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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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Declined for time Time in business

Declined for Time in business

Has your business been declined for Time in Business?  If so, you want to find alternative business loan solutions.

We have business loan options for businesses that have been in business as little
as 3 months.    Contact us today by using the contact information below.

Many loan programs require businesses to be in business for at least 1 year before financing will even be considered.   Some programs require 2 years time in business at a minimum.   Traditional Banks require between 2 or 3 years time in business in addition
to Tax Returns and Financial statements.   We only require 3 months.  Start below.   
Complete the Secure > ONLINE DOCUSIGN APPLICATION .
Attach the last 3 months bank statements.  Or call us at Tel:  919-771-4177, or Send E-mail

3 Month Time in business programs

With our 3 Month time in business program your business can get money in as little as two days. Provide the most recent (3) months business checking account statements and a one page application and you can be on your way to funding within 2 business days.

1 Year time in business Program.

To get more funding, another funding program options is our 1 year time in business program.

Declined for Time in Business
How time in Business affects your Business Loan request

Frequently asked Questions, FAQ’s, comments and requests:

– I was declined for Time in Business being too short. I need help.
We can help put you into a program that turns a decline into an approval and also fund your business within 2 days.

– How can I find out how long I have been in business?   What do you look at for time in business?
The time in business is how long your business has been listed with the Secretary of State in your State.  As a result, check your Secretary of State business listing in order to find  your time in business.

– I have been in business longer than the lender says.   How can I prove my time in business?
Prove your time in business through one of several ways.   Your Articles of Incorporation as well as your business license prove time in business.   Another accepted proof of time in business is also business bank statements.

– What is TIB?
TIB stands for time in business.

Thank you for visiting our Time in Business resource page.   Questions and answers will be added as customers call in.

What is a COJ Certificate of Judgement?

What is a COJ Certificate of judgement?

April 23, 2017, 04/23/2017 – A COJ Certificate of Judgement is a legal document Lenders can use to take quick and easy legal action against their customer.

When the Merchant Cash Advance company declares a default, a completed COJ Certificate of Judgement allows MCA companies to easily take legal action against a merchant.  This usually happens without traditional court proceedings or a trial.  The Merchant has already providing a notarized signature authorizing the Merchant Cash Advance company to get a default judgement or summary default judgement against them.

What are your options ?
Get a MCA Merchant Cash Advance or business loan without a COJ Certificate of Judgment. We have business loan programs that DO NOT require a COJ, including Merchant Cash Advance programs.    Apply now, below to get this type of financing.
Complete the Secure > ONLINE DOCUSIGN APPLICATION .
Attach the last 3 months bank statements.  Or call us at Tel:  919-771-4177, or Send E-mail

What is a COJ Certificate of Judgement?
What is a COJ Certificate of Judgement?

FAQ, Frequently asked Questions, comments and different ways to stop, get out of, and deal with the COJ Certificate of Judgement process

How can I stop or get help to get me get out of a COJ Certificate of Judgement proceeding?

If you feel a Lender is about to take action against you, you can contact the Lender to try to come to a last minute agreement on a repayment plan or settlement.
This shows the lender that you are still trying to work with them and reduce their losses.   The lender may still decide to negotiate with you and agree to a workout solution.

Should I close a loan if the lender is asking for a COJ Certificate of Judgement?
First decide what is the likelihood of your defaulting.    If you feel there may be too much of a chance of your having cash flow problems, try to obtain a business loan that does not require this.   Apply with us above.

Should I worry that the lender will take action against me when they have a Certificate of Judgement?
It depends on the Company you are dealing with and your cash flow situation.  Most Funders or Lenders normally do not follow through and take court action with the COJ Certificate of Judgement unless the customer intentionally and actively does one or more of the following:
1) Does not communicate with the Funder or Lender, such as avoiding calls and not reply to correspondences.
2) The merchant makes no effort to make payment arrangements, settlements, or
come to some agreement with the Lender.
3) The Merchant stops payment on their daily advance causing the daily Merchant Cash
Advance payment to not be paid and rejected.
4) The Merchant closes their business checking account and the daily Merchant Cash
advance payment bounces and is rejected.
– The Merchant disappears or vanishes.

