We all know how tough these are to obtain and we know they don’t happen quickly but did you know that the SBA has approved over 50,000 of these loans in each of the last two years? Approximately 25-30% of them went to startups so ask us if these are an option for you.
We will help you get setup with freely spendable business credit lines that can be spent on anything your business requires to operate & grow – not just gas or store branded credit. Get the working capital you need today & ask us about getting your funding WITHOUT pledging collateral.
Looking for a small business loan for some equipment? Don’t use your working capital line of credit for a long-term form of debt like this! If you do not have good credit it is fine if you have collateral or a down payment – let us know and we’ll help you finance your equipment the right way!
Perhaps the most popular financing solution of the last 5 years has been what’s referred to as a Merchant Cash Advance. Also known as MCA’s or Cash Advances. In recent years, many companies have moved to models that focus more on bank statements and less on visa/mastercard transactions. At LenCred we’re not big fans of MCA’s because of how costly they are but we absolutely LOVE helping small business owners avoid MCA’s or get out of MCA’s by refinancing to a lower cost business loan. Ask us about our lenders who specialize in 2-10 year repayment terms rather than 6-12 month terms like most MCA lenders. If you do not have good credit (bad credit) that is okay if you’ve got at least $10k/month in revenues.
If you have an established business with a book of receivables out there you should be considering a factoring facility. They can be less expensive than accepting credit cards & with the right lender you’ll have amazing flexibility as well as highly competitive pricing.
Perhaps the most popular form of financing in the franchise industry. If you need funding for your business and you have some retirement savings then don’t trust just anyone with this transaction. Let us know and we can connect you with a qualified professional who can answer all your questions honestly and who has experience working with the IRS to facilitate thousands of these transactions compliantly.