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Finding Loan Funding to Start a New Business with No Employment Verification Required

I had good credit, but I do not like to jump through hoops to get a loan extended to me. I managed to go through the motions to get a bank loan when we went in for a mortgage. When my wife and I wanted to start a business, I decided to take our good credit and go for one of those no employment verification personal loans. Since I already ran a business that helped me establish a credit score over 700, I did not want to go through the bank’s routine of trying to figure out how I made my money and whether or not it was stable. Getting a loan that did not require employment verification was easier to do.

I am not talking about a small loan either. My credit score alone made me eligible for a little over $200,000 without having to prove employment. So many people today do not have traditional employment. They earn decent incomes, pay their taxes and are great risks for loans. However, the banks are slow in catching up to this new type of borrower. This is why I got a loan with a company that offers no employment verification personal loans for a really good interest rate. Sure, I pay a little more interest without the loan being secured with collateral, but that is how we wanted it.

It all comes down to income potential and repaying the debts. The $200,000 allowed us to start a new business to earn much more than the original loan investment. We got started and were able to pay off the loan in half the time of the contract. We saved on interest, and it just made our credit scores even stronger for the next time we needed to acquire an unsecured personal loan for a lot of money.

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