Business Funding in Long Beach
Small businesses looking for business funding may face a problem getting the loan they require with the bank. The reason for this is simple, banks view small businesses and self-employed professionals as a high risk investment. As a result, they have devised criteria to minimize the risk of loss of investments. These criteria are very stringent and difficult for small business to get by.
Private lenders such as us however do provide business loans to self-employed professionals as well as small and medium sized businesses. The criteria that we have for a merchant cash advance are simple and easy to qualify for. They are as follows; the business needs to be over 12 months old, and the gross monthly sale or income of the business should be at least $15 thousand. Also the business owner should not be in bankruptcy.
Below average credit scores are not a limitation for us either, we do provide business loans with poor credit. Banks on the other hand will throw out an application that does not show a credit score of 700 or more. People with poor or below average credit scores have no chance with the bank. However, just having an excellent credit score will not do it for most banks, they also do require, monthly business statements that show good income and deposits, and good ending balances. Profit and loss statements, tax returns, personal financials and so on. Based on all the information collected they will then make a decision.
We also provide business loans for professionals, and self-employed professionals are one group that face some of the biggest problems with banks getting funding. The reason for this is the way banks look at loans for professionals. Funding Easily however on the other hand look at things very differently, we do not require collateral, security, or personal guarantees nor do we require above average credit scores.
To apply for a loan fill up the business loan application form, and if you require more information, contact us. Our Funding team will assist you with information as well as with the application of your loan.
Additional funds can be very useful for any business. You too can avail benefits.