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Please review articles as needed as a resource.  If you determine a need for financing,
you can complete the online application below.

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Alternatives to Merchant Cash Advance

Alternatives to Merchant Cash Advance

February 19, 2017.  There are several types of business loans that are alternatives to Merchant Cash Advance and ACH bank loan.  Many businesses can qualify for these other options.  Call us for several other options to the daily and weekly repayment merchant cash advance loan. 

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Or tap TEXT US, and Text contact info.

What are alternatives to the Merchant Cash Advance loan and ACH daily repayment loans?

Businesses may qualify for several options that are not daily repayment loans as well as weekly repayment loans.   They include Factoring,  Real Estate backed loans, Business Lines of credit,  and an asset based loan.

Most frequent Requests and calls include the following:
We want another option to the merchant cash advance.  Other calls include:
“I need another loan instead of the Merchant Cash Advance”
“I don’t want a daily repayment loan”, or “no daily repayment”,
as well as “I don’t want a merchant cash advance”.   Many callers
will just say they “want a monthly payment loan”

Other options than the Merchant Cash Advance

Other loans besides MCA Merchant Cash Advance:
Monthly Repayment Business Loans.
Accounts Receivables financing
There are significant benefits to the Accounts Receivables financing, also known as
factoring.   The  biggest benefit may be that it is not a loan.   Another big advantage is
that they are not really an advance of future receivables.  Your business is
not getting money now in advance of money it will earn in the future.
In fact, it is the opposite.

With Factoring, your business gets money that
it already earned and is owed for a relatively small fee, between 1.5% and 5%.   There
is no daily or weekly payment, since your business is getting money that
is due to it.
Asset based loans and asset based business loans.
These loans are almost all monthly repayment loans and normally begin
with terms starting at 12 months to 60 months.   Some have even longer terms, especially if they include Real Estate.
Real Estate backed loans
As mentioned above, Real Estate backed asset backed business loans will be monthly payment loans, not daily or weekly repayment loans.

Get a different business loan than the Merchant Cash Advance MCA or ACH business loan

Businesses that have been denied by a lender for an MCA Merchant Cash Advance may have to get a business loan another way.   Consider one of the options above.   You can call
one of the representatives to discuss the options.   Call us at Tel: 919-771-4177 and a representative will be glad to discuss which options may be best for your business.

Thank you for visiting our alternatives to merchant cash advance page!

 

 

What is Factoring? Factoring Invoices

Factoring

What is factoring?

Factoring lets business get money immediately against their Invoices.   Businesses often have to wait 30 days or longer to get paid on their invoices.   Factoring pays companies between 70% and 85% of the invoice total right away.   Once the Invoice is paid, the remaining amount is paid less the fee.

Help your company’s Cash flow, Expansions, New Markets, Working Capital, Advertising, New Employees, Inventory, Raw Materials, Staffing, Taxes, Equipment Acquisition…..or ANY REASON!

ONLINE APP.  List Email and name to access App.  Attach the last 3 months bank statements, or send App only.
To Call tap Tel # link>, CALL US, then Press Dial.
Or tap TEXT US, and Text contact info.

Get Cash using Invoices.

Advantages.

  • Get up to 85% of the value of the invoice now.
  • Don’t want to wait to get your money?   Now you don’t have to.
  • Improve your company’s cash flow immediately.
  • Use the money to begin new projects sooner.   Those new projects can also be paid faster.
  • Tough Deals are routinely done.
  • No Upfront Application Charges.

1 – 2 Day Approval Process.  Generate more Revenue in your business!

Factoring Invoices
Factor Invoices for Money

In factoring, cash is paid against your invoices.   The factor fronts your company the money today so your business does not have to wait 30 to 60 days until the invoice is paid.  The charge is between 1% and 5% of the invoice.   The amount depends on the strength of the company paying the invoice.

