While individual lives have taken an unexpected turn, businesses have seen turmoil like never before. Yes, exceptions do exist and some businesses have benefited greatly out of every disaster that came our way, the vast majority of the businesses are yet to see numbers even 80% as good as pre-COVID-19 times. Some businesses still have their doors shut while others haven’t seen a profit in over a year.
We at Business Capital USA are an alternate business lender offering a reliable solution to eligible businesses that seek funding, even if they’re rejected by traditional loan lenders and disaster loan schemes.
Why Other Disaster Loans are Rejecting Applications
Some disaster financing plans and loans have highly subsidized offers while some are simply used as marketing tools by lenders. Either ways, a lot of applications for loans are pouring in, while the lending agencies/bodies are not in a position to meet the demand – there exists a huge gap in the supply and demand. This is probably the primary reason why many disaster loan applicants are facing rejection.
Beside this, most such loans require much paperwork and some also require concrete evidence to show that the business is affected negatively by the various incidences that have occurred. The number of formalities involved, makes the process cumbersome and also reduces the chances of the loan request being approved for some of the businesses that apply for it. Some business owners also back-out mid-way during an application, owing to the complicated application process.
Traditional Loans have a low Approval Rate
Traditional lenders like banks typically approve 3 out of 5 loan applications that are complete. Of course, the intimidating paperwork doesn’t encourage every applicant to complete the loan application.
Despite these low approval rates of loans, these traditional lenders see a fairly huge demand and the reasons for that are known to be affordability and reliability. Since alternate business lenders tend have a higher risk associated with lending, the loans tend to be more expensive. At the same time, traditional lenders are typically large banks and other institutional lenders. Their scale and prominence makes them seem fairly reliable.
Business Capital USA provides Quick Alternate Loans ideal for a Business Hit by a Disaster
We at Business Capital USA are a direct lender of alternate business loans. We are have built our strong reputation in the market through years of work and dedication towards our customers. In these troubling times, we provide a quick solution for businesses hit by disaster and at discounted tariffs.
If your business is in need of funds that can help you sail through these tough times, look no further as we are maintaining a high rate of approval of loans and are able to complete the approval and transaction of loans in as less as 2 business days, despite a high volume of demand.
When Your Business Needs a Reliable Loan for an Emergency Requirement
A loan is only as reliable as its approval rate. Even in these challenging times, we are able to maintain an approval rate beyond 89%, which is amongst the highest in the industry. This makes us one of the most reliable sources of business loans in the market. Hence, if your business is in an emergency need of funds, Business Capital USA is probably the best place to get help.
Being quick and reliable, makes our business loans ideal for emergency requirements and if you’d like to take the next step towards the loan, you can simply start the process and apply for the funding. Most of the process is online and simply filling in the application doesn’t bind you to a loan or cost you anything. It just helps us with basic information to do a small verification and get in touch with you for working towards a loan to fulfil the needs of your business.