Month: November 2013

Small Business Loan Options: a Car Title Loan vs a Bank Loan

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Growing a company from the ground up is one of the most exciting ventures in the business world, and a lot of people are starting their own small businesses nowadays. Many wonder, “What is the best small business loan option?”

Traditionally, people go to banks when they need a front of cash to start their business, but there are other loan methods, too.   Another popular way to get money are title loans  because it is a much quicker and hassle-free way to get a big boost of cash. Check out some of the pros and cons to each lending method.

Getting an Auto Title Loan to spark a Small Business

A car title loan, also known as an auto equity loan, is a loan in which people use their vehicles as collateral for a quick cash. Because this type of loan is not backed up by credit like traditional ones are, borrowers can get the money they need without having their credit checked – allowing those with bad credit to get a loan and also speeding up the otherwise long processing period for everyone.

The reason title loans are so beneficial as a small business loan is because they offer perks that bank loans cannot. For example, auto title loan borrowers can:

  • Get up to $50,000 no matter what their credit or income is
  • Collect their cash in just 24 hours or less after applying
  • Design a repayment plan that is flexible and easy to manage
  • Apply from any computer or smart phone in 3 easy steps

If someone wants to start a business but they have bad credit racked up or strict time constraints to meet in order to make their ideas a reality, an auto equity loan is the ticket! It can provide the immediate cash needed in a short span of time, plus repayment plans are malleable to almost every situation.

Getting a Bank Loan to spark a Small Business

Now, there is nothing wrong with getting a small business loan from a bank, but it is not for every situation. When someone takes out a loan from a bank, there is often a series of applications to fill out on the spot in order to apply, and he or she will have to wait days to weeks for the results of the credit check. If that person does not have good credit, the bank will not approve the loan request.

Some small business ventures may be able to hold off for a few weeks or months while the entrepreneur waits on the bank loan to process, but others may have a small window in which to get the flames ignited in order for the idea to work. In this case, a quick cash auto title loan is the better option.

Research the Options

It is clear to see why auto equity loans are easier than banks when it comes to small business loans, but it is important for any small business entrepreneurs to do their research before settling on any one loan method. Fledgling small business owners should pinpoint what they need, and learn what opportunities exist to make great ideas happen!

Sometimes title loans are the best option, sometimes banks are, and sometimes other opportunities might blow these two options out of the water. The truth is that there is a solution to every problem and an option for every circumstance.

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What are the Benefits of Title Loans?

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A  quick and easy way to get cash is Car Title Loan, it’s a type of secured loan where the borrower’s car title is used as a collateral. The loan amount is dependent on the year, make, model and current mileage of the vehicle. Since auto title loans are secured, credit checks aren’t required and it doesn’t matter whether you have no/bad credit, facing foreclosure or bankruptcy.

Why Should I get a Car Title Loan?

Auto title loans are the fastest way to get cash you need now. Title loans are secured loans as the vehicle title owned by the borrower is held as collateral; therefore the interest rates are lower and they offer flexible payment options. Car title loans don’t require a credit check as the vehicle is held as a collateral, everyone is pre-approved whether they have bad/no credit. Even when a person has signed an agreement for a title loan, he/she can still keep the vehicle during the loan period. Plus, online application take less than 15 minutes to get a pre-approval quote and you can do it from the comfort of your living room by applying for it online.

How do I know what the right options are for me?

Car Title loans are for anybody who owns a lien free vehicle and needs cash fast. The recent economic downturn has affected people from different walks of life and many Americans are still struggling to make ends meet and are having a hard time living pay check-to-pay check. Title loans offer lower interest rates and flexible payment options, so you don’t get financially stressed out. Lenders understand the financial hardships and uncertainty faced by everyday Americans due to restricted lending options. We don’t require credit checks and it doesn’t matter whether you have bad/no credit, or facing bankruptcy we guarantee to pre-approve everyone.

What do I need to get the application process started

The online application process does not take more than 5 minutes; all you have to do is fill out the form and confirm your details. Our qualified title loans consultants will get you a pre-approval quote based on the information you have provided. You now can choose how you want to receive your cash whether you prefer direct bank deposit or pick it up from one of our conveniently located stores, just make sure you bring the following documents:

  1. Government Issued IDs (Driver’s License, State ID, or Passport)
  2. Proof of Residence
  3. Proof of Income
  4. Proof of Car Insurance
  5. Two References

Apply online today and get the fast cash you need!