Small business owners are so excited to open their doors to the public that they fail to budget properly and end up running into cash flow problems 3-6 months after opening. It is a common problem so if you find yourself in that predicament do not fret. Small Business Funding can help you secure working capital to keep your business moving in the right direction. Loans for new businesses are what the alternative business financing space specializes in.
New Business Loans With Poor Credit
Imagine needing capital and being only 4 or 5 months old as a business and also having bad credit. No one would extend credit to you. Alternative business lenders will though. As long as time in business is 3 months or more and your credit score is at least 500 there will be a lender out there to provide you with a business advance. Our lending partners employ underwriting techniques and processes that provide lightening fast lending decisions, in 24 hours or less, and fast funding in just 5 days. To apply for funding you just need to complete our one page application and provide 6 months worth of business bank statements, a driver’s license, lease, and voided check. Easy.
Start Up Business Loans
Unfortunately, we cannot help secure capital for start up businesses or those looking to buy out a partner or purchase an existing business. You must be in business for at least 3 months and showing revenues of $8,000 per month….no less. Those are the minimum requirements to receive new business loans. These advances are in the form of either an unsecured revenue based working capital loan or a merchant cash advance. Both are more expensive than a traditional loan and both require daily weekday payments to pay off the advance in 2 to 12 months. These advances are set up this way to help reduce the risk that these lenders have. The loans have no personal guarantees and require no collateral.