You have arrived. You have landed in the right spot to guide you to quick funding for your start-up business.
Need financing to start your company, but you aren’t sure what you need for a potential approval?
There are three keys to think about when seeking approval for start-up funding for your new business.
These three keys to keep in mind are: credit, cash flow, and/or collateral.
With each key, there are four basic questions to answer to determine your potential for working with us along with your possible funding options.
Key 1: Credit
Do you, or someone else you can use as a guarantor, have a 680-700+ credit score with an active credit profile and no bankruptcies?
An active credit profile can be: a mortgage in good standing OR a bank credit card that has at least a $3k limit OR 2 bank cards that have at least a $2k limit.
Each of the items listed for an active profile should be at least 2+ years old and a bank card (not a store charge card).
If you can answer yes, then unsecured loans and lines could be available for you. This includes introduction rates of 0% on credit lines and about 6-15% rates on term loans of 3, 5, 7, and 10 years.
With term loans you will need to provide financial information, such as tax returns etc. For the Lines of Credit, you will probably not need to show any financials. They strictly use your past credit history, using your Good Credit Score as the indicator for repayment.
Key 2: Cash Flow
Do you have a minimum of 3 months’ time in business, have generated at least $20k+ in monthly deposits with a minimum of 3+ deposits per month, and an average daily ledger balance of at least $1k?
If you can answer yes, you have the possible options of everything from a merchant cash advances, lines of credit, to a long-term SBA loan. The rates and terms for possible financing options can vary greatly.
We can get you started with just 3 months of business bank statements and filling out a simple one-page application.
Key 3: Collateral
Do you have at least $35k+ in retirement assets that are NOT with a current employer?
If yes, we can access some or even all of those funds tax and penalty free through a Business Directed Retirement Account Program.
Do you have at least +/- 50% equity in some investment residential real estate and/or commercial properties?
If you can answer yes, we can provide you with a cash out refi and offering up to 75% LTV.
If you can answer yes to at least one of these questions, we can provide some potential financing options for your new small business.
Our funding range consists of $25k-$350k; however, we can fund up to $20M through 0ur Stated CRE Programs!
