$1 Million Dollar Unsecured Loan
Did you know that there are several financial institutions that can offer you a $1 million dollar unsecured loan? Yes, you’re not dreaming – you read that right. You can get an unsecured loan that can go as high as $1 million!
Now, if you’re thinking about getting this from the bank, no matter how many times you attempt and apply, it’s going to be difficult to be approved. That’s why you’ll only be able to get this type of loan from a few select lending groups and companies.
Before we dive straight into this topic, are you aware of what an unsecured loan is?
Understanding What an Unsecured Loan Is
Unsecured loans are the types of loans that you can get even if there’s no collateral backing it up. They basically get approved and OK-ed even if the borrower does not declare anything as security.
The term “unsecured” is a term for the lender as there’s no backup in case the borrower defaults on his or her payments.
Apart from unsecured loans, they’re also called good faith loans and signature loans.
How Do Unsecured Loans Work?
In a regular setting, the collateral would first be assessed and evaluated by the lender. This is how they can price and strategize for the loan or the amount they’ll be allowing the borrower to have.
On the other hand, unsecured loans wouldn’t need collateral. Therefore, it’s just a process of application > submission of documents and requirements > background checks > loan approval > disbursement of funds. Therefore, some of the drawbacks of taking out unsecured loans include:
- Higher than normal interest rates
- Tightened repayment period
- Less favorable terms
If you plan on purchasing an establishment, you run the risk of paying more than what you’ll actually make.
Qualifying For Unsecured Loans
Since there’ll be nothing put against the loan, the only thing that the lender would have is faith in the borrower. Therefore, one of the strengths that borrowers can have is a good credit standing.
A good credit standing is one of the main requirements of an unsecured loan. In addition to that, the lender would also ask for income proof of evidence or the inward cash flow of the borrower to see if he’ll be able to pay his loans back.
Getting a $1 Million Unsecured Loan
Not a lot of people believe it, but you can actually get a $1 million dollar unsecured loan. In most cases, these unsecured loans are given and provided by private money lenders, not the commercial banks we’re used to borrowing money from.
In case you’re interested in borrowing this amount of money, you’ll need to prepare for the criteria of being qualified for one. Here are the eligibility requirements and the criteria in order for you to be able to apply and be approved:
Probably the most influential factor to help you in getting approval would be a good-to-excellent credit standing. People who sit below the good mark have less than a 30% chance of being approved. Your business must make at least $10 million in annual revenue. This criterion is something that you can be exempted from, especially if you give projections and calculations. $1 million is something that businesses need –therefore, we can assume that this type of loan is open for business loans only. So, if you have a business, for you to be able to get a $1 million dollar unsecured loan, your business needs to be present and existent for at least two (2) years. Those are just a few of the most generalized criteria to be able to get approved for a $1 million unsecured loan.
Probably the most influential factor to help you in getting approval would be a good-to-excellent credit standing. People who sit below the good mark have less than a 30% chance of being approved.
Your business must make at least $10 million in annual revenue. This criterion is something that you can be exempted from, especially if you give projections and calculations.
$1 million is something that businesses need –therefore, we can assume that this type of loan is open for business loans only. So, if you have a business, for you to be able to get a $1 million dollar unsecured loan, your business needs to be present and existent for at least two (2) years. Those are just a few of the most generalized criteria to be able to get approved for a $1 million unsecured loan.
Where Can You Get a $1 Million Dollar Unsecured Loan?
Applying it with a bank can take a lifetime – the same goes if you to take your chances with the Small Business Administration (SBA) too. So, where should you go to be able to get this amount of loan? – Private Lending Companies.
Here in the state of Florida, we, at Florida Commercial Real Estate Loan Group, have approved dozens of $1 million unsecured loans to entrepreneurs and micro, small, and medium enterprises (MSMEs). More often than not, we allow businesses to apply for $1 million dollar unsecured loans if they meet or exceed what we’re looking for.
Unlike other shark loans and lending companies, our interest rates aren’t as high as the roof! As a matter of fact, we’re considered the go-to lender of many commercial real estate developers and businesses in the country!
Why Should You Work With Us?
- Low-Interest Rates
- High-Profit Margin (Because of Low-Interest Rates)
- Flexible Payment Schemes
- Easy-to-Talk to
- Complete Papers and Documents
- Certified and Licensed
These aren’t the only benefits you can get if you work with us – contact us and we will let you find out what advantages you can have for yourself! They say that your performance is your only real, legitimate marketing scheme – and that has never failed us in our time in business.
For years, we’ve only wanted one (1) thing – and that is for us to help out individuals and businesses; it is to be able to fund or finance their projects and their dreams. Florida Commercial Real Estate Loan Group makes dreams come true! In fact, several establishments in and around the state of Florida have been funded by none other than us!
So, if you’re looking for a $1 million dollar unsecured loan and you just don’t know where to go, you can bank and count on us here at Florida Commercial Real Estate Loan Group! We will never fail you with the different loans that we offer! Get the $1 million unsecured loan that you need fast, swiftly, and with the most value!
Reach out to us and we will send you a free sample computation and of the $1 million dollars unsecured loan you’re looking for!
We service all counties and cities throughout South Florida. However, if you need any of these services in other cities throughout the state of Florida, please contact us. See what services we offer below: