One of the hardest tasks a new business owner will face, is finding money to startup a new business. Even though you may have a great idea and a solid business plan put together, it is very difficult to get financing from a traditional bank. Traditional banks rarely lend money for startups unless you have an excellent credit history that shows at least 2 or 3 years of history, and some type of equity stake in the business.
One of the main reasons why startup business loans are so hard to get is that there is no history behind the business, which makes it much riskier than loaning money to an already established business.
At Small Business Capital US we love to help startups, and can help you gain access up to $250,000.
It has always been the American dream to build a business that satisfies all of your customers needs, and make your dreams of being a business owner a reality.
We look at all the great companies across America and think, they all started somewhere, and they all needed funding to get started. We love to listen to entrepreneurs share their ideas on the type of business they want to start. Yes, the risk is greater working with startups, but the reward is amazing when we see another successful business up and running that we were able to help with a business startup loan.
It can get confusing looking at the many different options for funding, but it really boils down to two things: How do I know if I qualify for funding? and How can I be sure that this is the best funding available?
We've already helped thousands of entrepreneurs gain access to Startup Business Funding, and for each person put together a "custom plan" that ensures that you will get the best available funding in the industry.
Many new entrepreneurs that come to us can qualify for 3-7 year term loans, and even 0% personal and business lines of credit with terms up to 18 months.
How Do I Qualify?
Key Features of a Startup Business Loan:
We have a simple application that takes about 30 seconds to complete. Once completed, set up an appointment to have one of our specialists call you and go over your funding options, it's that simple!
Or Call our Toll Free Hotline to speak to a funding specialist.
Making Sense Of Lending Terms
As a business owner there comes a time when you need financing for your business, and you end up racking your brain trying to figure out all of the terms and jargon associated with the lending industry. It can get very confusing and make even the most determined business owner want to just give up. It is crucial to the success of your business to get the right loan, which makes it a must to review these terms before approaching lenders. So many times business owners get higher interest rate loans than they should have, simply because they did not have the information to make an informed decision. We've put together six of the most common terms below:
No matter which type of business financing you qualify for, at Small Business Capital US we have options for any type of loan that your business may need. Our friendly staff will do a free evaluation of your business and give you all of the options that you qualify for from over 90 programs that we provide. Request a free quote, or simply give us a call at 800-681-0834.
Working Capital Loans 101
Many new business owners may not be familiar with the term Working Capital Loan, as well as business owners who have tried traditional banks but have been turned down. In general it is a short term loan designed for business owners who do not meet the strict requirements of a traditional bank loan. It can be used to fund the expenses of your day to day business operations, without the strict requirements of a traditional bank loan. The difference is that it is a short term loan that will not help with long term investments or assets. It is designed to help with fixed or variable costs associated with the day to day business operations.
What Defines Variable and Fixed Costs?
Variable costs will normally include things such as electricity and water, while fixed costs are related to rent and wages paid to employees, just to name a few. One of the biggest expenses with any business is advertising and marketing your product or service, and normally requires a substantial investment to do it properly. The nice thing about a short term working capital loan is that it can be used for any of your fixed or variable cost expenses. Unlike going to a traditional bank, this type of loan does not require a specified place where it has to be spent, you choose to spend it where you need it.
How Important Is Working Capital For A Business?
Let's face it, the economy isn't the greatest, and inflation rates are at an all time high, making it difficult for many business owners just to meet the daily expenses of running a business. Because of this, many business owners have fallen behind on payments, which has caused their credit scores to drop giving them poor credit. This doesn't change the fact that working capital is critical to the success or failure of your business. A poor credit score is anything in the range of 300-629 according to the major credit bureaus, which labels millions of business owners as having poor credit. With a poor credit rating it is nearly impossible to get a low interest, long term loan from a bank. This is where a working capital loan can be a huge benefit to a business as it is not based on credit, but entirely on the revenue of the business.
When Is A Working Capital Loan Right For Your Business?
There are a lot of reasons, but some of the most common are expanding your business, buying new equipment, adding more staff, just to name a few. The best time to get a working capital loan is when revenue is good, and it's time to expand and grow your business. If you're like millions of other business owners who cannot obtain business funding from a traditional bank, then this type of loan is a great alternative, and does not require good credit or endless amounts of paperwork.
What Are The Benefits Of A Working Capital Loan?
As mentioned above, they don't require good credit, or endless amounts of paperwork. Some other benefits are that you do not have to put up any of your assets as collateral, and funding usually happens in 3-5 days, not months. As far as documentation goes, all that is required is a simple one page application and your last 3 months business bank statements.