Your business generates revenue by using cash, not waiting for companies to pay your invoices. Turn untapped cash in your company’s invoices into cash today. Credit requirements are easy to qualify for.  Just a 1 page application and list of your company’s invoices is all that is needed to get started.

What is Factoring? Factoring Invoices

Do I Qualify for Factoring?

    • Your business has invoices outstanding.
    • The Company paying the Invoice is an established company.   If so, they are likely already factor for other companies like yours.
    • Invoices as low as $5,000 can qualify.

Consider our most frequent requests by callers:
“How do I get factoring?”.  Callers also make other common requests.
“We need factoring” and “Tell me about factoring”.  Other callers also ask, “Tell me about factoring”, and “We want information on factoring”.

Frequently asked questions

Why Factor?

Factoring is financing that allows a business to get most of what is owed to them on invoices within 1 or 2 days after they send the invoice.   Many businesses have to wait 30 days or longer to be paid on invoices.  This financing cuts down this time frame dramatically.

Question: How much can I qualify for?
Answer:  It depends on the amount of the Invoices that can be factored.  A company that has $100,000 in Invoices that can be factored often gets $75,000 to $85,000 within a day or two.

How soon can we be funded?
Once your account has been set up, invoices are normally paid within 1 to 2 days.

My business is only a few months old.   Can we still qualify?
Yes.  The age of your business is not important.   It is on the company that is paying the invoice.

Question: How important is business and personal credit?
Answer:  Personal credit and business credit is not important for the company that is waiting to get paid on their own invoice.

Thank you for visiting our resource page!   For more business loan resources, visit the SBA for business loan preparation and other valuable information. 

Asset Based Loan

Asset based loan

Get a business asset based loan for working capital, cash flow, consolidation of other loans, advertising, new employees, inventory, raw materials, expansions, staffing, taxes, equipment acquisition, new markets.    Borrowers can use the funds for any reason.

ONLINE APP.  Add Email and name to access App.  Attach the last 3 months bank statements, or send App only.
Or tap TEXT US, and Text contact info.
To Call tap Tel # link, CALL US, Press Dial.

Get Cash Against Assets (Such as Real Estate, Equipment, Accounts Receivables, and more).  Use this asset based loan to get significant working capital that you can use in your business immediately.

  • Fast and Easy process.   Short Online Application and closing.
  • Little documentation.
  • Bad credit and tough deals are often approved and closed.
Asset Based Loan
Asset based Loan for Businesses

Does my Business Qualify for an Asset Based Loan?

    • Assets are free and clear.
    • Assets are valued at $20,000 or more each.
    • Business is active and generating revenue.
    • If your business has Commercial Real Estate with more than 55% equity,  the
      Real Estate may be eligible to obtain a larger loan.

Most frequent requests by Callers:
“Need an asset based business loan”.  “What is asset based financing?” and “need an asset based business loan”.  Other requests include “need an asset based loan”.

What is an asset based loan? 

FAQ’s – Frequently asked questions and requests

“Help me get an asset based loan”

This is a loan that holds the assets of the owner as collateral.   The assets are either Real Estate, Equipment, Accounts Receivables, Stocks and Bonds, Cars and Boats, in addition to Jewelry or other items.   The loan is normally used to get cash or working capital.   A lien is often put on the collateral by the lender.   Once the loan is paid off, ownership goes back to the borrower.  Therefore, the lien process is similar to a traditional car loan at a bank.

Question: “Need an Asset based business loan”.   How can my company get one?
Put together a list of assets your business owns.  Submit the list and determine how much working capital you can get.

 

Thank you for visiting our asset based loan resource page!

Canadian small business Loans

Canadian Small Business Loans

Small business loans for businesses in Canada.   Canadian Business bank statement loans and Accounts receivables financing are offered.  Several alternative Canadian small business loans most businesses can qualify for.

Click Complete Online App now.  Click on attachment and attach the last 3 months bank statements, or just complete Application.
Or, On Cell Phone, just tap either Tel # link, 1-919-771-4177, then Press Dial on your phone.   You can Tap / Click  Contact-Me, complete and we will contact you. 

What type of alternative business loans can I get in Canada?

Canadian companies can find alternative working capital loans available in the United States.

The main option is a Canadian business bank statement loan.

The company’s business cash flow is how they can qualify.  The business needs to have the following:
– $15,000 per Month in deposits each of the last 3 months.
– 5 or more deposits per month.
– An average daily balance of $2,500 or more.

Canadian Small Business Loans
Small Business loans for companies in Canada

How do I qualify for a business loan in Canada?

Review the alternative business loans for businesses in Canada on this page.   Decide which option you may qualify for.   Complete the Online application above or call and talk to a representative and discuss which loan option might be best for your business.

December 8,  2016 – for immediate release, Toronto, Ontario.  Ontario Metal Design closes a $250,000 business loan through smallbusinessloansdepot.com.    President John Deaver spoke to Senior Management in a Quarterly meeting.  “Great Lakes Manufacturing is pleased to announce the completion of a $250,000 Commercial Line of Credit.   We will expand Metal extraction services in Ontario.   Extraction in Northern Ontario will begin as well as hiring field employees and adding equipment.   We will pay the loan down through higher revenues, then draw as future needs arise.  Revenues are forecast to increase by 25% within the first 12 Months, and 50% within 24 Months due to expansion of operations.  We continue to expand our relationship with Smallbusinessloansdepot.com.”

Canadian Accounts Receivables financing

After a Company’s products have been delivered or services rendered to another company, they send an invoice for payment.  Canadian Accounts Receivables financing funds about 75% of the face value of the invoice is paid immediately to the company issuing the Invoice.   When the paying company pays the invoice, the last 25% is paid minus a service fee.

 

Easy and Fast Canadian business loans
Canadian business loans

 

Most frequently asked questions and requests

– “I need a Canadian business loan”, or “looking for a Canadian business loan”.   Some email requests include a “loan for a Canadian business”.

Alternative loans for Canadian Companies give companies ways to correct cash flow issues.   Lenders call them “business loans in Canada”, or “business loans for companies in Canada”.

Thank you for visiting our Canadian Small Business Loans page.

Visit SCORE and receive free and low cost mentoring for business plans and financial statements.

Bank Statement Business Loans

Bank Statement Business Loans

Bank statement business loans for your business.
– No minimum credit score options.
– No Collateral needed.

– Just provide the most recent 3 months complete business checking account statements and the application, below.
– Just 4 months time in business needed.

ONLINE APP.  List Email and name to access App.  Attach the last 3 months bank statements, or send App only.
To Call tap Tel # link>, CALL US, then Press Dial.
Or tap TEXT US, and Text contact info.

Get a bank statement business loan today using your company revenues.  Many businesses have strong cash flow and are still turned down because of bad credit and lack of collateral.

Turn your decline into an approval with our programs.   Get approved for the Capital your business needs using just the last 3 months business bank statements and online application above.

Bank Statement Business Loans
Get an easy and fast business loans through your bank statements

Start Now!

Bank Statement Business Loan features and benefits: 
– 1 day approvals common.  Easy approval.  Fast closing.
– Provide just the Online Application and last 3 months business checking account statements. 

– Every business has Cash flow.  Almost all businesses can prequalify based on their Cash Flow.  
– Very high approval rate.
– Large business loans also available. Programs for business loans over $100,000, 250,000 and $500,000.
– Daily, weekly and monthly repayment options available for many businesses. 

Other bank statement business loan features:

Up to 125% of a customer’s total monthly deposits may be approved.  If your business has average monthly deposits of $100,000, then an approval up to $125,000 is possible.  Higher credit scores, a longer time in business and higher daily balances will usually result in a higher approval amount.

How to qualify

– Provide a Signed and dated application online.
– Send the last 3 months complete business bank statements from the main business account.  Return September 2016, October 2016 and November 2016 business bank statements along with the application.
– For amounts over $250,000, include the most recent 6 months business bank statements and the most recent business tax return.

Other bank statement business loan benefits

– More funding may be offered as soon as 30 days after closing.
– No prepayment penalty for many programs.
– No personal guarantee required.
– Tax Liens < $100,000 can be accepted.
– Most programs require only 50% ownership required.
– Soft Credit pull for some programs.

Business line of credit style use.   The business can use the line and repay when they want to repay during the month.   The customer can then use the line again right away or it can also be left idle until it is needed again.    Annual or quarterly financial statements are not needed for bank statement financing, also known as an ACH Business loan.

Frequently asked Bank Statement Business Loans Questions:

Question:   Are there different products of the same type offered?
Answer:
Yes, different products of the same type are offered.   Callers have many requests. Requests include a “business loan using bank statements”,   a “bank statement loan for business”, and “bank statement financing”.  Callers also request a “business bank statement loan” and a “loan based on bank statements”.

Question: What is the maximum we can get? 
Answer: The bank statement business loan line size depends on the total dollar amount of deposits per month, the average daily balance and time in business.  Other factors are whether the business has any existing short term advances.

Is this product available in Canada and the U.S.? 
Answer: Yes.   This product is available in Canada as well as Puerto Rico.

How long does funding take under the bank statement business loan program? 
Approvals usually take about 24 hours.  Funds are transferred to your business checking account within 24 hours of closing.

What are the repayment terms? 
The repayment terms are between 3 Months to 24 months.

Are Overdrafts and NSF’s allowed?  Yes,   A Maximum of 5 Overdrafts per month, or 5 NSF’s per Month are allowed.

Thank you for visiting our bank statement business Loans resource page!

For further general small business assistance, visit SCORE, Counselors to
America’s Small Business.

10 Problems you may be causing your business – and how to fix them

10 Problems you may be causing your business.

January 19, 2017.  The following is a list of 10 problems you may be causing your business.  They may not include other major problems businesses face.  This list touches on some long standing problems businesses face in addition to advances in Technology.

Not understanding your customers well enough

You have a great product and service.  Just pass the information to an audience waiting to hear it.  Not quite.  You need to understanding your customer’s problems, goals, and priorities.  What do they think they need for their business to prosper quickly?   What do they see as their biggest needs and problems?  Understand this and you will do well with customers.  Your customers will feel your business has the skill and competence to solve their issues.

Make your customers feel like they are the most important ones in the world.

Not Selling Effectively

Not selling effectively is a consequence not understanding your customer’s needs properly. If your business does not have a correct and full understanding of your customer’s problems and needs, your customers will not be very interested in your products or services.  Continue to improve your sales skills and learn how to sell effectively.    Find resources to help your company continue to improve sales skills.

Not Following up

Not doing proper follow up is a major mistake in business. Your business must  have a system in place for the correct people to do follows up with new and existing customers.  If you have new prospects and did not close business with them on the initial call, you want to follow up with them.   Many businesses effectively use an E-Mail marketing systems.   These may be most effective with existing customers.   Simple followup with new prospects is often is one of the most effective ways to get new customers.

Not keeping up with Technology

Many business owners don’t keep up with technology well enough.  Some keep up with some aspects of trends but there many technology advances and updates that business owners miss.  Subscribe to technology groups, websites and magazines.   Get important updates through E-Mail or on your phone. These can help your company with technology, Marketing, Sales, Manufacturing, Accounting and other updates.

Rejecting Criticism

Many business owners reject most, or all criticism.   There are several reasons embracing some criticism is helpful.  You don’t have to agree or accept all the criticism or feedback you receive.     Much of it is unfounded and may come from friends or acquaintances that don’t know enough about your business.   However, sometimes it may have validity  and be things you haven’t thought about.  Keep an open mind and you may hear important ideas of how to improve your business.

10 Problems you may be causing your business
10 Problems you may be causing your business

 

 

 

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On to the last 5 of 10 Problems you may be causing your business.

