Unsecured Business Loans - Business term loans

Get an unsecured term business loan of up $350,000 from GoKapital

For Small business owners and Entrepreneurs, GoKapital is now offering conventional, fixed rate term loans in between $20,000 and up to $350,000. Our terms range from 1 to 4 years, with rates from 9% to 20%, and monthly/bi-weekly payments. With approvals in 24 hours, this is a great alternative to traditional bank lending.
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Let our unsecured business loans help your business grow. Whether you’re looking to expand, purchase inventory, hire more employees, or refinance existing debt, a GoKapital business term loan is an excellent solution.

Our program provides qualified borrowers with affordable terms and minimal documentation. Our loans are aimed at businesses that don’t want to risk their assets or don’t have any collateral to put up for the loan.

Have Questions? Give us a call at 1-866-257-2973 or visit our office in Miami. 

UNDERWRITING GUIDELINES

Requirements for unsecured term loans between $100,001 and $199,999

Annual Sales Minimum of $100,000
Time in Business 1 Year
 Industries All but restricted
 Available Term Lengths 1 – 3 Years
 Minimum FICO 660 Experian
 Bankruptcy/Foreclosures None in last 2 years
 Payment History No current or past due payments in the last 12 months
 Bank Statements 3 Months of Bank Statements
 Existing Merchant Cash Advance
Business must have at least 5 years of operation, and only 1 existing Line of Credit or merchant cash advance, with a max balance of $100K.
Debt Schedule Debt Schedule – only for debt refinancing requests / MCA

Requirements for business term loans of $200,000 and $350,000

  Annual sales Minimum of $750,000
  Time in Business 5 Years
  Industries All but restricted
  Minimum FICO 720 Experian
  Bankruptcy/Foreclosures None in last 2 years
  Payment History No current or past due payments in the last 12 months
  Existing Merchant Cash Advance None allowed
  Available Term Lengths 1 – 4 Years
  Bank Statements 3 Months of Bank Statements
  Tax returns 2 Most Recent Tax Returns
  Financials Year-to-Date Financials
  Debt schedule Complete Debt Schedule
  Additional Documentation: Personal Tax Return $250K+ & Underwriter Discretion

How To Apply for a Term Business Loan with GoKapital?

  • Step 1.

    Complete the business loan application form
    Fill the loan application form with basic details like your name, business name, industry type, business address, and other details of your company.

  • Step 2.

    Please take a look at the list of requirements, as the types of documents needed will vary based on the loan amount. But at a bare minimum, we will require the 4 most recent months of business bank statements.

  • Step 3.

    Approval process
    After completing the loan request form and providing the necessary documentation, you will receive an e-mail notifying whether you’ve been approved, if more information is needed, or if the term loan was declined. In the event of a decline, our loan specialists will work with you to identify other possible financing options.

Get approved for a low rate, unsecured business loan!

Gokapital’s Term Business Loans Features

Take a look at some of the features that our term loan program has for you:

Rates starting at: 9%
Payments: Monthly
Terms: 1 to 4 years
Loan Amounts: $20K – $350k
Time to Fund: 1-3 business days
Time in Business: 1 year
Annual Gross Revenue: $100K
Credit Score: 660+ (Experian)
Bankruptcies: Over 2 years ago

What documents are required to apply for a term business loan?

3 months of business bank statements
Profit & Loss and Balance Sheet (for requests over $150K)

What are Unsecured Business Loan?

An unsecured business loan is a funding solution that is issued and supported based only on the creditworthiness of the borrower and does not require any business or personal property or collateral to secure the loan. These types of loans require the borrower to show a good credit score, excellent financial history, and sufficient cash flow.

Gokapital offers three types of business loans; Small business term loans, Business Lines of Credit, and Merchant Cash advance.

