Business Loan Without Personal Guarantee

When it comes to getting loans to help yourself in times of need, you might think that you are restricted to your traditional lenders such as the bank that you mostly use. However, such traditional lenders will ask you to provide personal collateral in order to get approved for most types of loans, especially business loans. While this policy exists on legal grounds and it helps the banks secure themselves of any frauds and secure themselves, it can be hard to stand on the verge of losing everything you have worked hard for. And so, we should tell you that you do have the option of going for business loan without personal guarantee. We searched through various lending companies and found some of the best lenders that offer you a business loan without personal guarantee. So, let’s go ahead and look into them!

business loan

Business Loan Without Personal Guarantee

Now the type of business loan without personal guarantee is commonly loan as an unsecured business loan. Learning this keyword will help you find companies that offer unsecured business loan if you wish to find further options as well. For now, we will be introducing some of the very reliable ones.

The first lender that offers you a business loan without personal guarantee is known widely as Funbox. Fundbox is basically a small level business loans and small business line of credit lender. These two types of loans from Funbox can help you secure about amount that has a limit of $100K. The borrowers who opt for Funbox do not need to provide the company with any personal collateral such as their real estate property, equipment, vehicles and so on. Along with that, Funbox does not even require a personal credit check from their clients. You can easily qualify for an unsecured business loan if your business has been functioning for at least 6 months.

Another lender that provides business loan without personal quarantee is Kabbage. Kabbage is basically an online lender that provides unsecured business loan that also will not require any personal collateral from you. All you need is a credit score above 550, a business revenue that is about $50K and more, a one-year experience in business and you can qualify for an amount up till $150K.

business loan

Similarly, you can also go for OnDeck business loans. This company will offer you a business loan without personal guarantee that comes within the range of $5K to $500K. However, they will require an annual revenue of your business at the amount of $100K at least.

These companies can help you make sure your assets are not lost. And so, it is safer to opt for them because personal security is your first priority!

 

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