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Small businesses and startups are crucial to any economy. In 2017, there were 1.15 million small businesses in Canada. These companies provided employment for 60% of the population. The pandemic might have forced some of them to close, but countless others used no credit check car loans Ajax Ontario to stay operational. Here’s how these loans can help an entrepreneur like you: 

3 Best Ways Auto Title Loans Help Small Business Owners

Saves Time and Effort: Applying for a bank loan takes a lot of time and effort, and these are things that entrepreneurs sometimes don’t have. Title loans are known for their streamlined and fast application process. Borrowers can actually receive the money they need within 24 hours after applying and use it immediately for their needs.

Collateral Remains a Reliable Tool: Many entrepreneurs rely on their cars to get things done. For instance, they use it to go to their clients or make deliveries. With a title loan, their car remains with them even if it has been pledged as collateral and while the contract is active.  

Benefits Seasonal Businesses: Some business loans have a long underwriting process and longer terms, making them useless if the company is active only during certain seasons. For example, a dive equipment rental company might need to hire extra people during the summer. Car equity loans are a great way to meet the demands of a peak season. 

Same Day Cash 

Canada Car Cash can help your business grow. The company specializes in title loans and can offer more money than other lenders. Their interest rates are 70% lower and they have the lowest monthly payments. Their application process is so fast you can get approved in 15 minutes. Log on to their website to apply or call their toll-free number at 1-844-598-7631. 

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