Over 90% of business loans now come from alternative lenders, not conventional banks. These alternative lenders only typically work with 1-2 limited funding programs, strangling your chances of getting a good loan. We work with all legitimate funding programs available today, offering funding through hundreds of investors and lenders. This gives you the best opportunity to get more funding at great terms.
Invoice Factoring Loans
Cash-flow issues are common, even if you run a profitable small business. This is especially true when you need cash right now but have customers who won’t pay for goods or services until later.
With invoice factoring and its closely related counterpart, invoice financing, you can turn unpaid invoices into needed funds
There are many uses for the cash you receive from factoring invoices. The extra cash can make it possible to take on new business. You could also use the extra cash to take advantage of bulk or early purchase discounts on materials. You could even use the money you receive from invoice factoring to fund every day operating expenses such as payroll and rent. Factoring invoices is a great option for small or medium businesses that need financing to grow but are having trouble securing funding from banks.
Purchase Order Financing
Purchase-order finance isn’t new, but lenders say interest in P.O. loans has boomed in the past two years, as bank lending tightened. A typical P.O. borrower is a product manufacturer or wholesaler delivering goods to big customers such as national retailers or a government agency.
A P.O. loan is a fee-based, short-term loan–there is no interest charged. The transaction works like this: A business receives a large order but doesn’t have the cash to get the required goods made. To see if a loan can be made, the P.O. lender investigates the credit history of the borrower’s big customer–not the credit history of the small business seeking the loan. If that big end customer has a solid track record of paying its bills and has the cash flow to pay for the goods it has ordered, a loan can be made.
Cash Advance Services
Cash advances are able to secure access to capital in as little as a few hours once all the proper documents have been submitted. Instead of waiting for weeks or even months to find out if you are eligible for a bank loan or a line of credit. Cash advances can have a big impact on the success of your business and are a great way to get working capital when you need it the most.
Business cash advances work by advancing you a cash amount that is determined by your historical revenues. It is a simple and easy way to get the working capital your business needs quickly. Good credit is helpful but not necessary to get you approved for the capital your business qualifies for. Also, remember these terms are much shorter and the interest tends to be higher as well.
Small Business Loans
Rates are lower than cash advances, approximately 7-9%. Loan amounts range from $50K to 500K. Clients must show they have been in business for a minimal of 2 years and principals must have a good credit rating. These can be provided for any type of small business. There are two different types of Small Business Loans, some that are backed by the government which qualifies as SBA (Small Business Administration) loans and others which are term loans issued through banks.
Generally, this is the best type of financing but since you have to be in business for 2 years they don’t generally help startup get off the ground.
These are asset based loans that evaluate the property value as well as the total monthly revenue produced by the business. These type of loans are able to secure lower interest rates and higher loan percentages when good credit is available.