More FAQ’s Frequently asked COJ Certificate of Judgement Questions:

What can a lender do to me with a Certificate of judgement?
The lender can get a court that day to automatically request and receive a default judgement.   Once they receive this, they can contact your Banks and have available funds debited to pay your debt with them.
Read the Certificate closely.   Clearly understand under what circumstances the COJ Certificate of Judgement allows the Lender to take Court action against your business.

How can I get a MCA Merchant Cash Advance or business loan without a COJ Certificate of Judgement?
Contact us above today.    We offer many business loans that do not require this.

How can I protect myself against a COJ?
Get a business loan or merchant cash advance that does not require a COJ Certificate of Judgement.   In addition, you can ask a Lender if it is required when you first apply.

If your business is behind on a Merchant cash advance, try to work with the lenders as much as possible on a workout solution.   When you work with the lenders as much as possible, their tendency is much more to not exercise a COJ Certificate of Judgement.

Third party options involving a COJ Certificate of Judgement

We are of the opinion your business should not hire or contract with a Debt Settlement relief Company.   Lenders do not like these arrangements.   Their contract is with your business, not a 3rd party.

Can I get an attorney to take Court action to get me out of a COJ Certificate of Judgement?
This will be difficult.   If your business has defaulted and the Funder has declared a default, there may be little that can be done quickly.    You can seek counsel quickly to determine your options and if legal intervention on your part is still possible and makes sense.   There may be Bankruptcy relief options as a last resort although workout solutions are usually a better and less drastic action.

I am not signing a COJ Certificate of Judgement.
You do not have to sign it.   You can look for a lending program that does not require this.
We offer multiple programs without a COJ.

How do I know the Lender won’t take action against me anytime once they have a COJ Certificate of Judgement?
If you have not defaulted, then action on the Lender’s part should not be expected.

Click below to find out about Alternative Loans to a Merchant Cash Advance.

Thank you for visiting or information resource!

10 Most common Reasons businesses want a business loan

April 23, 2017, 04/23/2017.  For immediate Release – Businesses want money for many reasons.   This post will look at the 10 most common reasons businesses want a business loan and some of the best programs for them.  If your business needs a loan for any reason, complete the application information below. 
Complete the Secure > ONLINE DOCUSIGN APPLICATION .
Attach the last 3 months bank statements.  Or call us at Tel:  919-771-4177, or Send E-mail

10 Most common reasons businesses want a business loan

1) My business is running out of money.

Very often, businesses do not need money for a specific reason.   They just are running out of cash.   Seasonal businesses often have this problem.  Sometimes revenues do not meet business expectations while expenses remained fixed.   The business may have run into problems and needs money to correct or resolve the problem.

2) I need a business loan for expansion.

One of the top reasons businesses need a business loan is for expansion.   There are many reasons for expansion.  In most cases, a successful business wants to take advantage of business opportunities but needs more money to do it.

3) I need a business loan for Inventory and raw materials.

Businesses call in and make the request, “I need a business loan for inventory”,

as well as, “I need a business loan for supplies”.

4) I need a business loan to hire Employees.

Another reason businesses often need capital is for the initial expense of hiring employees.  This often includes the cost of expanding the workspace, buying furniture and also the cost of recruiting, interviewing and adding employees to the employee rolls.

5) I need a business loan for taxes.

Customers frequently make the request, “I need a loan to pay business taxes”.
Many businesses need a loan to pay taxes.  This is often
for current taxes, previous taxes as well as IRS payment agreements.
Next 5 most common reasons businesses want a business loan

6)  I need money for Equipment, Equipment Repairs or Vehicles.

Businesses often call in with the request, “I need a business loan for
equipment”, as well as “I need a business loan for equipment repairs”.   This would
be considered a loan against equipment.

