It's late and you can't reach a real person for a business loan? Call Us. Talk to real people
It late evening or on the weekend and you need a business loan. What should you do? Call us at Tel: 919-771-4177. Speak to a real person and start your funding today
Video Transcript: In minutes and seconds. 0:00 Introduction 0:10 How to reach a person 0:13 Credit 0:22 Loan Options 0:27 How to apply
Stop calling companies that give you
[ woman growling ] Thank you for calling, leave a message [ echo ]
What should you do when you need a business loan, But it’s late in the Evening, or on the Weekend ?
[ wind blowing ] Apply now or Call us to get a Representative and your funding started.
[ water bubbling ]Low Credit Scores OK.
While other Lenders have [ desert wind blowing ] stopped their processing,
[ rocket engine roaring ] We are open and going strong.
We have several funding options for Businesses.
Line of Credit Style, Term Loans, [ restaurant sounds ] Cash Flow Based [ truck engine ] and Asset Based up to 60 Months.
[ woman giggling ] Apply at SmallBusinessLoansDepot.com [ street sounds ] Or Call 919-771-4177.
Do you own your truck outright? Then get a monthly payment for up to $25,000, now.
Any truck or trailer can qualify. Ford F series, dodge, big rigs, box or delivery trucks, diesel, super duty, platform, dump, heavy haulers, reefer, dually, semis, hot shot, and trailers.
Video Transcript: In minutes and seconds followed by video transcript. 0:00 Introduction 0:09 Qualify 0:12 Trucks and trailers accepted 0:16 Credit 0:20 How to apply
[ tires skidding ] Kyle’s Truck was in Trouble. [truck crashes] kyle’s truck broke down and he needed money to fix it, fast.
He used our truck repair loan to get the work done. You own the truck or make money hauling? [radiator hissing]
Your’e pre-qualified. F-Series, dodge, [desert wind whistling] big rig, box, any kind of truck or trailer. Really tough credit o.k. so you can get it back on the road, today.
Click the application button below and apply, or call 919-771-4177[engine knocking] [engine revving] or go to smallbusinessloansdepot.com and get it repaired today!
Need a business loan with a criminal history and cannot pass a background check? What to know and how to apply. Call us at 919-771-4177 or Apply now.
Video Transcript: In minutes and seconds followed by video transcript. 0:00 Introduction 0:02 Background problem 0:10 Qualify 0:22 Misdemeanors and Felonies accepted 0:29 Credit 0:32 How to apply
Lee had a Criminal Record in his Background from an incident 4 Years go.
Now he needed a business loan with a Felony. Lenders keep declining him, after the closing background check before funding.
But he had a Good Cash Flow Business. He Could Have Given Up…..but He Didn’t. Then he Called Us.
We Stood by him to Get his Business Money. Apply Now, to Get a Business Loan with a Criminal Record.
Including felony, DUI, Misdemeanor, Marijuana, Cannabis, Drug Convictions and More! Low Credit Scores OK.
Did your business loan request die just before getting the money?
If your small business loan got killed in final underwriting just before closing and funding, call us. We will get you past the problems and funded.
Video Transcript: In minutes and seconds followed by video transcript. 0:00 Introduction 0:05 killed in final underwriting 0:12 problems fixed 0:21 Credit 0:22 How to apply
[ swords clanking ] Did your business ever fight to get A Business Loan or MCA, And then, right before closing……….
Get Killed in final underwriting? Apply with us instead.
[ race car engines ] We’ll get your Loan past the finish line, and Funded.
[ cash rustling ] From low current month deposits, low bank balances, [ police siren ] Background problems and more, [ desert wind ] We’ll get you back up [ water splashes ] And on to Smooth Sailing and Funding.[ water bubbles ] Low Credit Scores OK.
Did your business loan request die just before getting the money?
Our Business Loan was Killed just before Closing!
If your small business loan got killed in final underwriting just before closing and funding, call us. We will get you past the problems and funded. Call us at 919-771-4177 or Apply below now.
We keep your loan from being killed just before closing and funding! No more last minute turndowns for low or negative balances, low month to date deposits, overdrafts, background problems and defaults. We stop it all for customers and brokers.
Watch: Died just before being closed, above! Apply below now or call 919-771-4177. Transcript here
Killed for low month to date deposits. Your account did not have have enough revenue since the beginning of last month.
Most applicants provide the most recent (3) months statements and not the current month.
