Bank statement loan
Other programs currently available. Contact us or complete the application below! Are you being asked for a month to date business bank statement? Read more here and apply or apply on the 30 second application below.
Provide the most recent 3 months business checking account statements.
Get a bank statement loan today based on your company sales. If your business has 3 months of revenue, get business bank statement funding based on sales. United States and Canadian companies only.
Many businesses have excellent cash flow and payment history. Still, they are often declined because of limited collateral or unsatisfactory personal credit. These businesses have access to capital with these programs.
We agree. Small business loans depot can provide business bank statement financing quickly. Based on your Business revenue, we can get your business the capital it needs within 1 to 3 business days or less. Fast closing with same day closing possible. Weekly and monthly payment programs available. See if you qualify.
Business bank statement loans include the following list of features:
- The highest approval percentage of any business financing.
- Every business has cash flow, many businesses can qualify for a loan against bank statements.
- Only 3 months bank statements requested.
- Just a short 1 page application is needed.
- Fast turnaround, one or two day approval common.
Get your business bank statement loan today. Call us now at Tel: 919-771-4177
Online closing and same day closing possible. Weekly payment programs as well as monthly payments programs for highly qualified customers.
Large business loans available. Programs for a business loan over $100,000, $150,000 and up to $1,000,000.
– Other documentation may be requested on a case by case basis.
– All programs are for U.S. and Canadian (Canada) companies only.
Contact us today. Get your business funded. Start now.
Other bank statement loan features:
Up to 100% of a customer’s total monthly deposits may be approved. If your business has average monthly deposits of $50,000, then an approval up to $62,500 may be possible depending on other factors. If the businesses average daily balance is strong, the approval amount can be higher.
Some bank statement loan programs can be used similar to a line of credit. As a result, the customer uses the line and also repays at their discretion. The customer can use the full line or part of the line amount again immediately. The line can also be left idle for months until it is needed again. This line does not require an annual pay down and annual or quarterly financial statements are not needed. The financing is also known as an ach business loan.
Provide the most recent 3 months business checking account statements. The higher the total deposits per month are, the more the bank statement loan amount may be.
Required to qualify or pre-qualify.
– Signed and dated application for at least 50% of ownership.
– Last 3 months complete business bank statements from main business operating account.
– For amounts over $250,000: The most recent 6 months business bank statements and first page of the most recent business tax return.
– Other requirements may apply.
General closing requirements for business bank statement financing:
– Valid and clear current driver’s license.
– Voided business check for approved account.
– Valid e-mail address for owners.
– Federal tax id number, or tin.
– Other documentation required on a case by case basis.
Other business bank statement loan customer benefits:
– New loans may be offered 60 days after closing first loan for certain programs depending on eligibility.
– Renewals and renewal options often begin at 40% pay down of balance.
– New programs for qualified businesses available that allow new funding
draws almost immediately. This can be used similar to a business line of credit.
– No standard site inspection for most clients.
– Tax liens up to $100,000 may be accepted with a repayment plan.
– Bankruptcies; 1 Year usually O.K.
– Only 50% ownership required in some cases.
– Soft credit pull for certain programs.
– No prepayment penalty for certain programs, if qualified.
The newest option is an open tax lien business loan under $10,000, which may be approvable. An irs payment arrangement is not required. 3 month to 12 month terms are available if qualified. Business with an open tax lien and no payment arrangement can be financed.
FAQ Frequently asked questions on bank statement loans:
What is a bank statement loan and how does it work?
A bank statement loan is a loan or advance for a business based on it’s recent cash flow. The most recent three months checking account statements are submitted with an application. Approvals are based heavily on total monthly business deposits and average daily balances. Real estate is not required.
How long does funding take?
Businesses can be approved the same day. Funds can be transferred into the business checking account within 2 hours of receiving completed closing documents. Final documents received by 3 pm eastern may be funded the same day.
What is the maximum amount we can get?
The amount depends heavily on the total dollar amount of deposits per month and average daily balances. Time in business and type of business are considered. Credit scores can be as low as 400 for some programs.
Do you have weekly and monthly payment options?
Weekly, bi-weekly and monthly payment options are available to qualifying applicants.
Can we still get business funding with an IRS tax lien on my credit?
Yes. Programs are available with federal or state tax liens on the business or the owners with a payment arrangement in place. Provide documentation on the payment agreement.
Is this a hard or soft credit pull?
Many soft pull program options are available. Some programs are a hard credit pull but are excellent and may offer the highest approval to an applicant with the lowest terms.
What callers ask for when calling in:
These products fall under one basic product type. Callers call in with many different requests. Requests from callers include a “business bank statement loan” and a “loan based on bank statements”. Other requests from callers include a “business loan using bank statements”. “bank statement loan for business”, and “bank statement financing” are also requested.