Based on the information you provided, we think a personal loan may be a good fit for you. It’s difficult to get a business loan for a new business, or to purchase a business without a significant down payment. One way to get past this hurdle is to use a personal loan instead.
Here are the advantages of personal loans:
- Low rates starting at 6.16 % to 35.89 % APR
- Quick approval and funding in under 1 week
- No business paperwork or business plan needed
- Borrow up to $40K
If this sounds good to you, you can apply online with LendingClub.com, our recommended provider of personal loans.
Need more ideas on how to finance a startup or business acquisition? You can also explore options with our popular article, The 9 Best Options for Startup Financing.