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A revolving line of credit is a product that allows customers to draw from an agreed upon credit limit. The business owner can then draw any amount they wish, up to the maximum amount of the approval. The borrower only pays interest on the amount drawn. Essentially, you pay for what you use. The payment on the line is usually paid back on a monthly or quarterly basis.
When your business needs a piece of equipment, but you don’t have the money on hand to purchase the equipment. The business owner would borrow the money from the lender and make payments (usually monthly) which would include fees, interest, and principal.
Revenue-based financing is when a business receives funding in exchange of their future revenue receipts. Typically, these borrowers have difficulty attaining conventional financing due to factors including poor credit history or a short time in business. Sometimes this option is the best option, if the business owner needs the funding quickly and does not want to pledge collateral.
A SBA (7a) loan is processed through a private lender but backed by the U.S. Small Business Administration. The 7a loan allows business owners get financing at lower rates and longer repayment rates, compared to other financing options.
This is another type of loan offered by the SBA, however compared to the 7(a) loan the turn around time to receive the loan is much quicker. The other differences include, not requiring the business owner to put down collateral and the loan approvals are lower than the 7(a) loan program.
Yes, we have funding options available for clients with a wide range of credit scores.
This is dependent upon which product fits your business needs the best, we have some options that can get you the funding within 1-2 business days.
There are many reasons why a business owner will seek funding for their business. A few of those reasons include, expansion, purchase equipment, payroll, inventory, working capital, etc
We look for a business to be open for a minimum of 6 months in order to receive funding.