Can I Borrow Money if I am Unemployed or Between Jobs?
Yes, we may be able to provide some loan options if you are unemployed or moving between jobs. As long as you are earning some regular income and can meet repayments without defaulting, we will gladly consider your application. A loan is never guaranteed and our team may request some additional information from you if necessary.
Can I Apply For a Loan If I am About To Start a Company?
Yes, we can offer loans for startups and new businesses, but you may still need to show a regular income or proof that you can afford repayment without falling into financial difficulty. We may also carry out a quick credit check to assess your affordability.
If you have neither a good income or a good credit score, we may be able to provide alternative finance options which leverage security such as home equity loans or title car loans.
Can I Get a Loan if My Business is Not Profitable?
Yes, at Pheabs, we appreciate that not all businesses are always profitable and you may not be taking any salary to keep the business going or you may be taking a regular salary so you still have a stable income. We also understand that sometimes you may need a cash injection in order to become profitable and that is why we are here to help!
Can I Be Eligible if My Business is Under 3 Years Old?
Yes, whilst traditional business loans require you to have at least 18 or 36 months of bank statements and accounts, you can certainly be eligible if your business is new and generating some regular income. We may require proof of income or just need to see some evidence of a regular salary coming in, so that we know that you can afford repayments.
How Fast Can I My Loan Be Approved and Funded?
Small amounts can usually be funded in 1 to 24 hours but larger amounts may require some additional checks and just take an extra couple of days. Our partners will always aim to process your loan as fast as possible and transfer funds as soon as they can.