Starting a Business – Securing a Loan without any Collateral

You may have a great idea for a business in mind, but no way of getting your company off the ground. If you’ve no money in the bank and no investors willing to help you get started, your only other option is to opt for a business loan. Getting a small business loan without collateral can be difficult. But there are ways to secure finance through alternative lenders. Healthy Credit Score – If you’ve no collateral to offer a traditional lender such as a bank, you’ll struggle to secure a business loan. Before you apply for finance from any lender, it is important to clean up your credit score. Having a good credit report will help you on the road to getting unsecured start up business loans. The best way to do this is to pay off as much debt as possible and limit further debt liabilities. B

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