Asset Based Loan

Asset based loan

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.

Join thousands of business owners who have gotten an asset based loan.
Together, you will get you the best program for your business with Smallbusinessloansdepot, the first choice for an asset based loan.
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.

Complete the secure DocuSign 30 Second application now.
Or call us at Tel:  1-919-771-4177, or get an asset based loan now 

  • Fast and easy process.   Short online application and closing.
  • Little documentation.
  • Bad credit and tough deals are often approved and closed.

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

Asset Based Loan
Asset based loan options for businesses

“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.

Representatives service the following cities in the Western Region and can be contacted.

Alaska, Hawaii and California

In Anaheim, CA and Anchorage, AK. Bakersfield, CA and also in Carlsbad, CA. Chula Vista and also Fontana, CA. Fremont, CA and in Fresno, CA. Hayward, CA and Honolulu HI.  Irvine, CA and in Madera, CA. Modesto, CA and also Merced, CA.  Oakland, CA and in Ontario, CA. Oxnard, CA and Riverside, CA. Roseville, CA and in San Francisco, CA. San Jose, CA and also San Diego, CA. Santa Ana, CA and in Santa Clara, CA. Santa Rosa, CA and Sacramento, CA. Salinas, CA and in San Bernardino, CA. In Santa Barbara, CA and also Santa Maria, CA. Sunnyvale, CA and in Stockton, CA. Thousand Oaks, CA and Vallejo, CA. Ventura, CA and also in Visalia, CA.

West Region:

Representatives in the following cities may also be contacted:

Nevada, Oregon and Washington:

In Bellevue, Washington and Eugene, OR. Everett, WA and in Henderson, NV.  Kent, Washington in addition to Las Vegas, NV.  Olympia, WA and also Portland.  Reno, NV and Seattle, WA. Olympia, WA and in Paradise, NV.  Portland, OR in Renton, Washington.   Salem, OR and in Seattle, WA.  Sparks, NV as well as Spokane, WA. Tacoma, WA, Vancouver, Washington and Yakima, Washington.

Arizona and Utah:

Albuquerque, AZ and Avondale, AZ.  Chandler, AZ and in Flagstaff, AZ.  Gilbert, AZ and in Glendale, AZ.  Goodyear, AZ and also Mesa, AZ. Nogales, AZ as well as Ogden, UT.  Phoenix, AZ and in Peoria, AZ.  Provo, UT and Scottsdale, AZ. Salt Lake City, UT and also Scottsdale, AZ.  Surprise, AZ and aslo in Tempe, Arizona.  Tucson, AZ, Yuma, AZ and San Tan Valley, AZ.

Colorado, Idaho, Montana, New Mexico and Wyoming:

In Albuquerque, NM, Aurora, CO.  Boise, ID and in Cheyenne, WY.  Colorado Springs, CO as well as Denver, CO.  Helena, MT and Lakewood, CO as well as Santa Fe, NM.

South Region:  

Consultants in the following cities can be called to schedule a same day appointment
or call: 

Kentucky, Virginia, Washington, D.C., and West Virginia: In Alexandria, VA and Arlington, VA. Chesapeake, VA and in Hampton, VA.  Huntington, WV and also in Kenner, VA and Lexington, KY. Louisville, KY as well as Lynchburg, Virginia.  Newport News, VA and in Norfolk, VA.  Petersburg, VA and also in Portsmouth, Virginia.  Richmond, VA and Roanoke, Virginia.  In Suffolk, Virginia and also Virginia Beach, VA.

North Carolina, South Carolina:

In Anderson, SC and Asheville, NC.  Cary, North Carolina and also in Chapel Hill, NC. Charleston, SC and in Charlotte, NC. Chattanooga, TN as well as Columbia, SC. Concord, NC and Davidson, TN. Dunn, NC, Durham, NC and Fayetteville, NC. Franklin, TN, Gastonia, NC. as also in Greensboro, NC. Greenville, SC,  Henderson, NC as well as Hickory, NC. High Point, NC, Kingsport, TN and Knoxville, TN.  In Maudlin, SC, Memphis, TN and also Morristown, TN. Murfreesboro, TN, Myrtle Beach, SC and Nashville, TN.  North Charleston, South Carolina as well as Raleigh, NC. Sanford, NC, Lenoir City, TN and in Shelbyville, TN. Spartanburg, SC, Wilmington, North Carolina and Winston-Salem, NC.

