Who Are The Best Candidates for Unsecured Loans?
Who Is The Best Fit for an Unsecured Bank Loan?
If you work with current and prospective business owners, you’ve probably heard about unsecured bank loans. These loans offer quick funding—typically within 30 days—without requiring your client to pledge personal collateral. That sounds great, right? But which of your clients actually qualify for this type of financing? Let’s break it down.
The Ideal Candidates for an Unsecured Bank Loan
Not everyone will be a perfect fit for an unsecured loan, but if your clients check these boxes, these loans might just be the perfect fit!
1. Clients Looking for an Alternative to SBA Loans
SBA loans can be fantastic, but they often come with a long, drawn-out approval process, heavy documentation requirements, and, in many cases, collateral obligations. If your client needs funding fast and don’t want to deal with the red tape, an unsecured bank loan could be a great alternative.
2. No Collateral? Great - Not Required!
One of the biggest advantages of an unsecured loan is that your clients don’t have to pledge their house, car, or other personal assets as collateral. If you have a client who wants to minimize personal risk while still accessing capital, this program is for your client.
3. You Need Fast Funding
Unsecured loans typically fund in about 30 days, whereas traditional loans—especially SBA loans—can take months. If your clients have an urgent business opportunity or need fast working capital, unsecured loans provide a streamlined solution to get your clients the cash they need quickly!
4. Strong Credit Profile
Because these loans are unsecured, lenders rely heavily on your creditworthiness. The best candidates have:
A good credit score (typically 700+)
A strong revolving credit history
Low credit utilization (keeping credit card balances low is key)
If your client’s credit score is in good shape and they maintain responsible credit habits, they’re more likely to be approved for an unsecured bank loan.
5. Verifiable Income
Lenders want to see that your clients have the means to repay the loan, whether through a steady W2 income or self-employment earnings. If your client is self-employed, having two years of personal tax returns to verify their income will make the process smoother.
Is an Unsecured Loan Right for Your Clients?
If your clients are looking for a fast, flexible loan option without the hassle of pledging personal collateral, an unsecured bank loan might be the perfect fit. We specialize in Unsecured Bank Loan Funding. Partnering with us means you and your clients don’t have to navigate the process alone. Flourish Commercial Capital is here to help you secure the funding your clients need to start and grow their businesses.
Ready to explore unsecured financing options? Contact us today, and let’s get started on making your clients’ business dreams a reality!
