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.
Call 919-771-4177 for more info.
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.
How to get a large business loan: How to steps, direction, and tips:
Estimated Cost: $0
Total Time: 1 Day< Supplies Needed: Financia 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.
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.
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.
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.
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.
FAQ Frequently asked questions.
How can we qualify for a large business loan?
Time in business of 6 months and revenues over $25,000 per month are needed at a minimum. Higher credit scores over 600 will help get approvals and higher offers. Higher average bank balances also help.
Can we get a larger business loan with bad credit?
Your business can still get higher amounts with bad credit. Strong sales and time in business can overcome a lower credit score.
Can our start up get a bigger business loan?
Your start up will need about 6 months in business, strong sales and credit scores over 575 to have a chance at a higher approval amount.
Do we have to have collateral?
Your business does not need collateral to get a high offer. Strong sales are often enough. Time in business over 6 months and credit of 600 or higher can increase offers significantly.
Does the process take a lot longer?
The process often takes about the same amount of time. More documentation may be requested for amounts over $10000 and can take longer.
For other financing options, please review other alternate financing programs that may better match your business needs, below: