Get Business Financing, Without The Hassle

Generally, we like to start with a 15-30 minute introductory call. After the call, we will send you a complete request list of items that are needed to determine feasibility and more fully evaluate the opportunity. Our review can take between 3 business days to one week and is contingent on receiving all requested items. If a deal is feasible, we will then begin submitting your information to our close network of lenders. We generally begin to receive term sheets and offers within 1-2 weeks. Once we have aggregated all offers, we will discuss them with you in detail. Once you decide which lender you would like to proceed with, we will work with you to compile additional lender specific requests and submit the package for underwriting. Underwriting with most lenders can take 2-3 weeks from submission of a complete package. Our goal is to assist you to get an approval and close the loan as expeditiously as possible.

Most requests can take 60-90 days from application to funding. We are not a quick fix funding solution. We are here to set your company up for success with traditional lending solutions. The process can take time and will have setbacks if there are delays on information requests from you or third parties.

No. Your credit is only pulled once you have moved into formal underwriting with a lender. For this reason, it is important you are upfront with us regarding your personal credit score, personal credit history, and inform us regarding possible liens, judgements, bankruptcies, and active litigation.

Our success rate speaks for itself. 99% of our loans have been approved to date. We believe in only submitting requests that will result in an approval. Accordingly, we do an extensive underwriting of the quantitative and qualitative aspects of the company before submitting your company info to lenders.

Every loan is different, and this will be discussed with you earlier on in the process. Before sending you term sheets from lenders, we will send you an agreement to execute so we can ensure we are all on the same page regarding the nature of our relationship and how we will be compensated.

Not necessarily. This is very lender specific. We work with all kinds of lenders all over the country. If a banking relationship is required, it is generally delineated on the term sheet.

Loans can close as fast as 30 days and as long as 90 days, in some cases longer.

Generally, immediately after closing. In some cases, it may take some time to set up you line of credit online. In these cases, your loan officer can ensure you have funds that same day if you need.

Depending on the lender and loan structure, you may receive a check or wire at closing. In some instances your loan may have multiple disbursement option. This means that as you need the funds, you’d submit a request to the lender who will either wire the funds to you directly or will pay your suppliers directly. It is important to understand this earlier on in the process.

We will help you make this decision before we submit your information to any lenders. Generally, lines of credit are to support a short-term need. Term loans are to support long-term needs. It is important for your financing arrangement to be aligned with the need, and we will have this discussion with you earlier on in the process.

A short term need for example is if you had to pay your suppliers, but you do not have the cash to pay them yet since you are waiting to collect from your customers. In this case, a line of credit would be appropriate. You can draw down on the line of credit to pay your supplier. As soon as your customer pays you, you can then pay down the balance on the line of credit. Interest is generally only charged for the period that you had drawn down on the line of credit.

A long term need is when you are financing something that your will recognize the benefit from over a long period of time. For example, if you were to buy a piece of equipment that will last you 5 years, it would make more sense for you to finance the purchase over a period of 5 years. With a term loan, you make fixed (unless you have a variable interest rate) monthly principal and interest payments. Interest is calculated based on the outstanding principal balance, and as you make more payments, your principal balance decreases as well as your interest payments.

It depends on the loan.

Some lines are good for a few years while some have an annual renewal process.

It depends on what the need is and how the bank underwrites the loan? Term loans can be for as short as 5 years and can go for as long as 25 years. For non-real estate loans, the max term is generally 10 years.

Often times, yes. In general, the bank will file a UCC-1 on all business assets to secure themselves if a loan goes into default status. Sometimes, lenders can require specific collateral as well, like inventory, accounts receivable, equipment, or real estate.

Yes. Any owner that has more than 20% equity in the business, will have to personally guarantee the loan. Some lenders have a 10% threshold. In some instances, if the key owners do not have good credit or financial capacity, the lender may require additional guarantors.

The bank can charge an origination or commitment fee. Some banks charge packaging fees. You will also generally be paying the banks legal fees. Other fees can include appraisal and environmental fees (if real estate in involved), UCC and judgement searches, business valuation fees, recording fees, and miscellaneous. Most of these fees are generally rolled into the loan.

It depends on the strength of the deal and the benchmark rate the lender uses. Since we only work with conventional and SBA lenders, interest rates are highly competitive relative to other kinds of business loans. For SBA loans, the SBA regulates how much interest a lender can charge. As of today, the maximum interest rate an SBA lender can charge is Prime + 2.75%.

SBA 7(a) loans are business loans from traditional lenders that are backed by a guaranty from the United States Small Business Administration. The guaranty allows lenders to make loans to businesses that would otherwise be deemed too risky or that do not fit a lender's credit box.