Check out your competition

Many business owners do not keep track of their competition.   Your way is not the only and best way to run your type of business.  There are important things you should know. Have new companies recently entered your industry?   Are your competitors offering something good you are not offering?   If you are a retail business, have you checked to see if new stores have opened in your market that sell what you are selling?  These are some of the questions you may really want to know the answers to.

Check frequently to see if new products or services have entered the market that you don’t know about.  If new products or services are being offered by competitors that you don’t have, don’t panic.  Knowing about it sooner rather than later usually gives your business enough time to develop a plan and react to the changes.   If you keep track of industry trends, you may be aware of products in your industry in time for you to be among the first to offer them.

Managing Expenses Closely

Manage business expenses from the highest expenses first, in priority to the lower expenses.   Not managing expenses closely enough is often a major factor in business cash flow problems.  An analysis quickly identifies business expenses that are too high or not needed.

Taking on too much debt to start

Many business owners take on a lot of debt to start a business.  The problem can be made worse by using several credit cards to get capital.   Many businesses need several months or longer to begin generating major revenue.   Making Profit & Loss projections before opening the business can pinpoint a risk of cash flow problems before they happen.  Working with an Accountant before opening can help identify cash flow weaknesses. Another good option is to visit a local SCORE office for business advice.   This is the Senior Core of Retired Executives.   They can provide excellent advice.  Many cities and colleges have a Small Business Development Center that can provide assistance.

No new ideas

Good ideas may come from other businesses.   The best ideas come from within.  Focus on what new paths your business can create.  Try to think of business products, services, techniques, sales, marketing methods you have not thought of before.

 Customer Feedback

Find out what your customers think about your businesses’ products, service and staff. Customers many times are more honest when they are not speaking with you face to face or on the phone. This is true if they were relatively satisfied with your services but had some things they would have preferred to be handled differently.

Customer surveys and after service calls are a good way to find out more about what your customers really think. Offer a discount off future service for giving significant feedback and your feedback should increase.

Technology improvements and putting into action some of the long standing business service improvements mentioned above may be the most powerful way to accelerate your business’ path to success.   Follow the tips above and cut down dramatically on these 10 Problems you may be causing your business.  SCORE is an another excellent resource for identifying and fixing small business problems.

Thank you for visiting our page on 10 Problems you may be causing your business – and how to fix them!

Large Business Loan

Large Business Loan

A big business loan is considered and approved by few lenders.  Lenders will many times decline a business loan request because the requested amount is too high.  If your business needs a large business loan or high dollar business loan,  call us today or complete our app below.  

ONLINE APP.  Add Email and name to access App.  Attach the last 3 months bank statements, or send App only.
Or tap TEXT US, and Text contact info.
To Call tap Tel # link, CALL US, Press Dial.

FAQ’s:
What are large business loans?
Businesses loans over $100,000 are considered a large business loan.   Many businesses need a business loan over $500,000 or as high as $1,000,000 and higher.

Large Business Loan
Big Business Loans

Callers request:

I need a large business loan.
I need a high dollar business loan.
Help get me a large business loan
How do you get a large business loan?

I need a big business loan.  A minimum over $100,000.

– Clients say they were declined for a large business loan because their cash flow could not support the new debt payment.

Large business loans over $250,000

Many high dollar business loans are restricted by lenders.

November 10, 2016 – Columbus, OH, for immediate release.  Coates Manufacturing needed a business loan for $500,000 or more.  Their bank declined their request because their net income on their financial statements was too low.   They were approved for a business loan for $750,000 based on their Gross Sales.    President Matt Johnson informed Senior Management at the Quarterly meeting.   “With this financing, Coates Manufacturing will be able to expand Coil Spring manufacturing in the Midwest Region.   We will increase manufacturing by 50% per month the rest of the year and additional employees will be hired.  Switches will be added to our product line.  Sales are expected to increase by as much as 20% in the next 12 months and by more than 50% in the next 24 months.  We look forward to expanding our relationship with Smallbusinessloansdepot.com.”

