Unsecured Loans Rates

Are you planning on applying for unsecured loans? Do you have plans to settle some of the payables and obligations you have from the funds you will get from unsecured loans? If you are a new player in the industry, you need to understand that the rates of unsecured loans are higher than secured loans – and it’s because of the fact that they’re not secured.

Higher Interest Rates

Secured loans have some sort of security through a collateral that will get in between the lender and the borrower. In most cases, the collateral would be a property like a car, a house, or land and this will be dependent on how much the borrowed amount is.

Because unsecured loans have none of this, the unsecured loans rates are typically higher. This should not shock you because you’re being loaned an amount that you wish for without any type of protection for the lender.

Rates of Unsecured Loans

All rates are different, especially if you are to compare the rates of banks from online lenders, alternative lenders, and even business funding companies. Typically speaking, unsecured loans rates that banks ask for are somewhere around 5 to 36 percent. They’ll do their best to offer a more competitive rate but 5 percent is the lowest you can get – compare that to the 2 % you can get from secured loans.

Both banks and credit unions have the same level of perspective towards unsecured loans. So if you are looking for the best unsecured loans rates, then you need to widen your vision and look at business funding companies.

Many people don’t pay attention to what business funding companies can offer because banks make it look like they’re doing the best they can to give you the “best” you can get. When in reality, it’s not yet the best they can do.

With funding companies, you wouldn’t be required to haggle and to negotiate a lot. We’ll give you what you’re eligible for without you asking for it. You’ll see all of the eligible choices and options for you – you don’t have to wait for weeks just to get approved!

Business Funding vs. Banks

Banks might be your bread and butter when it comes to loans but it’s not the main option of people nowadays, especially small business owners. Banks have the longest processing time for application and usually, clients get their funds for a minimum of 90 day. Banks have no sense of urgency and they’ll tell you that this is because they’re working out a deal for you.

With business funding companies, you can expect the approval to happen within the next seven (7) days after your application. And, you can get the funds in less than 30 days!

We at SoFlo Funding, can help you with all of those perks – plus the added benefit of receiving funding of up to $300K! Get approved within 48 hours and get the funds in 14 to 21 days!

Why SoFlo Funding

We are not just the company who provides business funding – we’re just one of the players in the industry. But choosing us might just be the best option for you. Because with us, you’ll be amazed at how low our interest rates are!

Aside from that, we can also grant you more funding than you can expect! All we need for unsecured loans would be relevant information about your credit score or history, and if you are applying for a small business unsecured loan, then the rates can be even better!

You will never feel the need to find another lending company again – with SoFlo Funding, you can definitely apply for an unsecured loan and get the best and the lowest rates for it!