advantage

Since you are borrowing against your own assets, there is no approval process, credit check or income verification. Policy loans generally have a much lower interest rate than bank loans and are devoid of high fees and closing costs. Credit unions are non-profit financial institutions that do most of what banks do, and they are typically small, local institutions, serving a specific local population.

• Grants can be an attractive source for financing, because they inject capital that doesn’t have to be paid back into the business.
• While SBA loans offer favorable interest rates and minimal fees, the application process can