Small Business Loan
Small business loans empower established or newly-formed companies to secure funds from diverse lenders. Several loan varieties are available to assist entrepreneurs in achieving various objectives. The operational mechanism of each loan is contingent on its specific type.
Perhaps you’ve developed a product that outperforms others in the market. Alternatively, you might require a specific piece of equipment to propel your business’s growth. It could also be that outstanding invoices necessitate funds for covering operational costs. Whatever the case, it might be the opportune moment to consider obtaining a loan.
What is a Small Business Loan?
So, what is a small business loan? Simply put, a small business loan is any funding option specifically designed for a small business. Small business loans allow existing or startup companies to borrow money from various lenders. Various loan types exist to help entrepreneurs meet different goals. The way each loan works depends on the type of loan.
There are many business loans on the market and it can be beneficial to go over just a few of them.
Term Loan – A standard bank-type loan. You receive the funding and pay off the principle plus interest over time.
Accounts Receivable Financing – If you have large amounts of outstanding invoices, you can borrow against them. The invoices act as collateral and AR Financing offers lower rates.
Merchant Cash Advance – A merchant cash advance is borrowed against future credit card sales. A borrower then pays back a percentage of daily CC sales to the lender. So, you never have to see the payments!
Requirements
6+ Months in Business
You can qualify for our top financing options with as little as 6+ months in business.
$5,000+ Monthly Gross Sales
The minimum revenue to qualify for financing options are $5,000 per month, or $60,000 in annual gross sales.
600 Credit Score
Contact Us
We are here to help your business grow. let’s start great things together.
+1 (437) 981-8975
hello@bizbridgefinancial.com