210-985-6650
So, what type of funding do you need? Wondering "where can I get a small business loan for a new business?” Small business loans can help you reach many of your business goals. They can help you keep control of your profits and business, avoid problems with loans from family or friends, and protect you from putting your personal assets at risk.
Your need for capital will vary from smaller, short-term financing for purchasing equipment, buying new or additional inventory, and leasehold improvements to more extensive, longer-term loans for expansion projects and growth.
At other times you may only need a simple line of credit to purchase products and services, meet payroll, or finance accounts receivable. CB Insights reported 29% of businesses failed because they ran out of cash, despite the new options for small business loans.
While specifics may vary slightly, the general small business loan requirements include the same primary elements.
Since you assume responsibility for the small business loan, your credit score matters and plays a large part in determining the loan amount. Keep in mind that if you have more than one owner, the bank will want to see credit scores for everyone, along with the overall business credit score. Before heading to the bank to apply, it may be in your best interest to check your credit report for any inaccuracies. Also, if you are close to a higher threshold, you may want to take steps to boost your score that little bit.
The bank needs to see your business banking records to assess the foundation and assign a rating, which determines how much the business can borrow. Try to abide by the following tips to make sure you are in good standing:
Keep in mind that there are key numbers the bank will look at when determining your rating and loan amount. Lenders like to use a broad approach, so they will want annual gross sales along with monthly numbers for the following:
Some lenders ask for collateral while others do not. However, most lenders request that you list company assets on the application. They want to know what could cover your obligations in the event you can’t repay the loan. Alternatively, you can provide proof of sufficient deposits into your business bank account that can provide confidence to the lender that loan payments can be met.
We’ll review your business information and our team will lay out all the funding options we have available.
Fixed amount loan repaid in regular installments over set period
Flexible credit limit borrow as needed repay, and reuse again
Flexible equipment loans tailored for you business.
Manage cash flow gaps and access working capital
Leverage your sales to help with fluctuating or seasonal revenue.
Access capital based on the strength of your business assets.
Get the funds you need upfront with great rates, with the option to apply for more when needed.
Simple Application
Fast and simple application.
No impact to your credit score for inquiring.
You'll get paired with your own dedicated Business Financing Advisor to discuss your options at no cost!
Receive funding FAST!
Business Loans
Business Line Of Credit
Equipment Financing
Startup Funding
SBA Loans
Franchise Financing
Merchant Cash Advance
Asset Based Lending
Accounts Receivable Financing
We also have programs for Franchise Financing and Consumer Financing.
Some of the industries that we work with:
Contractors
Restaurant/Food Industry
Cleaning Services
IT/Software Development
Medical/Dental/ Veterinary Services
Funerals
Supply/Retail
Pet Grooming
Auto Repair
Construction
Real Estate Investors
Let us help you find the cash you need to grow your Business.
21750 Hardy Oak Boulevard Ste 104, San Antonio, Texas 78258, United States
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