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Lucrative small companies can quickly fail if they lack cash. Likewise, unprofitable unprof small companies can be kept afloat for a long time if they have a good cash balance. In other words, money is the life blood of American small businesses.

Small Business Loans in Kodiak, Alaska

Naturally, when times are tough, inability to obtain capital to pay daily operating expenses typically becomes a source of worry, stress and anxiety and interruption for small company owners.

In these cases, many small company owners think about seeking short-term financing.

Small Business Loans in Kodiak, Alaska

Sadly, the majority of huge city and town conventional lending institutions have rigid and rigorous requirements that their clients need to meet.

Because of this, there is 4 specific features that are required by those seeking company financing.

Easy credit approval:

Organisations have a separate credit score from the business owner. Even if the business owner has a high credit score, the business may not have an established credit report (particularly if freshly established). For that reason, prospective lending institutions need to offer services with that take business owner’s individual credit into consideration and that accepts applicants with less than ideal credit.

Quick Financing Time:

Usually, when an organisation is seeking out a loan, they have operating costs that they have to be able to pay within the next 7-14 days (such as payroll and suppliers). As such, loans that take weeks to be approved and finances simply aren’t suitable to many companies needs

No Red Tape:

Lots of traditional lending institutions needs months of bank declarations and years of income tax return to be able to process a loan application. While this might not be a big deal to a well-established business, it’s not very helpful for a new organisation that has beened around for 6 months to a year

Small Company Friendly:

Oftentimes, brick and mortar lending institutions just service companies doing 20k or more in regular monthly income. This disqualifies smaller sized companies doing 10k-15k in monthly revenue.
Because of the stringent abovementioned qualification requirements enforced by traditional lenders, increasingly more entrepreneur are turning to the myriad of online lending options now offered to small business owners in Kodiak, Alaska.

GoTorro Small Business Loans provides rapid financing in as little as 48 hours, of quantities ranging from $10,000 – $500,000 to borrowers that fulfill the following standard credentials criteria:

500+ FICO Score

6+ Months in Business

10k+ Monthly Revenue

No security, No bank declarations, No Financials, No Tax Returns, and no credit references are required.

Click here to instantly find out how much financing your small business qualifies for

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