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Declined For Not Enough Collateral? Take these Steps

Has your business been declined for not having enough collateral?

Then choose from a small business loan that has 5 very flexible no collateral options.      Click on the Info Form below because fast as same day funding is just a click away.

You may still able to negotiate.   Lenders often want too much collateral and borrowers do not push back.   Sometimes lenders won’t accept high value vehicles because they need repair.   Use a truck repair loan to get broken down assets in operation again and qualify as acceptable collateral.

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Data Secure 15 Second Request Form Here.

Call 919-771-4177 for more info.

Business funding does not have to be hard to get.   Does your business have collateral or cash flow?   If so, there is a program that will fund your business. Requests for higher amounts are much more likely to be declined for the applicant not having enough collateral.     Denied for not enough collateral?  See Tips, FAQ questions and answers below.

Declined for not enough collateral: How to get your business loan approved
The most flexible business loan collateral options of all programs. If it can be used as collateral for a business loan, it will be!

 

Frequently asked questions FAQ declined for a business loan for insufficient collateral.

What does insufficient collateral mean?

You or your business did not have the assets that lender wanted to approve a loan. We specialize in funding business loans against collateral large and small using many asset types and with the toughest credit a borrower can have.

What can be used as collateral for a secured loan?

We can use equipment, vehicles, semi-trucks, trailers, and real estate for hassle free and quick funding.

What if I don’t have collateral?

A cash flow or unsecured loan can be approved. Pre-qualify immediately and get an approval and funding within hours in many cases.

Why do some loan companies want collateral?

To approve a business loan instead of declining it.   The lender can sell the collateral if a borrower defaults and recover what is owed to them. This lets them make more and higher offers.

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Proof of Insurance

What is Proof of Insurance?

Proof of insurance for collateral is required for many types of transactions and contracts, including business loans.  Apply Below for financing that do not require proof and has flexible features.

Click to Apply Securely Here!

Data Secure 15 Second Request Form Here.

Call 919-771-4177 for more info.

A business owner is approved for a working capital request.   One of the requirements for closing is to show comprehensive insurance.  For companies without insurance on collateral, consider other programs that do not require it.

What can you do if you cannot show Proof?
Consider low cost programs to show the insurance you need.   This is probably the best option for example when you need to get business funds soon and are already approved.

Proof of Insurance
Does your Transaction require Proof of Insurance

Get a different type of funding for which you may not need to show full casualty Insurance, including a Bank Statement Loan, an Accounts Receivables financing, and also money based on listed stocks.

Why is Insurance needed and can it be waived?
If a policy is needed to complete a Transaction, it will not likely be waived because the Lender needs collateral insurance.
It policy covers the replacement cost of the Asset and the Lender may be approving it based on the asset.  The Lenders needs proof of a policy because if the Collateral is damaged, a total loss or stolen, the Lender cannot recoup their losses.   If the Lender cannot get this, they probably would not have issued an approval.

So if you cannot get and afford full coverage, you can also look at other options.

The following are frequent requests and statements:
– I do not have full insurance on my Collateral.
– My collateral does not have a policy on it.
– We are looking for a business loan without casualty coverage.

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