Florida:

In Cape Coral, FL, Clearwater, FL and Daytona Beach, FL. In Jupiter, FL, Fort Myers, FL as well as Ft. Lauderdale, FL. Hialeah, FL, Jacksonville, FL and Lakeland, FL.  Melbourne, FL, Miami, FL and Ocala, FL.  Pensacola, FL, Kissimmee, FL as well as Naples, FL. Orlando, FL, Ormond Beach, FL and also in Palatka, FL.   In Palm Bay, FL, Pensacola, FL and also Port St. Lucie, FL. Saint Petersburg, FL, Sanford, FL and Tallahassee, FL. In Tampa, FL, West Palm Beach, FL as well as Winter Haven, FL.

Alabama, Georgia, and Mississippi:

In Atlanta, GA, Augusta, GA and Birmingham, AL.  Gulfport, MS, Hoover, AL and also Huntsville, AL. Jackson, MS, Mobile, AL as well as Montgomery, AL. Savannah, GA,  St. Mary’s GA and also in Talladega, AL.

Arkansas and Louisiana:

In Baton Rouge, LA and Fayetteville, AR.  Forrest City, AR,  Lafayette, LA and Little Rock, AR. Metairie, LA and New Orleans, Louisiana. Baton Rouge, Louisiana, Shreveport, Louisiana and also Lafayette, Louisiana.

Oklahoma and Texas:

In Arlington, TX and Austin, TX.  Bartlesville, OK, Beaumont, TX and in Corpus Christi, TX. Dallas, TX, Edinburg, TX and in El Paso, TX.  Ft. Worth, TX, Houston, TX as well as Killeen, TX. Lafayette, LA, Mission, TX and Muskogee, OK.  Oklahoma City, OK, McAllen, TX and also in New Braunfels, TX.  Round Rock, TX, San Antonio, TX, as well as Shawnee, OK.  Sugarland, TX, and The Woodlands, TX as well as Tulsa, OK.

Midwest Region:
Representatives in the following Midwest cities can be contacted:

Illinois, Indiana, Wisconsin:

In Anderson, IN, Carmel, IN, and Aurora, Illinois.  Chicago, Illinois, Elgin, Illinois as well as Rockford, Illinois.  Joliet, Illinois, Lee’s Summit, Missouri and in Naperville, Illinois.  Springfield,  Illinois,  Peoria, Illinois and also in Elgin, Illinois.  Waukegan, Illinois, Cicero Town, Illinois as well as Champaign, Illinois.  Bloomington, Illinois, Decatur, Illinois and Eau Claire, WI.  Fort Wayne, IN, Gary, IN and in Indianapolis, IN.  Madison, WI, Milwaukee, WI and Naperville, IL.  Green Bay, Wisconsin, Kenosha, Wisconsin, and Peoria, IL.  Racine, WI, Springfield, IL and also Waukesha, WI.

Michigan and Ohio:

In Akron, OH, Ann Arbor, MI and Canton, OH.  Cincinnati, OH, Cleveland, OH and also Columbus, OH.  Dayton, OH, Dearborn, MI and in Detroit, MI.  Flint, MI, Grand Rapids, MI as well as Marion, OH. Maysville, OH, Muskegon, MI and Parma, Ohio.  Toledo, OH, Wilmington, OH, Wyoming, MI and also  Youngstown, OH.

Kansas, Nebraska, North Dakota and South Dakota:

In Council Bluffs, NE and Kansas City, MO.  Lawrence, KS, Omaha, NE as well as Wichita, KS.

Iowa, Minnesota, and Missouri:

In Bloomington, MN and Columbia, MO. Davenport, IA, and also Des Moines, IA.  Duluth, MN and also Independence, Missouri.  Kansas City, Missouri and Minneapolis, MN. Overland Park, MO as well as Rochester, Minnesota.  Springfield, MO, St. Charles, MO as well as St. Joseph, MO.   Springfield, Missouri and St. Louis, Missouri.  St. Paul, Minnesota and St. Cloud, MN.

Northeast Region:

New York:

In Albany, NY,  Batavia, NY and Buffalo, NY.  Cheektowaga, NY, New York City, NY as well as Niagara Falls, NY.  Rochester, NY, Schenectady, NY, Seneca Falls, NY and Syracuse, NY.

Maine, Vermont, New Hampshire and Massachusetts:

In Bangor, ME and Boston, MA. Burlington, VT, Cambridge, MA and Concord, NH. Montpelier, VT, Newton, MA as well as Portland, ME.  Providence, MA and Springfield, MA. In Warwick, MA as well as Worcester, MA.