Business owners say they have been declined because the amount they asked for was too high.  They requested a business loan over $250,000 or more and were denied.  Our programs are designed for higher dollar business loans.

Callers call in and tell us the following:

We need a business revolving line of credit.  Callers request. “Need a big business loan.”  “How do I get a big business loan.”  We need a loan to remodel a facility.
Use the following chart below to determine what you will need when applying for a larger business loan:
$50,000 to $100,000 Business Loan – Application and last 3 months bank statements are needed.
$100,000, $150,000 and $200,000 business loan.   Application and last 3 months business checking account statements are needed.
$250,000 to $300,000 business loan.  Application, last 3 months business checking account statements and Year to date interim Profit and Loss (P & L) Statement are needed to apply.
$350,000, $400,000, $450,000 and $500,000 Business loan.   Application, last 4 Months business checking account statements, Year to date Profit and Loss and Balance Sheet are required.

Over $500,000 business loan

$500,000, $750,000, and $1,000,000 and more business loan.   Application, last 6 months complete business checking account statements are needed.   The last 2 Years business Tax Returns may be requested.
$1,000,000, $2,000,000, $3,000,000, $4,000,000 and $5,000,000 business loans.   Application, last 12 months business checking account statements and last 3 years business Tax returns are required.

Large Business Loan
Big business loans

Getting a big business loan

Businesses that have been denied by a lender because the amount of the request was too high will still try to get a business loan another way.   Ask lenders upfront if they have a maximum loan amount and if they have different criteria for different dollar amounts.  If so, what are they?

Because the lender has different lending criteria for higher business loan requests, they may not provide you with the information.   Ask these questions to help get a larger business loan and also avoid unnecessary declines.

In addition, get helpful tips in the application process and also review small business administration resources at SBA.gov.

Thank you for visiting our large business loans resource page.

Credit Score below minimum

Credit score below minimum – MCA Merchant Cash Advance Declined

What does not credit score below minimum mean?
Businesses have used MCA Merchant Cash Advances and ACH loans in recent years to finance their businesses.    One of the reasons Companies are declined is for for credit scores below minimum.  Their credit score is below the minimum required by the lender to approve a business loan.

How can your business overcome being declined for a Merchant Cash Advance or ACH bank loan for the credit score being below minimum?   There are several ways that your business can still get financing.
ONLINE APP.  Add Email and name to access App.  Attach the last 3 months bank statements, or send App only.
Or tap TEXT US, and Text contact info.
To Call tap Tel # link, CALL US, Press Dial.

Our Small Business Development Center assists businesses in overcoming issues instantly so they can focus on advancing their business.

FAQ’s:

What is a decline for credit score below minimum and credit score too low ?
The business owner’s credit score is below the minimum required by the lender.

Most frequent Requests:
– I was declined for a merchant cash advance for “credit score below minimum”.  The lender said my credit score was too low.    Can you still help me get an MCA merchant cash advance or ACH Bank loan?
– We were declined for an ACH loan.   Can you help our business with this?
Yes, we can assist businesses with these scenarios.

How to get a business loan with a credit score below minimum or credit score too low

Talk to lenders before applying and find out if they have a minimum credit score requirement.   If they do ask them what their minimum credit score requirement is.  If your credit score is too low, consider other alternatives.   Is there more than one owner in your business?    If the other owner has a high enough score, have them apply instead or have them apply first.    Contact other lenders until you find a lender whose requirement for credit score is not too high.

If your credit score is on the rise, consider waiting to apply.    Also, find out if you can qualify for a lower amount.  We have programs and tips to put your business in and get approved.   Contact us to discuss.

Solutions for businesses declined for a credit score below the minimum and too low for a merchant cash advance, business loan or ACH Bank loan.

Talk to the lenders directly about being declined for a credit score below the minimum.   Ask them if you can be approved for a lower amount and if there is another program that may work.

