Small businesses borrow for four principal reasons:
Firms choose different means of financing depending on the intended purpose.
SBA loans are government-backed loans available through commercial lenders who follow SBA guidelines. SBA works with lenders to provide a partial guarantee for loans, reducing lenders’ risk, increasing small business lending, and helping expand small business economic activity. For information. The SBA does not make direct loans to small businesses, except for the disaster loan program, to repair physical and economic damage caused by a declared disaster.
A USDA Home Loan from the USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program, is a mortgage loan offered to rural property owners by the United States Department of Agriculture.
For starters, a USDA loan is one of the only loan programs offered to the general public that allows you to finance 100% of your home’s value. That means no down payment of any kind!
Your USDA loan application can receive an underwriting approval down to a 620 credit score, although it is much easier to get approved over a 640. Applicants must demonstrate repayment ability for the loan along with a job history of at least two years. If you have just graduated from school the two year employment history can be waived.
If you are a start-up business, you will need a business plan to get a small business loan. If you are an existing business in operation for more than two years, you will need to compile a summary of the history and nature of your business. Or, if you are expanding your business in some way, you will need to explain your business expansion plan, how expansion will positively affect revenue.
You could have your money in your business bank as fast as 24 hours! Our team works as quickly and efficiently as possible to ensure that you receive your desired advance as timely as possible. Call or Email now to be in touch with one of our team members!
Fees are loan specific and are discussed in further detail in the loan package. There are no fees unless you get approved.
You can receive an advance for as little as $10,000 to a maximum of $5 000.000 depending on different factors.
Lenders want to see that you have been financially responsible since filing for bankruptcy protection. Your bankruptcy must be at least ten years old (depending on the loan product) and there must not be any late payments, charge-offs or collection items on your report since the bankruptcy. Lenders want to see that you have been financially responsible since filing for bankruptcy protection.
Your data will always be yours.
We employ industry best practices to keep your data safe. We will never sell your data.
When it comes to protecting you and your data, we do not believe that simply checking boxes to ensure compliance is adequate. We employ industry best practices to ensure information security is at the core of our technology and business operations, yet strive to set a new standard for bank-level security and privacy.
Since we don’t charge by the hour, our clients feel welcome to call us with any questions, issues, or just to brainstorm. We look forward to these calls and take pride in our ability to help our clients in any way we can.