How to get a small business loan during Coronavirus (Covid-19)

Programs are available to fund your business during Coronavirus-19. Many programs and options are available to get funding now. Choose from programs that are not restricted by industry type.

With business sales down during Coronavirus, many businesses are getting declined for a small business loan.

Need a fast business loan now?  Apply below

Small Business Loan during Coronavirus Now – Secure Docusign
Or Call us at Tel:  1-919-771-4177

Which business lenders are open and funding? Check out the:
Top Top 6 Fastest Business Loans available during Covid-19 Coronavirus during Covid-19 Coronavirus. Lenders are restricting industries they lend to and businesses are now being declined  because sales have dropped.  There are more exceptions for certain essential or critical business industries.

Understand which lenders to go to and why.   Consider how they look at your business and choose the right alternative business loans including bank statement loans, asset based loans, loans against equipment, vehicles or real estate.

Estimated Cost: $0
Total Time: 1 Day
Supplies Needed:  search information, time available.
Tools needed: Internet connection, phone, computer

How to get a business loan during Coronavirus Covid-19. How to steps, direction and tips.

Step 1.  Preparation:

Pick lenders that are still lending to your industry and the current situation your business is in.

Tip: Be flexible and open minded to all funding options. The funding option you prefer may not be available or restricted. Credit has tightened a lot for business loans and qualifying is considerably harder even if the program is available.

Decide on the main strengths of your business right now. Don’t apply with a program that considers where your business is weak right now.

Step 2.  Have your information ready to go:

Tip:  Consider all alternative programs that may be a better match for your business now.
Look at an asset based loan.

Business loans now during Coronavirus covid-19

Step 3. Contact lenders that clearly say they are making small business loans during the Coronavirus Covid-19

Review the programs available and continue to match the strengths combined with the needs of your business in deciding which program you should apply for or not.

Tip: Try to pre-qualify over the phone by calling.   With a representative, match the programs available with your company’s profile. List as much business income, collateral, and documentation of both you can to strengthen your request.

Documentation or proof may include bank statements, tax returns, copy of titles of equipment or vehicles.    List the stronger credit owner first because you will increase your chances for approval and also get higher offers.  For equipment purchases tell the lender how much down you have.

Call or complete an app to those lenders that are open and funding business loans during Coronavirus Covid-19

Step 4. Complete application for funding.

If you are approved, review terms and conditions including down payment requirements, fees and time to close.   If you are not approved contact the lender to discuss available options.

Submit the app to get small business loan options for your business during the coronavirus covid-19 pandemic.

Step 5.  When you are approved, request documents.

Review terms and conditions including any down payment requirements, fees and time to close.  If you are not approved contact the lender to discuss available options.

When you are ready to close, complete all closing items required and receive funding

Your decision on which business loan to close during Coronavirus Covid-19 should be heavily weighted in the short term on how likely your business can re-borrow under that program.



Small Business Loan during Coronavirus Now – Secure Docusign

FAQ How to get a small business loan during the continuing Coronavirus (Covid-19)

Can I get a small business loan while covid-19 continues?

We have several special alternative programs that are for virus and lower sales funding and match your business to the best program available.

Do we have any loan options during the virus with bad credit and lower deposits?

There are still cash flow and asset based business loan options available.   These include revenue based programs, business loans against trucks, trailers, construction equipment and real estate.

What emergency funding can we get after our PPP money runs out?

Cash flow and collateral based options are being approved.  If your business has most of it’s cash flow, then there are still options. Match your business strengths to programs that are open, approving and funding. Our programs specialize in taking customer’s profile and matching it to the most viable program.

Top 6 Fastest Business Loans available during Covid-19 Coronavirus

1 Cash flow loans or bank statement loans for Essential industries
2 Loans against vehicles or business vehicles
3 Paycheck protection program – PPP CARE
4 Business loans on Equipment
5 Advances on accounts receivables
6 Loans on Commercial Real Estate