Instant Business Loans

Q: Can I get a business loan with a 500 credit score?

Yes. Many alternative lenders offer options for small businesses with less than stellar credit scores. In fact, some may set their minimum credit score requirement to 500.

Get access to revolving funds when you need it most.

Matthew Gillman

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Table of Contents

What are Instant Business Loans?

Getting approved for traditional financing through a bank is always an undertaking. The document requirements, paperwork, and credit requirements result in a lengthy process, and often, business owners find out they are not approved. Rather than waiting for a bank to approve your loan, online business loans instant approval are available, eliminating the intense document process. Instead of waiting months to get approved for a much-needed business loan, we can provide instant business loans, allowing companies to secure financing and focus on growing their businesses. Business loans’ instant approval can be closed and funded within 24 hours and have a hassle-free process.

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Benefits of working with our team!

Our company is dedicated to providing an in-depth overview of financing programs available to small businesses. We are solutions experts, not product sales people. Our objective is to take the time to understand each and every business that we work with and provide unbiased information on financing options. There are dozens of products that small business owners can use to finance their companies, but not every product is the right fit. By speaking with a dedicated Lending Advisor each and every small business owner is armed with the knowledge to make an educated and thoughtful decision. Knowledge is power and our goal is to share our expertise with each and every business owner we work with.

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Advantages to Instant Business Loans

Limited Documentation

The application process to apply for business financing through a bank is a daunting task. The document list is long and can include business tax returns, personal tax returns, years of financials, and extensive application documents that need to be filled out. Instant business loan programs can require as little as a one-page application and three months of bank statements. The light document requirements and speedy process make it easy to immediate business loans for small business owners.

Fast Underwriting

Immediate Approval

Approvals are immediately issued when underwriting is complete. The most significant advantage of the quick approval process is they usually are not subject to change. Once approval is given, the terms of the immediate business loans are firm, and the next steps are closing documents. Requirements for closing are typically a short list of information to help verify the original documents provided. As an example, a business tax return might be requested to verify ownership of the company.

Same Day Funding

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Types of Instant Business Loans

Equipment Financing

Instant equipment loans are available for small business owners that are looking to borrow less than $250,000 for equipment. These programs are available to a wide range of industries and include; transportation, medical, construction, retail, manufacturing, wholesale. The online application process is document light and can be completed in just 5-10 minutes. The document list needed for an approval is a one-page application, equipment invoice, 3 months of bank statements, and credit report for the business owner.

Invoice Financing

Quick invoice financing programs allow instant small business loans to access capital based on outstanding invoices. These programs are designed to accelerate and improve cash flow rather than waiting 30-90 days for customers to pay invoices. This flexibility enables companies to act quickly, improve working capital, and focus on growing their businesses. The application package consists of a simple application, a copy of an A/R aging report, and the invoices you’re looking to finance.

Bridge Loans

Small businesses frequently come across opportunities where they need to act quickly. Bridge loans are instant small business loans designed with a speedy process to enable business owners to strike when the time is right! The terms for bridge loans range from 3 to 18 months and loans can be closed in just a few hours. Documents required for bridge loans are as easy as it gets. With just an application and bank statements bridge loans can be approved up to $500,000.

Lines of Credit

Like bridge loans, business lines of credit instant approval can be closed and funded almost instantly. The most significant benefit of a business lines of instant credit approval is the flexibility in draws and repayment. Unlike a bridge loan, all the money is not funded at one time. Business owners have the flexibility to draw as needed and use the money when the time is right. Often referred to as standby capital, business lines of credit provide a cushion for when capital is required. Business owners can apply for a business line of credit up to $250,000 with a one-page application and three months of bank statements.

Term Loans

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How to use Instant Business Loans

Working Capital

Instant small business funding provides a cash cushion for business owners to use for ongoing working capital. Frequently daily expenses are unaligned with customer payments and sales. When this is the case, a cash flow gap needs to be filled. Utilizing instant business loans provides instant small business funding with the needed working capital for ongoing operations and potential opportunities.

Machinery and Equipment

Payroll

Making payroll is always the number one priority for small businesses. In order to keep good employees, it’s crucial to make sure that invoices are paid on time. It’s easy to avoid being in a bind for payroll by planning ahead and having access to a line of credit. If you don’t have a line of credit, then you can access an instant business loan. Whether a bridge loan for a quick cash infusion or a line of credit to tap, there are a variety of ways to solve working capital challenges.