Get a copy of your credit report.   The credit bureau will list the top 4 reasons for lowering the credit bureau score.   Look at those reasons.   Are there any that are wrong?   Once you find the ones that are incorrect, call the credit bureau and dispute the reporting.   If your score goes up within 30 to 60 days, you can call the Lender back and have your Application considered again.

Recent Approvals with credit scores too low, or credit scores below minimum

September 30th 2016 – for immediate release.  Superior Staffing obtains business loan after being declined for the owner’s credit score below minimum.   The company applied with a large national lender for $50,000 and was declined. The Owner’s credit score was in the low 500’s.   They contacted us for information and assistance.   We gave them tips and directed them to other lenders that might be able to help them get the funding.

The company had two owners with 50% ownership.  The 2nd owner had a credit score 50 points higher than the other owner.   President James Stephens released a statement.  “We were denied for credit for the $250,000 working capital expansion loan we really needed.   Other Lenders were contacted that could work with lower credit scores.   Another application was submitted with the Partner with the higher credit score listed first.   We were approved for all the Capital we needed.  We look forward to using Smallbusinessloansdepot.com in the future as a reference for our financing needs.”

Credit Score Below Minimum
Credit Score too low

Get working capital through other loans

If the options above do not work or you cannot wait, your business can consider other types of business loans.   Which ones are best depend mostly on your company’s profile.    Choices include:
– Monthly Term loans up to 48 months that require the last 2 Years Tax Returns
– Accounts Receivables Financing
– Business loans based based on Real Estate or Equipment Assets

Finally, with one of the above options, your business may overcome being declined for a MCA Merchant Cash Advance or ACH business loan for having a personal credit score that is too low or below the minimum required by the lender.    The SBA small business administration also has excellent resources on alternative business loans.

Too Many Overdrafts and NSF’s

Too many Overdrafts and NSF’s

One of the reasons companies are declined for business loans is for too many overdrafts and NSF’s.  They have excessive Overdrafts and NSF’s per month that exceed lender guidelines.   What is non sufficient funds?  What is an overdraft?  A overdraft or non sufficient funds is a deficit in a bank account caused by drawing more money than the account holds. Businesses use MCA Merchant Cash Advances and ACH Bank loans to finance their businesses.
How can your business overcome being declined for a business loan or Merchant Cash Advance or ACH bank loan for having excessive Overdrafts or excessive NSF’s?   Here are several tips that your business can follow to get a business loan.

ONLINE APP.  List Email and name to access App.  Attach the last 3 months bank statements, or send App only.
To Call tap Tel # link>, CALL US, then Press Dial.
Or tap TEXT US, and Text contact info.

Our Small Business Development Center assists businesses in overcoming these obstacles so they can focus on making their business prosper.

Too Many Overdrafts and NSF’s

FAQ’s:

What are too many Overdrafts and NSF’s?
More than 5 Overdrafts and 5 NSF’s per month.

Frequent Requests by callers and applicants:
– I was declined for a merchant cash advance for having too many Overdrafts and too many NSF’s.   Help me get a merchant cash advance.
– I was declined for a business loan for excessive Overdrafts and NSF’s.   What can our business do to get a loan?

Too many overdrafts and NSF's
Businesses that have been declined for having too many overdrafts and NSF days.

How to get approved with excessive Overdrafts or NSF’s

Talk to lenders in advance and find out if the lender has a maximum number of Overdrafts or NSF’s per month they accept.  We can put your business into qualifying programs so your business can get all the Capital it needs.

Other options if declined for too many Overdrafts or NSF’s for an MCA merchant cash advance or ACH bank loan

Talk to the Merchant Cash Advance companies and ACH business loan lenders directly about being declined for having too many Overdrafts or NSF’s per month.   Ask them if there are other programs available you may qualify for right now.   Always ask if you can start out for a lower amount.

In addition, make sure your business does  not have any more Overdrafts or NSF’s  for a few weeks and apply at the start of the next statement month.

