How to prove your business address and location

What can you show to prove your business address and location?

Specific documents that prove the physical address of a business.  Learn which documents you can use, and how to get them.

If you cannot prove your business address or business location, contact us.
We can easily assist you in proving your business location.

6 Examples of Proof of Address  you can use – Further below.

A business owner applies for a small business loan such as a bank statement loan and is approved.
Closing requirements require the owner to provide documentation of proof of the address of the business. For a business loan, apply below now.

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Accepted Documents

The business owner can submit any of the following which will typically be accepted.

1. Business utility bills.

2. Business rental lease agreement. Also a copy of the business rental lease agreement.

3. Mortgage statement. This would show the business address.   If the business purchased the real estate through a commercial real estate loan, then a current mortgage statement can be provided.

4. A current business license. Often accepted if the business address has stayed the same since the business was established and the original business license was obtained. An option a  sole proprietor can provide is a business license or a schedule C.

5. Articles of Incorporation. A partnership agreement that has the same address on it may also be accepted.

6. Business tax return. Often accepted if the address is the same as the address on the business loan application

FAQ Prove your business address

What is accepted for proof of business address?

A copy of a business utility bill, business lease, mortgage statement, landlord verification, business license or articles of incorporation should work. See a complete list on page.

What can I do if my proof is not accepted?

Ask for all the choices they will accept to prove the location of your business. They may accept more than what they list. Pictures and videos of your business may be accepted. A site inspection can work as a last resort.

Why is a P.O. Box not acceptable?

P.O. Boxes are not the physical location of the business. Addresses that do not have a building or structure, vacant lots and raw land are not accepted as proof of a business address and location.

What is a site inspection of my business?

A site inspection is when someone comes in person to inspect your place of business. This is usually done for business loans, vendor relationships and when large contracts are signed between companies. The goal is to confirm the company’s address and that the business is open and operating.


How to prove your business address and business location

Step 1: When making any request or application in the name of your business, review in advance what may be required to prove your business location or business address.

Step 2: Tip: Gather information you have on your business location and business address in advance.  Have the items available or make a list to discuss.

Step 3: Do business with companies that will accept the proof of business address that you have, or can get.

Narrow down your list of businesses you will do business with to the ones that accept the proof of business location that you can provide.

Step 4: Make contact with funding programs and confirm your business address information will be enough.

Try to confirm ahead of time that the business address information will be satisfactory.

Step 5: Submit a request or application.

When satisfied you will meet the requirements, apply.

Step 6: If you receive an offer, first review the terms including the items required to prove the location and address of your business. If ready to complete an offer, submit the required items. Get final questions answered before closing. Finalize the transaction.

If you do not have the types of documentation for proof of business location or business address,   contact us below.   We can guide you, and give you tips on how you can get proof of your business location.
You don’t have any proof of business location and don’t know what to do and how to get it?
Sometimes business owners cannot prove the address of a business that is required to close a business loan.
How to prove business location.  Are there other ways?  What is the lender asking for?  There are other options in addition to the ones listed above.
If you cannot prove your business address now, review your options and fixes below:

How you can fix the following problem:

I can’t prove my business address and business location.

  1. Get an updated business license. Your city or county can reprint or resend a copy of your business license that shows the updated business address.  If the city or county shows a previous and outdated business address, then provide the current address before requesting a reprint of the business license.
  2. Review the address at the secretary of state to see the current business address and business location listed.  If the current business address is wrong, contact the secretary of state and update the articles of incorporation to update and list your current address.

Remember:  Evidence of your business address and business location is often required for small business loans.  The person applying in the name of the company has to be able to prove where the business is located.   This prevents mail correspondences from going to the wrong address and also helps prevent owners from making changes without the knowledge of the other owners.

