Business Types: business services, food and beverage, auto, plumbers, medical (doctors/dentists), manufacturing, software and technology companies, energy, distribution, transportation, and franchises.
Loan Types: expand inventory, add employees, equipment purchase, marketing costs, and repairs
Geography: Nationwide (certain products are only available in select markets)
Loan Size: $1,000 - $4,000,000
Loan Term: 6, 12, 18, 24, and 36 months
Time in Business: Most programs require one (1) or two (2) years in business with some requiring only six (6) months in business.
Minimum Revenue Qualification: $10,000 revenue per month.
Interest Rates: 4.99%, 9.99%, 17.99%, and 24.99% tiers.
Loan Fees: 2 -12%
Closing: 3 -15 days.
Amortization: Interest Only
Credit History: 500 minimum personal credit score. Business Credit also reviewed. Must be two (2) years removed from any foreclosure or discharged from personal/business bankruptcy. If any tax liens, must be in payment plan or satisfied.
Cash Flow Requirements: minimum average daily balance of $1,500 per month. Minimum volume of deposits per month $5,000 or higher with a minimum of 5 deposits per months. The business must have a consistent range in deposits and no more than two (2) negative ending days per month.
Documents Required: Following the initial screening questions, we will require a specific application for specific product, six (6) to 12 months bank statements, two (2) to three (3) years tax returns. Some programs may require recent quarter credit statements, YTD profit and loss, two (2) year proforma, and current balance sheet.
Required link to pull tri-merge credit reports:
Now Is The Best Time to Apply, Qualify and Get an Approval-- Before You Need It!
Loans made with Accounts Receivables used as collateral*