Business Funding in Colorado Springs
The businesses that need loans frequently are small and medium sized businesses, and these are the ones that have the toughest time getting business funding. The reason for this is simple, banks view small and medium sized businesses as high risk investments. As a result the qualification criteria that banks have in place are very stringent, making it difficult for small businesses to qualify. Due to this about 90% of small businesses who apply for a loan do not qualify.
Private funders such as Funding Easily, do provide merchant cash advance loans to businesses. Unlike banks our qualification criteria are very reasonable, and realistic. Our criteria are as follows, the business needs to be at least 12 months old, and gross monthly sale or revenue of the business should average $15 thousand or over, and the owner of the business should not be in bankruptcy.
In addition to this we also do provide business loans for professionals and business loans with poor credit. This enables loads of small enterprises and businesses to qualify for funding which they would not with the bank. The banks require a credit score of at least 700 to entertain a loan application, in addition to this they also do extensive analysis of the business documentation to approve the loan. This makes it difficult for small business owners who generally are unable to meet all the stringent criteria.
Professionals have a particularly tough time when it comes to obtaining a business loan for their businesses. We do provide self-employed professionals with loans for professionals without much hassle.
Most small businesses require the funding for expansion of business, marketing, inventory, equipment, working capital and so on. We do understand that a small business requires the funds when they require it and not after a few months from the time they applied for it. This is the reason we do also mention that we are able to process the loan applications within 48 to 72 hours at the earliest from the time we receive the application.
Contact us for a business loan, our funding team will provide you with the assistance you require, and if need be will also assist you with filling in the funding application.
We can help your business in Colorado Springs. Check out your options now