7) I need a business loan for Marketing and Advertising.

Companies frequently need a business loan for Adverting and Marketing.  Advertising is more critical for certain industries than others.   Industries that need advertising, such as media companies, retail and online businesses have to spend significant funds on
advertising.

10 Most common reasons businesses want a business loan
The most common reasons businesses want a business loan.

8) I need a business loan to buyout my Partner.

Businesses will often request a business loan to buy out another partner.   Multiple owners are no longer able to get along well enough to continue running the business together.   Callers will call in saying:  “I need a business loan to buyout a partner owner.”

9) I need a business loan to buy my Building and Real Estate.

When businesses become larger, they not not want to keep leasing space.    Landlords may also suddenly raise the rent.    Callers most frequent requests are: “I need a business loan to buy a building and property”, or “I need a business loan to buy my building.”  For this
purpose, callers say they need an asset based loan.

10) I need a business loan for insurance.

Businesses may need to pay for several types of business insurance.
Liability insurance, employee insurance and property insurance are some of the types of insurance businesses must by.    Callers will also call in and say: “I need a loan for business insurance”, as well as “I need a loan for business health insurance.”

Thank you for visiting our list of the 10 most common reasons businesses want a business loan.

10 Uncommon reasons for needing a business loan

Business loan requests are sometimes for unusual reasons.   We will review 10 uncommon reasons for needing a business loan.    If your business needs funding for any uncommon reason, contact us.  Complete the Online Application.  Contact us at the number below.
Complete the Secure > ONLINE DOCUSIGN APPLICATION .
Attach the last 3 months bank statements.  Or call us at Tel:  919-771-4177, or Send E-mail

10 Uncommon reasons for needing a business loan:

Natural Disasters, floods, fires

Losses due to natural disasters are probably the most expensive for businesses. Businesses need money after being hit by a natural disaster.  This can be Tornadoes, hurricanes, floods, fires, drought, wildfire, hail, blizzards, oil spills and extreme winters. Businesses may need working capital to cover the cash shortfall because of disasters like these.   FEMA helps many business owners, yet is either too slow for some businesses or cannot help at all.

My business is being sued.

If a business is being sued, it may need money to hire an Attorney and go through the litigation process.   Expenses can be $10,000 and as much as hundreds of thousands of dollars.  There are different types of lawsuits that a business may be sued for that they need funds to defend.

Other types of lawsuits businesses face:

A) Being sued for Malpractice.

Businesses in the Healthcare field are usually the primary targets of malpractice lawsuits they need money for.   Other industries sued for Malpractice include Accountants, Consultants, Construction Companies, Retail Businesses and businesses that need a professional license.   A business may need a loan or money to pay for Malpractice or a Malpractice lawsuit.

B) Business being sued for not fulfilling contract

Businesses are sometimes sued if their contract is not completed correctly. This happens in the Construction industry, and many other industries also.   Many companies need money or a business loan to fulfill a Contract.

C) Business being sued for Copyright infringement

Businesses can be sued for many types of alleged copyright violations.  Copyright lawsuits happen often in the music and entertainment industry.   Trademark disputes,  intellectual property lawsuits and others are the basis of suits.   Businesses need money or a business loan for Copyright infringement lawsuits.

Need money to relocate business

Business relocation requires significant funding.   The bigger the business,  the more relocation will cost.   Relocating is a big expense for any business.   Many businesses need money or a business loan to relocate.

Partner Buyouts or Owner Buyouts.

Businesses often have more than one owner.   Sometimes multiple owners do not get along and one or more Partners want to leave.   Because of this, a buyout of the Partner or buyout of an owner may be needed.   A business owner may need money or a business loan to buyout another partner as a result.

We need a business loan to meet new City, State or Federal regulations.

City, State and Federal Regulations change over time.  Businesses sometimes have considerable cost to comply with regulations.  A company may need a business loan to meet new regulations.

