Small Business Loans in Chicago
Running a business in the Windy City is rewarding, but difficult. With more than 50 million annual visitors, there is no shortage of patrons, customers or clients for virtually any industry. The challenge of succeeding in business in Chicago lies in standing out among the competition.
With more than 100 neighborhoods, Chicago is a big place with a big market. Staying afloat in the Second City requires strong business acumen, a willingness to innovate and the ability to adapt to new market trends.
To keep ahead of the curve and fight off the competition, you’ll need the cash to make changes to your business. For many small businesses in Chicago, finding the liquid capital to remodel, reshape, open a new location or cover payroll can be difficult with so much money tied up in assets. That’s where business advance lenders like Fast Capital 360 come in.
Small Business Financing In Chicago
Unfortunately for small businesses in Chicago, bank loans aren’t the most convenient type of funding. Approval of credit lines for small businesses at the major financial institutions sits at a dismal 25%. Three out of four businesses that apply for loans through banks are never approved.
Even for businesses with excellent credit history, banks may not be the best option. Loan applications at major financial institutions take hours to complete and include several identity checks. Once an application is finally completed, applicants often have to wait as long as 90 days to receive a funding decision. We don’t think that’s fair.
Fast Capital 360’s application for funding alternatives to working capital business loan takes only minutes to complete. Routinely, many traditional banking institutions make loan applicants wait 90 days to learn if they’ve been approved with some applicants reporting waits as long as six-months. Our applicants are notified of their approval within hours, in fact, most users wait just 60 minutes to be approved for funding.
Find the lowest rates on business loans
Business Loans in Chicago
Once your funding program is approved, our funding alternatives to short-term small business loans can arrive in your bank account by the end of the next business day. Many business owners go from application to cash in their hand in under 24 hours.
As a member of the Responsible Business Lending Coalition, Fast Capital 360 is committed to fair and transparent lending terms. Our contracts are written to be understood by anyone, not to hide fees or confusing terms.
We understand that accepting alternative funding to small business loan in Chicago can be a difficult decision. There are numerous options for short-term business finance on the market, and it’s important for a business owner to find the best one for their company. Our business advisors are on-hand six days a week to review your financial situation and help you understand which type of funding is most likely to benefit you, even if it’s one we don’t offer.