Financing your Business
There are times when a bank cannot be your first go-to option, and you have to look for alternative lenders. Could be that you have a bad credit score and you are in a dire need of a fast business loan for your boutique business? Now you could go down to the loan shark on 5th Willsboro Avenue or just get in touch with one of our team members at Capital for Business.
Usually, in cases of small business owners, it’s an SBA 7(a) loan that we are looking at, which goes for a maximum of $2 million. Whilst there is no standardized way for gauging startup business capital needs, as each venture is different and unique. So, it’s upon you to do your research and due diligence whilst making a list of particular articles you need to cross off to determine a fair cost. The important thing is here is to keep your business afloat, ergo every decision that you make must be towards this end.
Typically, SBA 7(a) financing loans are 25 years for real estate & equipment and 7 years if meant for working capital. Now you may be wondering about the interest rates on all these, well they vary, depending on three base principles; their prime rates, the size of the loan or the total amount, and the maturity of the sum.
Now, Capital for Business is a direct lender so we can offer the flexibility often needed when establishing a small business loan. Next to SBAs, considering our high approval rates, you could also opt for our fast ‘Small Business Loans’. You get a dedicated resource to handle all your queries whilst getting expert guidance from an industry professional. With minimal paperwork, little to no collateral, and swift delivery times, you can use the loan for any business purpose.
For urgent financing, people usually go for SBAExpress loans, which are usually provided by local SBA offices in days; however Financing your Dreamer, with Capital for Business, you just need to be in business for a minimum of three months and you get your business capital loan in mere 24 hours.
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