Examples of what generally will not work for proof of address:

  1. Virtual office address
  2. P.O. Box: post office box
  3. Address to a vacant lot
  4. Raw land
  5. Address to a physical location that does not have a building or structure on it
  6. An out of state address.   This happens when the business is located in one state but a business address to a different location or another location in another state is provided.
  7. When the business address is in one state and the owners home address is in another state.   This is referred to as an absentee owner or out of state owner.

There are exceptions to some out of state owner situations.     If the business address is on the border of one state and the owner lives within a reasonable distance in a neighboring state.    A business owner that lives less than 50 miles from their business is usually acceptable.  Examples are a business that is listed in Kansas City, KS, and the owner lives in Missouri.    Other examples are a business in Chicago, IL, and the owner’s home address is in northwest Indiana, less than 50 miles away.

How to get a very low fico credit score business loan

Get a very low credit score business loan.

Business loans with very low credit scores.   Credit scores below 500 and as low as 383 are considered for a small business loan.  This low fico credit score business loan program is a good match for below 500 and sub 500 credit bureau fico scores.

Many programs do not offer small business loans with the owner’s credit score below 500, or have limited offers.    Get up to $150,000 in business funding with credit bureau and fico scores below 400 and down to 383.   Business funding is based mostly on the revenue of the business, not the credit score.

Contact us below or first read the “Howto” section steps, direction and tips to getting low fico credit score business loan and also other business financing and then apply below.   so call us. We will be happy to discuss your situation first.  Almost all callers will find out if they have a strong chance for approval after calling in.

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How to get a very low fico credit score business loan

Step 1: Research companies that have low fico credit score business loans as main programs.   Review minimum funding amounts, rates, features and benefits and processing time from application to completion.

Step 2: Tip:  Prepare explanations or documentation for any unfavorable or incomplete information in your business profile.   This can be slow business periods or limited information on your business.

Step 3: Choose the program that most fits your very low fico credit score and overall customer profile.

Pick the program that you think is going to be the best match for your business.

Step 4: Make contact with funding programs and confirm your business criteria meets minimum funding program requirements.   Discuss amounts with the lender representative.

Contact the lender and talk about whether your business meets the requirements.

Step 5: Submit an application for funding.  Provide documentation you have that improves your chance for an approval, higher offer amounts and better terms.   This can include financial statements, additional bank statements or tax returns.

Get a higher offer by submitting documentation that shows your business to be stronger.

Frequently asked Questions FAQ: How to get a very low fico credit score business loan

Can I get business funding with a really low score?

Yes, your business still has an excellent chance of qualifying with strong cash flow and revenue. Providing the most recent business bank statements showing you can make the payment will prequalify you.

Will we get less with bad credit?

Strong sales will still give the same or similar approval amount.

Can I get an offer with charge offs and delinquencies on my credit?

Your business can still get funding with the owner having charge offs or delinquencies. Programs your business can still qualify for include funding based on the monthly business deposits or the assets of the business. Funding based on assets can be real estate or equipment.

Will my business need collateral with very bad credit?

Your business does not have to have collateral with bad credit to get approved for a business loan. Unsecured options are still available for many future customers.

Can a good credit co-owner get approved instead of me?

Another owner with higher credit scores can apply if they have 50% ownership. Good credit co-owners with less than 50% ownership should apply under owner 1 and the other owner listed as 2nd owner.

How to get a used car dealer business loan

Your Source for Used Car Dealer Business Loans


Programs for:
Buy Here Pay Here Lots.
Start Up Car Lots.
Small and Low inventory Lots.
Low Monthly Sales Lots.
Bad Credit Owner.
Exotic and Specialty Care Lots.

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Are you a used car dealer and need capital? Used car lots are welcome here. Aggressive funding programs for this industry are funded every day! Low volume dealer options.

How to get a used car dealer business loan

Preparation

Step 1:  Research companies that specialize in used car dealer loans. Identify which programs meet your dealership’s needs for the amount, credit, time in business and what it needs the funds for.

