What could you achieve in a year if you had the money to pursue your dreams? Could you capitalize on all of the visitors coming to your city for the upcoming International Horse Show, College World Series, and Olympic Swim Trials? Could you quickly repair and prepare a recently acquired home so that you could rent out your space to visitors who are looking for an option other than small hotel spaces with no parking? Could you rent a small office space and staff it with tutors to capitalize on the expected need of test tutors and essay coaches high school students will need as they try to prepare for the revamped college admittance SAT?
Unfortunately, lack of capital is the reason that many people are not able to achieve their business goals. An unsecured business loan, however, could provide the capital you need to achieve the goals you have planned.
Funding Experts Can Help You Get the Unsecured Business Loan You Need
For some, business loans are easy to come by and fast to obtain. For others, access to short term business loans seems impossible. The advantages to an unsecured business loan is that applicants can often get their hands on the cash they quickly, and with little or no collateral. Working capital business loans allow lenders to achieve their goals of starting a new business, expanding a current business, or researching future business opportunities. In fact, many working capital business loans do not even require a business plan.
Tomorrow’s Businesses Have Not Even Been Imagined
The percentage of potential entrepreneurs who are Baby Boomers is growing. In fact, the estimated number of Baby Boomers starting a business from 1996 to 2013 has grown from 14.3% to 23.4%. As the technology markets and potential for new business ideas continue to grow, financial experts expect this trend to continue.
Unfortunately, many of these new business owners do not have the working capital that they need to start the business of their dreams. These loans are sometimes extended based on your projections on your future income potential. Often, the loans charge no penalty for being paid off early. As a result, a these loans require less paper work than other typical loans. They also do not need as much collateral as typical loans.
Small Businesses Often Need Access to Big Cash Amounts
It is often impossible to reach your business dreams if you do not have enough cash. In fact, according to the U.S. Small Business Administration, insufficient capital is the number two reason why small businesses fail. It is second to “lack of experience.” Unfortunately, future small business owners often lack the funds they need to successfully fulfill their dreams.
Individually, lack of capital is a major disappointment and deterrent to potential entrepreneurs. And although the lack of working capital is a disappointment to a potential business owner, the lack of these funds can be devastating to the country. An estimated 25 to 27 million small businesses in this country account for 60% to 80% of all jobs in America. Without an opportunity for an unsecured business loan, new small business growth will dwindle and the entire country will suffer.
The small gift shop in your favorite shopping center not only provides unique and whimsical gifts when you need them, it also provides jobs to six employees besides the owner. Flexible employment hours at the gift shop creates more income for these gift shop workers who in turn have more spendable income. Their income helps support other small businesses that employ even more workers.
Not surprising, the small gift shop with the whimsical gifts got its start because the owners were able to obtain the unsecured business loan they needed. Without large amounts of collateral and a sterling credit record, those same small business owners were unable to qualify for traditional loans. The unsecured business loan provided them a chance they otherwise would not have had.
Maybe it’s time you start your plans for revamping those bedrooms and rent to those sports enthusiasts who will be coming to your city. With access to working capital you will have those rooms ready and be able to start renting them out right away.