Business Term Loan
A lump sum, repaid on a fixed schedule
- Amount
- $20,000 to $1,000,000
- Cost
- Starting at 5.5%
Enclosure 6
Working Capital Loans
For the running of the business, not for a purchase
- Amount
- Up to $1,000,000
- Term
- 12 – 36 months
- Cost
- Starting at 4%
- Funded in
- 24 – 48 hours
Enclosure 6 · Re
What a working capital is for
Working capital is what a business uses day to day to keep running: wages, rent, stock, and the distance between doing the work and being paid for it. Unforeseen circumstances arrive in every business, and a bank's guidelines are frequently too strict, and too slow, to be any use at the moment one does.
This programme exists to fill that void. It carries the lowest published cost on this schedule — starting at 4% — and it funds inside forty-eight hours, which is the combination nothing else here offers.
It is less concerned with a high credit score than with an applicant maintaining healthy positive daily bank balances, which is a different question from the one a bank asks and is the reason a business turned down by one can be funded by the other.
— The funding desk
Worth asking
One question to put to any lender
Ask what the daily or weekly debit will be, and check it against the quietest week of your year rather than an average one.
Enclosure 11
The application
At no cost and no obligation. Fifteen minutes, six screens, and one application that reaches every lender on the network and qualifies the business for all six programmes in this schedule.
Rather talk to somebody first? (800) 540-2119.
Enclosure 3 to 8
Where it sits among the six
Business Line of Credit
A limit to draw against, and nothing owed until you do
- Amount
- Up to $1,000,000
- Cost
- Starting at 4.5%
Short-Term Business Loan
The same shape as a term loan, over four to twenty-four months
- Amount
- $10,000 to $1,000,000
- Cost
- Beginning at 6%
Working Capital Loans
For the running of the business, not for a purchase
- Amount
- Up to $1,000,000
- Cost
- Starting at 4%
Equipment Financing
Secured on the thing it buys, over one to five years
- Amount
- Up to $250,000
- Cost
- As low as 8%
Merchant Cash Advance
An advance on future sales, collected out of them
- Amount
- $5,000 to $500,000
- Cost
- Factor rate 10% – 35%