Search online for used car dealer lenders

Prepare your documents

Step 2: Tip: Prep your information a few days before you need the funding. Amounts over $50,000 need more time to be approved and closed. Car lots selling more than $15,000 per month have a better chance of getting an offer.

Get company information, bank statements and business licenses together days before they are needed.

Look closely at the cash flow in your bank statements. Explain low sales months, overdrafts, nsf’s and low balance periods upfront when you first apply. This can help get approvals, better offers and help avoid declines.

Settle on Top Companies

Step 3:  Contact your preferred companies and ask about their approval criteria.
Tip: Ask if you can be prequalified. Some funders can either prequalify through an online application or a representative by calling in.

Contact the lender. What are their requirements? What are the most common reasons for denial?

Complete your application

Step 4: Apply with the programs the most aggressively solicit used car dealers while matching your needs. Complete an application for funding and provide all supporting documentation needed.

Apply with the best matching program.

Review Approvals

Step 5:  After approval, closely look at the terms and closing requirements. Get all of your closing documentation together and submit to complete the transaction.

If the closing terms are satisfactory, provide all remaining documents and close the transaction to receive funding.

The lender will usually make a final merchant call to you. They will verify that the owner completed the closing documents and is ready to start the transaction. Confirm this and receive the wired funds into your account.


Loans to used car dealers are considered restricted loans by almost all lenders.   We have programs for below 500 credit scores.

F.A.Q. Frequently asked questions

Can our car lot get fast funding the same day or next day?

Same day funding is possible for applications received by noon. After mid day, funding on approvals and closings is possible the next day.

How long does our car lot have to be in business?

Time in business of at least 3 months is needed. The most recent three months business checking account statements are then submitted to pre-qualify.

What types of car dealer loans are available and for how long?

Programs are for dealers that specialize in buy here pay here, new and used cars, specialty, luxury, exotic, and short time in business. There is an option for small lots with low inventory of less than 10 cars. The longest term option is up to 10 years and available in most states. Other programs are short term bridge loans from 3 to 10 months.

How much does bad credit matter?

Low credit scores and bad credit will rarely be declined. Scores can be as low as 400. Having cash flow and positive business checking account balances are the most important approval requirements.

What are the rates?

Rates start in the low teens and depend mainly on cash flow, time in business and credit.

Can we use this financing to buy more cars for inventory?

The working capital can be used for anything such as to buy cars at auction, from wholesalers, customer trade ins, or anywhere your dealership buys.
It can also be used to buy lot space, repairs and improvements.

Used car dealer loan financing. $2,500 to $1,000,000. Tips and steps on how to get a used car dealer loan.

How to get a large business loan

Use your business cash flow or assets to get a large business loan.  How to search and contact lenders and learn how to get approved.   Get business loans of $50,000 and up to $1,000,000 through these programs.  Fast and easy process with 1 to 3 day closings may be available.  Very little documentation and financials in most cases.  Business loans up to 2,000,000 available with either real estate or unsecured with strong monthly cash flow.

Search and contact lenders that offer a big business loan and review their approval criteria

If your business generates more than $50,000 per month in gross revenue, or your personal credit score is over 600, then your business has a good chance to be approved.
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How to get a large business loan: How to steps, direction, and tips:

How to get a large business loan fast and easy
Estimated Cost: $0
Total Time: 1 Day
Supplies Needed:  Financial statements if available, Business bank statements, and Tax returns for requests over $100,000.
Time available.

Tools needed: Internet connection, phone, computer

Step 1:  Preparation

Research companies that offer big business loans. Search for programs that best match your business for the amount requested, your annual sales, credit, time in business and use of funds by your business.

Search for companies that offer specific programs that you are looking for.

Step 2: Have your business financial information ready to go.