Killed because your current balance was too low. Your balance must be 2 to 3 times the payment amount.
Negative account balance (Overdrawn). An overdrawn account is a reason for a last minute decline for most business loans.
Killed at the last minute for personal Background history. Your personal history has either a Felony, Misdemeanor, drug charges, or other convictions.
Died after the Decisionlogic bank verification. There was some problem with the account.
Previous defaults. Your business has an old default and it was discovered during the final check before completion.
New recent funding since the beginning of last month. Your company just borrowed before now trying to close out the current request.
This is in the last 30 days or during the current month.
How do WE save your Commercial Loan?
We ask you the RIGHT questions before funding.
We prepare you for closing.
Instruct you on what to fix.
Any other challenges? We will solve those too!
How do you win?
Get funding instead of a shock at the last minute.
Apply above so you can get fixes and expert guidance to help you get results immediately!
Video Transcript: In minutes and seconds followed by video transcript. 0:00 Introduction 0:05 killed in final underwriting 0:12 problems fixed 0:21 Credit 0:22 How to apply
[ swords clanking ] Did your business ever fight to get A Business Loan or MCA, And then, right before closing……….
Get Killed in final underwriting? Apply with us instead.
[ race car engines ] We’ll get your Loan past the finish line, and Funded.
[ cash rustling ] From low current month deposits, low bank balances, [ police siren ] Background problems and more, [ desert wind ] We’ll get you back up [ water splashes ] And on to Smooth Sailing and Funding.[ water bubbles ] Low Credit Scores OK.
Find out how much Money you can get TODAY.
Apply at SmallBusinessLoansDepot.com, Or Call: 919-771-4177
Conclusion
In summary, your deal died in final underwriting because no one was looking out for you.
There is much more than credit, start time and recent monthly deposits to getting an approval, and funding.
List of the Top 9 Reasons why your MCA was declined
Top 9 Reasons Your MCA was Declined:
1. Affordability
This MCA decline reason means your company cannot handle the new payment without significant problems.
If you know you can manage the payment, then prove it! Provide your current bank statement, other accounts you may have, or tax return that shows you have the cash flow.
Make sure the investor isn’t using the lowest month to make their decision. Ask them to use the average of your deposit totals for your most recent 3 months.
This almost always happens when the business has cash flow problems during the current month.
The verification failed for either low deposit volume, overdrafts and NSF’s, or not enough individual deposits. It is usually some combination of these issues.
Ask specifically what they saw in the current Month that they don’t like.
Decide if this can improve enough to qualify in the next few days. If not, apply above to get another funding option.
4. Credit Score Too Low:
Some programs require a minimum credit score of 550, 600, or even 650.
Find out what score is required. If it is too high, apply for a program that will accept your credit score before you apply.
Ask the lender what minimum sales amounts are they looking for?
Also ask how much do you need to put into your account in the next week or two to qualify. By doing so, you may be able to qualify before the current month is over and not have to wait until the next month.
6. Recent Overdrafts or NSF’s:
Overdrafts or NSF’s in your checking account in the last 3 months were excessive, and why your MCA was declined.
Add up exactly how many Overdrafts and NSF’s you had. Ask the lender what the maximum is and how long before you will qualify.
7. Not Enough Deposits Per Month:
There were not enough individual deposits. Some funders require 5 or more each month.
Make more frequent smaller credits if possible.
Find a source that will accept the number per month you are now making until you can start making more. Ask in advance what their mimimum is.
8. Time in Business Too Short:
The time in business is not long enough through the Secretary of State or on your License.
Ask the funder how long they require. If you are within 30 days of the minimum, then ask for an exception.
If they refuse, then find a program that will accept how long you have been operating.
9. Background Check Failed:
A background check revealed something they didn’t like. When you get this MCA decline reason, learn more about a Business Loan with a background problem here.
Ask the MCA company specifically what the problem was, and if that matches what you know to be true.
Shop other MCA companies that have programs that accept your background issue before applying.
Want to learn more about getting a business loan with a background problem? Read this, or watch this video.
Still Don’t Qualify? NO problem either. Apply Below Now for a different unsecured or secured alternative.
Unsecured financing has less risk. You do not need to offer collateral with a loan against your assets.
Up to 18 Month Term options for 600 and 1 Year in business and higher.
Get money against your cash flow again after payoff. Use it to get money more than once.
Programs for as low as $2,000.