Possible solution:

If you know you will not have any more Overdrafts or NSF’s the next few weeks in your business checking account,  tell the Merchant Cash Advance company or ACH business loan company.    If the overdrafts or NSF’s were from a single event instead of spread out throughout the months, this can make a difference.   It is an isolated incident.   You can let the lender know they resulted from a one time event.   Many decisions are automated and made quickly.   Make a strong case and the lender may reconsider your request.

If the lender will still not approve it, ask how long you have to wait before your can be reconsidered.   Ask what needs to be corrected to avoid being declined again.

Get other working capital loans

Your business can apply for other types of business loans if time is critical.   Which ones are best depend on your company’s financing needs and situation.    Choices include:

– Business loans based on Real Estate or Equipment Assets
– Account Receivables Financing
– Monthly Term loans up to 60 months or longer with full financials.

Your business can overcome being declined for a MCA Merchant Cash Advance or ACH business loan for having too many Overdrafts and NSF’s.     The SBA small business administration offers advice and workshops on business loans.

Not enough Deposits – MCA Merchant Cash Advance Declined

Not enough deposits – MCA Merchant Cash Advance Declined

What does not enough deposits mean?
Businesses have used MCA Merchant Cash Advances and ACH loans to a great extent in recent years to finance their businesses.    One of the reasons Companies are declined is for not enough deposits or too few deposits per month.  They are not making enough deposits into their business checking account per month.
How can your business overcome being declined for a Merchant Cash Advance or ACH bank loan for having too few deposits?   There are several tips that your business can follow to get financing, either right away or in the short term.

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Our Small Business Development Center assists businesses in overcoming these obstacles so they can focus on making their business prosper.

FAQ’s:
What are too few deposits ?
This is usually less than 4 Deposits per month.

Most frequent Requests:
– I was declined for a merchant cash advance for having too few deposits, or not enough deposits.   Help me get a merchant cash advance.
– We were declined for an ACH loan for not having enough deposits.  What resources are available to help our business overcome this?

Not enough deposits per Month
Has your business been declined for not having enough deposits per month?

How to get approved with little or too few deposits per month

Talk to lenders in advance and find out if the lender has a minimum number of deposits per month needed to be approved for financing.  We can direct your business to these programs so that you can apply for the right program and can get approved.

Other options if declined for not enough deposits per month for a merchant cash advance

Make more deposits immediately during the rest of the month and apply at the start of the next month.   A deposit to a business checking account statement is often from several customers.   Retailers usually have several checks and cash from several customers, go to the bank and make 1 deposit.    Instead of 1 large deposit, break the deposit into several smaller deposits over the course of 2 or 3 days.

Talk to the Merchant Cash Advance companies and ACH business loan lenders directly about being declined for not having enough deposits per month.   Ask them if there is anything that can be done.

Possible solution:

If you know the deposits you make into your business checking account have multiple items, you can tell the Merchant Cash Advance company or ACH business loan company.
What are multiple items?
Multiple items means that the funds in the deposit are from more than 1 customer.    If the merchant cash advance company knows this, you can get a copy of the deposit from the bank.   The copy of the deposit will show the items deposited. If it is 5 items, you may get credit for 5 deposits instead of 1.     You may be able to get the MCA company to change the decline to an approval.   A number of ACH lenders and merchant cash advance companies are open to this.

If this does not work, ask how long you have to wait before they will consider you again.  Be clear on what they want to see the next time so you will not be declined again.

Get working capital through other loans

If the options above do not work or you cannot wait, your business can consider other types of business loans.   Which ones are best depend mostly on your company’s profile.    Choices include:
– Monthly Term loans up to 48 months based on Tax Returns
– Accounts Receivables Financing
– Business loans based based on Real Estate or Equipment Assets

With one of the above options, your business may overcome being declined for a MCA Merchant Cash Advance or ACH business loan for not having enough deposits and get the needed funds.     The SBA small business administration also has excellent resources on alternative business loans