Tip: Start the process a few weeks before needing business funding.  Larger funding amounts over $100,000 often require more time for an approval. If your business generates more than $50,000 per mont hin gross revenue and your personal credit score is over 700, then your business has a better chance to be approved.
Review your business bank statements and financial information before providing. If there are any problems then write an explanation for those problems before applying. This can include slower business periods during the year, low net income on financial statements or any other reason.
Start weeks before you need the loan if possible. You may need that time to get documentation together.

Step 3:  Settle on the top 2 or 3 programs that best matches your business for your profile and the reason you want the loan.

Contact qualifying companies and ask about their qualifying criteria
Try to find out if your business has a good chance to be approved.   Some lenders may be able to prequalify your business over the phone
Call and talk with a representative of the most qualifying programs. Tell them your company’s main characteristics such as amount requested, time in business, credit and ask if you will qualify.

Step 4: Submit an application

Go with the most likely program you have determined can get your business a big business loan based on your review and any conversations you had with the lender.   Complete an application for funding and provide the supporting documentation requested to show business revenues such as bank statements or tax returns.
Is the program the best fit? Then apply!

Step 5:  Review approval offers

Once approved, review all details of closing terms and conditions. Make sure you can provide required items. Complete transaction and receive funding.
Was your business declined? Contact the lender and try to find out why you were declined.  Can you do anything to get the decision reversed?  If not, then go back to other lenders you looked at during your initial search. Ask the other lenders if the reason you were declined will be an issue for them.  If not, then consider applying with them
Review approval terms. If you are satisfied, provide closing stipulations and get funding into your business checking account.


FAQ Frequently asked questions.

How can I get a large business loan?

You need to be the majority owner of a business with time in business at least 6 months and revenues over $50,000 per month. Higher credit score will help get approvals and higher approval amounts.

How can we qualify for a larger business loan?

Businesses that have revenues over $50000 per month with credit scores over 575 and time in business over 6 months may qualify for a larger business loan. The higher the average bank balances or average daily balance the more your business can qualify for.

Do we need to provide more financial information to get higher amounts?

For amounts over $250000 more financial information may be required.  This can include the most recent years business tax returns and interim financial statements.

How many months bank statements do you need?

Between 3 and 12 months of the most recent business checking account statements are needed.

We are a startup business.   Can we get a higher amount for a business loan as a start up?

A start up can get large business funding amounts if they have had significant revenue in the first few months of operation.   Another requirement is the business will need to have been operating and generating significant revenue for at least three 3 months.

Our business will keep needing higher amounts of business funding in the future.  Can we use this like a business line of credit?

yes.  When the business pays the balance down to 50% or more it may qualify for more funding immediately.  Programs are available that allow businesses to draw funds after every 30 days of repayment.

Do larger business loans take longer to close?

They often do not take any longer than smaller business loans to close.  the repayment will be based on the cash flow of the business so most of the same information is reviewed.

Will Real estate and other assets be required?

Real Estate is not required but it may allow for an approval and a higher approval amount.   Most businesses take the maximum they qualify for without involving real estate or their other assets.

We filed an extension and do not have the most recent business tax return available yet.   Will this be a problem?

amounts less than $100000 do not require a tax return in most cases.  Amounts over $100,000 may require the most recent tax  return.

What are the main reasons businesses are declined for a larger business loan?

The main reasons are low business revenues as well as very low credit scores and a short time in business.

My business partner has very bad credit.   Will that keep us from getting a larger business loan?

Business owners with bad credit that have less than 20% ownership should not cause a decline.   over 50% ownership percentage may cause a lower approval amount or a decline of the request.

Can we get a big business loan with a month repayment and longer term?

Yes.   monthly and weekly repayment business loans are also available for larger business loans and may be up to 36 months or longer.

For other financing options, please review other alternate financing programs that may better match your business needs, below:

How to get a business loan with low deposit volume

Low business deposit volume

If your business was turned down for a business loan for having low deposit volume, programs are now available to get approved for business funding.  Your business can get approved with slow sales, and dropped deposit volumes down to less than $10,000 per month. Your business can even get funding with deposits as low as $7,500 per month and as low as $5,000 per month.

Changes in volume could be from many reasons including low deposit volume from the coronavirus covid-19 pandemic.  If so then go with other loan options that are available now such as a loan on equipment.

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How to get a business loan with low deposit volume

  1. Look at your last 3 months business checking account statements and document your total deposits.
  2. Search for a business loan program that specializes in funding with average deposits of less than $10,000 per month.
  3. Review approval requirements and terms and conditions as much as you are able prior to applying
  4. If satisfied, apply for funding.   When you are approved, review approval terms. If you want to close the transaction, request and complete closing documents.
  5. Close transaction

Does your business have low monthly deposit volume? Find a program that your business will be approved for.

FAQ Low Deposit Volume

Can my business get funding with less than $10000 a month in deposits?

Your business can get funding with monthly revenues as low as $5,000 per month. Average daily balances of at
least $1,000 per month will help offset low deposits totals. The deposits need to be from real business revenue.

Can we be approved with only 1 low month?

1 low deposit month can often be worked around if it was an exception. Providing the most recent 6 to 12 months business statements to show that the one month was unusual will strengthen your request. Also write an explanation for the low month at the time of application.

How much can we get?

Approvals depend heavily on how low the deposits are, your credit score, average daily balances, time in business and more. Average monthly deposits between $5,000 and $10,000 per month result in $2,500 to $5,000 offers.

How can my business get more money?

You can either get a second position funding or another type of loan. Your business may be an excellent fit for more options based on cash flow, credit, other assets or real estate.

Why do most lenders require $10,000 per month in deposits?

Many funders believe a business with $10000 in monthly revenues may not have enough money left after business expenses to repay loans. The biggest expenses include rental payments, payroll, inventory, utilities, taxes and insurance.

How to get approved for a small business loan


Follow the steps on how to get approved for a small business loan. The steps below increase your chance of being approved.
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How to get approved for a small business loan

  1. Step 1  Search online for lenders that allow you to leverage the strengths of your business when you apply for a small business loan. Consider your revenues and type of business as well as credit and time in business.
  2. Step 2 TIP: Picking a program that matches your business strengths will go a long way towards getting approved.
  3. Step 3  Review the criteria from different lenders needed for approval. Make a list of the top two or three funders and their best matching programs.

    Make a list of the top two or three funders after reviewing the criteria.

  4. Step 4 Contact lenders online and by phone. Review as much approval criteria as you can with a representative. Try to get the best idea possible how closely your business profile matches the requirements for approval.

    Get the best idea how likely your business is to get approved for funding with approval criteria.

  5. Step 5 Settle on the best match between business loan programs and your business strengths. Also consider your business requirements and time for funding. Apply for those programs that are the best match.

    Choose the best matching business funding program then apply

  6. Step 6 Read the terms and conditions on any approval to make sure your business can make the payments and meet all the requirements. Complete closing requirements to fund the transaction.
    Small Business Loans Depot

    Small Business Loans Depot

Need to get approved for a small business loan?  Apply now below:

Step and tips to help get approved for a small business loan.

FAQ Frequently asked questions on how to get approved for a small business loan:

How can we get approved for a small business loan?

Complete an online application. Provide any additional information on your company’s strengths, such as sales or time in business. Doing so gives you a better chance of being approved, for a higher amount, and with better terms.

Is there a minimum time in business required?

Three months time in business is needed. Programs with vehicles or accounts receivables do not require any time in business. They could be approved immediately after setting up the business with the secretary of state or city, if qualified.

Can we be prequalified to avoid being declined and credit pulled?

Call us and we can review your information and prequalify you over the phone. If your business does not qualify for one product, you may qualify for one of many other business loan options.

Can we get a longer term?

Term options for 1 to 2 years are available for short term categories. 36, 48 and 60 month programs with a monthly payment are available for customers wanting longer terms.

