Getting small business financing can be a daunting task. It can be difficult to know where to start. These 5 best practices will help you get started.
1: NO need to Check Your Credit Score
There is no need to check your credit score when applying for a small business loan. Many lenders will look at your business’s history and current financial situation, and other factors that may impact the loan’s approval.
2: We only need your banking statements
There are a few things to keep in mind when applying for a small business loan.
First, you’ll need to provide your banking statements from the last three months. This will help us determine your creditworthiness and ensure that you’re able to repay the loan.
Second, be sure to budget enough money each month to cover the interest and monthly payments on your loan. A small business loan can be expensive, so make sure you have enough cash saved up beforehand.
And finally, don’t forget to keep up with your repayments – if you fall behind on your payments, your small business may not be able to continue operating. So always make sure you have an updated financial plan in place!
3: Discharged bankruptcy ok. We work with you
A business can be discharged from bankruptcy if it has been in Chapter 7 or Chapter 11 bankruptcy for at least two years. This means that the business is in a “clean” bankruptcy and is not subject to any of the penalties that can come with an un-discharged bankruptcy, such as loss of customer base or government contracts.
4: We can find the Right Lender for Your Business
A small business loan for startup companies can be a very important part of getting your business off the ground. There are a variety of lenders who are willing to help, and the best way to find the right one for your business is to do your research.
When searching for a small business loan, it is important to consider what kind of loan you need. There are many types of loans available, including short-term loans, long-term loans, bridge loans, and line of credit loans. Depending on your specific needs, you may want to choose a different type of loan.
For example, if you need money quickly to start up your business, a short-term loan may be the best option. If you have more time and want more flexibility with your repayment schedule, a long-term loan might be better suited. Bridge loans can be helpful if you need money up front but don’t want to take on too much debt at once; they allow you to borrow money over time and pay back the entire amount in one lump sum at the end. Finally, line of credit loans offer businesses greater flexibility than other types of loans but come with higher interest rates and should
5: Get Pre-Approved for a Loan in 24hrs. Get your funding in a couple of days.
We will help you get started on your journey to get business financing. By following these tips, you will be in a better position to get the loan you need to grow your business.