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Small Business Financing

How can I get some form of small business financing?

How you can get different types of small business financing.
How you can get different types of small business financing.

Show A Likelihood For Sustainability Or Growth

If your business has been operating for at least a year and is, in general, a healthy business which shows a potential likelihood for sustainability or even growth, you may qualify for a small business loan up to as much as “$500,000.00” (paid back over 3 – 36 months) or a line of credit for up to “$100,000.00” (paid back over 6 – 12 months).

The majority of businesses which are approved for these types of loans usually have:

  1. A minimum of $1,000.00 in their business checking account at all times.
  2. A minimum of 1 year in business.
  3. An owner of the company with at least a 500 FICO score.
  4. No bankruptcy or foreclosures filed in at least the last two years.
  5. The business brought in at least $8,500.00 in the last 90 days.

These types of loans are generally expected to be used for the following:

  1. Acquire an existing business or competitor.
  2. Purchase inventory.
  3. Invest in new technology or equipment.
  4. Expand or renovate facilities.
  5. Advertise to increase sales and traffic.
  6. Hire new staff.
  7. Support day to day operations.
  8. Meet short term obligations.
  9. Pay taxes.
  10. Handle unexpected expenses.

Businesses that will be, in most cases, immediately declined for financing are the following:

  1. Adult entertainment and materials.
  2. Drug dispensaries.
  3. Firearms vendors.
  4. Government, non-profits, or public administration.
  5. Horoscope and fortune telling businesses.
  6. Lotteries, casinos, raffles, gaming and gambling businesses.
  7. Money services businesses.
  8. Religious or civic organizations.
  9. Rooming and boarding houses.

Businesses that are ideal for this type of small business financing are the following:

  • Administrative Management and General Management Consulting Services
  • All Other Miscellaneous Store Retailers
  • Automotive Parts and Accessories Stores
  • Automotive Body, Paint, and Interior Repair and Contractors Maintenance
  • Beauty Salons
  • Beer, Wine, and Liquor Stores
  • Caterers
  • Child Day Care Services
  • Chiropractors Offices
  • Commercial Screen Printing
  • Computer Systems Design Services
  • Cosmetics, Beauty Supplies, and Perfume Stores
  • Custom Computer Programming Services
  • Dentist Offices
  • Drinking Places (Alcoholic Beverages)
  • Dry-cleaning and Laundry Services (except Coin-Operated)
  • Electrical Contractors and Other Wiring Installation Contractors
  • Electronics Stores
  • Fitness Recreational Sports Centers
  • Flooring Contractors
  • Full-Service Restaurants
  • Furniture Stores
  • Gasoline Stations with Convenience Stores
  • General Automotive Repair
  • General Freight Trucking, Truck loading
  • Gift, Novelty, and Souvenir Stores
  • Home Health Care Services
  • Janitorial Services
  • Jewelry Stores
  • Landscaping Services
  • Limited-Service Restaurants
  • Marketing Consulting Services
  • Nail Salons
  • Offices of Physicians (except Mental Health Specialists)
  • Other Clothing Stores
  • Other Personal Care Services
  • Other Specialty Trade Contractors
  • Painting and Wall Covering Contractors
  • Pet Care (except Veterinary) Services
  • Physical, Occupational and Speech Therapists and Audiologists
  • Plumbing, Heating, and Air-Conditioning Contractors
  • Residential Remodeler
  • Roofing Contractors
  • Snack and Nonalcoholic Beverage Bars
  • Software Publishers
  • Sporting Goods Stores
  • Sports and Recreational Instruction
  • Supermarkets and Other Grocery (except Convenience) Stores
  • Tobacco Stores
  • Women’s Clothing Stores

To learn about the process of acquiring a small business financing visit our Frequently Asked Questions page. Ready to apply? Start your application now and get matched with up to $500,000 today!

Additional Details: Eligibility for the lowest rates with prospective lenders is limited, available only to businesses with the strongest creditworthiness, cash flow, and typically businesses that have shown an excellent payment history on prior loans. Rates subject to change without notice. Lines of Credit allow borrowers to draw the cash directly into a business checking account at any time. Only pay interest on what you draw. Pay back your balance early any time. Receive line of credit draws almost immediately in your bank account. Loans in good standing are eligible for renewal once they are 50% paid down and meet the following criteria: No more than 3 missed payments during past loan term. Zero past due balances at time of renewal. No stacking small business financing with other lenders. The renewal will be a new loan in which a portion of the proceeds is used to pay off the current active loan. Required for approval on all loans: Recent banks statements. We work with a very expansive list of industries; please see the list of preferred borrowers. A one-time origination fee to cover the cost of processing the loan may apply depending on the lender. For more information please see our frequently asked questions.
Downloadable Documentation: Term Loan, Term Loan and Line of Credit, Line of Credit Only   Adobe