Procuring a loan in Cleveland Ohio Horizon Business Funding helps
Procuring a loan in Cleveland Ohio has become hard due to the poor economic state. The rise in oil price among other major factors has contributed significantly to the hard economic times. Thus, small businesses have found themselves on the hard side of the loan accreditation process. Receiving loans from banks, credit unions and other traditional forms of moneylender is very hard. This is because they use your credit score to determine if you are eligible or not to acquire a loan. People with a bad credit score will most likely be rejected applying for loans. This means that small business that show the hope of maturing and becoming a success may end up failing.
Our small business-financing program loans can help business owners in Cleveland Ohio to procure loans. The best thing is that when you deal with us several factors that many lenders would consider are no key issues. You will not be required to submit tax returns or show us your business plan in order to be approved. You are just required to fill in a form that is made available online. There are a few requirements that a person should meet in order to get the loan. You must be the owner of the business that you are applying to get the loan for. You are required to have operated the business for a period of not less than three months. Finally, you must show proof of revenue; in detail the business should be generating at least $10000 a month.
If you are able to meet all the requirements needed for the loan. You can expect to get it in a period of less even 48 hours. The loan's value can vary from $1,000 to $1,000,000 depending on your application. After you have procured the loan, there are measures placed to make sure that you are able to repay the loan comfortably. Your gross monthly bank deposits will be used in determining the repayment plan. A small fixed percentage will be deducted from your deposits depending on your income. The payment is made proportional to your earnings so as to ensure that you are not strained in any way. There are no fixed payment terms that are imposed on you for payment. Cleveland, Ohio small business owners do not hence have to worry about falling back on their payments when the business is moving slowly.
Small businesses in Cleveland Ohio have an added advantage when they deal with us compared to other programs. You will not be required to leave any collateral or submit a personal guarantee in order to qualify for a loan. You are also assured that no cash advances will appear on your credit report. This assures that your future ability to qualify for loans is not affected. Also no liens will be imposed on your home or business. The methodology in which you choose to use the capital is not of a priority to us. You can use the money to expand your business or to maintain some of your products. The decision is all up to you.How Financing Works