Funding Options
0% APR Interest Free for up to 12+ Months
This is one of the best ways to get capital for you business. Business credit cards with starting limits from 15k to 250k, with no documentation needed. That means that you dont have to provide bank statments, Tax returns or any other type of documenttion to get approved.
For example, Chase bank has a Ink Business Unlimited Business credit card with a $75,000 limit that some of our clients were appoved for with no documentation. Once approved we show you how to liquidate that credit card and turn the credit into cash, if needed. What could you do with $75k or more that you don’t have to pay intrest on for 12 months?
Business lines of Credit
A business line of credit functions like a revolving credit account, similar to a credit card but typically with lower interest rates. Instead of receiving a lump sum, a business line of credit gives you access to a predetermined credit limit that you can borrow from as needed, repay, and then borrow from again.
Help ensure your business can handle the unexpected with a line of credit you can keep reusing and repaying as often as you’d like.
Key Features:
Lines of credit starting at $10,000 - $500,000
Interest is charged only on the amounts outstanding: You only pay interest on the money you've actually drawn, not the entire credit limit.
Revolving credit: As you repay the borrowed funds, the credit becomes available again for future use, similar to a credit card.
Benefits:
Improved cash flow: Manage cash flow fluctuations, especially during seasonal dips or when waiting for customer payments.
Flexibility and control: Access funds as needed for operational expenses, unexpected costs, or growth opportunities without committing to a fixed loan amount.
Lower interest costs: Potentially lower interest rates than business credit cards, and you only pay interest on what you use.
Building business credit: Responsible use and timely repayment can help build business credit, potentially leading to better terms on future financing.
Funding strategic investments: Can be used to capitalize on growth opportunities, such as launching new products or expanding your business
Eligibility:
Time in business: Many lenders require a minimum of 6 months to 2 years in business.
Annual revenue: Lenders often set minimum annual revenue requirements, which can vary. (usually 10k+ per month)
Credit score: Both personal and business credit scores are typically considered, with minimum requirements varying by lender.
Financial documentation: Lenders will require financial statements, tax returns, and other documentation.
Alternative Business Capital
Alternative business loans offer a range of financing options outside of traditional bank loans, catering to businesses that may not qualify for conventional loans or need faster funding.This is one of the best ways to get capital for you business.
Advantages:
Faster Approval and Funding: Many alternative lenders offer quicker approval and funding times compared to traditional banks, often within days or even hours.
Flexible Qualification Criteria: Alternative lenders may have less stringent requirements for credit scores and financial history, making them accessible to businesses that may not qualify for traditional loans.
Streamlined Application Process: Applications are often online and require less documentation than traditional bank loans.
Flexible Repayment Options: Some alternative loans offer repayment schedules tied to business income or provide the flexibility to draw funds as needed.
Can Help Businesses with Bad Credit: Some alternative lenders specialize in providing financing for businesses with less-than-perfect credit.
Disadvantages:
Potentially Higher Costs: Interest rates and fees can be higher than those offered by traditional banks.
Shorter Repayment Terms: Many alternative loans have shorter repayment periods, leading to higher monthly payments.
Less Regulation: The alternative lending space may have less regulation than traditional banking, requiring careful research and due diligence.
Flexible Repayment Options: Some alternative loans offer repayment schedules tied to business income or provide the flexibility to draw funds as needed.
BANKING RELATIONSHIPS WITH
NO UP FRONT COST
“If we don’t get your business funded,
we don’t get paid”
Book A Free Funding CallFind out how we can help.
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