Can African-Americans Get Business Loans from Lenders in the States?

Business Loans for African AmericansBeing one of the largest and most successfully developed nations in the world, the United States sees a lot of its people wanting to start businesses of their own. However, due to the huge number of individuals wanting to apply for loans with traditional lenders, many of their applications get turned down. Traditional lenders face a lot of rush in the States and hence cannot manage to fund everyone who applies. That’s why, a number of people are left with rejections.

Business loans from online lenders came into being for the same reason. Just like traditional lenders, they do not see race, colour, religion or gender. As long as a borrower meets their eligibility terms to qualify as a trusted applicant, getting a loan from an online lender is fairly easy.

Every individual be it from any race, including African-Americans are welcome to apply. At BusinessCapitalUSA, we offer funds to people of different races without any discrimination of colour. We understand that there may still be lenders who offer funds only to a certain race, but they may not be official lenders. Such lenders may have been in the market for decades and may be used to offering money only to a particular segment of people. However, official and registered lenders like us do not believe in doing so.

Do African-Americans have to go through credit checks with us?

No. Our terms are the same for every borrower, so when we say that we do not conduct hard credit checks, that fact applies to everyone. Sure, we offer loans in the States, but our rule isn’t to cater solely to the white.

Our loans are offered to everybody residing in the United States. So, whether you’re 100% American, African-American, Indian or from any other culture or race, you shall be funded by us as long as you reside in the United States. However, you shall be funded depending on which state you reside in, as each state may have a different policy regarding online lending.

How Does a Borrower Qualify with Us?

Our eligibility terms are very simple. As long as you can show proof of your business being located in the States, you shall pass the first step of being funded. Also, your business should be at least 1 year into its operations, as we do not fund those who haven’t yet started. Once you show us your revenue generation report, that shall be the basis of getting funded by us.

Since we do not conduct hard credit checks, we evidently do not depend on credit scores. Hence, we instead rely on proof of revenue by a business which shall prove the individual’s ability to repay. Our loans work similar to that of payday loans wherein a borrower’s income proves his/ her ability to repay, and how much s(he) shall receive from the lender shall depend on how much the borrower earns on a monthly basis.

Is Collateral Required?

Whichever race you may belong to, our rules and terms are the same for everyone. We do not ask a certain race for a particular document and ignore asking for the same from a borrower of another race. Irrespective of who you are and which background you may be from, you shall not have to offer collateral to our team. We do not ask borrowers for security in order to help them grow their business. Unlike traditional lenders who do, we do not wish to make life tough for our borrowers. You may not have a penny to spare or may have plenty, but we shall not ask you for security at all. As long as you meet our basic eligibility terms while proving that you generate enough revenue versus what you may have to repay, you shall qualify for an small business financing with us.

Online Business Loans from BusinessCapitalUSA

The best thing about applying for a business loan with BusinessCapitalUSA is that you do not have to go through the hassle that traditional loans require you to. You can avoid all the travel, the queues and the paperwork by choosing to apply online with us. Our online platform is open to everybody and borrowers are welcome to apply at any time, depending upon their convenience. Now you don’t have to leave your business mid-operations just to apply for a loan. You can get a business loan at fairly affordable rates online itself, just at the tip of your fingers.

Also, the amount approved by us for your business shall be directly transferred into your checking account and shall not require you to come down to a store in order to collect your money. Our loans make life fairly easy for most, and everybody is welcome to apply for them as long as they meet our simple eligibility terms barring caste, creed, culture, religion and race.