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For most of our funding programs credit is not a determining factor. We are more focused on a businesses ability to repay the loan, versus a credit score. However, when we look at longer term funding options from 24 months and beyond, credit starts to play a larger role. In reality it is very easy to qualify for business funding, you just need someone to show you the programs that will work. In the end credit will never disqualify your business from obtaining funding, it can only help you to qualify for better programs!
Depending on what funding programs we look at, will determine how much your business qualifies for. Asset based lending will be based on how much the asset is valued at. While unsecured funding is based on a businesses gross sales. Unsecured funsing programs have a maximum funding amount of $2,000,000 but secured programs are only limited by the value of the asset.
Contact a Funding Specialist to discuss what programs you would like to look at. Based on their analysis, they will let you know what funding programs you should qualify for, and will then request the required documents to show you an offer. In most cases a solid offer for funding can be produced within 48 hours, and in special circumstances they can move even faster!
The cost associated with your business funding is typically the most important factor. With the wide array of programs we offer, the cost can vary substantially from case to case. We offer programs that are structured on a traditional APR, and these programs can be as low as 8%! We also offer programs that are structured on a Factor Rate. Because they are not traditional loans the pricing scale is different. A funding specialist can give you an idea of what to expect by going over available programs with you. Nothing is set in stone until we underwrite an offer so any pricing discussed prior is not guaranteed. We can guarantee you will not be charged any upfront fees, or fees if an offer is not accepted
For the majority of our funding programs we can provide an offer within 48 hours of receiving your documents. If you need an offer faster than that we can expedite the process, and provide offers within hours, but please mention this to your Funding Specialist. Every business is unique, and so is their situation. We do our best to provide everyone an offer in a timely manner, while not cutting any corners in the process. We treat every file with the same care whether it is a $5,000 loan or a $5,000,000 loan.
All programs will require a one page funding application be completed with basic information on the business. Along with that we will need the last 4 months of business bank statements. Depending on what programs your are considering there may be additional documents requested. We understand some documents can be difficult to gather, so we always attempt to provide you with an offer based on the least amount of paperwork necessary.
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1416 S Main St, Suite 220 #2003 & 125 Remount Rd, Ste C1 #1035
Adrian, MI, 49221 Charlotte, NC, 28203