To setup a business you are always in need of money. Loans are a great way to get money for business purposes. Most of the banks offer business loans. However, all of them are not same. Some of the banks offer loans on strict conditions with the huge Annual Percentage rate (APR) that is the amount of interest you have to pay annually. There are many hidden penalties that they won’t disclose to you until you are charged for them. Taking loans for a trade is a very complicated task because of the lengthy procedures of approval and funding.
Short term business loans are offered by many companies/Banks that have no lengthy payments processes. These loans are easy to give back in monthly payments or yearly returns. There are many ways to apply for a loan online.
A company named as “Refinance on Deck” provides financing services for your business. They offer loans to business owners at very conventional interest rates and conditions. The loans are offered for 3 to 10 years. It provides alternatives to On Deck, Rapid Advance and CANN Capital short term loans. Loan options include 3 to 5 year loans with low APR of 6.99%. 7 to 10 year loans are available with 5.99% APR. The 10 year loan program have 12.99% APR. All these loans are offered on monthly payment basis.
The borrower is required to be in business for 2 years with a credit score of 635. The annual sales of his business must be around $350,000.00. Loan procedure is a simple one.
Procedure for getting any kind of loan is simple. First you have to apply for the loan from the company’s website www.refinanceondeck.com. The application consists of just one page requiring simple details of the applicant. Another way to apply is through calling the company’s representative. He can guide you all about the terms and conditions and lets you apply on phone. You can tell him how much amount you want and for what business you are using it. He can help you in finding the best funding solution for you. Once you have applied, within one day your pre-qualification quote will be produced. You will receive your funding within 3 working days. If you have any queries in your mind, feel free to ask from the diligent customer support center anytime you want.