Does
your business need a loan? Procuring funding is one of the most challenging aspects of owning a business. When you want to get a loan without giving up your equity, you have limited options. But one of the most versatile and useful options is a collateral only business loan. A collateral only business loan has many advantages — and is available now through MY Company Funding.
Apply Now from $300k to $30m
Sometimes a business
needs a boost of working capital. A collateral only business loan through MY Company Funding doesn’t require any financial statements, credit reports or tax returns. Unlike other loans, income statements and bank statements are not needed. Instead, this type of business loan operates solely upon collateral. By providing this type of secured loan, MY Company Funding is able to offer faster disbursement, higher loan amounts, and ideal Interest rates. Collateral loans are based on assets, with 75% of the FLV (forced liquidation value) of an organization’s equipment.
Companies may not have established credit or income, but they always have assets or equipment. If your business is just getting started, you can achieve liquidity for stability and growth by leveraging the equipment and assets that you have available for your business. 12, 24, 36 and 48-month terms are available depending on your organization’s assets and your current financial needs.
The Benefits of a Collateral Loan
- You don’t need a solid credit history. If you’ve just started your business, it’s possible that you don’t have any credit history at all. A collateral loan doesn’t require any credit history whatsoever; it’s based solely on assets.
- You don’t need to show consistent income. If you have a regular income, invoice factoring may be an option. But this requires that you sell off part of your company’s future income in return for cash now. Without being able to show consistent income over time, invoice factoring isn’t possible.
- You don’t need to personally guarantee it. Many business loans are personally guaranteed; if you can’t pay them back, your personal assets can be seized. A collateral only loan can be secured only by a company’s equipment and assets, ensuring that your own personal assets are secured.
- You don’t need to give up equity. Keeping your equity is very important. Without a loan, you often need to sell equity to investors — and that means that you are giving up some of your own shares.
Do you need a business loan for at least $300,000? Don’t give up equity or try to procure expensive traditional loans. As long as your equipment is free of any liens or any other lending, you can qualify for a collateral only business loan now. Our application process is fast, easy, and carries no obligation. Contact us at
MY Company Funding to get started!
