The term ‘unsecured’ might feel a little intimidating at first glance, but the fact is that where loans are concerned, the word can actually be extremely beneficial to borrowers.
Unsecured business loans, unlike their secured counterparts, are a form of financial investment that can be sought from lenders and investors when a company doesn’t want their own assets to be used as collateral.
In simple terms, if you own a company or are applying for a loan on an individual basis; the chances are that you will be expected to forgo your property and assets if you are unable to keep up with the repayments. This isn’t the case with an unsecured alternative – if you aren’t able to maintain your payments, the lender will simply have to accept their losses.
Who can apply for this type of loan?
As briefly mentioned above, anyone (be they a part of a company, or applying solo) can put themselves forward for this type of loan.
Now you might be wondering why a lender would even consider risking their finances by offering these services; but the answer might surprise you.
Where most will want evidence of your earnings to ensure that you can cover the cost of your repayments, there are some lenders that will simply evaluate your credit-score, or your worthiness as far as your credit report goes.
If all checks out and it’s clear that you have kept up with all of your repayments in the past, then an investor will be far more likely to approve your application.
Where do our team come in?
If there’s one thing that we understand more than most, it’s that the threat of having assets seized can be a terrifying concept to come to terms with.
At Tundra Finance we make it our mission to cater to all of our clients, so if you’re in need of a reliable service that can source the best unsecured deals on your behalf – you’re definitely in the right place!
Our team will work tirelessly to approach potential lenders, submit your credit scores and then evaluate the best options available to you, all without you needing to lift a finger.
What better way to obtain approval and receive a cash sum that can be put to purchasing new assets, or resources for your business?
Get in touch with us right now to learn more, or to hire our team of experts – all of which will be more than happy to help you with your needs today.
Tundra - Experts in Business Finance
(03) 9021 3774
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