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 Unsecured Loan Companies - Unsecured loan companies, such as Eskimo Loans, the Unsecured Personal Loans Company and the Easy Loans Shop, provide unsecured personal loans at reasonable rates.
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Unsecured SBA loans (Small Business Administration) are a way for businesses who would not qualify for loans through the normal lending channels to borrow money to get off the ground.
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Unsecured SBA Loan
The U.S. Small Business Administration (SBA) is an independent Agency of the Executive Branch of the Federal Government. It provides financial assistance to American Small Business primarily through SBA Investment and Business Loan Programs. SBA sets the guidelines for the loans while the SBA's partners (Lenders, Community Development Organizations, and Microlending Institutions) make the loans to small businesses.
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Small Business Administration
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7(a) loans are the most basic and most used type loan of SBA's business loan programs. Its name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses.
Unsecured SBA loans are offered to those who do not qualify for loans through the normal lending channels. The terms offered by SBA are more flexible. Valid loans are those where the proceeds of the loan are used for sound business purposes. The maturity is 10 to 25 years depending upon working capital and fixed assets.
As the SBA does not lend directly to the business owner. It is important that the lender you are working with is knowledgeable about unsecured SBA loans, as it will initially process your application, not the SBA. The SBA will review the application once the lender approves it. The lender will look for the following in your unsecured SBA loan application:
- Good credit score
- Relevant business experience
- Owner's own investment.
- Good business concept or plan
- Capacity to Manage and Pay
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The most relevant links we could find, placed here free
 HSBC
- Further information about HSBC's SBA Loan Program. www.us.hsbc.com
SBA
- Official homepage of the Small Business Administration. www.sba.gov
Article Alley
- Article outlining the SBA loan application process. www.articlealley.com
HSBC SBA Loan Program
HSBC's SBA Loan Program helps businesses with little collateral secure financing at reasonable terms. There are 3 HSBC unsecured SBA Loans available:
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HSBC SBA Loan Program
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SBA Express
- Maximum Loan Amount $350,000
- One-page application
- Usable for Line of Credit or Term Loan
7(a) Loan Guarantee Program
- Maximum Loan Amount $ 2 million
- Longer repayment terms are available
- Loan actually comes from a HSBC lender, not government
- Financing generally offered to start ups or businesses with a lack of credit history
Preferred Lender Program (PLP)
- Maximum Loan Amount $ 2 million
- Shorter turnaround time than a 7(a)
- Longer repayment terms are available
- Central SBA office approves PLP status
- Financing generally offered to start ups or businesses with a lack of credit history.
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