Bank Statement Business Loans
October 13, 2017. Bank statement business loans for your business.
– No minimum credit score options for many programs.
– No Collateral needed.
Complete the Secure DocuSign Application.
Or Call us at Tel: 1-919-771-4177, 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 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.