Many people dream of becoming small business owners. The idea of being your boss and having control over all aspects of your work is extremely appealing for many people. To start your own business or be your boss, you need to have enough money to turn your idea into a reality and get the business off the ground. Many individuals are already owners of their own small business but they need a bit more funding to grow their business further. It can be particularly hard to find a way to borrow enough money to build your business if your credit score isn’t perfect. So many banks out there will turn you away without a second thought because they view you simply as a number rather than a person who has dreams they want to make a reality.
Here, at TFC Title Loans, we have the perfect solution for you: a title loan for business capital. An auto pink slip title loan is a kind of secured loan that uses your car’s trade-in market value as a kind of equity collateral against the loan so that you can be approved regardless of what your credit score is at the time. We aim to help you meet your business goals by providing you with the funding you need.
TFC Title Loans offers the best customer service in the industry but you don’t just have to take our word for it. In this article, we have tons of feedback on our services and loans from Elmer R. who just recently got a title loan for business capital on his vehicle equity on KBB.COM. This is the experience he had with Title Loan for Business Capital:
Elmer R’s Story
Elmer R. owns his very own business which he has been wanting to grow for a while now. He ran into a few obstacles when he realized that his credit score was currently not high enough to qualify for a typical small business loan. If he wasn’t able to get a title loan, he would have had to wait for funding until his credit score improved but luckily, that is when he found TFC Title Loans. He applied for a title loan through us on his white 2006 Ford F-150 with a mileage of 155,000. Very shortly after applying, he was approved for a loan of $3,500. When asked in a survey he said that he plans on paying back the loan through the future business revenue that will be steadily increasing because of the extra capital he got from the auto title loan. In the same survey, he gave us feedback on his experience with TFC by giving us a five-star rating for customer service but he also expressed that he wished the interest rate could have been a little lower. And we thought we would take this opportunity to explain why title loans have higher interest rates compared to other loans. Since Car Title Loans are lent out regardless of credit score, there is a higher risk for the lender since the only guarantee of repayment is the collateral. To make up for that heightened risk, lenders need to charge a higher interest that those loans which require a good credit score. Elmer’s loan is scheduled to be fully paid off by April of 2020, meaning he has three full years to pay it off in affordable monthly payments. However, he can pay off the loan as early as he would like to since TFC Title Loans charges no prepayment penalties.
Benefits of Working with TFC Title Loans
These are only a few of the amazing benefits that you would enjoy by choosing Title Loans in Chicago for all your title loan needs:
If you would like to know more about title loans for Business Capital, just give us a call. If you would like to get a title loan with us, fill out our online application located conveniently on our website’s homepage. Don’t hesitate, apply today!