The new craze is cryptocurrency loans but the companies providing them require you to have collateral in the amount of the loan you're asking for. This almost defeats the purpose getting a loan in the first place. It can be compared to a home equity loan.
Biteris crypto loans are breaking new ground by utilizing the power of blockchain to create a user based record of every transaction of every client. This extinguishes the element of fraud and increases the chances of every business owner to obtain funding for their business, new or existing, and all based on volume.
Some questions people ask:What do I need to get a crypto loan?
Here are the steps necessary to take in order to receive a crypto loan from Biteris.
1. Provide legal documentation of the business and the owner(s), managers, and vested parties involved.
2. Provide a transaction report of the last 90 days worth of business.
3. Implement and utilize Biteris (BTSC) crypto in at least 30% of all transactions.
That's it! No credit needed. No long drawn out craziness.
What if my business is new, can I still get a crypto loan?
Brand new businesses follow a different protocol. In most cases, Biteris will maintain a share of the business being financed in order to protect it's investors from fraud.
Are crypto loans legal?
Crypto loans are 100% legal. The lines are drawn in the sand around tax-time when the government comes knocking. Biteris has the capacity to, and will lend to almost any civilized nation in the world.
Can I get a crypto loan in my country?
Unless you are living under some type of dictatorship, most definitely.
How long does it take to get a crypto loan?
The entire process can take anywhere from 3 to 90 days.
What is the maximum crypto loan I can receive?
Based on the volume of business the company does, Biteris can arrange for up to $1 Billion Dollars in funding.
Do I have to pay taxes on a crypto loan?
Regulators are constantly trying to figure out a way to charge someone for something. Inmost countries or provinces, there are tax laws. It's best to check with a local tax preparer before you apply for any loans.
For more information, please visit Biteris and speak to a professional who can help you.