IRVIN, CA – Dec 24, 2015 – Pajama maker startup BedHead Pajamas was experiencing rapid growth quickly and needed fast access to capital to buy more materials.
They turned to a leading business lender ForwardLine, and about a day later, they had obtained a $130,000 loan, on their way to a half million dollars in sales for the year.
In the first half of 2014, half of all small businesses that applied for credit were denied, according to a regional Federal Reserve Bank survey.
One of the most common reasons? Insufficient collateral to secure loans.
The result? Nearly half of those companies said they had delayed expansions.
Personal Lending Group, an Irvine, California based company is helping companies just like BedHead Pajamas grow despite their cash flow issues. They’re doing their part to help grow the economy by easing small and medium sized businesses paths to credit. They’re proud to partner with ForwardLine to connect you with small business loans that don’t require any collateral.
All you need to qualify is monthly credit card sales volume of $3,000 and to have been in business for at least a year. If you meet those two simple criteria, you prequalify for a loan from $5,000 to $150,000.
A recent Federal Reserve survey also found that searching for credit was time consuming for small businesses. On average, firms spent 26 hours searching and applying for credit, contacted three financial institutions, and submitted three credit applications.
Personal Lending Group has designed a process to be as convenient as possible because time is valuable. Business owners can have their money deposited in their account the next day. That kind of fast access can help bridge the gap between your cash outlays and receivables, as you often have much-needed cash locked up in customer invoices that aren’t payable for 30 days or more.
Distributed by Press Release Jet
Company Name: Personal Lending Group
Contact Person: Mark Smith
Phone: (855) 575-3822
Country: United States