$1 Million Dollar Unsecured Loan
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For businesses, companies, organizations, or even individuals that need a large sum of money for new projects or expenses, accessing a loan that can offer over $500,000 is more than just difficult. This is why most of them rely on a $1 million dollar unsecured loan that does not come with many requirements.
To understand why you must know that unsecured loans consist of credits that are based on your creditworthiness and collateral is not needed or requested. In other words, you do not have to come up with an asset or property that is worth as much as the funds you are requesting if the loan is approved.
But what do lenders earn from this? Since collateral is not included in the process, other terms and conditions vary, starting with interest rates and the term of the loan. You have to deal with higher interest rates and have less time to repay the loan due to how it is established in the contract.
However, if you are a company, business, or individual that truly needs the money but does not have the collateral to request a regular and secured loan, you will find yourself in good spirits when your creditworthiness is what matters the most for the lending institution.
How to access this loan
Unfortunately, it is not that simple. Banks and traditional lenders only offer secured loans due to the sum of money you are requesting. They cannot afford to approve such loan without a collateral that can guarantee the repayment when someone misses the payments.
Overall, unsecured loans are not available in the usual lending institutions, which take you to private lending companies or other individuals that can offer you the funds under better terms and conditions. At Commercial Real Estate Loan Pros of Tampa, we work with a $1 million dollar unsecured loan and your credit score will be over 90% of what we care about the most.
You can reach out to us and provide the basic information that demonstrates your reliability and repayment capabilities:
- A good or excellent credit score—no exceptions.
- Financial records. Those can be from your business, personal ones, or both.
- Basic documentation.
- Records of previous loans paid—on time.
The last requirement is not mandatory, but it will help us to have a better idea of how you compromise yourself to repay the million-dollar.
Do you need a $1 million dollar unsecured loan?
If you do not need it, the best option is not to apply for it. Just like with any other credit available. For this, you must know the situations when most of our borrowers decide to request one and we recommend you to do the same as well if you are facing any of them:
- You need the money much quicker compared to secured loans.
- You want to invest in a bigger real estate project or acquisition.
- You do not have collateral to offer.
- Your credit score is good or excellent but you are lacking in other requirements.
Keep in mind that our company, Commercial Real Estate Loan Pros of Tampa, will deposit the funds in a matter of hours or very few days if your unsecured loan is approved. This is a huge difference with secured ones since you get the funds much faster after the process and agreement have been decided. Therefore, feel confident about relying on us for a $1 million dollar unsecured loan if you truly need it.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.