We’ve all seen the footage of life in the aftermath of Hurricane Sandy. If we had to describe it in a single word, many of us would choose words like daunting or unimaginable, but ask a small business owner to describe it and they’d use words like: irrevocable, debt, and closure. That’s because small businesses are facing a lot more than cleanup in the wake of a natural disaster.

The short list of expected challenges includes:

• Loss of power
• Widespread damage in need of repair
• Lack of restoration resources
• Loss of income and sales
• Damaged inventory
• Delivery shutdowns
• Business closure

The harsh reality is with local businesses slated to lose 30 to 50 billion dollars over the next several months, up to 25% of independent storefronts across New York and New Jersey may not re-open at all. Without income from sales they simply won’t recover. Luckily, unsecured lenders like Advanced Funds Network (AFN) have a solution. It’s called an unsecured credit line and with a 24 to 48 hour rapid approval process, it’s just the remedy East Coast businesses need to get back on their feet.

How to Avert Disaster with an Unsecured Credit Line

An unsecured credit line can be your personal disaster relief program.

Unlike a traditional bank loan, it doesn’t have to be backed by collateral or credit. This is good news for businesses in the storm radius, because returning to normal operations may be slow. How can you get the money you need without the revenue to back it up? Quite simply; you already have verifiable proof of revenue.

That’s right - unsecured lenders base the loan amount on past revenue records, payment history to your creditors, accounts receivable, as well as your professional credit history.  Lenders like AFN understand that sometimes expedited funding approval is a must; that’s why they’ve put together a list of tips to help you get the funding you need when you need it.

Tips for Quick Approval

An unsecured credit line does come with a few eligibility requirements. Here are some ways to make sure you meet the requirements ahead of time.

• Your business should be at least 6 months old at the time you apply
• Have a personal and professional credit score of 600 or higher
• Have a record of verifiable sales (receipts or revenue going back 3 to 6 months) available at all times
• Negotiate fees and interest rates when possible
• Always make payments on time and read all terms and conditions before signing
• Apply online for faster approval

Ask about flexible loan terms, fixed interest rates, prepayment penalties, and educational benefits to insure you get the most out of your unsecured credit line. AFN is here to support you in your recovery efforts and give you funding and a fast turnaround when you need it most.

For more information on unsecured funding options, or to apply for a loan, visit www.advancedfundsnetwork.com.