Pennsylvania, Maryland and Delaware:

In Allentown, PA and Baltimore, MD.  Bethlehem, PA, Columbia, MD and Dover, DE. Harrisburg, PA, Lancaster, PA and in Lansing, MI.  Lebanon, PA, Manchester, PA as well as New Castle, PA.  Philadelphia, PA, Pittsburgh, PA and also Reading, PA. In Salisbury, MD, Scranton, PA and Towson, MD.  In Weirton, PA, Wilmington, DE and also in York, PA.

Connecticut, New Jersey and Rhode Island:

In Bridgeport, CT and Camden, NJ.  Hartford, CT, Jersey City, NJ as well as Milford, CT.  New Haven, CT,  New London, CT and Newark, NJ.  Norwalk, CT and Norwich, CT.  Providence, RI, Stamford, CT and also in Trenton, NJ.

Thank your for visiting our fast and easy same day business loan page.  Because the success of your business is our goal

Thank you for visiting our asset based loan resource page!

Are asset based loans better for higher loan amounts?

When businesses request funding for higher dollar amounts, they typically will consider an asset based loan or unsecured loan.   Which financing type is more likely to get the businesses a higher funding amount, and which financing products should a business apply for?
Complete the secure DocuSign >>15 Second Application now.<<
Or call us at Tel:  1-919-771-4177, or Question? 

What is considered a higher loan amount for a business loan request?  In general, amounts up to $50,000 are considered low enough that they will be evaluated “App only”, which means that a decision will be rendered based just on the application information.   When a request is over approximately $50,000, financials will be required.   Any amount over $100,000 will be considered a larger request.

For requests over $50,000 to $100,000 and more, it will be easier to qualify through asset based loan programs rather than unsecured programs.   Lenders generally will consider a business with similar credit guidelines up to those amounts, especially up to $25,000.  Above those figures, businesses will need to have Gross Receipts over $1,000,000 or so in order to be seriously considered for a $100,000 unsecured loan.    If their sales are lower, or significantly lower, they should consider only asset based loans.

There are multiple asset based loans that businesses can consider.   In general, the most common types are those in which the lender will take a blanket lien on the business.   This occurs most frequently when the lender is a traditional lender.    The blanket lien means a lien on all furniture, fixtures and equipment.     Another type of asset based loan is when the company puts up equipment assets.    A further asset based financing type is when the business puts up liquid assets, such as listed Stock, Money Market accounts, or even Certificates of Deposit.

Whatever financing is chosen, if a business is requesting over $50,000 to $100,000 or more, they should generally consider asset based loans, as the approval rates for unsecured loans in this dollar range and above is significantly lower.

Sales loan

Business Sales Loan.  Definition of a business sales loan or loan based on sales.

For a Sales loan or business loan against sales, Small Business Loans Depot offers niche sales loan and business loan against sales financing based on the Gross Sales of the Business.   The vast majority of businesses have sales and will pre qualify.  The funds can be used for any purpose, marketing, advertising, inventory, expansion, additional employees, cash flow, any reason.  Did you know you could find a lender that could give your business a loan against it’s sales?  Go to our features and benefits section or call to quickly learn how this program can solve your company’s cash flow needs quickly and effectively.

Complete the secure Docusign >>>15 Second Business Sales Loan Application now.<<<
Or call us at Tel:  1-919-771-4177, or Questions? 
Please get this info back to me and then we will look to put together an offer and term sheet on Friday.

To qualify for this sales loan, or business loan against sales, businesses provide their last 6 months complete business checking account statements.  They then complete the one page application.  A business also has the option of providing the most recent year’s business tax return, for which a higher amount may be obtained.  If the total monthly deposits are high, the final approval may be higher.  The customer can choose from 3 to 18 month repayment terms, though 6 to 12 months are the most frequent approval terms.    The majority of approvals allow the customer to decide which of these options they want.

FAQ’s, Frequently asked Questions:

What is a Sales loan?

Funding amounts for this sales loan as well as business loan against sales range from $5,000 to $250,000.  Up to 125% of the total dollar amount of monthly deposits can be approved.  If the customer deposits $10,000 per month, up to $12,500 can be approved.    Approvals are generally obtained in 1 to 3 business days.

If the company’s beginning and ending balances, especially average daily balance, are high, the final approval amount tends to be higher.  Should the customer have more than one business account, then statements for both accounts should be submitted.  Providing statements for more than one account will get the highest amount approved.  Seasonal businesses should submit the most recent 12 months business checking account statements.

As an example, a snow plowing business is highly seasonal with at least 3 or 4 months in the winter being the highest volumes.  Instead of a lower approval amount or denial, provide the last 12 months statements for the highest chance of approval and highest approval amount.

How can I increase business sales?