What Are The Options For Repayment?
These are short term loans, usually between 6-18 months, and have either a daily or weekly payment option, there are no monthly payment options. Often times business owners will confuse these alternative loans with traditional bank loans and want a monthly payment, they don't exist. The advantage of the working capital loan is that your business is only in debt for a short period of time, and you can get discounts for early pay offs.
At Small Business Capital US we have over 95 different types of working capital loans, and will work to customize a program that fits your business needs, specifically for your company. Give us a call at 800-681-0834 for a free consultation, or just click on the button below.
3 Ways To Get Capital When Starting A Business
One of the biggest questions that future business owners have is where do I get the capital I need to launch this business into reality. Google states that over 100,000 searches are done every month in 2019 of people looking for capital to start a business. When it comes to Start Up Business Loans, it can be very confusing with so many companies advertising hundreds of different ways to get capital. Future business owners need to be very cautious when selecting a start up business loan, as there are many out there that are not healthy for a new business. There are really only a handful of business loans that will be economical, and really give your new business a chance at success. In this article we will go over the ins and outs of three types of start up loans that will give you the best chance at success.
Existing Retirement Savings Accounts
Not many people are aware that if you have existing retirement savings accounts, such as IRA's and 401(k)s, you can use these accounts to invest in your start up business, tax deferred and penalty free. By using these types of accounts to fund your new business, you start out using your own money, and have a company that is starting debt free. At Small Business Capital US we have a plan that makes it possible for you to roll your retirement accounts into starting your business, minimizing or eliminating putting a load of debt on your company. The great news is that this program only takes 2-3 weeks from start to finish to get the capital you need to start your business.
Personal Lines Of Credit
This is another cost effective way to get capital to start your business with low interest rates. With these types of loans you get access to a line of credit that allows you to use as much as you need, and only pay on the balance you are using. Then as you need more capital, simply log into your account and draw as much as you need. These types of loans are for those with excellent credit history, and have credit scores above 680. Paperwork is minimal, only requiring a one page application and your last year tax return. Many new business owners prefer the personal line of credit due to the fact that the process only takes a few weeks, and credit lines go as high as $250,000. At Small Business Capital US our process is very streamlined, and requires very little effort on your part, we do all the heavy lifting for you.
For those who have two to three months to wait, and have excellent credit, an SBA loan is another low interest loan that is healthy for a start up business. These are loans that are done through a bank and a portion of the loan is guaranteed by the US government. There is a lot of paperwork involved as they do require a complete 2-3 year footprint of your personal finances, a solid business plan, and complete listing of your assets. Because of strict regulations, it has become very difficult to get approved for a loan of this type, only 20% who apply actually get approved. Because of this, many traditional banks are starting to work with alternative lenders to help people get the capital they need when starting a business.
At Small Business Capital US we strive to help start up business owners, as well as existing business owners, obtain the lowest cost loans options available to suite your business needs. Our process is unique in that all of our clients speak directly to their underwriter when discussing loan options. We currently have over 95 programs available, and a team of experts to help you each step of the way. Our industry leading 95% approval rate is unheard of, and why our clients refer their fellow business owners to us. Getting the capital you need, when you need it, can mean the success or failure of your business. For a free consultation, give us a call toll free at 800-681-0834, or just click on Contact Us or the button below.
3 Reasons Why Business Finance Is Needed In 2019
Several surveys completed with business owners showed that many are planning on expanding and updating their businesses in 2019. Lenders are paying attention to these surveys and gearing up to loan more money than in any previous years, which makes it a great time for business owners to capitalize on the financing they need to meet their goals. There are many reasons, and many ways to expand and grow your business, but we'll just go over 5 areas that can have a very positive impact on your growth.
It may be that you have outgrown your current facility, and realize that by hiring more staff you could increase revenue, but you're just not ready to invest in a new property yet. This would be a great time to get a line of credit that you can use as you need it, add more space to your current location, and hire more people.
Old equipment that is outdated is one of the biggest complaints of employees who operate it. Between needing time consuming repairs, and just being so slow compared to updated versions, it takes much longer to get the job done. In business, time is money, and the longer it takes to get the job done, the more cost it adds to the bottom line, creating less revenue.
By obtaining a business loan or line of credit from Small Business Capital US, you will be able to purchase new equipment which will benefit you in many ways. The first benefit will be happier employees who have safer and more efficient equipment to work with. A second benefit is the incentive given by the government that allows for write-offs for capital equipment purchases. Also, you will benefit by optimizing your cash flow and staying competitive in your market place.