How to get money to stay in business

Is your business looking for ways to get money to stay in business? What are your options on how to get money to stay in business?

There are several options most businesses have an excellent chance to qualify for.   Join the many funded business owners that could not get funded before.  Contact us below now.

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Or call us at Tel:  1-919-771-4177, or get money to stay in business.

How to get money to stay in business:

  1. Step 1 Calculate your recent cash flow numbers.  This includes monthly gross and net income.   Look at your assets and your credit.
  2. Step 2 Find lenders that offer funding programs based on your numbers and your strengths.
  3. Step 3 Apply for the program that you determine best fits your company’s profile and has the best chance for approval.

Consider all loan options to make sure you are not missing any opportunities for funding.   You may be able to get funding through programs you were not aware are available.

Get money to stay in business by matching your strengths to company programs.

F.A.Q. – Frequently asked questions on how to get money to stay in business

Where can I get a business loan to stay in business?

Alternative funders are the best places to get funding when your business is struggling. If your business is having problems, a regular bank will very unlikely approve your business for funding. If you have proof of income for your business, such as bank statements or business tax returns, you may get funding based on revenues, such as bank statement loans

I’ve tried to get funding and have been declined. How is this different?

These options focus on programs that really match what your business will qualify for. Many businesses apply for programs they do not qualify for and get declined. Find out how your business can get money and apply for those programs


Some funders focus on better credit.  If your credit is not good, you may have been declined for credit.    It may have been better to apply with a lender that focuses on tougher credit customers.

Some lenders focus on programs that give more value to businesses that have strong assets or strong cash flow.  If your business does not have either of these then you may have applied for the wrong programs.

Matching business loan programs to your company’s strengths is critical.   Make a mental list of your company’s strengths.   This will give you a blueprint from which to work when you decide on lender.

Question:

Should I just apply once I have found the lender that seems to match?

Answer:

Call the company and discuss your needs with them first if you have time.   Tell them about your business and also what your strengths and weaknesses are.

Ask the company about their programs first to make sure they are not trying to match up their products to your business when they may not be a fit.

Question:

What if this does not work and I still cannot get loan to save business?

Answer:

You can call us and we will help you figure out if you may be missing opportunities.  Another type of funding may be best.   If you truly cannot qualify, then it is time to think about other options.

Final options after business loan decline:

Final options after business loan declines include:

  1. Adding a strong owner and sharing ownership.   This can bring in money and credit.
  2. Change your business model
  3. Scaling back your business
  4. Major expense cutting.
  5. Temporarily closing your business.

These options may allow you to work around the problem and get back up and running in the short term.

It may also be a good time to change your business model.  You can do this over the course of a few months and transition into a new business line.

Consider if adding a person to the business to bring in some money as a co-signer may work.   This can be someone who becomes another owner.   If they have good credit, the may be able to co-sign for a loan for the business.      These are more ways on how to get money to stay in business.

How to fix missed payments on a mca merchant cash advance or business loan


Have you missed payments on a cash advance or business loan?   This article will go over how to handle your business loan if it is past due.

There are several fixes you can take when you are behind on your mca merchant cash advance payments or business loan. These steps and others can  or make it much less severe.  One step is to payoff the past due loan by refinancing.
Contact us below for help on how to fix missed payments on a mca merchant cash advance or business loan you have missed payments on, or cannot pay any more on.
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How to fix missed payments on a mca merchant cash advance or business loan and what to do when you are behind.

  1. Step 1 Contact the lender.   Let them know you are having trouble paying the advance or loan.  Be prepared to answer why you cannot pay it and how you will plan to catch up.
  2. Step 2 Ask the lender to work with you.  Ask for lowered payments or suspended payments.   If they refuse ask them to offer you a plan for payments you can handle.   Determine in advance what you are able to pay.   Tell the lender what you can pay and ask them to set up a payment plan for that.
  3. Step 3 Follow through on your agreement.
  4. Step 4 *How to Tip: If you will not be able to continue paying the cash advance or business loan, ask the lender for options. There are often options available just by asking for help or letting the letting know you cannot continue to make the payments.
I missed payments and am behind on my mca merchant cash advance and business loan. Here is how to fix it.

