$1 Million-Dollar Unsecured Loan
For occasions when you need large amounts of money in no time, you cannot rely on the traditional methods and lenders such as banks and insurances. Instead, you have to consider options such as accessing a $1 million-dollar unsecured loan or for the amount you require for the project.
Most traditional loans work with many terms and conditions that most businesses are not willing to meet or are unable to do so. But what stands out the most about credits is the amount of time it takes to receive the funds if you have yours approved.
It may be a good idea if you’re a business that meets the lender’s requirements and can wait for the funds to arrive in your bank account. However, in situations when you need capital and quickly, you cannot rely on options that take days or weeks. This is why both real estate investors, businesses, or just investors in other areas, decide to access unsecured loans since they are much quicker and easy to obtain.
The best part about them is that you don’t need to offer collateral in order to receive the funds, which is what usually worries most individuals and businesses. Instead, the lender will offer and approve the credit based on the borrower’s creditworthiness, which leads to requiring high credit scores in order to apply for one. With this clear, the amount you can access when it comes to unsecured loans varies depending on the lender.
Some private lenders, from whom you can usually—and sometimes, only—access this type of loan offer a limit that ranges from $100,000 to $600,000. This helps them to establish limits related to how the borrower will repay and if it was the right choice to approve the loan.
At Commercial Real Estate Loan Pros of West Palm Beach, we work with amounts from $250,000 to $1 million-dollar unsecured loans. We aim for this to allow businesses to access the required funds if they have the credit scores for it and make sure to relieve them from the weight of using collateral to access them.
This type of loan is riskier for lenders—us—since we don’t have any type of collateral or goods that will cover the repayment in case you miss the monthly ones. However, we make sure to choose the ones that meet our requirements and even exceed them so you can have funds in a matter of hours after your application.
What to do to access a $1 million-dollar unsecured loan?
Since the requirements and conditions vary according to the lender, we can only let you know how we work. In our case, we consider the credit score of the borrower 90% of the time and it’s pretty much what tells us if it is worth approving it. Now, we also consider other aspects such as personal and commercial finances and make sure to leave open alternatives in case you truly require the loan and have other ways to prove your worthiness.
For such a large amount as $1 million, we don’t vary the requirements established compared to smaller ones. Instead, you can access the loan if you provide the required documentation and make sure to show us your financial records along with the credit score. We don’t need anything else but to know about your business and the numbers we’re interested in.
Since the requirements are only a few, this is what makes unsecured loans to be so quick: you will have a reply within the first 24 hours and receive the funds in the next 48 hours after approval. In the case of going for a $1 million-dollar unsecured loan, we will take a bit longer to provide all the funds, but you will be able to obtain it in no time and guarantee you’re able to make your investment, acquire a new property, or cover the required expenses.
With this clear, we want you to know it is possible to apply for a loan if you don’t have a good or excellent credit score—which are the ones we are mostly aiming for. But the possibilities of having it approved are much lower if none in some cases. However, we’re open to any application regardless of the requirements we establish for this loan.
Why apply for a $1 million-dollar unsecured loan?
If you’re trying to figure out if you really need to go for this type of loan, especially of such an amount, we can give you a few situations:
- You need the money quickly to acquire a new property, equipment, or invest in new projects for your business.
- As an individual, you most likely want to purchase your own home or building to be an owner-occupant.
- If you’re a real estate investor, this will give you the opportunity to not miss a property you can invest in.
- Overall, if you need the money in no time and you don’t have collateral but you do have a good credit score, you should apply for it.
Unsecured loans are risky for lenders more than borrowers since you, the borrower doesn’t have much to lose in terms of collateral. However, we want you to know that our team at Commercial Real Estate Loan Pros of West Palm Beach can take legal actions if the terms and conditions of the loan aren’t followed and respected.
If you can agree with this, we will be waiting for your application. For it, you only need to contact us and our professionals will review your application. Since we only need your credit score and financial and personal records—not all the time for these last ones—you can apply anytime at any moment.
One of our experts will evaluate if you can afford the repayment or if you even qualify for the loan. If you do, you’re much likely to have it approved and be able to access the funds to deal with the expenses and projects at hand.
Applying for this loan will give you a lot of freedom and flexibility even with the monthly payments present since you’ll be able to worry less about losing other goods.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.
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: