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Old 16th February 2007, 05:56 AM   #1

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Default Unsecured Loans

hi friends,

Can anyone give some more information about the unsecured loans since I am not getting the appreciative and satisfactory information about the unsecured loans.

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Old 21st February 2007, 07:25 AM   #2
Corey Bryant
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Welcome to the forums petergomes!

When you say you are not getting the appreciative and satisfactory information about unsecured loans, can you be a bit more specific? Since you had no other posts on the forum - I could not tell what information you had received already unfortunately.

Usually companies that tell you they can get you a loan but they want money upfront, this is usually a scam. Most companies want to know / need to know that in case you won't be able to pay them back, they can get their money somehow

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Old 23rd February 2007, 05:29 PM   #3

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The only unsecured loan that you will get is from traditional banking and only if you credit is impeccable. Most loans are secured with assets and sometimes with a personal guarantee in case of default.

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Old 28th February 2007, 04:07 PM   #4

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I can`t get your point. Maybe you are looking for an unsecured loan; or wants to have an information about this two. We`ll; have time to be particular in questioning to have also an accurate answer.

Mostly banks with credit background investigator are the one offering this kinds of loan. If you can pass on their credit investigaton; then you can avail of the loan you are asiring for..

Have a lucky day.

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Old 28th March 2008, 02:06 PM   #5

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I believe you guys are a bit off, if your business process credit cards, you can get an unsecured business loan, which in fact is a merchant cash advance. You will basically be selling a small percentage of your future credit card sales (a 6-9 months term) and get the money your business needs upfront.

With these types of funding solutions you'll be paying as you sell your products or services.

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Old 28th March 2008, 03:38 PM   #6

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To get an unsecured business loan or line of credit you need impeccable credit. Usually a minimum of 680+ experian rating, two years in business and no late payments for the last two years. The tricky part is the strict underwriting requirements that come with obtaining this type of loan. There are consulting companies that staff people with underwriting experience that will tailor your bank application to meet the banks criteria. Of course they charge consulting fees but it could be well worth it.

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Old 11th April 2008, 05:34 PM   #7

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Hi there,

I would say that it depends on the amount of loan you are looking for and the assets of your business. I am talking in terms of personal lenders, ie business angels. Have you tried anything like this? I know this is probably not strictly an unsecured loan but they are a great way of funding your business.

You will have to have a good business plan in place to convince them though!

Hope you get it sorted.

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Old 11th April 2008, 06:53 PM   #8
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Ken Fenner
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Old 12th May 2008, 01:58 PM   #9

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hey peter
am sorry i wont be able to help you in the matter. as personally i have never been into this stuff.
as per my views i dont find it convenient. and preferably they should be avoided.

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Old 29th May 2008, 01:53 PM   #10

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If your a business that accepts credit cards, you can look into merchant cash advances. Hope this helps.

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