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Know How To Get Alternative Loan For Your Real Estate Company
In todays tough commercial financing environment it is not very simple to obtain a real estate loan. Getting an approval for bank loan is not only time consuming but also requires a personal guarantee or security collateral which a real estate businessman may not be able to provide. Rapid Capital Fundings business cash advance program not only provides you with an unsecured working capital of $250,000 but also makes sure that it reaches you within only 72 hours.
How Business Cash Advance Is Helping Your Business Flourish?
If your real estate company accepts credit cards as a form of payment from your clients then you are eligible for unsecured merchant cash advance of up to $250,000. This loan program only purchases a small percentage of your future credit card sales for upfront cash. Moreover this cash advance does not require any security collateral or any personal guarantee nor does it require a plan or any specific purpose for it to get approved.
You do not need to have a good credit score or prolonged business history is not a prerequisite to qualify for the loan. The liquid cash can also be used for other purposes like building inventory, expansion, renovations, payroll, equipment, general business cash flow, or anything as the need demands. Past statistics have remained a proof of how this loan alternative has met the credit needs of various businessmen who otherwise have been rejected by traditional bank loans.
The approval rate for this loan is much higher and it relieves you from enduring startup costs, closing fees and hidden charges. Apart from that, this loan program does not bother you with too much of paper work unlike conventional business loans. Usefulness of Rapid Capital Fundings merchant advance program lies in the fact that it gets approved in a period of only 24 hours. There is no need to worry if your business is going through a rough patch as the payback policy of this loan is designed in a way that contends with the ups and downs of your business.
Take A Quick Look at Features That Business Cash Advance Provides:
No collateral required
No personal guarantee required
No fixed payments schedule
Quick approval
Cash in 72 hours
95% Approval Rate
No Applications
Closing Fees
If you need immediate cash for your real estate business then you must opt for Rapid Capital Funding’s business cash advance program. This loan program not only meets your credit needs but also allows you to enables you to give a shape to your dreams. Stop floundering and discover the real magic.
Bridging Loans – How Quickly Could I Get One?
First of all, let’s just take a quick look at exactly what a bridging loan actually is. It’s a nightmare scenario. You’ve spotted the perfect new home. Right number of rooms. Good size, well looked after, not too far from work and with a great garden for the kids. The only fly in the ointment is that you’ve not managed to sell your own property yet.
That’s the end of that then, right? Well actually, not necessarily. Enter the bridging loan. As the name suggests, it’s a short term loan facility that provides a ‘bridge’ between one loan and another. In this case, the loan would allow you to go ahead and make the purchase of the second property. The facility would only need to be short term, typically between 4 and 12 months.
There are of course, quite a few other reasons why you could consider a bridging loan:
– you may be considering making a purchase of a property from an auction, in which case you need to raise the funds very quickly.
– you could be thinking about purchasing land or even, as all the property programmes on television are concentrating on at the moment, a property abroad.
– refurbishing an investment property with the intention of selling it on in a very short space of time.
– raising money to pay a tax bill
– covering temporary cashflow problems
– taking off on an impromptu luxury holiday
– your daughter’s getting married. She wants all the trimmings and you have to do your parental duty and cover the expense!
As the property merry-go-round has been spinning at full tilt in recent times, many people have found themselves in a situation such as described above and as a result, the volumes of bridging loans have increased accordingly. Lenders have provided more choice and options and have often been innovative in their approach to help their customers.
Clearly, the key principle of a bridging loan is providing the cash very quickly to the customer who, probably more than any other type of borrower, needs the cash immediately. The whole process is very often streamlined and simple in real terms. There are many online brokers that you could make an enquiry to and having done so, they will probably be in touch with you on the phone in a matter of only a few minutes and you could have a decision in principle within an hour or so.
As part of the application, the broker, on behalf of the lender, may ask you to supply some or all of the following supplementary documentation:
– proof of residency
– proof of income
– proof of ID
– buildings insurance certificate, and
– an independent valuation figure
Once received, the loan could be completed in somewhere between 2-10 days. Wow! Now that is fast! So if you need to raise finance quickly, you now know what to do.