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Find How to Get a Small Business Loan and What Are the Requirements


Getting a small business loan is easy: Know where to apply and how to qualify.

Internet is flooded with tons of information with regards to how to get a small business loan; some stressing on the difficulty of getting business funding and others bragging about the ease of obtaining one. However, the truth about 'How hard it is to get a business loan' or 'How to obtain a small business loan in 5 steps', depends on the type of loan you choose, the business lender you work with and the place where you apply for a business loan – whether online or in store. Having said that, none can beat local banks when it comes to availing a small business loan or line of credit. But, if you are turned down by banks and looking for easy to qualify and fast to get small business loans, then applying to alternative lending companies online is the suitable choice.

We at Fast Capital Online provide a streamlined online lending platform for you to borrow funds without any hassles whenever you need, via a single business loan application that is safe, secure, quick and convenient. In addition, unlike traditional business lenders, we involve simple requirements for business loans so that small merchants like you can qualify easily.

Here's how to get a business loan fast and easy:

  • Ask yourself “Why you need the funds”
  • Figure out how much loan amount do you need
  • How your small business will be benefited with the loan?
  • Compare all the small business loans available
  • Narrow down the right loan that best fits your business needs
  • Opt for an online business lender, if you need a quick loan
  • Check the business loan requirements
  • Go through the checklist for loan application
  • Keep personal, financial, legal details of your business handy
  • Apply (online), get approved and get the loan amount.

Simple Business Loan Requirements:

If your business is short of funds, a small business loan can help you get the financing you need to grow it and take it to next level rapidly. However, the small business loan requirements can seem discouraging. Know how to qualify for a business loan.

Business Loan Requirements

Following are the 10 most important business loan requirements:

  • 1. Time in business (minimum 6 months)
  • 2. Gross monthly business revenue (minimum $5000)
  • 3. Social Security Number (business owner's SSN)
  • 4. Business Federal Tax ID / EIN
  • 5. Financial statements (past 3 months)
  • 6. Personal debt-credit ratio
  • 7. Good personal credit score (not mandatory but helps)
  • 8. Lease agreement / Landowner's contact info (if rented)
  • 9. No open bankruptcies
  • 10. Personal income

Ensure to meet the mentioned business loan eligibility and apply online to Fast Capital Online for financing approval decision in few minutes. Obtain a small business loan now and get the funds online within 24 hours of loan approval.