$4,000 – $1,000,000
HELPING YOU GROW
Small Business Loans
The biggest complaint from small business owners is that they can not obtain small business financing to help their business grow, too often the small business owner is left hanging and not understanding their options. Enter alternative small business lending for businesses, alternative business loans covers small business financing options that fall outside what a traditional banking institution can offer.
Capital for Business has a better way to access capital. We offer the flexibility to create small business loans with terms that meet your specific needs as a borrower. Our high approval rates mean that we can say ‘yes’ when banks and other lenders say no. You’ll get a dedicated Loan Specialist who has specific knowledge about your industry and will provide you with one-on-one personalized service.
There is no obligation to get started, and no need for collateral or a down payment. Receive a quick decision and get funding in as little as 24 hours.
- Simple. Fast. Affordable
- Get up to $500k in business funding within 24 hours
- Factor rates start at 1.15 and interest rates as low as 9.99%
- Easy business loan application process
- Flexible financing terms
- Won’t affect your Fico score
- Minimal Paperwork
- No collateral required
- Use the loan for any business purpose
Does Your Credit Score Matter When Seeking a Business Loan?
While you’re looking for business funding to support a business, lenders will consider your personal credit score when evaluating small business loan applications. A FICO credit score or Fair Isaac Corporation Credit Score is determined by a variety of factors, known as the 5 Cs of credit: character, capacity, capital, conditions, and collateral. The three characteristics that determine if you are considered creditworthy by a lender include how reliable you have been at repaying debts, the number of on-time loan payments, and your debt to income ratio.
FICO Score Ranges
Exceptional (800 – 850)
Very good (740 – 799)
Good (650 – 739)
Fair (580- 649)
Bad ( 300-639)
The term “bad credit” usually refers to a FICO score of 300 – 630. A low FICO Score might be why traditional lenders often reject small business loan financing, but even if your score falls within this range, you may still qualify for an alternative online business loan from another lender who focuses more on where it’s going rather than what has influenced its past scores.
How to Get a Small Business Loan
1. Knowing Your Credit Score
To get a business loan you should check your personal and/or company’s credit score first. You can improve it by making payments on time; not maxing out your cards or taking too much money as loans from friends and family members without repaying them in full; keeping other accounts open even if they are being used infrequently to keep the average of their age higher than 0 (which will increase this number); paying off any small debts that may be shown on the report for each month instead of waiting until there is one huge bill at end-of-the-year; etc.
2. Research Your Eligibility Requirements, Traditional business lending or Alternative online business loans
Getting a business loan can be difficult if you are looking at traditional bank lending, but there are some options out there. For each type of financing, you’ll need to meet eligibility requirements and criteria in order to get approved:
-Traditional loans require things like personal credit score and years the company has been around, financial statements, personal and business tax returns
-Alternative online business loan lenders look at different factors such as annual revenue and cash flow trends
Alternative business funding options for small businesses with bad credit can be found at a variety of reputable lenders, who offer different repayment schedules and interest rates. Before applying to one lender, consider the eligibility requirements for each loan type as well as what is involved in repaying these loans so that you are prepared when choosing which option best suits your business needs.
Research which types of loans best align with what you’re looking for so that when applying for small business funding, you have the highest chances possible of being approved.
Capital for Business marketplace Minimum Business Loan Qualification Requirements
You can secure funding through Capital for Business marketplace of lenders with the minimum requirements:
- 3 months in business
- $4,000 in monthly revenue
- 500+ FICO score
How can I Use a Small Business Loan?
Let’s take a look at the different ways business owners are using their business capital but ultimately how you use the money is up to you. Getting you the money is what we do and we do it better – and faster than anyone else. So if you want to expand, hire more employees, renovate, or whether you have good credit, bad credit, tax liens, or have been rejected by banks or the SBA, Capital for Business is here to help you get the small business funding your business needs.
What is the Best Business Loan for Your Small Business?
Whether you’re expanding your business, investing in marketing or advertising, or managing cash flow, it’s hard to grow without the right kind of small business financing.
SBA 7(a) loans from $30,000 – $350,000 from the Capital for Business network can be used for debt refinancing and working capital. Working capital includes operational expenses, marketing, hiring, etc. SBA loans can be used to fund new equipment purchases as well.
SBA Commercial Real Estate Loans from $500,000 – $5 million from the Capital for Business network can be used for the purchase or refinance of commercial real estate that is 51% owner-occupied.
