Frequently Asked Questions
Our established reputation for delivering exceptional service and results inspires confidence among businesses seeking reliable financial solutions.
( Unsecured Business Loan )
1. What is an Unsecured business loan?
What is an unsecured business loan?
An unsecured business loan is a type of financing that doesn’t require collateral, providing businesses with funding based on their creditworthiness.
An unsecured business loan is a type of financing that doesn’t require collateral, providing businesses with funding based on their creditworthiness.
2. How much funding can I apply for?
Loan amounts vary but typically range from $10,000 to $500,000, depending on your business’s financial health and needs.
3. What is the interest rate for unsecured business loans?
Interest rates can vary. The rate is influenced by factors like credit score, business performance, and loan term.
4.What are the eligibility criteria?
To qualify for unsecured business loans, your business should have a minimum operational history of six months, with a consistent monthly turnover averaging at least $10,000. These criteria ensure that your business is established and exhibits a level of financial stability.
5. How quickly can I get approved and receive funds?
Upon submission of necessary information and supporting documents, our streamlined processes allow for swift approvals, with funds potentially disbursed in as little as 24 hours.
6. Do I need to provide collateral or a personal guarantee?
Unsecured loans don’t require collateral, but some lenders may ask for a personal guarantee.
( Line Of Credit )
1.What is a line of credit (LOC)?
A line of credit is a flexible form of financing that provides businesses with access to funds up to a predetermined credit limit. It functions similarly to a credit card, allowing you to borrow and repay funds as needed, with interest only charged on the amount borrowed.
2. What are the benefits of a business line of credit?
A business line of credit offers flexibility, allowing you to access funds when needed without having to apply for a new loan each time. Additionally, you only pay interest on the amount borrowed, making it a cost-effective financing solution for managing working capital, covering unexpected expenses, and seizing growth opportunities.
3.What are the eligibility criteria for a line of credit?
Eligibility criteria for a line of credit may vary depending on the lender and the specific requirements. Typically, lenders consider factors such as your business’s creditworthiness, revenue, time in operation, and financial stability.
4.What are the eligibility criteria for a line of credit?
Eligibility criteria for a line of credit may vary depending on the lender and the specific requirements. Typically, lenders consider factors such as your business’s creditworthiness, revenue, time in operation, and financial stability.
5. How much can I borrow with a line of credit?
The credit limit for a line of credit depends on factors such as your business’s creditworthiness, revenue, and financial stability. Lenders may offer credit limits ranging from a few thousand dollars to several million dollars, depending on your needs and qualifications.
6. Is collateral required for a line of credit?
Collateral requirements for a line of credit may vary depending on the lender and your business’s financial situation. While some lines of credit may be secured by collateral such as property and equipment, others may be unsecured, based solely on your creditworthiness.
( Secured Business Loan )
1. What is a secured business loan?
A secured business loan is a type of financing that requires collateral, such as real estate, equipment or inventory to secure the loan. This collateral provides the lender with assurance that the loan will be repaid, reducing their risk and often resulting in lower interest rates compared to unsecured loans.
2. How much can I borrow with a secured business loan?
The loan amount can range between $10,000 to $5M but also depends on factors such as the value of the collateral provided, equity available on your property, your business’s financial health, credit history, and the lender’s policies. Typically, secured loans allow for higher borrowing limits compared to unsecured loans due to the reduced risk for the lender.
3. What are the benefits of a secured business loan?
Secured business loans often come with lower interest rates, longer repayment terms, and higher borrowing limits compared to unsecured loans. Additionally, securing the loan with collateral may increase your chances of approval, especially if you have less-than-perfect credit or are a newer business.
4.How long does it take to get approved for a secured loan?
How long does it take to get approved for a secured business loan?
The approval timeline for a secured business loan varies depending on factors such as the complexity of your application, the value of the collateral, and the lender’s processes. Generally, secured loans may take longer to approve than unsecured loans due to the collateral evaluation process.
The approval timeline for a secured business loan varies depending on factors such as the complexity of your application, the value of the collateral, and the lender’s processes. Generally, secured loans may take longer to approve than unsecured loans due to the collateral evaluation process.
5. How long does it take to get approved for a secured loan?
The approval timeline for a secured business loan varies from 5 to 10 days depending on factors such as the complexity of your application, the value of the collateral, and the lender’s processes. Generally, secured loans may take longer to approve than unsecured loans due to the collateral evaluation process.
6. Are there any fees associated with secured business loans?
We do not charge you any fees to apply with us; however, depending on the lender and the specific loan agreement, there may be legal fees and service fees associated.
( Debt Consolidation )
1. What is debt consolidation, and how does it work?
Debt consolidation involves combining multiple debts into a single loan with a lower interest rate or more favorable terms. This process simplifies repayment by reducing the number of payments and potentially lowering the overall cost of debt.
2. What determines the amount of debt I can consolidate?
The amount of debt you can consolidate varies depending on the specific product chosen. For secured consolidation, it relies on the available equity in your security. On the other hand, for unsecured consolidation, it hinges on the cash-flow and the strength of your business.
3. Is it possible to obtain funds for cash through consolidation?
Depending on the features of the various products we offer, yes, you can access additional funds for cash flow
4.What is the typical timeframe for approval consolidation?
What is the typical timeframe for approval of a consolidation?
Approval time varies depending on the product selected. It can range from as quick as 24 hours to potentially up to 7 days.
Approval time varies depending on the product selected. It can range from as quick as 24 hours to potentially up to 7 days.
5. How are payments made to the lenders I owe?
Depending on the product, you have the option to either make payments directly to the lender yourself or facilitate a direct transfer to your existing lender through our various products.
6. What is the repayment process for my debt consolidation?
Repayment typically involves making weekly payments. These payments may be at a reduced amount, depending on your consolidation amount and spread over a comparatively longer period of time to support business cash-flow.
Why Businesses Rely on SwiftCap
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Our team offers personalized guidance and strategic advice tailored to your financial needs.
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Flexible Options
Adaptable strategies to accommodate changes in your financial landscape
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Allow us to discover the financial solutions that perfectly align with your aspirations, ensuring they meet your business goals