Lower offers makes this a better option than regular title loans. No need to risk your vehicle or equipment for a small amount of money.
Need more general info on developing your business? Visit the SBA for resources
such as local assistance, business guides and business plans.
Conclusion: Why your MCA was Declined.
Your MCA was declined for one of these reasons listed above.
Take the actions listed and you can still get an approval offer and funding quickly!
So which Trailers Qualify to get a loan on a trailer?
Aluminum
ATV
Cargo
Custom
Dump
Enclosed and Open Car
Equipment
Gooseneck
Flat bed
Heavy Duty
Landscape Utility Trailers
LivestockTilt
Low Boy
Low Profile
Motorcycle
Refrigerated
Semi-Trailer
Tandem axel deckover and Dual Deck
Used Trailers
Utility
Racing
Vending
AND MORE!
Which Manufacturers? American Hauler, ATC, Big Tex, B Wise, Bri-Mar, CAM Superline, Car Mate, Cargo Pro, Carry On, Covered Wagon, Diamond Cargo, Homesteader, Master Tow, Premiere, Sno Pro, Sport Haven, US Cargo and more.
Bad credit and low scores down to 500 may still qualify.
So do I qualify? Do you own your Trailer outright and have a free and clear title ? Then you pre-qualify.
You don’t own it outright? Ask for our straight cash only program. Even when you still owe on your trailer! However, do you also have other equipment?
Monthly Payment Program option. Terms are 12 to 18 months.
Get money again, against the same piece, after payoff.
Up to $25,000. These offers are much higher than standard title loans. Need a higher amount but don’t have more trailers? Another option is a bank statement loan for extra funds, or add other Trucks and vehicles you have.
Video Transcript: In minutes and seconds.
0:00 Introduction
0:08 Qualify
0:14 Trailers accepted
0:16 Credit
0:25 How to apply
[tires rolling on gravel road] Where does this Trailer think it’s going? It’s going to get it’s owner Kyle money for his business.
Kyle needed a Business Loan fast and had no assets. But he had a Trailer.
So we got him a Loan on his Gooseneck. Get Funds against any Trailer. Flatbed, Gooseneck, Semi Trailer, Enclosed, Lowboy, Dump, Hydraulic, Car Carrier, and many more!
Find out how much Money you can get TODAY.
Apply at SmallBusinessLoansDepot.com, Or call 919-771-4177
FAQ’s
How does this program work? Provide proof of the asset and ownership. Get a monthly payment offer and then close.
How much can I get? Get up to 50% of the Forced Liquidation Value of the trailer.
Conclusion
The unit you own is usually all you will need to qualify for a loan on a trailer!
Good credit, revenue and time in business are NOT required to get offers. So use the title, or revenue the trailer brings in to get the funding you want.
All revenue is not equal, especially for your business. Lenders considering small business loans such as bank statement loans often look in detail at where sales came from in your business statements. They are looking to see if the revenue is from the operation of your business, or not.
What if your business has been denied because the lender did not accept a large part of your business sales?
Then Apply below for programs that count the maximum amount of your sales and deposits instead of deducting them and declining your business!
What isn’t business revenue: Types of Non Business Revenue
4 Main types of true Business Revenue that lenders accept.
1. Income from Sales to Customers and Vendors:
Revenue from the normal sales your business has is the most preferred and accepted income any business can have. Your business model is succeeding and can repay debt.
2. Income from Affiliate Partners.
Some businesses have affiliate relationships. Affiliate partners secure customers on behalf of another business. This income may come from the affiliate partners rather than those customers directly, but it is still valid receipts.
3. Money from Collections
Many businesses have delinquent accounts they collect on. Collection receipts are valid business income, even if they are from charged off accounts.
4. Money from the sale of business assets
When a business sells hard assets such as commercial real estate, business equipment or vehicles, it is considered business revenue and should be counted that way by lenders.
This includes soft assets such as proprietary software, intellectual property and patents. Any of these can have great value and be sold for significant amounts. When this happens, it is counted towards business sales and included in the annual income of the business.
Windfall from court decisions or judgements
Monies from court decisions or judgements is a grey area when it comes to lenders considering this as revenue for a business. Most will give this credit as true income from the business. Money from successful court litigation is considered monies that are truly owed to the business.
However, it is still a large one time event that will not be repeated. That makes it considerably different than money from sales which does constantly repeat, such as from a retail store.
What isn’t Business Revenue?
