Hurricane Sandy Creates Immediate Need for Business Loans

Oct. 30, 2012 - PRLog -- Businesses in New York City and the entire Tri-State area have been devastated by Hurricane Sandy and many more states are likely to see their businesses affected. The storm has doled out some of the worst damage seen on the east coast in more than fifty years. The bus and rail systems have been shut down for two days now, the bridges and tunnels remain closed, and many of the roads are submerged in water. Many businesses do not have power and have experienced damage from water or fire. These businesses will also likely be closed for some time. The financial impact on these companies will likely be felt for months to come. It is likely that the government will offer some financial support for small businesses but many business owners are likely to require additional business loans to survive the losses yet to come.

Shield Funding understands that many of these businesses will require additional financing and wants to make business owners aware of the business financing programs available by their company.  If you are a small business owner and have been in business for at least three months you are likely eligible to receive an unsecured business loan or a business cash advance.

These funding options are slightly different than traditional business loans but there are many advantages to this type of funding. A great feature for this type of funding is that there are no lengthy credit checks. This means that business owners that have bad credit are eligible to receive a business loan. Many business owners that have FICO scores of less than 700 can receive funding whereas a bank would immediately deny such an application. Also, because there are less credit requirements there is not as much documentation required. This dramatically speeds up the funding process. Some business owners are approved within 48 hours and can be funded in the same week that they apply.

An unsecured business loan or business cash advance at Shield Funding is an exchange based on the projected sales that a business will make. The lender gives the applying business owner a large advance payment to purchase the future sales at a discount. Payments on the funding are usually made either by deducting a small portion of each sale as it is generated by a credit card purchase, or a daily percentage is deducted from a business bank account. The payment options are very flexible and can be structured to fit any business needs.

Many small business owners in most of the country will be struggling to overcome the damage to their business by Hurricane Sandy. Many business locations have or will be damaged by the storm, or will be financially impacted by the inability to remain open. The financial losses are likely to mount as businesses remain closed and the normal customer stream is altered. The government assistance that is offered for natural disasters is not likely going to be enough for these small businesses to maintain their operations and more funding sources will be required. These additional business financing resources are available by companies such as Shield Funding with their business cash advance or unsecured business loan programs. The application process is fast and most business owners are eligible. If you are a small business owner you can apply online at http://shieldfunding.com at no cost to see the business loans available for your company.