Better Business Lenders, Inc.has several lending options for small businesses depending on credit history, length of time in business, cash flow on bank statements, etc.
SBA loans are available as well for business acquisitions!
There are many loan products available depending on the credit score of the principals, the length of time in business, the cash flow documented on tax returns and/or business bank statements, and the type of business.
Traditionally underwritten Small Business Administration loans are available up to 90% Loan to Value on purchases of real estate.
Term loans from $2,000 to $2,000,000 are available with zero out of pocket fees or closing costs. Credit scores to 500 considered. Most business types considered.
Business Cash Advances
For those businesses who have not been in business for very long or who have other issues where they miss term loans or SBA loans, cash advances are a good option. These are advances on the cash you are projected to collect either in your overall bank account or specifically your credit card processing.
Some transactions are best handled through equipment leasing. Your loan officer will help you determine if this is a good option for you. 630 credit score required and at least 1 year in business.
Step 1: Complete a secure Loan Application
Step 2: Upload documents as requested during the application process. Be sure to watch out for emails from us in case other things are needed.
Step 3: Receive Your Letter of Interest (LOI)
You will receive a LOI from your loan officer for signature to move forward.
At this point, any processing fees, appraisal fees, etc. will be due and are non-refundable. Your loan officer will cover these in detail with you to make the process as smooth as possible.
Step 4: Collect your funds at the bank after closing!