Preferred Industries And Businesses

Healthcare
Pet Care
CPAs
Lawyers
Engineers
Hotels & Motels

Machine Shops
Funeral Homes
Auto Repair Services
Manufacturing
Technology-Related (IT)

Child Care
Restaurants/Bars
Liquor Stores
Gas Stations
Convenience Stores

Other Personal
Professional Services
Breweries
Distilleries
Dry Cleaners
Agriculture/Farming

Restricted Industries

Certain industries and business types will not be eligible for this program. Examples include: used or new car dealerships, banks and other lending/financial institutions, insurance carriers, mortgage companies, money service businesses, adult entertainment, cannabis related businesses, non-profit entities, government entities, and gambling services. Businesses in Nevada, North Dakota, and South Dakota are also ineligible for the term loan program.

When banks say no, we say yes!

Once your documents are received, our loan consultants will review them and issue approval within 3 business days

Let GoKapital’s  loan programs contribute to your business success. 

Our programs are a better alternative to bank loans, because we require minimal documentation and approve much more quickly.

With an unsecured business term loan from GoKapital, you can access up to $350,000 in working capital for any business purpose. Banks typically have very strict requirements, require extensive paperwork, and can take weeks (or sometimes even months) to approve. With GoKapital, we make business lending simple.

See why GoKapital’s unsecured business loans are different

✔  We offer the best alternative for small and medium-sized companies who need funding to handle unexpected expenses or simple need immediate access working capital.

✔  We also offer financing options for business owners that do have collateral, including real estate, equipment, and machinery.

Pros and Cons of Unsecured Business Term Loans Loans

Pros

✔ Fast funding
✔ Fast approvals
✔ No Collateral Required
✔ No business plan required
✔ Many industry types funded
✔ Online process
✔ The funds are wired directly into your business account

Cons

✔  You may not qualify if you have other business loans
✔  Higher credit score needed
✔  More requirements than a merchant cash advance

Real Customer
& Reviews on Google

4.2 Rate

Other types of Unsecured business loans

Business Term Loans Frequently Asked Questions

Here are the answers to the frequently asked questions about unsecured business loans and business term loans.

A. It is a type of loan that requires no collateral and lends against the cash flow of your business.

A. A business term loan, also known as traditional business loan, is a lump sum of capital that you pay back in regular installments at a fixed interest rate, over a period of 1 to 5 years.

A. A line of credit (LOC ) is a financial product with a preset borrowing limit that can be used at any time. The borrower can withdraw funds out as needed without going over the limit. as money is repaid, it can be borrowed again

A. A merchant cash advance (or “MCA”) is an advance against future credit or debit card sales. This type of business financing is mainly for businesses whose revenue comes primarily from credit and debit card sales, such as restaurants or retail shops.

A. A fixed-rate term loan, also called just a term loan, is a type of loan where the interest rate stays the same for the loan’s entire term.

A. If you don’t have the assets to secure a business loan, an unsecured business loan may be your only option. You can get an unsecured business loan with Gokapital, just send us the last three month of business bank statements and fill out an online application. We will reply within 24 hours.

A. If your loan goes into full default, it means that your business credit score can be damaged. This can severely affect your ability to receive credit in the near future. If you’re in danger of defaulting, please contact us in hopes of working out a repayment plan.

A. Having a bad business credit score can be a great obstacle to receiving business funding. The first thing you should do is try to fix your business credit. While you fix your credit, you could either apply for a short-term secured loan. Gokapital has options for every situation, contact us and we will do our best to help you.

A. With Gokapital, you could get approved within 24 to 48 hours and get the funds in 1 – 3 business days.

A. Having a bad business credit score can be a great obstacle to receiving business funding. The first thing you should do is try to fix your business credit. While you fix your credit, you could either apply for a short-term secured loan. Gokapital has options for every situation, contact us and we will do our best to help you.

A. With Gokapital, you could get approved within 24 to 48 hours and get the funds in 1 – 3 business days.

A. Not for this type of loan. An unsecured loan is a type of financing where the borrower doesn’t have to put any collateral.

A. To qualify for one of Gokapital’s Term loans, you need to have minimum annual sales of $100,000, at least 1 Year in business, and a minimum credit score of 660.

A. The last three months of business bank statements.

A. Gokapital offers terms of terms of 1 to 4 years

A. We offer business term loans with rates starting at 9%. Your final interest rate for a business term loan will depend on your creditworthiness, your credit score, cash flow, time in business, etc. Contact us so that we can evaluate your situation and give you a free no-obligation quote.

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