Transfers between business accounts or from other accounts
Transfers between accounts are not revenue for the business. The lender analyzes them to answer the following questions:
Was the transfer from another business account of the same business? If so, what has been the recent cash flow of that other account?
Savings Accounts:
Savings account transfers into a business checking account are not business income received by a business.
Personal Accounts:
Transfers from any personal account into a business accounts will not be considered business sales. Claims that they are must be documented and proven to the lender.
Business Loan Proceeds
Loan Proceeds are NOT considered business income. Money that comes from lenders cannot be added to the gross receipts of the business. It did not come from sales, so it is not business income.
Tax Refunds
Tax refunds are not part of business sales. Money back from the IRS is usually from taxes paid for previous sales, so the income has already been counted.
Rebates
Rebates is money a business gets back from an old purchase. It shows in the deposit section of a business checking account statement. Money had to be spent in the first place to get the rebate or refund and will not be counted.
FAQ on Business Vs Non Business revenue.
What is non business revenue ?
It is money that is not earned by the business from sales, sale of business assets, collections or the regular operation of the business.
Why is the lender not counting some of my business income?
The lender has decided that some of the money coming into your business is not consistent, or not the type they can count on to repay their loan, so they don’t count it.
How can the lender decline my business by not counting revenue that I earned?
The lender can count, or not count funds they see coming into your business for any reason. Their credit standards and criteria is not subject to law. It is based on their internal guidelines.
Conclusion
Some of your income may not be accepted as business income and may even be deducted resulting in a denial of your loan request.
Consider other lending programs when much of your revenues may be disputed as true business income. Contact us to match your business to programs that are not as strict in this type of review.
Was your business loan declined for a drop in mtd month to date revenue? Review 7 ways to improve your numbers now and get approved as soon as possible by Applying below!
1. Understand your Statement. 2. Why were you declined for your MTD? 3. Total Deposits. 4. Average Daily Balance. 5. Number of Deposits. 6. Overdrafts or NSF’s. 7. What can I do?
7 Ways to Fix a drop in deposits and get approved ASAP!
1. What do lenders do with that Statement?
The statement is used to review your cash flow as of the beginning of the new banking cycle, or your most recent cycle date. Follow the link here to get a Month To Date (MTD) Statement in a PDF form.
2. Why were you declined for your Month To Date?
The statement used to decline your business will have lower than average deposits and be weaker overall than prior statements. Lenders ask for recent statements when applying and do not usually ask for interim information.
They only request it approaching the end of the month, or if the most recent statement was weaker than older ones before it. After the 20th, lenders may ask for the current cycle business account activity statement because a lot may have changed in those last 3 weeks.
Expect a request for the current statement when the last full statement was lower than average. Lenders are looking for trends in your business revenue, especially negative ones. Declines are not the end of the line. Consider the top decline reasons as well as other loan types such as a loan against equipment.
3. Total Deposits in the current month.
Your current monthly totals from business revenue is the most important information mca lenders review in the current statement cycle.
Prorate your revenues to estimate what the full numbers will be for the entire current 30 day cycle.
Example:
Your company had $35,000 in revenues from March 1st through March 12th. What is the company be expected to do for the full 30 days if they maintain the same revenue pace?
$35,000 X (31/12) = $90,417. To breakdown the math in simpler fashion, 31/12 = 2.58333. Since there are 31 days in March and it is the 12th of the month, the prorated fraction is 30/12. To express that as a % , 1/2.5833 = .387. This means that .387% of March has gone by.
Almost the same prorated amount is derived by dividing the $35,000 interim deposits instead of multiplying, as follows:
$35,000 % .387 =$90,439. The $22 difference is due to rounding.
4. Average Daily Balance.
Why is it important? When your account’s average daily balance is low, then payments are more likely to bounce.
Average balances below $1,000 and especially below $500 are red flags in credit review and will get your request declined fast.
Work hard to keep a minimum balance of $1,000 and higher because it increases your chances of approval.
Lower average daily balances in the current cycle are very closely looked at in the review process.
5. Number of Deposits.
At least 5 deposits per month are desired for cash advances. Other types of loans do not have this requirement, but more are better.
More usually means you have a higher number of customers which is considered a lower risk.
6. Overdrafts or NSF’s.
Overdrafts and NSF occurrences hurt the most in the current month. Many customers say they do not want to keep money in the account.
There is a difference between not keeping excess money in an account and having overdrafts because of it. Negative balances come from not having enough money and bad money management.