You may be at a point where you have enough sales that you are running out of inventory before the end of the month, or right before a holiday. By making sure that you have the right amount of inventory, revenues will increase greatly every month, and every holiday or busy season. If you happen to be on the vendor side of business, business owners will have confidence in purchasing from you when you consistently fill their orders.
These are just a few of many reasons why your company may need financing in 2019. No matter what type of financing you need, at Small Business Capital US we've got you covered. From Lines of Credit, Equipment Financing, SBA loans, term loans, working capital loans, asset based long term loans, to merchant cash advance, we have business financing for all of your needs.
Are You Maximizing Your Efforts To Grow Your Business?
The work week has come and gone, it’s finally time to put that behind us and enjoy some personal time! The weekend is often seen as the golden exception to the everyday grind we are committed to Monday through Friday. Those two glorious days are seen as a time for celebration, relaxation, family, and football. Who in their right mind wants to work while everyone else is having fun? Wouldn’t that be irresponsible of me? The answer is NO!
As entrepreneurs and business owners, you are often faced with the constant balancing act of work, family, health, and personal time. It often feels like a battle that will never be won because there is not enough time in a week to achieve everything! You put aside two days a week to try and fit in all of the outside work activities and come up short almost every time. The good news is that you don’t have to continue feeling this way and can actively do something about it! Below are 5 Tips to maximize use of your time and actually create more of it rather than managing it!
The 5 Tips To Maximizing Business Growth On The Weekend
1) Make A Prioritized Goal List
Most business owners have set their goals for 2019 to be the best year yet in business, but maybe there are some things that you have been putting off, like getting a working capital loan to grow and expand your company. No matter what type of loan you need to enhance your business, at Small Business Capital US we have everything from Lines of Credit, SBA Loans, Term Loans, Commercial / Residential Loans and Cash Advances to help grow your business. Click below to request a quote, and find out how much, and what type of loan your business qualifies for.
Fast and Flexible Unsecured Business Line of Credit
Business Lines of Credit are a very popular option among business owners these days. The question many people ask is what are the differences between an Unsecured Line of Credit and a Secured Line of Credit.
The simple answer to this question is that a Secured Line of Credit involves putting up, in many cases, property and equipment for collateral, or receivables on accounts. This type of loan has an asset tied to it that can be taken away in the event of a default. To obtain a Secured Business Line of Credit you will need to have very good credit, and the process normally takes 60-90 days to complete. Because there is an asset tied to this loan, there is less risk involved for the lender, which means lower interest rates and longer terms.
An Unsecured Line of Credit does not require any collateral to be tied to the loan, it is a revenue based loan. You also need to have very good credit to obtain this loan, and at least an average of 25k per month revenue. The terms will range from 6-18 months, and interest rates will be a little higher because there is more risk involved. This is the more popular option of the two, mostly because it can be completed in 7-10 business days, there is no collateral involved, and amounts can go up to 250k. Since this is the more popular option of the two, we will discuss the benefits and qualifications for an Unsecured Business Line of Credit.
With this unsecured line of credit, you draw from it as much as you need at the time, and only pay for that portion that you are using. You can draw more as often as you like up to your credit line limit, and as you repay each draw, you can continually draw more. Every 4-6 months your account will be reevaluated for higher line of credit amounts. If you decide to pay off your balance early, most lenders only require the principal amount to be paid, saving you money on interest.
4 Benefits Of an Unsecured Business Line of Credit
Minimum Qualifications for an Unsecured Business Line of Credit
Documents Required To Apply
At Small Business Capital US we provide a variety of business loans including SBA, Unsecured Business Lines of Credit, Secured Lines of Credit, Term Loans, Merchant Cash Advance, Startup Loans, and Commercial / Residential Loans. To see which loan, or loans your business qualifies for, just request a free quote below.
Business Ideas To Help You Grow
At the beginning of every new year, it is a time to reflect on how your business did the previous year, and then take a close look at the newest trends that can help your business grow in the new year. When you read about the latest business news for 2019, five emerging trends stand out as avenues to grow your business.
No matter if you are expanding your team, or spending more on advertising, it can often times take a few months to see the revenue grow, and it costs money to do these things. At Small Business Capital US we have a variety of short term and long term business loans to cover the costs until you see the additional revenue. When you need a loan of any kind, we've got you covered. Request a Free Quote Today, or give one of our experts a call to see what options are available for your company.
