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IOU Financial offers business loans of up to $1,500,000 that can help you to finance the next phase of your business with loans that allow you to react quickly to opportunities and to get access to capital fast.
Often, opportunities arise suddenly for business owners who might not have the time to wait weeks or months to see if they are approved for a bank loan, and IOU Financial is a great way for you to get the funds that you need quickly in order to finance a section of your business.
If you would like to obtain a business loan from IOU Financial, you must:
Business owners use IOU Financial Business Loan primarily for four purposes:
The first step to get a business loan from IOU Financial is to apply over the phone or online. When you do this, the company will tell you whether or not you qualify for pre-approval. Pre-approval depends on whether or not you meet the criteria for the loan which, as mentioned above, is:
If you successfully pre-qualify for the loan, IOU Financial will run your credit score through a soft inquiry, will verify all of your information and will then deposit the funds into your business bank account. This can take as little as 1-2 business days.
You will have the option to choose between weekly or daily payments on the loan. You can go with whichever option you believe is best for your business. There is no early repayment penalty, so if you would like to save money in interest payments by paying the loan off early, you can do this.
IOU Financial is a solid option when it comes to obtaining business loans. Not only does the company have an outstanding reputation, it has an extremely streamlined process for business owners to get small business loans. And as long as you meet the criteria, getting a business loan from IOU Financial can be very easy and stress-free. Because of this, many small businesses have chosen to use IOU Financial and have benefitted because of it.
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