What if you cannot pay the cash advance or business loan and cannot catch it up?

If you cannot continue paying the cash advance or business loan, ask the lender what the options are.  For missed mca payments, there are good options for past due borrowers.

If it is not a mortgage loan, the best solution is usually to try to work with the lenders.   When that is not possible, other options include:

1.  Pay a settlement on the mca merchant cash advance or business loan.

If you consider this option, negotiate hard with the lender on how this will be reported on your credit.   You want to push for the best possible credit bureau reporting of this event.    If the lender reports the tradeline as “settled for less than full balance”, this may be the best reporting.

2.  Applying with another lender

This is another excellent option if you can qualify.  Payoff the cash advance or business loan with another loan.   This works well if the balance of the loan you are past due on is low.    If your current past due loan has not damaged your credit too much yet, this option may work.

3.  Another option is to ask your current lender to modify the loan.

For example:
Your current loan is $500 per month and was for 48 months.   You have 10 months left.   Ask the lender to modify the mca cash advance or loan for a lower payment and for more months.  As a result, ask them to lower it to $200 to $300 per month for 20 and 25 months.

Tell them this benefits both of you because you will have a payment you can make and as a result, their loan will be paid.   Some lenders do not want to modify.   However, if you can show them you will be able to pay the past due business loan by getting a lower payment, they are more likely agree to it.

Provide documentation to support your request

Prepare a quarterly or monthly profit & loss statement to show the lender that you cannot pay but you will if they lower it.

4.  Take another hard look at all of your current expenses.

Can you easily reduce expenses somewhere else?   Are there services that you are paying for that you really do not need and can cut?   This can include business expenses and personal expenses.
How to fix your business past due loan. 1. Contact the lender. 2. Ask the lender to work with you by lowering or suspending payments. 3. Follow through on your agreement.

FAQ’s  – Frequently asked questions and comments

Question:  I am behind on a merchant cash advance.   How can I get out of it and get help for my business?
Answer:  There are other options you can consider to consider to clear out and settle your advances.  It is not too late.   Talk to the lender about every possible solution.  Show you are proactive and that you do not want them to file a confession of judgement.
Question:  Will a missed payment on a cash advance hurt my credit?
Answer:  One or two missed payments should not hurt your credit any or very little.    It should not have any affect on your personal credit.
Question: Will my business credit be hurt if I miss a payment on my business loan or my mca cash advance?
Answer:  Your business credit should also not be affected if you miss a business loan payment or cash advance payment by a few days.   However, your credit with the lender itself may be affected.    If your business loan goes too far past due or you have too many missed payments then you may have trouble getting another business funding from that lender in the future.

Accounts receivables financing

Accounts receivables financing is another way to increase the cash flow you need to pay your current past due merchant cash advance or business loan.    This can give you cash now which may be enough to pay the payments you missed and are behind on.

Consider an asset based loan

This includes a loan against equipment.  Funding is between 24 and 42 months and includes a monthly payment.    Earth moving equipment, Yellow Iron and  “over the road” OTR rigs, semi-trucks are usually accepted.

Business loan during the holidays

During the 2019 Thanksgiving and Christmas holidays your business may need a loan fast.    Where can you go to avoid the slowdown your business does not have time for?   We have several programs that are fast and do not have slow processing during a holiday such as 4th of July, Labor day, Thanksgiving, Christmas, New Year’s day, Rosh hashanah, Yom Kippur, and Hanukkah.     Contact us below now for fast business loans during the holidays.  Same day closings often possible.

Secure DocuSign 30 Second Application here
Call us at Tel:  1-919-771-4177, or Question? Contact us here.
Don’t want to wait until after the New Year to get funding?   Often lenders will require additional items for closing and take a long time to get back to you.

