Top 5 Startup Business Loans with No Revenue in USA

Before jumping to the main part of the article, one must know what is the meaning of startup business loans with no revenue. We all know startups have become the latest trend, not only in the United States of America but, in every major country across the world.

For startup businesses to operate smoothly or fund there are many lenders. These lenders offer startup loans to entrepreneurs who are willing to expand their current business. The interesting part of such loans is they do not require pledging or any valuable asset as collateral. Other than this, such a type of service or loan also offers repayment flexibility to budding entrepreneurs. 

Further in this article, we will talk about the top 5 startup business loans with no revenue in the USA. 

Top 5 Startup Business Loans with No Revenue in the USA

Here are the top 5 startup business loans with no revenue in the USA:-

American Express

People will surely know about this brilliant financial company. Now, when it comes to business loans American Express has a different segment which is known as American Express Business Line of Credit.

There are lots of benefits or advantages to using or taking a small business loan from American Express. The maximum loan amount that a business can get is $250,000 and the minimum credit score should be 660. Some of the advantages of the American Express Business Line of Credit are the following:-

Quick Application process 

The application process for getting a startup or small business loan from the American Express Line of Credit is very easy, smooth, and fast. Applicants can easily apply for the loan online in a few minutes.

When you connect your business accounts to the application, the company reviews your financial information in real-time and takes efficient decisions. 

Flexibility 

This is what you get from American Express Business Line of Credit. Applicants get flexible access to what they need whenever they need it. Interestingly, they can do this without any prepayment penalties. 

Term length option

Not all company gives you this option whenever you are taking a business loan. 6, 12, or 18 months loan term options with a corresponding monthly fee are offered by American Express Business Line of Credit. 

Straightforward fees

American Express Business Line of Credit has a straightforward fee structure. Users can pay fees only on the amount they use, during the months they have an outstanding balance. 

SBA Microloan

More than 25 years ago the US Small Business Administration started this program in America. This program offers loan capital and it grants funds to nonprofit financial institutions throughout the country. Small businesses that were and are unable to access capital elsewhere would benefit from term loans under $50,000 at very low-interest rates.

Other than this, the program also believes that every small business should receive technical assistance before and after they receive loans. This would be given to overall improve their business foundation, structure, and operations, and to manage growth. 

Each intermediary lender has its lending and credit requirements. Normally, intermediaries require some type of collateral as well as a personal guarantee from the business owner. Now, you can use microloan for a variety of purposes that helps small businesses expand.

Some of the examples are working capital, inventory, furniture, fixtures, pieces of machinery, equipment, and many more. In this program, the maximum loan amount is $50,000 and the minimum credit score requires is 620. 

Headway Capital

If you are looking for the best and most affordable loans with interest then this is the right one for you and your business. The mission of this company is to provide business owners with financial flexibility through a business line of credit with no hidden fees.

The True Line of Credit program from this company is specially designed to make the applicants feel burdenless. It also allows you to access to cash when you require it the most. Now, some of the advantages of using Headway Capital are the following:-

Fast funding

Whenever you take a loan speed funding or confirmation of your loan is what you want. Choosing Headway Capital will give you that. Once all the processes are approved by the concerned authorities of the company the funds are directly sent to your bank accounts by the next business day. 

Flexible payment

You surely not have heard or got this unique and very useful feature. People or businesses who have taken loans can repay over 12-24 months and they have the option to choose from weekly to monthly repayment options. 

Clear cost

You get transparent payment terms, no compounded interest and no early repayment penalty. 

The maximum loan amount from this company is $100,000 and the minimum credit score requires is 600. 

Fundbox

If you have searched for a small business loan this loan has surely appeared on your screen. It is a working capital platform whose headquarters are present in San Francisco. This company offers credits and payments as a service to all small businesses. This company was founded back in 2013 and it innovates technology to help optimize cash flow for small businesses including startups. 

This company offers business financing up to $150000. Very recently, Fundbox and Stripe have joined to provide businesses with even more access to working capital using the Stripe Apps. Interestingly, Stripe customers can now easily access a Funbox Line of Credit directly from their Stripe dashboard. Some of the new additions to their application are Fundbox Flex Pay, Fundbox Plus, and many more. 

Now, we have already revealed the maximum loan amount that an individual can get, the minimum credit score required is 600. 

Bank of America Unsecured Business Loan 

Bank of America is known for its wide range of features and services. You can easily get a business loan from Bank of America to help improve your business cash flow. Interestingly, Bank of America does not ask for any collateral from any individuals.

Now, on unsecured business loans, the interest rates are very low and have convenient repayment terms. The qualifications to be eligible for an unsecured business loan from Bank of America are the following:-

• 2 years in business under existing ownership 
• $100,000 in annual revenue 

Yes, these are some of the basic yet important criteria that one must fulfill to get the loan sanctioned from the company. If you are willing to take a loan from this company then make sure to visit their official website and then apply for it. The maximum loan amount is already discussed but, the minimum credit score required is 670.