Use like a line of Credit.    This Sales loan, or business loan against sales is basically a line of credit that the customer uses at their discretion.  Since the most common loan terms are 3, 4, 6 and 9 months, this sales loan and business loan against sales product is used as a bridge loan in most cases.   If the customer is approved for $100,000, they can use the full $100,000, or they can choose to use $50,000 initially, then another $50,000 in a second take down.  Once the line has been repaid, it can be used again immediately by the business, or left dormant for months, then used again.

Periodic Line Size Increases.   Upon continued usage, the line size is increased over time.  Existing customers are the most preferred.   Better deals are not given to new customers.  A customer that is doing a second or third renewal will always receive a higher line size than an initial customer.     After a few renewals,  the credit line is often 100% or 200% higher than the original approved line.

Line not shown on individual credit report.   This Sales loan, or business loan against sales is not listed on the individual’s personal credit file.   business credit is established with the primary business credit bureau agencies such as Experian business credit report, Dun and Bradstreet and Paynet.

Features of a sales loan or business loan against sales product include:

No advance payment fees or application fees.                                                                          Low credit score is accepted.   Credit scores below 500 can be approved.
No restrictions on how the working capital is used.                                                                    No collateral is required.   This is an unsecured transaction.
Complex and difficult transactions routinely done                                                                 Quick and Easy application process
The entire process take only five to eight business days

What are the credit criteria looked at for this Sales loan, or business loan based on sales?

The average daily balance.

Dollar amount of Monthly deposits. 

Ending bank balances

Business checking account beginning balances.

Gross income Flat or increasing Gross Sales from year to year.

Net income.   It is also expected that Net income figures will be relatively flat or increasing from one year to the next.

Overdrafts. The bank statements are analyzed for the total number of overdrafts and NSF instances. 5 is the maximum.

Contact us today and we will answer all of your questions thoroughly and intelligently.

 

Gross Sales Loan

Businesses have long looked for financing based on Sales, rather than requiring excellent credit, collateral and financial statements.  A Gross Sales Loan is available now.    Funding ranges from $5,000 to $250,000 with a fast turnaround.   Upon approval, funding can take place within 1 business days.    4 months time in business and a 500 or higher credit score is required.    In some instances, the credit score can be below 500.  What is a Gross Sales Loan?

Features and benefits

Only 3 months in business required and credit scores below 500 accepted are also accepted.

Complete the Secure DocuSign 30 Second Application now
Or call us at Tel:  1-919-771-4177, or Questions?

This loan is set up in practice in similar fashion to a line of credit.   Your business decides how much in funds are wired into your business checking account.   The customer is approved for $50,000.   50,000 is then wired into the customer’s account within 1 – 3 business days after approval.    Upon repayment, the customer can renew the line for another round of funding.

Frequently asked questions:

Question:   We have 2 major business checking accounts with significant balances.   Can we combine the two accounts to get a much larger line size?
Answer:  Rather than do 1 large line size for 2 accounts, we can establish 1 line for each account.   This allows your business to accommodate the cash flow needs for each account.  It also prevents the business from overextending it’s available cash flow from 1 account.
Question: Our Sales went down from the previous year to the current year.  Will that hurt our chances?
Answer:  Your business still has an excellent chance of getting an offer.    We will look at the most recent three to six months of gross sales to determine what the approval amount will be.  If your sales in the most recent three to six months went down dramatically from month to month, then the approval amount for the loan based on gross sales may be lower than if the sales had been steady.     Higher sales in the last three months will give you a higher offer.
Question: After we pay it off, do we have to re-apply again from scratch?
Answer:   You only provide updated statements for the last 3 months to renew.   Funds are wired into your business checking account at closing.
Question:  Are financials or collateral required?
Answer:   Collateral and financials are not required to qualify.   Depending upon the amount of the approval and the customer’s requested amount, the customer can choose to provide financial statements in order to qualify for an even higher possible amount.

Question:  What if I don’t use the line?

Answer:  Nothing happens.  Submit the most recent statements when your business needs funding again.

Sample Gross Sales Loan Transaction:

Magic Muffers in Doraville, Georgia needs $30,000  in working capital.    They did not qualify for other types of loans and another bank declined them for a property loan.

Magic Muffler has $450,000 on sales per year.   They apply for a Gross Sales Loan and complete a one page application.  The company also submits their last 6 months business checking account statements.

The approval for Magic Muffler is for $35,000.    The customer wishes to proceed and gets the loan documents in their E-Mail.    They fax back the completed loan documents.     The paperwork is reviewed and a final verbal verification of the transaction is completed with the customer.

Funds are wired to the customer’s account within 24 hours.