Lines of Credit

Similar to bridge loans, business lines of credit can be closed and funded almost instantly. The biggest benefit of a line of credit is the flexibility in draws and repayment. Unlike a bridge loan, all the money is not funded at one time. Business owners have the flexibility to draw as needed and use the money when the time is right. Often referred to as standby capital, business lines of credit provide a cushion for when capital is needed. Business owners can apply for a business line of credit up to $250,000 with a one-page application and three months of bank statements.

Inventory Purchases

Business Expansion

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Industries that use Instant Business Loans Manufacturing

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Criteria and Eligibility for an Instant Business Loan

The documents needed to apply for an instant business loan often depends on what the money is being used for. For general working capital needs, such as payroll, inventory, or just an infusion of cash, the process is quick and easy. With just a one-page application and 3 months of bank statements you can receive funds in as quick as a few hours. When financing or leasing equipment the only documents that would be added for underwriting is an invoice for the equipment and a copy of a credit report for each owner of the company.

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Case Studies of Instant Business Loans

Case Study #1

There was a client that worked in the retail industry and needed capital to purchase inventory for the upcoming tourist season. They are based out of Hilton Head, South Carolina and generate a majority of their revenue in the summer months. Cash flow was tight from the winter and they needed to ensure they had the inventory in stock to take advantage of the busy season. If they did not have the inventory, they would be losing out on tens of thousands of dollars in revenue that they relied on to operate the business. They needed a line of credit to be able to purchase the inventory and pay back the line as they generated new sales. They were able to make the inventory purchase, meet the demands of the busy season and generate the revenue to pay off the line. We provided them with a revolving line of credit so they always have capital to purchase inventory and operate effectively.

Case Study #2

A client owned a hotel in a college town in Ohio and needed capital for expansion to meet the demands and quantity of guests. One of their competitors had recently closed and they had a unique opportunity to take on more business. They had 6 months before the new school year began and wanted to make sure that the expansion and renovation was complete before their busiest time of the year. They wanted to expand from 60 to 80 rooms and needed financing for the all of the renovation costs. The anticipated time for the renovation to be complete would be close to the start of the school year and they had to move as quickly as possible. They had money to start the renovations but needed a bridge loan to ensure that it could be completed properly and within their timeframe. With the bridge loan they were able to complete the renovation, purchase new furniture and hire additional employees. We secured the financing in the timeframe they needed so they were ready for the start of the new school year and were able to generate the additional revenue.

Case Study #3

A construction company had the opportunity to take on a large contract and needed to ensure they would be able to purchase and lease the equipment necessary to take on the project. They would need to be able to prove that they not only had the equipment but also the financing that was needed to take on a project of that size. Although they had been in business for over 10 years they had never taken on a project that large and never needed this great of an amount of capital. This was an opportunity for them to generate a large amount of revenue for the business and they didn’t want to miss out on the opportunity. They were confident they could do the job and this would lead to other business opportunities but without financing, there was no way they could complete this job. We were able to meet their timeframe and secure them with the financing they needed to take on the contract. They completed the project and the client was more then satisfied with the job they did.

FAQ

How can I get instant loan for business?

To increase your chances of getting your loan application approved faster, follow these tips.

Tip #1. Apply from online lenders. You can complete your application online and get your loan application approved within 24 to 48 hours.

Tip #2. Submit the complete documents. Ask the lenders what paperwork or documents they’ll need so you can prepare it beforehand.

Tip #3. Provide the needed information in the application. If you miss even one single piece of information, it will further drag the application process. It’s also important to keep your lines open in case the lender needs to ask questions.

Can I get a business loan with a 500 credit score?

How to apply for a business loan online?

Here's how to apply for a business loan online:

Step 1: Fill out an online application form - It's quick, easy, and won't impact your credit score.

Step 2: Application review - After submitting your form, our team will carefully review your application.

Step 3: Personalized consultation - We'll reach out to you to discuss tailored equipment financing options based on your business needs.

Step 4: Receive loan offers - Take advantage of exclusive loan offers from our trusted partners.

Step 5: Secure funding - Choose the best loan offer and get the funding your business deserves.

Instant Business Loans

Let's Get Started

What are Instant Business Loans?

Benefits of working with our team!

Advantages to Instant Business Loans

Types of Instant Business Loans

How to use Instant Business Loans

Industries that use Instant Business Loans Manufacturing

Criteria and Eligibility for an Instant Business Loan

Case Studies of Instant Business Loans

FAQ

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