help you:
– Fund inventory purchases in advance of sales. Many businesses utilize financing to purchase inventory in advance of anticipated sales. This allows the company to take advantage of off-season pricing and accumulate products that may then be resold during peak seasons or when consumer tastes shift.
– Finance the expansion of operations into new markets. If you are looking to start a new business venture, obtaining funding before you launch will allow you to take advantage of the benefits of existing infrastructure and community connections. If your business is in a market where there are no banks, you must secure funding from lenders who have offices in the community you wish to target. This requires other sources of financing other than banks, which may include hard money lenders.
– Fund brand new operations. When your company is launched or when it undergoes an expansion into other markets, you might not have sufficient capital to cover all operations. A business that has secured financing through hard money loans can tap into this funding without incurring interest payments while the company undergoes its initial growth period.
– Acquire a new line of credit. The expansion into a new market or the purchase of a new piece of equipment that runs more efficiently than the previous equipment may require more capital than you have available through your existing lines of credit.
– Refinance or consolidate business debt. Businesses often take out business loans to finance the expansion of their operations and usually pay high interest on these loans. If you are carrying too much debt, you might want to look into refinancing your business loan or taking out direct loans from multiple lenders, which will reduce costs and allow for greater flexibility with repayment options.
– Purchase inventory for resale at lower sale prices. Whether you are buying inventory for resale or holding it in the hope of selling the goods at a profit, you may be able to secure financing to help expedite the process with the help of title loans.
There are also other benefits to obtaining a title loan, including faster funding and lower interest rates.
What are some of these advantages?
– Quickly fund what you need for your business. The average title loan can be obtained within 24 hours or less depending on its severity level. Once you have obtained one of our loans, your cash advance will be waiting for you at the bank where you wish to receive your funds.
– Low-interest rates. Our title loans come with low-interest rates that are usually used to determine the level of risk associated with your business. If you meet our qualifications, we will offer a lower rate, allowing you to get more capital for your business at a low price.
– More flexibility when it comes time to repay your loan. Our title loans don’t contain pre-payment penalties, so you can pay off the money you borrow in full at any point during your loan term if your needs change or if an emergency occurs that requires additional funds that must be paid immediately.
– No repayment obligations. Though we offer loans to businesses, we don’t hold you liable for repaying the funds. If you can’t keep up with your payments, we will release you from your loan and not require payment until full payment has been made.
– No monthly interest payments or early repayment penalty fees. If you take out a hard money loan with us, your loan does not accrue interest; rather, you pay one fee for the entire term of the loan whether you take out the entire amount or not. You will also be notified as soon as your application is reviewed and that you are approved for financing as well as when the funds will be available at your bank.
If you are looking for financing that will give you the cash that you need to give your business the boost it needs to remain competitive, then contact one of our friendly loan officers who will be happy to answer any questions you might have about the title loans.