Owner To Owner
Non-Resident Home Finance
Small Business Finance
Working Capital Finance
Fixed Asset Finance
Business Vehicle Finance
With financial partners;
Working Capital loans offer a simple small business financing solution for entrepreneurs needing $25,000 – $150,000 to start operating their business.
SBA loans offer up to $5 million in small business financing that can be used for almost any business purpose, including start-up, acquisition or expansion. Loan proceeds can be used as working capital, revolving funds, or to purchase real estate, equipment, inventory, etc.
The SBA guarantees small business loans for investor’s, making it more attractive to lend to entrepreneurs. SBA loans can provide borrowers with attractive terms and lower interest rates, and are ideal when buying an existing business or a new franchise. SBA loans can also be used in conjunction with other financing options, such as Rollovers for Business Start-ups.
The five “Cs” are important when assessing eligibility for an SBA loan. Generally, banks will look at a borrower’s:
Cash: 20 percent equity injection for an existing business; 30 percent for a start-up.
Credit: 640+ credit score.
Capacity: Secondary income is preferred to minimize the risk of default.
Character: Three years of applicable work experienced is preferred.
Collateral: Personal collateral is required for a traditional SBA loan.
An unsecured loan can be a fast funding option for your new business or franchise. You won’t need any collateral to qualify and you can be funded in 45 days.
Unsecured loans can be thought of as a small business credit card. They consist of multiple, revolving lines of credit, available from $25,000 – $150,000. The funds can be used for working capital, marketing, payroll, franchise fees, equipment, or for that extra cushion should the need ever arise. There are no use of proceeds requirements.
- 690+ credit score
- Credit utilization rate below 50 percent
- Minimal credit inquiries (no more than two per bureau in the last six months)
- No recent derogatory comments on credit report (bill collectors, late payments, tax liens or judgments, etc.)
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