Bank Term Loans
A Bank Term loan from lenders in the Capital for Business network is between 2-5 years and loan amounts anywhere from $30,000 to $500,000
- $30,000 to $500,000 loan amounts
- 2-5 year terms
- Fixed interest rate from 7.99%
- Monthly repayments
Business Line of Credit
A business line of credit provided by Capital for Business is based on the revolving credit. That means you can use the funds over and over again. Having a business line of credit provides you with extra flexibility and peace of mind when it comes to injecting money into your daily operations. It helps you avoid downtime and make sure things are running smoothly.
- Receive up to $250k with a business line of credit
- Business lines of credit rates as low as 6% Small Business Loans
Working Capital Loans
Working capital can help you take care of immediate needs in your business, whether that is a cash-flow shortfall or a new business opportunity. No collateral is required for our working capital loans or short-term funding, the required documentation is limited and perfect credit is not needed.
Nearly every industry can get a working capital loan. Working capital loans are perfect for business owners who need short-term funding to grow. Working capital loans are simple, fast, and affordable and are designed to help with seasonal shortcomings with revenue, or the need to boost inventory.
Business Loans for Bad Credit
we have small business loans for bad credit options for business owners with bad credit. Bad credit shouldn’t affect your ability to receive a small business loan so our loan advisors take look at your business revenue and potential, rather than your credit score to find alternative lending options for your business.
Merchant Cash Advance
A Merchant Cash Advance is an innovative alternative to a traditional small business loan. Capital for Business utilizes your expected future credit and debit card sales to be able to provide you with working capital so you can put your business plans into action. Instead of fixed daily payments, the repayment for an MCA is completely flexible.
- Receive up to $500k with a merchant cash advance
- Factor rates as low as 1.15
- Access to business funding in as little as 24 hours
Are you in the need of new business equipment but don’t have the necessary capital on hand to pay for it? Equipment financing done with Capital for Business is truly simple fast and affordable. We are a top-of-the-line marketplace alternative lender that can provide you with same-day funding to purchase any type of equipment that your business may need.
Whether software, heavy construction equipment, vehicles, and much more. You will repay your equipment loan with low monthly payments and we keep the upfront cost minimal to something that your business can afford.
At Capital for Business, Invoice factoring is a quick and flexible source of funds for businesses that are waiting for outstanding receivables to pay. We simply utilize your accounts receivable as the collateral and advance funds against the face value of your invoices. Invoice factoring allows your credit line to grow proportionately with your sales cycle. We can fund as little as $5,000 a month and up to $2.5 million for larger companies.
Business Credit Cards
Business credit cards act as a revolving line of credit and are used for both purchases and payments. Businesses use credit cards with other loan products and are usually used for working capital purposes. Pre-revenue and startup companies can apply and receive these cards also, as well as established companies, of course. The biggest factor for approval is the strength of personal credit.
- Up to $150k
- Rates: interest rates starting at 0% intro rate for the first 6-18 months* and up to 19.99%
- Repayment: Revolving, credit cards are personal lines of credit.
- Fees: 3% to 5% origination fees
- Payments: Low monthly payments
- No collateral required
Credit Score: Must have a good credit score, at least a 680-fico score, good credit history, and a credit utilization not over 35%. Bad credit is not allowed
No Annual Revenue requirements to apply
- *not all cards have intro rates in our business credit card network
Qualifying Factors That May Affect Your Ability to Get Approved for a Business Loan
What are Lenders Looking for on a Small Business Loan Application? What matters to lenders besides credit scores? Lenders tend to request more information, although online and alternative ones require less. When you contact Capital for Business, we ask that you provide us with limited information in order to make the process faster and more efficient. Generally, we look at a business’s annual revenue, cash flow trends, as well as the owner’s credit history of both the business and the individual.
Your business’s annual revenue is one of the most important eligibility factors when it comes to getting small business loans. If you apply and are approved, then typically 8-12% of the company’s annual revenue will be what you receive from lenders.
Lenders also want to know if a business is profitable. A borrower’s chances of approval could be increased by demonstrating significant growth in the last 3 months or more.
Current Debt Obligation:
Lenders will consider what you already owe to other lenders when approving a new business loan. If you have an existing small business loan with another lender, your decision to take on more debt may be risky and could hinder the approval of future loans from various sources as well.
Lenders want to know that you can manage the cash flow of your business and ensure loan payments are made. They consider this when determining whether they will approve a small business loan application.
Lenders in the Capital for Business marketplace offer small business loans with bad credit. Lenders will be looking for red flags, such as bankruptcy or foreclosures.
Tips on how you can improve your credit and increase your chances of being approved for a better business loan in the future
Your credit score is one of the most important signals of your financial health and reflects how well you manage your finances. Depending on the number, lenders might be able to tell whether you’re financially responsible based on this one report alone. If you’d like to improve your credit score, there are several simple things you can do. It takes time and effort but in the long run, it will pay off.
1. Reviewing Your Credit Report
To improve your credit, it helps to know what might be working in your favor (or against you). That’s where checking your credit history comes in. Pull a copy of each major national bureau: Equifax, Experian, and TransUnion. Factors that contribute to a higher score include on-time payments with low balances for cards/loans; having different accounts; older accounts; minimal inquiries. Late or missed payments can lower the account as well as high card balances.
2. Pay your bills on time to improve your credit score
It is important that you pay off all debts in a timely manner. Late payments can cause significant damage and take away from what would otherwise be an excellent FICO score because it will make up 35% of the final number, thus giving lenders more reason not to trust you with money. Over 90% of top lenders use FICO credit scores to determine a customer’s ability to pay back loans. The score is based on five factors: payment history, credit usage, age of accounts, and the mix between different types (consolidation) or the number of new credit inquiries.
3. Aim for 30% Credit Utilization or Less
Credit utilization refers to the portion of your credit limit that you’re using at any given time. It is one of the two most important factors in FICO credit score calculations and so paying attention to it can help improve your overall financial situation. The simplest way to keep this number low is by making sure you always pay off all monthly purchases, however, if spending more than necessary isn’t possible then aim for a total outstanding balance no higher than thirty percent (30%) of our total credit limits on average each month.
4. Limit new credit Requests—especially ‘Hard’ Inquiries
The difference between a soft and hard inquiry can affect your credit score, according to financial experts. Soft inquiries often include checking your own credit or giving permission for employers to check it during the hiring process. Hard inquiries result from banks who want you as their client but have not yet established business with you; these types of searches will lower one’s rating by 5-10 points depending on how many are in that year alone.
5. Keep old accounts open and pay delinquencies
If you have old credit accounts that you’re not using, keep them open. This will increase the average age of the account and improve the health of your score. If a card has been closed but there still is an outstanding balance on it, don’t close it down until the debt is paid off or transferred to another low-interest rate card as this can reduce available credit which could impact the utilization ratio negatively.
In addition to keeping old accounts open with no active balances, when dealing with delinquencies make sure they are reported accurately by ensuring creditor contacts borrower directly first before reporting negative information for proper resolution between both parties before hurting overall history reliability rating.
6. Track Your Progress Using Credit Monitoring
Credit monitoring services allow you to see how your credit score changes over time. These services monitor for any changes in your report, such as a paid-off account or new accounts that have been opened. They typically also give access to one of the three major rating agencies (Equifax, Experian, and Trans Union) where they may be updated monthly with an individual’s current status.
Why should you apply for our small business loans?
Capital for Business has been serving small businesses nationwide for over 15 years and knows what the entrepreneurs value the most. That is why we offer:
- favorable approval rates
- we offer online business loans for small business
- we offer bad or poor credit business loans
- custom-tailored service with a dedicated loan specialist
- reasonable eligibility requirements
- flexible repayment terms on a daily, weekly, bi-weekly, or monthly basis
- hassle-free application process
- same-day approval
Capital for Business is your reliable small business loan marketplace
Are you looking for ways to get small business financing? Capital for Business is a reliable marketplace lender trusted by thousands of small business owners across the U.S. and Canada.
For more than 15 years, we have been helping small businesses grow and develop their companies. Flexible terms and rates based on your business’ performance, and not solely personal credit history, may make Capital for Business loan an attractive option.
Fast Business Funding Solutions for Your Industry-Specific Needs
At Capital for Business we have helped thousands of businesses nationwide from various different industries achieve their small business financing needs. Finding your company the right small business funding options, from construction to small retail stores, and regardless of your credit rating, we will work with you to find the most flexible terms that are most beneficial to your business.
So whether it’s a small small business loan, equipment financing, invoice factoring, working capital, or you are struggling with finding business loans for bad credit, we will tailor small business funding options and work quickly to get your business the funding it deserves.
Industry Specific Business Loans
- Auto Repair and Body shop loans
- Agriculture Business Loans
- Beauty & Wellness Business Loans
- Chiropractic Business Loans
- Cleaning Services Business Loans
- Commercial Trucking Loans
- Construction Business Loans
- Convenience Store Loans
- Daycare Business Loans
- Dental Practice Loans, Electrician Business Loans
- Food Truck Business Loans
- Landscaping Business Loans
- Gas Station Business Loans
- Gym and Fitness Business Loans
- Hardware Store Business Loans
- Manufacturing Business Loans
- Medical Practice Loans
- Pharmacy Business Loans
- Plumbing Business Loans
- Real Estate Agent Business Loans
- Restaurant Business Loans
- Retail Business Loans
- Senior Care Business Loans
- Transportation Business Loans
- Hvac Business Loan
How to Get a Business Loan
OUR EASY BUSINESS LOAN APPLICATION PROCESS
Get Small Business Funding in as Little as 24 Hours
In just three easy steps, you can access the right financing solution for your business. Our fast application and 24-hour funding process give you the working capital needed to grow your business in no time!
Apply in Minutes
Tell us about your business
Tell us All about you
Connect your bank account
Small Business Loan Resources
Trends and Tactics
6 Small Business Survival Tips to Help During This Pandemic
Small business owners suffered a massive loss due to the economic impact of COVID-19. Continuing their businesses has become an entrepreneur’s biggest challenge. As a result, many people have lost their jobs. Do you know why?
A report by the World Economic Forum states small businesses are the backbone of our economy. They employ nearly half of the private workforce in our country. But this pandemic has shattered small businesses. In fact, many owners find themselves with no other option other than to close their businesses.
Important Investments You Should Be Making with a New Loan
If you have recently received new business loans for your start-up, you are in a great position of being able to decide where to put the money. There are tons of things you can do with your small business loan but finding things that will have a long and positive impact on your company is essential. Here are a few things that will help you to use your loan effectively and make your business even better.
Major Initial Business Costs That a Loan Can Help With
Starting a new business is no joke. There are loads of paperwork and financial proofs you need to open up in the first place. After you accomplish all of that, you also need money to do everything. If you don’t have money, request a business loan from your bank. There are many important costs you could use a loan for.
U.S. Small Business Administration Resource Guide
Small Business Resources Guide, National edition
View the National Small Business Resource Guide for information and assistance in starting your business, growing your local business, and exploring small business funding options.
Best Way to Check Credit Score
Your credit score is a number that affects everything you do, especially when applying for a business loan. It’s important to not only be aware of your credit score but to be on top of making sure it’s correct and there are no inaccuracies. While you’re looking for business funding to support a business, lenders will consider your personal credit score when evaluating small business loan applications
Business Loans for Bad Credit
Bad credit business loans are small business financing options that do not otherwise require a high fico score needed for approval, bad credit shouldn’t affect your ability to receive a small business loan so our loan advisors take look at your business revenue and potential, rather than your credit score to find alternative lending options for your business.
FAQ: Small Business Loan
Online lenders in our marketplace provide fast business loans for immediate needs or business opportunities. In most cases, business funding is completed in 24 hours.
Receiving a first-time small business loan can be intimidating and also have the reputation of being difficult, our small business loan advisors will talk to you about your expectations and small business loan needs. Starting off it will be ultra-important for you to know your credit score to determine where you fit credit-wise, how are you planning to utilize your loan, and the amount needed for your business?
Fill out a 4-minute online business loan application, tell us a little about your business, tell us a little about you, and connect your bank.
Receive multiple loan options. Get matched with the best small business loan options from our network of 175+ funding partners.
Get business funding fast. Once your business is approved you can receive capital in as little as 24 hours and of course exploring your options are free and there are no obligations.
The eligibility requirements for small business loans and financing in our marketplace will, in general, ask for 3 months of business bank statements and a credit score of 500, as well as an average monthly revenue of $4,000
Bad credit shouldn’t affect your ability to receive a small business loan so our loan advisors take look at your business revenue and potential, rather than your credit score to find alternative lending options for your business. Most lenders in our marketplace require a minimum credit score of 500 to receive a bad credit business loan, but all credit scores are considered.
When deciding what kind of finance solution is the right fit for your business, you will have to consider all of your financing options. The way your business is set up can have a significant impact on the type of loan you need. There are several types that may be right for you, but understanding how they work will help narrow down what option might produce better results with minimal hassle and cost from start to finish.
Online Business Loans are different from traditional loans in several ways, but one of the most significant differences is turnaround time. Banks often take two months or more to process an application for a loan while many online providers can underwrite your request and approve it within just a day, also having bad credit business funding options for business owners with bad credit is a determining factor as well
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