How Can I Keep Up With This Metric?
As a business owner, you understand the importance of having adequate business capital available on a day-to-day basis. You know that your gross revenue needs to be larger than your expenses in order to produce a net profit. These, among other factors, help make up your business cash flow. It is important that you understand how this metric works and that you check it regularly to optimize your business’ performance month-to-month.
What Is My Business Cash Flow Exactly?
Your business cash flow is a representation of where your revenue comes from and how it is spent. You can usually access this statement from your accounting software where it will be broken down by incoming revenue and cash outflows.
Types of incoming revenue include operational revenue and non-operational revenue. Typical operational revenue includes sales or billable services provided. Common non-operational revenue includes dividends from external investments that are not related to your business’ day-to-day activity.
Cash outflow is the other side of the coin, where your business cash is being spent or expensed. There are many different operating expenses along with business debt that will be added together to define your monthly cash outflow. Some standard operating expenses include rent/mortgage, utilities, payroll, insurance, and supplies.
How Do I Read My Cash Flow Statement?
It can be intimidating to look at your cash flow statement for the first time, especially those of us who struggled with math in school. Fear not, getting a grip on your company’s cash flow is less daunting as it may seem with a little organization! Your cash inflow and outflow can be grouped into Operation, Investment, and Financing categories. See the below descriptions for a basic summary of each category:
Once you have organized your revenue and expenses, it’s time to reconcile your statement to create a closing balance. If your closing balance is higher than your opening balance, your cash flow is positive. You may discover that short term financing or a business loan is needed to boost your capital into the positive. Applying for and receiving business funding has never been easier, click the link below and get started today!
When is it a Good Time to get a Fast Loan?
Nobody knows what the future holds in store, and even though you may have planned for the future, sometimes events that are out of your control, or opportunities that were not anticipated, come up unexpectedly. The good news is that there are business loans out there that can be obtained very fast.
Here are some common reasons that you may need to get a loan very quickly.
You Came Up With A Brilliant Business Idea
Many business owners who have been in business for awhile have come to realize that if they opened another location in a high traffic area that it would greatly increase their revenue. So they research the area and find a location that is in the perfect location for their services, but there are also other business owners looking at that location as well, and whoever comes up with the money first to obtain it will get it. Now you're in a spot where you need some cash fast! We at Small Business Capital US have helped many business owners with a 72 hour fast cash Merchant Cash Advance in these situations, while also putting together long term SBA loans for the renovation and preparation of opening the new location.
Your Equipment Is In Need of Repairs or Replacement
As everyone knows, machines are made of metal and wear out over time, either needing expensive repairs or to be replaced entirely. You may be in the middle of a big job, and an expensive piece of equipment breaks down, holding up your progress, and delaying the time in which you will get paid, as well as giving you a bad reputation with the client for not finishing the job when you said that you would. This could be a time when you need a fast injection of working capital to buy new equipment or repair what you have. Many business owners have used our 72 hour fast cash program to get the equipment they need in a hurry.
Inventory Is Running Low
You may find yourself in a position, especially during the holidays, when sales are so high that you are running out of inventory, and do not have the cash on hand to replenish at the rate you are selling it. This is another time when you may need some fast cash to take care of immediate inventory needs. One of the best things that you can do as a business owner is anticipate the months when your sales are higher than normal, and make sure that you have access to fast capital when you need it. Business owners come to Small Business Capital US daily and obtain a Secure Line of Credit beforehand to ensure that they can draw as much capital as needed by simply logging into their Line of Credit account, and transferring the money into their business account immediately.
You Need to Add Staff
A local contractor put in a bid on a project that was bigger than any job that his company had ever done, not expecting to actually get the job. One week later he received a notice that his company had won the bid, and the client wanted them to start on the project immediately. The contractor knew that he needed a dozen more workers to complete a project of this size, but did not have the capital in reserve to hire and pay them until revenue from that job started coming in. That contractor came to Small Business Capital US and obtained a short term bridge loan to cover expenses until we completed his SBA loan 30 days later.
The Bottom Line
Being prepared for the unexpected, and the expected, is just good business sense. No matter what your situation is, at Small Business Capital US we can help you with short term fast cash loans, long term SBA loans, Lines of Credit, and Term Loans. Our knowledgeable staff will compare loans that best fit your business, give recommendations, and walk you through our streamlined process for each loan. Request a Free Quote or give one of our friendly staff members a call today for more information.