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:
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.
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.
Step 4: Submit an application
Step 5: Review approval offers
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: