Are you thinking for a business start-up, but don’t have sufficient capital for it? Well, in that case, it tends to be quite hard to borrow money from a bank or other conventional loans. Receiving a loan from a traditional bank to lift up your business may be difficult as they usually prefer those who have good credit and a strong financial history.
If your business is at its very beginning, it will be difficult to prove that you are a reliable candidate for a large unsecured loan. One alternative is applying for car title loans, which will be readily available to you regardless of how uncertain your borrowing history is.
Car Title Loans are the perfect solution!
These types of loans have quick approval for a certain amount. Car title loans are one type of quick-approval loans. With the assistance of these loans, you’re able to receive the money you need faster in comparison to a conventional bank loan. The idea for you is that you can use the loans for acquiring new business start-up and use the profits to repay the loan as soon as you can.
Getting a car title loan is way easier than borrowing money from other sources. It allows you to acquire the cash you need based on the value of your car, truck or motorcycle. The best part is you can continue driving your car or vehicle during the loan. With greater flexibility and fast application process, these loans may be the perfect solution to help in financing your business. Nevertheless, there are a lot of ways to acquire fast cash, but one of the quickest ways is through a car title loan.
How to lend money with your car title?
It’s incredibly easy to get a car title loan even if you have bad credit or no credit at all. The title to your car is being used as collateral rather than your credit history. So, when you give your car title, you get cash. For car title loan services, the vehicle’s title is required to approve you for a loan. Once you pay back the loan, you get your car title back. A car title loan is a simple way to get the money you need instantly.
There are few good reasons why you should apply for car title loans and how are they beneficial to people who are looking to start a business:
Quick to Apply
Unlike other traditional bank loans where you are likely to go through a bit of lengthy and tedious work, car title loans can take just minutes to apply.
You need to provide a lien-free title of your vehicle to qualify for the loan. When you apply for such loans, there are few requirements you need to give to qualify:
- A valid Driver’s License
- A clear title in the name of your vehicle
- Proper Registration and Insurance of your vehicle.
- A valid government-issued id
- Spare keys to your car
You can expect to be approved and get your cash in hand within an hour if you apply for car title loans. This thing is the prime dissimilarity between car title loans and conventional loans, which can take a prolonged time to get approved.
You can still use your vehicle.
One of the primary concerns of these loans is that you do not have to fear about giving your vehicle. What you give to the lender is the title of your car, which means you can still use it for business operations. You are allowed to keep the vehicle during the loan duration and just surrender the title of your car to the lender. In case you fail to pay back the loan on time, the lender can repossess your vehicle and sell it to recover the loan amount.
How can you get funded for car title loans in just three easy steps?
Call or Apply Online: It will take a few minutes to tell the lender a little about you and your business.
Get Approved: You can receive a quick decision once your application is approved.
Get Funded: Receive your funds directly in your account in a few hours as possible and get extra financing for your business when you need it.
How does the lending process work?
It takes a few minutes to get the money you need. Here’s how it works:
- You need to bring your vehicle and lien-free vehicle title.
- Fill out an application where you get a quick approval
- And then you will get to know the desired amount based upon your needs and the estimated value of your vehicle.
- After approval, you will get the money you need and retain the use of your car or motorcycle.
- Once you repay the loan, you get your title back.
When Should You Use Car Title Loans For Business Purposes?
Being a business owner, you have to analyze all convenient options as you make a decision, especially when that conclusion will influence the entire company. One of the exciting opportunities is using car title loans to help out the business. This is where you use the title of your car as collateral to get the funds. You need to own a car for this option to be considered.
So if you are looking for a business start-up, then car title loans are one of the most convenient options you can go for.