At Fundygo, we can help you secure funding against your residential real estate. As you may already know, using real estate offers truly unique business funding options for small business owners, including startups.
Our network of partners consists of a large number of lenders to increase the likelihood of securing commercial real estate secured financing that fits your needs.
Get Your Business Going
For the small fledgling business or startup seeking secured funding for their new venture, it can be difficult finding a lender keen on taking a risk on a business that doesn’t have an established financial portfolio. That’s why many small businesses choose a residential real estate securing funding solution. When applying for this type of loan, the borrower uses their existing residential property to as collateral for their business. Lenders are much more accepting of applications which leverage residential real estate as a form of securing capital.
You may be wondering, do I qualify for Fundygo’s Residential Real Estate Secured Funding? The answer to that question is most likely yes; real estate secured loans are one of the easier equipment and small business loans to qualify for. The full amount you may be able to borrow and the interest rate you’ll pay on your loan over time depend on a number of variables, but not the least of which is your value of the equipment or merchandise you’re putting your funds towards, as well and the estimated longevity of equipment or items. Additionally, personal finances, credit score and history, and the categorical industry that your business falls under also has a large bearing on the size and scope a lender is willing to take a risk on. Due to the secured nature of this loan type, repayment plans and rates can be flexible depending on the lender. If you’re willing to take the next step to give your business the boost it needs to get off the ground, a Real Estate Secured Loan may be the best choice for you. With our fast and easy online loan process with an average turnaround time of 24-48 hours, getting funding for your small business has never been easier. During the application process you’ll need to provide your business records and documentation, submit your credit score, tax returns, bank statements, business checks (voided) and your driver’s license, among a few of the requirements needed to submit an application to a lender.
Rates & Terms
The benefits of a Residential Real Estate Secured Loan comes at a lower premium due to the secured nature of using your real estate as collateral for the lender. This loan type can be funded with low credit score minimums, very little or no revenue documentation, no required minimum time your business has existed, and still features low rates and attractive benefits. As far as rates go, 8%-30% is the expected average for a fixed rate loan depending on the length of the repayment plan as well as the life expectancy of the equipment or inventory you’re putting your loan towards. The normal maximum set on Residential Real Estate Secured Loans is 10 years, and extensions past that point are rare but can be granted by a generous lender whom with you’re on good terms.
Is a Residential Real Estate Secured Solution Right for Me?
You may also be deciding if a Residential Real Estate Secured Loan is right for you. If you’re an individual owner of a sole proprietorship or the CEO of your own small company, then this loan type may absolutely fit all the criteria you’d need for short-term and long-term business financing. Additionally, there are SBA type loans that are flexible in their use of collateral that may parallel many of the features of this loan type, but ultimately its best to reach out to our experts to see which loan type best suits your need and which you’re most likely to qualify for. SBA loans can have a higher threshold in terms of credit requirements and documentation, but they do have the added benefit of being federally backed. This means even lower fixed interest rates and more guidelines and restrictions on the part of the lender, equaling more protection for you as the borrower.
Make that Last Push
Whether your business is just starting or needs that last push to achieve success among increasing client demands, market expansion, or close a production loop, reach out to Fundygo today and let one of our financial representative guide you through all of the options available to you, and assist you in finding exactly the right type of loan for your business. We know the wide variety and options of loans we offer can become overwhelming, which is why we offer hands-on customer service and assistance. We can help you take care of every aspect of your capital acquisition needs, as well as prepare and process all of the documentation needed to submit a loan to a lender and land the best funding for your operations, regardless of if you’ve decided on a loan type or not. Don’t wait, reach out to one of our financial experts today and gain the equipment and inventory your business needs to be highly successful in a competitive market.