LoanMart Launches New Hybrid Loan Product; Millions of rejected businesses affected

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LoanMart Small Business Loans

In an effort to help millions of businesses that routinely do not qualify for traditional loans, LoanMart is launching an innovative small business loan to serve this market.

While both traditional and alternative lenders have requirements that typically deny loans to start-ups, businesses with credit distress, and businesses with limited track records, the LoanMart Small Business loan is designed to help these types of businesses with a funding.

“The market has seen an influx of alternative commercial lenders to provide liquidity where traditional lenders have dried up,” said Hugo Dooner, managing director of LoanMart, California’s leading auto lender. “However, these alternative vendors have requirements that exclude much of the demand from small businesses. LoanMart is proud to present a product specifically designed to address the underserved small business market.

The new product also solves the problem entrepreneurs face when trying to obtain loans for businesses with poor credit or no established financial history. A credit check is not the only determining factor, or even the most important, in obtaining approval. Now even a sole proprietor, such as an independent contractor, with a limited credit history, can have the financial flexibility to purchase inventory, increase advertising, acquire new equipment, or handle cash flow schedule issues.

Business owners looking to raise seed money or finance any other business need can now borrow up to $ 50,000 through LoanMart Small Business Loans with just a few simple documents. Depending on the circumstances, business owners can be funded in about a day, and they can take up to four years to pay off the loan.

According to Dooner, with the addition of the small business loan, LoanMart now serves customers in 19 states. Beyond the location expansion, this product now makes LoanMart a multi-product finance company. LoanMart Small Business Loans is just one more step in the company’s shift from being solely an auto securities lending company to providing a wide range of financial products to consumers and businesses.

Small business owners in 13 states can start applying for a LoanMart Small Business loan now by visiting smallbusiness.loanmart.com/ or by calling 1-800-733-LOAN (5626).

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About LoanMart:

Since 2001, LoanMart has been a leader specializing in non-traditional loans for clients who might otherwise not be able to borrow money from traditional sources such as banks. Its loan products include auto title loans and are available regardless of the credit rating of the applicant. Based in Encino, California, LoanMart has 375 employees and currently operates operations in California, Arizona, New Mexico, Utah, Illinois, Missouri, Alabama, Iowa, Idaho, Indiana, Kansas , Maine, Mississippi, North Carolina, Ohio and Pennsylvania. , South Carolina, Virginia and Washington.

For more information, visit the company’s website at http://www.LoanMart.com. You can also find us on Twitter @ Loan, and Facebook.

Editor and additional notes:

Information in LoanMart press releases is intended for journalists only and should not be used by consumers or business owners in making financial decisions. Any consumer or business owner interested in learning more about any of LoanMart’s services should visit LoanMart.com or smallbusiness.loanmart.com/ for full terms and conditions.

Journalists can contact:

Sales department

Marketing (at) 800LoanMart (dot) com

818-285-1625

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