10 Uncommon reasons for needing a business loan
Uncommon reasons for needing a business loan

 

 

 

 

 

 

The last 5 of 10 uncommon reasons for needing a business loan below:

Need a business loan for training and licensing requirements.

Business may have to provide training to all of their employees or meet new licensing requirements.    A business loan will probably also be needed for updated licensing and training.   City and State offices also have information on licensing and training requirements.

Theft

Theft causes sudden losses.  Companies need a business loan to recover from customer theft, employee theft,  shrinkage, and also loss of inventory.    A business loan and also a line of credit covers businesses from lost cash flow.

Major Accounting Errors

Businesses have cash flow problems because of mistakes made by Accountants as well as Bookkeepers.
Math errors are probably less frequent mistakes.  Accountants also incorrectly take deductions and file the wrong type of Return.   They may not tell the business owner to increase their estimated quarterly payments either.   These errors cause a higher tax liability.   The business then needs to get a business loan to pay more taxes because of Accounting Errors.  Your Accountant can provide Quarterly reviews to avoid cash flow hardships.

City Infrastructure Repairs.

Cities, Counties and States do extensive street and road repairs.  This also includes Sewer work, pipes and cement work.   States make Bridge and Highway repairs that also affect traffic exits and main roads.  Retail stores are also affected by these County or State Road repairs.  Retail stores located on a main road with major construction work are also devastated.  Businesses therefore need a business loan to also makeup for a loss of Sales and lower cash flow.

Need a business loan to hire overseas technical workers.

Industries cannot find all of the workers they need domestically, so as a result, they must also hire workers from other countries.  Technical fields are another industry that also has difficulty hiring skilled workers.  Hiring workers from overseas is a big expense.  Therefore, companies may need a business loan to pay for the cost of hiring overseas workers.

Thank you for visiting this resource.  Visit 10 uncommon reasons for needing a business loan in the future for especially relevant information on unique loan requests.   Contact us for your business loan needs.

The best Merchant Cash Advance Consolidation Programs

The best Merchant Cash Advance Consolidation Programs

April 23, 2017.  Many businesses have short term daily or weekly repayment advances, known as Merchant Cash Advances.   The repayment on these advances are short term, usually between 2 and 18 months.   Some businesses have several advances with daily debits at the same time.  This is causing significant cash flow problems for many businesses.  The following is an overview of how the best Merchant Cash Advance Consolidation Programs work.  There are also cash relief options as well as some less desirable options.

Consolidation programs are being offered by some alternative funders to improve or rescue businesses from cash flow emergencies.  Getting this help is sometimes the difference between the life and death of some businesses.
Complete the Secure > ONLINE DOCUSIGN APPLICATION .
Attach the last 3 months bank statements.  Or call us at Tel:  919-771-4177, or Send E-mail

Beware:  Some Merchant Cash Advance Companies are advertising Merchant Cash Advance Consolidations when they really end up only offering you another advance.

If you need a real Merchant Cash Advance Consolidation & not another advance, discuss this with the lender upfront.     Some companies use this lure to simply offer another advance.    It depends on the company.   Some Companies will try to consolidate, but you may not qualify.    If your business has 3 advance, your business may not qualify for a consolidation of all 3, but may qualify for a Consolidation of 2 of the 3 Advances.   The Advance with the best terms can be left in place the the other 2 advances may be Consolidated.   They are paid off, the term is extended and the Merchant’s daily payment is lowered.

However, beware of companies that advertise a Consolidation which could be a bait and switch to giving you another advance.    Try to determine if they are really trying to Consolidate, or making no effort to Consolidate and just want to sell another advance.

There generally are 4 basic types and approaches of  MCA Merchant Cash Advance Consolidations.   This includes cash flow relief and debt settlement company options.

Merchant Cash Advance Consolidation Type 1:

This approach is a true effort to reduce the daily payments business merchants have to make.   The Consolidation or “relief”  lender covers the payment of the Merchant’s existing advances by depositing the weekly total of their daily payments into the Merchant’s business checking account once per week.   The consolidation lender then debits a lesser daily amount than the daily total of the Merchant’s other advances.   This reduced daily repayment for the Consolidation is normally between 20% and 50% lower than what the Merchant is currently paying.

