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GETTING BUSINESS LOANS
Banks are usually the first people turn to when
looking to secure financing for their businesses.
Although a convenient source, some banks are not open to
working with smaller businesses. However, Star Loan
Services specializes in helping small businesses achieve
their goals by providing low rate loan options for
existing businesses and first-time business owners.
Below are the basic criteria we look at when making
business loan
approval decisions. It is a good idea to familiarize
yourself with these facts so that when you
apply for your
business loan, you are prepared.
Capability
This is your ability to repay your loan. If your
business has strong cash-flow, you will likely be able to
pay your loan in time, and in full every month.
Credit
What is your
credit rating? Obviously, the better credit
you have, the better your chances of approval are. Also,
the less risk you are, the better interest rate you will
receive. Positive credit also means the likelihood of
being able to secure more money for your loan. Please
note that Star Loan Services does have the ability of
providing
business loans to people with bad credit.
Amount
How much financing are you looking to secure? Also,
is the amount you are applying for reasonable compared to
your business's financial status?
Collateral
Do you have any property that you can
secure your loan with? Star Loan Services does
provide unsecured business loans for good and bad credit.
However, if you are looking to guarantee your financing
request, we suggest you consider offering collateral as
security for your loan.
Background
What kind of person are you? Are you reliable?
Honest? How long have you been in business? New business
owners, are you experienced in the field you are looking
to develop your business into?
Purpose
What are you going to use your loan for? The purpose
and goals of your business must be legitimate and
realistic.
Star Loan Services will work with you to obtain the
business loan you need. We have a wide variety of loan
programs for good and bad credit. We will help make your
dreams a reality!
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Understanding Credit Scores
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