BUSINESS TERM LOANS
FAST FUNDING FOR SMALL & MEDIUM-SIZED
BUSINESSES IN THE US & CANADA
$200,000 ANNUAL REVENUE REQUIRED
Business Term Loans
A business term loan functions similarly to a business loan that is often available through a traditional bank. There are no minimum credit scores required or collateral requirements for this product. Once the business is approved, there are no restrictions as to how the funds can be used for the business. Business owners can repay the loan on their terms while using funds to handle debts and meet short-term business cash flow needs.
NO UPFRONT FEES
Why do business owners turn to business term loans?
Business term loans provide a business with opportunities to meet their cash flow needs with flexible payback options. These programs have some of the highest approval rates, making it widely accessible to businesses from all sorts of backgrounds. Bankruptcies, tax liens etc. we will find a way to get your business approved. Fast approvals mean that business owners don’t have to worry about waiting a lengthy period of time to wait for a decision as they would when working with traditional banking institutions.
Simple application processes and no application fees means that there isn’t a ton of paperwork that must be completed in order to participate in the program. Business owners do not have to worry about providing collateral in order to be considered for a loan, nor do they have to risk personal assets in order to qualify for the program.
How do these programs work?
A Business term loan is similar to a merchant cash advance but it isn’t a loan in the traditional sense. The funds are secured based on future, anticipated sales based off of the businesses’ revenue history. The advance is more flexible in nature, which makes it easier for business owners to gain access to funds to meet their cash flow needs. Typically, a small percentage of the sales that are generated are applied to repay the advance. During the slower months, less is taken out because the deductions are based on sales generated.
Just how easy is it to qualify for this program?
Generally, businesses only have to supply three months of business bank statements. The ability to demonstrate that a certain amount of sales have been generated is a major factor in approving the business for funds. If the banking history is satisfactory with limited negative items, the business cash advance is all but guaranteed. There are not very many hurdles that are required in order to qualify for this program.
Qualifying for the program is very easy. One only has to submit an application with the requested banking information in order to see if the person qualifies. Business owners with all types of credit backgrounds have been able to qualify for this program. If you are a business owner and want to know whether or not you qualify for the program, submit an application today.