No Income Proof Loans
1. Unsecured Lines of credit ranging from $50,000 to $250,000

Most small businesses over 2 years old qualify for an unsecured line of credit, with the exception of cash-based industries. The majority of unsecured credit lines are provided by larger lenders. Smaller regional banks shy away from providing these products until they've established a strong business banking relationship with the borrower.

General Required Documentation: Certificate of incorporation, filing receipt, tax identification papers, copy of drivers license, utility bills, last three months of banks statements, accounts receivables aging statements for past quarter (for lines more than $100,000), and the credit application of lending institution (filled and signed by borrower)

Tips to strengthen case:

  • Clearly reflect ownership on the state web site where the company is incorporated.

  • Avoid business and personal tax liens since the IRS lien takes precedence.

  • Check the UCC status from the current lender of any existing lines of credit.

2. Equipment Financing term loans up to $100,000

Any business with equipment can qualify for this financial product. Most large lending institutions and some specialized equipment financiers provide equipment financing loans.

General Required Documentation: Estimation of equipment value from supplier, Estimation of capital improvement and construction costs

Tips to strengthen case:

  • Provide a detailed breakdown of the equipment (include make and supplier.)

  • Provide the estimation of capital improvement costs with from an approved general contractor.

  • Provide information for equipment installation (floor plans, copies of lease agreements, etc.)
 

Need a business loan or line of credit?

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  • Unsecured and secured lines of credit available - from $500 to $15 million!
  • Over 120 business loan and line credit products and lenders active on the system!

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"Biz2credit has helped me secure financing by sourcing out several lending options and dealing with the lenders directly. This validates us as a business to the lenders and enables us to choose the best deal. Biz2credit does all of the leg work for us and forms the relationships."
Ayiesha Selwanes, Franchisee, Dunkin' Donuts
 

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