Unsecured Term Loans

Common eligibility requirements include having a good credit score, a stable business history, a proven track record of revenue, and the ability to demonstrate the ability to repay the loan.

- Business Plan: A detailed business plan that outlines the company's goals, financial projections, and how the loan will be used.
- Financial Statements: Financial statements that provide a clear picture of the company's financial health, including income statements, balance sheets, and cash flow statements.
- Tax Returns: Business and personal tax returns for the previous year to demonstrate financial stability and the ability to repay the loan.
- Bank Statements: Bank statements that show the company's cash flow and financial stability.Legal Documents:
- Legal documents related to the business, such as business licenses, articles of incorporation, and ownership documents.
- Identification: Government-issued identification for the business owner or authorized representative, such as a driver's license or passport.

In general, The process typically takes several days to a few weeks.

If you require more than $80k for an unsecured term loan, you may need to explore other financing options, such as secured loans, lines of credit, or venture debt.

Applying for an unsecured term loan involves researching and comparing lenders, checking eligibility requirements, gathering required documents, filling out the application, submitting it to the lender, waiting for a decision, reviewing the loan terms, signing the loan agreement, and receiving the funds in your business account. It's important to carefully evaluate your business's financial situation and consider the potential costs and benefits of taking on debt before applying for an unsecured term loan. Additionally, maintaining good communication with the lender throughout the application and repayment process can help ensure a smooth and successful experience.

The disbursement process for an unsecured term loan can vary depending on the lender and the specific loan terms. In most cases, the loan is disbursed directly to the borrower's business account, either by a wire transfer or by a check that can be deposited into the account.