7. What can you do about a drop in month to date sales ?
Try to increase your deposit totals before the end of the cycle. Deposits made just prior to the end of the statement cycle instead of the first day or two of the next one help current numbers.
Don’t let your balances get too low causing returned payments that show as NSF or overdrafts.
Ask what you need to have for a chance at an offer now and you may be given target numbers. These will let you know if the numbers are achievable. If all else fails, consider a micro business loan.
Can my business be declined for low current month’s sales?
Your business can be declined for having a drop in revenue even in the current month that is less than a 30 day cycle.
Is there anything I can do to get approved now?
Following the cash flow strategy outlined here gives your business a chance of getting funding now. There is still be time to correct the numbers in the same statement cycle.
Are there options that do not look at the most current deposits?
There are asset based options with a monthly payment that usually do not look at the most current deposits. Those merit a close look for businesses that cannot wait for their cash flow to recover.
Conclusion
Declines for a business loan due to a drop in month to date revenues is a real possibility. Most lenders do not look closely at current 30 days, but some do.
Understanding what the threats to an approval are and the actions to take. Help your business steer clear of an unexpected turndown due to dropped revenues in the last 1 – 3 weeks.
Keeping a close eye on total and average balances and overdrafts during the current 30 day cycle can make the difference between an approval and a last minute decline.
Payback months are the business bank statements for the same months 1 year ago. Lenders use these to help predict your company’s revenues in those months in the current year.
Apply below: for programs that increase approval amounts with strong payback months, but don’t lower offers with weak numbers a year ago.
4 Steps to understanding and handling this request
1. Understand Payback Months. 2. How to analyze your payback months statements . 3. Evaluate your requested amount. 4. Negotiation.
What are bank statement payback months?
1. Understand Payback Months:
Lenders evaluating a loan request may ask for payback months statements for the previous year. This means they want the same months from 1 year ago that you would pay back any new loan this year. They use to check if you can afford an mca merchant cash advance.
Example #1:
Your business applies for a loan with a business lender. The lender is considering a 6 month loan for a bank statement loan to your business and asks you for payback months.
A 6 month loan will have a payback from March 2021 through August 2021. You will give the lender payback months bank statements from March 2020 through August 2020.
They want to see what your business revenues were for the same months last year. This forecasts what they expect your business to do in revenues during those same months this year.
Seasonal businesses are very susceptible to large swings in revenue during the year and can expect lenders to ask for bank statements from the previous year to compare.
2. How to analyze your payback months statements.
For 6 month loan requests, take the same 6 months from the previous year. Add up the total revenues and divide by 6.
Example:
From March through August of 2020, your company had a total of $120,000 in revenues. The average monthly revenues are $120,000 % 6 = $20,000 per month. Lenders offer 50% to 100% of average monthly revenues for most offers. $20,000 x .5 (50%)= $10,000. $20,000 x 1 (100%) = $20,000.
Offers should be $10,000 to $20,000, but may be less.
3. Evaluate your requested amount
Match your request closely with your business revenues. Do not ask for more than you can qualify for because it could cause an unnecessary decline or delay.
Ask for $20,000 if 50% of your company’s average monthly revenues = $20,000. Don’t ask for $100,000 unless you have assets to leverage for the request.
Do not state any amount and let the lender make an offer as an alternative. Lenders usually make the maximum offer regardless of your request.
4. Negotiate
Maybe your business qualifies for $20,000, but you need $25,000. Should you accept the $20,000? No! Ask for $25,000.
How? Get 2 or 3 offers from different lenders and leverage those offers with each to extract the maximum. Take the offer from 1 lender and show it to the other two.
This way, you are greatly increasing your chances of a better offer. Because 3 lenders have proof of a competing offer, they have more incentive to match and exceed their competitors.
Bank statements for the exact same months last year that lenders are considering a business loan to your company for this year.
Why am I being asked for Payback Months?
Lenders look your sales last year to help them understand if your business could make a new loan payment this year with the same sales.
Can they decline me for low revenue a year ago?
They may. The lender can decide that your business cannot afford the new payments with similar sales from last year. Explain why your sales will be higher for the same period this year, if so.
Conclusion
Understanding and reviewing your bank statement payback months from last year will pay off. Why? First of all, you can help avoid a decline by reviewing last year’s statements. If they are very low, go to another lender.
Also because you will have a better idea how much you qualify for, should ask for, and how to negotiate.
