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How Long Does It Take to Get Unsecured Business Financing?


Once a small business owner has decided that it’s necessary to secure outside financing in order to keep his or her company moving forward, it’s time to figure out which financial vehicle makes the most sense for the company’s specific situation.

When money’s tight, however, small business owners don’t exactly have the luxury of waiting around for a long time to get the money they need to grow their companies. Instead, they need cash quickly.

While many small business owners might think that they’re best off going to the nearest bank and asking for a loan, that couldn’t be further from the truth. In the aftermath of the 2007–2008 financial collapse, banks are funding fewer and fewer small businesses. And even in the event that a small business is lucky enough to have its loan application approved by a traditional banking institution, it can take as long as two or three months before money is finally available.

Who can afford to wait that long?

The good news is that small business owners who need outside funding and don’t have any time to spare have other options. By applying for unsecured business financing—loan vehicles that don’t require small business owners to put up any collateral to secure them—they can gain access to the money they need to fund their companies in as little as a few business days.

Here’s how the process works.

To obtain unsecured business financing, applicants first need to gather some documentation.

But don’t worry—it’s nowhere near as extensive as what typical banks would request. You just need some basic business information (e.g., what kind of company you are and the date you incorporated), business contact information, annual revenue estimates, ownership information, and a few months’ worth of bank statements.

Once you’ve gathered all that information, you can complete the application process in as little as 15 minutes! And once your application is approved, money can be deposited into your business’s bank account in as little as 24 hours.

In other words, unsecured business financing is some of the fastest financing available to small business owners.

And—compared to other kinds of financial vehicles that require you to earmark loans for specific purposes—unsecured financing is much more flexible by design. You can essentially use it however you want as long as your investments are designed to benefit your business.

Here are some ideas for how to invest your business loan:

  • Remodel your office or restaurant
  • Hire additional employees
  • Invest in marketing initiatives
  • Open an additional location
  • Build new products
  • Expand into new markets
  • Buy new technology, equipment, or machinery
  • Launch promotions and giveaways
  • Spruce up your website
  • Develop your own app
  • Send your employees to trade shows, conferences, and workshops
  • Plan team-building activities

No matter how motivated you are, you can’t take your business to the next level if you don’t have any money to invest in growing your operations.

If you’re a small business owner who’s run into some financially challenging times, don’t be so hard on yourself. Many small business owners like you have faced similar experiences over the course of their careers. Instead of letting those challenges prevent them from achieving their dreams, they’ve made creative decisions to gain access to the capital they need to continue delivering value to their customers.

Is your small business facing a cash crunch? We’re here to help. Apply for unsecured business financing today and get the money you need to grow your business tomorrow.

There’s no sense in waiting any longer than is absolutely necessary to solve your company’s financial problems. With a loan on hand, you can stop worrying about what needs to be done to meet your monetary obligations every month and start directing all of your energy to growing your business and providing even better service to your customers.

Good luck!