The repayment of the lower amount usually continues for a few months longer than the remaining time the merchant is scheduled to pay the existing advances.   The Consolidation lender reduces the daily payments for the Merchant by extending the term of the debt.   This arrangement gives businesses cash flow relief.  For this type of financing, complete the contact information below.

The following is an Example of how this 1st type of Consolidation works:

Acme, Inc. has 3 daily repayment Merchant Cash advances.   Each has a balance of $25,000 and will continue for 20 more weeks.    The daily payment on each is $250 for a total daily payment of $750.    This equals $3,750 per week and $15,000 per Month on average.
For this type of cash flow relief type Consolidation, the payments are usually reduced in the 25% to 50% range.   Let’s assume a 50% reduction is offered.   The lender will be referred to as the Consolidation lender.

The Consolidation lender deposits $3,750 once per week into the Merchant’s account. The Merchant then begins repaying the Consolidation lender $375 per day instead of $750.  This saves the Merchant $375 per day, $1,875 per week and $7,500 per Month.   The Merchant continues paying 40 more weeks.

The benefit to the Merchant is that they have improved their monthly cash flow by $7,500 per Month.

The best Merchant Cash Advance Consolidation Programs
The best Merchant Cash Advance Consolidation Programs.

Merchant Cash Advance Consolidation Type 2:

The second type of Merchant Cash Advance Consolidation is less common.  It is a true Consolidation.  The business Merchant provides the Consolidator the total payoff balances of all of their existing advances.   The Consolidator verifies the payoff and then pays off the existing advances.  The Merchant then begins to repay only the remaining one Consolidation debt.  The Merchant also pays the Consolidation lender for a longer period of time.   This allows the Consolidation payment to be lower than what the Merchant had before.

The following is an Example of how this Type 2 approach works:

Acme, Inc. has 3 daily repayment Merchant Cash advances.   Each has a balance of $25,000 and will continue for 20 more weeks.    The daily payment on each is $250 for a total daily payment of $750.    This equals $3,750 per week and $15,000 per Month.
In this type of cash flow relief Consolidation, the Consolidation lender pays off each Merchant Cash Advance for a total of $75,000.   The Merchant then begins paying the Consolidation company.  The amount and terms of the repayment are lower,  as in the 1st Example of $375 per day.   The term is now 20 weeks instead of 40.

Merchant Cash Advance Debt Restructuring Type 3:

In this case, a Merchant has several merchant cash advances and is having trouble repaying them. The Merchant either cannot qualify for the weekly cash flow reduction and Consolidation program, or wants a different option.

The Merchant still must have cash flow relief.    In this method,  the Merchant contacts their existing MCA Merchant Cash Advance lenders directly.  The Merchant tells the Merchant Advance companies that they soon will not be able to continue paying the daily payments. They need a pause or reduction in the daily payment, or both.  Some Merchant Advance companies are more receptive to this request than others.   Each request will be considered on a case by case basis and the final decision will be at the discretion of the lender.

It is important for the Merchant to make a strong case for a reduction or pause in payments.   They cannot be too demanding but they must give strong reasons.  The Merchant Cash Advance lender must know the Merchant truly has short term cash flow issues it won’t survive.   By addressing the problem now, the Merchant and Merchant Advance company both win.  The Merchant can be put in a position to repay the remaining advance,  and the Merchant Advance company will can be repaid.  If an agreement cannot be reached, the Merchant will miss payments or default.

Merchant Cash Advance Debt Restructuring or Consolidation, Type 4:

Debt Restructuring companies or options can be considered the last and most dangerous for Merchants.  This should only be considered if the Merchant cannot get a Consolidation program and is not able to renegotiate better sustainable repayment terms with their existing advance companies.