FAQ: Frequently asked questions on getting a business loan during the 2019 holidays

Can we get a business loan during the holidays?
Yes you can get a business loan the slow holiday processing time. This includes 4th of
July, Labor day, Thanksgiving, Christmas, New Years day, Rosh hashannah, Yom Kippur, and
Hanukkah. Fast and easy closings are available during this time
Will processing be slower just before and during the holiday time?
Processing will be fast leading right up to the holiday. Offices are open at normal
business hours the next day to process business owners quickly for funding.
My business needs funding during the holiday and we need to be able to talk to
someone. Will we be able to talk to someone during the processing time?
Yes, you will have someone to talk with while reviewing and processing your file.
Will you be short staffed for funding during the holiday?
There will be regular staffing to meet all of your needs for your business loan and funding
needs.

Need a business loan during the holidays?

What about closing documentation or closing stipulations.   Won’t those show down the closing process?
Closing documentation may be required.   We work fast through these issues to avoid closing delays.    What if I need a loan the same day?    A loan closing same day is possible.    If you are approved, you may be able to be funded the next day if you cannot be funded same day.

Top reasons business loans don’t close

Top reasons that prevent businesses from closing loans

Apply Here – Business Closing Specialists Or Call Tel: 919-771-4177

Cannot prove time in Business

Businesses often begin as a Sole Proprietorship or Partnership and Incorporate later.
When this happens, the Secretary of State will only show the time in business since the time of the Incorporation.  The time the Company was a Sole Proprietorship or Partnership will not be added.

For example, if a Company was Unincorporated for 3 Years and has been incorporated for 2 Years, it will only show on the Secretary of State as 2 Years Time in Business.   If the Company wants credit for the full 5 years, they should provide the business licenses since it began as a Sole Proprietorship.   Lenders will give the Company credit for the full 5 years.

Not being able to provide proof of the existence of the business

Some States do not require a business license to operate a business.   The owner will operate the business in their personal name and say they run a business.  They will not be able to get a business loan because they cannot prove the existence of the business the way Lenders require it.

Business Account balances are too low or overdrawn at the time of closing

After a business is approved for a business loan, their Business Checking account may be reviewed before closing.  This will include a review of the current balances, the Month to Date balances, NSF’s and Overdrafts within the last 30 to 60 days.

 
If these are too many NSF’s and overdrafts, the Lender may withdraw the approval.   Review your balances and activity to make sure this will not impact your approval.
Cannot pass bank verification

Many business loans require a verification of the business bank account.   This is often done through 3rd Party Vendors such as DecisionLogic, and Joinme.  Bank verification can also be done through phone verification.

The business cannot provide all of the documentation required in the closing stipulations.

Business loans have a list of closing requirements that have to be met. If the applicant can get most of them but not all of them, they may not be able to close the loan. If you fall short in getting the Documentation required to close a business loan, talk to the Lender about what is missing. You may be able to get the remaining items waived. Another option is to provide substitute information.  Many times alternatives to what was asked for may be accepted.

Frequently asked questions FAQ: The top reasons business loans don’t close

What are the main reasons businesses can’t close a loan?

Problems at closing and denials include not being able to satisfy closing requirements and
customer background checks. Other reasons include low revenues, bad credit, short time in business and type of business.

What can we do if there is a problem before closing?

Many obstacles to closing can still be overcome and the loan might still close. Possibilities include asking the lender for a lower amount. Ask them specifically what can you do to correct any closing problems and still fund the loan. Some things cannot be corrected but get them to offer solutions to you.

What business loans can we get after the banks have turned us down?

There are many alternative options your business can consider when traditional banks won’t
close the request. Contact us to review your specific situation.


Top Reasons Business Loans Don’t close

Avoid these problems and you stand an excellent chance of having your business loan close fast.