A recent QuickBooks survey revealed that about 75% of small businesses were launched on the back of the owner’s personal savings. While using your own money is a good way to get the ball rolling, it’s not a sustainable or ideal route when expanding your business. For many entrepreneurs, financing via car equity Halifax Nova Scotia is a more viable option. Here’s why:
4 Reasons Your Small Business Needs an Auto Title Loan
Immediate Availability: Title loans are ideal for small businesses because they can be used for anything. You can also get the money you need quickly. The loan requires the borrower to pledge their car as collateral. This paves the way for quick approval since the lender doesn’t need to conduct a thorough background check.
Affordable Payment Plans: When compared to bank loans and credit cards, interest rates for bad credit auto loans are much lower. They also have more payment options. You can pay through auto-debit, direct deposit, cheques, or via payment centers.
Open to All: A title loan can be given to anyone who owns a car. It doesn’t matter if the borrower has a poor credit score or an excellent one as long as they have enough equity on their vehicle. The loan is also open to senior citizens and those currently unemployed.
Continued Vehicle Use: Nothing will change about your car’s status despite being used as collateral. It will remain with you so you can still use it.
Same Day Cash
Give your business a shot in the arm with Canada Car Cash. This title loan specialist offers a large percentage of your car’s value. Their interest rates are 70% lower and they have affordable monthly payments. You can get approved within the hour and receive the money within 24 hours. Sign up on their website or call their toll-free number at 1-844-598-7631.
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