If you’ve been in the process of starting up your own business, or are helping someone do so, then you must know that the biggest factor that determines whether or not that business succeeds is not its marketing. Nor is it the sales people. And it certainly isn’t whether or not the website is cutting edge. The one factor upon which your hopes and dreams rest, the one thing that determines whether or not your business will succeed is cashflow.

That is, the ability to maintain enough cash in the business to pay for expenses, such as equipment, overhead such as lighting, rent and heat, and of course, to pay the owner. After all, its why you started your business in the first place right? With this in mind, you may want to consider unsecured business loans to aid in cashflow.

That said, there are times, especially when your business is just starting out, where you will need more cash than you have on hand. Here again, unsecured business loans can be of great help. But have you stopped to consider some of the advantages of them? For one thing, as opposed to secured business loans, where you have to have some for of security to offer the lender (your house, or car for instance) unsecured business loans require no such thing.

This in and of itself is a great advantage, especially when you’re looking to access cash quickly, whether it be to move your business from the garage to an actual office, or to purchase much needed software or computers, or even to start the hiring process and ensure you can actually pay your staff at the end of the pay period.

Another advantage of unsecured business loans is that should you be late, you may not pay late fees. Say that the monthly payment on the loan is due on the 5th of the month, but the business can’t pay it until the 10th. This is not a problem as there is a grace period during which you can pay the outstanding monthly payment without late charges. Why would the lender do this?

Simple: they understand that if you (and your business) have a good experience with them, you will most likely come back for more unsecured business loans and be more likely to recommend their service to your friends and family. This ultimately means more customers and income for them. In short, they’ll want to make the process of obtaining unsecured business loans as easy as possible. Just don’t go in unprepared.

Finally, another advantage of unsecured business loans is the fact that the funds can be used for anything so long as it relates to the business. This of course covers a lot of ground and doesn’t just mean use for equipment purchases or overhead.

It can be used to obtain the first in a fleet of company trucks for instance. And it can also be used to offset entertainment expenses (i.e. food) incurred provided that it was during the course of business, say, having a lunch meeting with a potential client.