To narrow down the best type of financing, 1. first determine how much your business needs 2. What will you use the funds for? 3. How soon do you need the funds?  4. What is the credit score of the applicant? Once known, we will custom tailor the best solution for your business.

 Most lenders consider your credit score as one of the three main factors in approving your loan, and look for a score of at least 680. We have many loan programs that accept a credit score below 680. .

A lender will also consider the applicant’s past credit history, any recent bankruptcy, the cash flow generated by the business, and the type of industry your business operates in.

Revenue based financing, also known as Merchant Cash Advance is a fast and unsecured financing product that provides your business with a quick cash infusion since it is not a loan. The lender purchases a percentage of your future cash flows, based on the last three months’ bank statements, and advances  those funds to your business in one cash payment, typically in 2-3 days. The lender gets repaid with daily or weekly charges to your business account over a six to nine month period, sometimes longer.

Accounts receivable financing uses a company’s outstanding receivables as collateral to open a credit line to provide ongoing financing. This is also known as factoring. A factoring company purchases a company’s invoices or purchase orders at a discount, giving the business owner access to a percentage of that invoice now, instead of waiting for the invoice or purchase order to be paid. The balance, minus the agreed upon fees are then paid to the business owner once the factor has collected payment from the business’ customer(s). 

 We have partnered with lenders that offer very low or zero interest loans to qualifying business owners. They are typically in the form of zero interest credit cards from multiple banks. We are also able to prequalify you for an SBA guaranteed loan in amounts of $50,000 or more. If your business has been running for three years or more we recommend an SBA guaranteed term loan available through one of our specialized lenders.