In most cases the Advance companies will work with the Merchant as much as possible to reach a workable solution.    If that does not happen, the Merchant may be forced to consider remaining alternatives.

There are a few final options:

Type 4A:

The Merchant has talked with their Merchant advance companies and could not come to an agreement to reduce or pause payments enough.   They determine they cannot continue to make the payments much longer.   The Merchant can hire a business Attorney to negotiate a settlement or reduced payments with the Advance companies on their behalf.

Type 4B:

The Merchant contracts with a 3rd party Debt Settlement company.  This option may be the least desirable of all the options because debt settlement companies may take actions that are not in the Merchant’s or Merchant Cash Advance company’s interest.

A Debt Settlement relief company often tells the Merchant they will get the daily payments to stop and tells the Merchant to sign a contract for them to negotiate with the Merchant Advance Companies.   The Merchant is often told to begin paying the 3rd party debt settlement relief company instead.   They may tell also tell them to close the business checking account from which the daily payments are being debited and open a new account at another bank to pay them.   This is almost always a major mistake and may cause both the Merchant and Merchant Advance companies the worst problems.

Debt Settlement Relief Company Pitfalls

These scenarios may cause several major problems for the Merchant.   The Merchant cash advance contracts are always between the Merchant and the advance companies, not the Debt Settlement companies.   The MCA companies are under no obligation to talk to or agree to anything the debt settlement companies are asking for.   Knowing this, some debt settlement companies call the Merchant Cash Advance companies, tell them their customer cannot repay and the Merchant Cash Advance company better accept a very low settlement amount rather than get nothing.   The Merchant may have begun making payments to the debt settlement company and may still not be much better off than they were before, if at all.

What is a Certificate of Judgement?

The Merchant cash advance company may have a COJ, certificate of judgement.   If the Merchant closes their business checking account from which the daily payment is debited, it often considered an immediate default per the contract.   The Advance company may be able to get a Court judgement within  1 to 2 days.

This judgement is used to debit funds from any account the Merchant has with any bank.
The Debt Settlement company should be concerned with this.   They may only be concerned about the contract they have with the Merchant to pay them now.   The debt settlement company may provide little or no assistance to the Merchant to deal with these consequences.   Payments are made to the debt settlement company in the short term leading up to the Merchant being hit with severe actions by their existing Merchant Advance companies.

With some of this information, consumers whose businesses have Merchant Cash Advances may be able to better determine the best Merchant Cash Advance Consolidation programs or cash relief programs they should choose. Merchants should do further investigation on their own.   Each situation and contract may be different and call for different decisions and actions.

 

Alternatives to Merchant Cash Advance

Alternatives to Merchant Cash Advance

April 23, 2017, 04/23/2017.  For immediate release.  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.
Complete the Secure > ONLINE DOCUSIGN APPLICATION .
Attach the last 3 months bank statements.  Or call us at Tel:  919-771-4177, or Send E-mail

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, asset based business loans or a loan against equipment.
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?

April 8, 2017 – 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!
Complete the Secure > ONLINE DOCUSIGN APPLICATION .
Attach the last 3 months bank statements.  Or call us at Tel:  919-771-4177, or Send E-mail

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

April 27, 2017.  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.
Complete the Secure > ONLINE DOCUSIGN APPLICATION .
Attach the last 3 months bank statements.  Or call us at Tel:  919-771-4177, or Send E-mail

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

April 27, 2017.  For immediate release – 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.

Complete the Secure > ONLINE DOCUSIGN APPLICATION .
Attach the last 3 months bank statements.  Or call us at Tel:  919-771-4177, or Send E-mail

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

April 23, 2017.   Bank statement business loans for your business.
– No minimum credit score options for many programs.
– No Collateral needed.

Complete the Secure > ONLINE DOCUSIGN APPLICATION .
Attach the last 3 months bank statements.  Or call us at Tel:  919-771-4177, or Send E-mail

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
– No prepayment penalty for some programs.
– Tax Liens < $100,000 may 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.