If you are searching for money for a business you want to start, Max Cash Title Loans can help you achieve it. In Iowa you cannot get an auto title loan. A secured business loan is when you use your car as equity for a loan that involves your business. Let Max Cash Title Loans help you try for a secured business loan.
If you are a babysitter, dog walker or any side venture you have and get paid for it regularly you can call it a small businesses. One of the main points is you will have to prove you have a real business. Some things you can use as proof would be your websites, a business card, tax ID’s and this is just a few things.
If you have been in business for more than a year and have a lot of income coming in from the business most an unsecured business loan companies would want to talk with you. We do not offer this loan. Most companies do not want to show bank statements necessary to prove income nor do they want to show that their account may have been in the negative or has low cash flow issues. If you have had problems with your checking account that may be a problem here.
A secured business loan offers you an alternative to other loan types you may not be able to qualify for. The smallest loan amount the lender gives out is 5,000 dollars so your car has to pass the muster. The car must be worth at least 6,500 dollars and must be free and clear of other liens or almost paid off. Additionally, you will need to present proof that your business is legal and that you have the ability to repay the loan.
Secured Business loans skip some of the disqualifying things that other unsecured business loans have.
What is Allowed is:
- No need for bank statements
- Bad credit is not an issue
- ANY business industry
- High approval rates
- Easy payment terms
- Under a year in business is ok!