Business Funding - Expansion Capital
The flexibility can work well in a businesses favor as they can use the capital for several reasons. Businesses have long desired to be able to obtain financing without having the collateral, a high credit score and financial statements that reflect steady or increasing gross and net income that traditional sources demand. Now this financing is available. With expansion capital loans, businesses can obtain $5,000 to $250,000 within three weeks by providing only their most recent 6 months business bank account statements. In addition, businesses need only be in business for 9 months and credit scores as low as 500 and lower are approved.
Expansion Capital Loan Features:
- Based Purely of your monthly income NOT your Personal Credit.
- Flexible approval requirements, with scores of 500 and below accepted.
- Only 6 months in business minimum requirement.
- Total time to funding is approximately 4 weeks or less.
- Qualify using only the most recent 6 months business checking account statements.
- Difficult deals done routinely.
- Customers do not have to have collateral. The approval is based on the business cash flow.
Customers consider and use this product like a traditional business line of credit. This product can be used almost like a traditional business line of credit. Funds are wired into the customer’s account. The customer repays the line within 6 to 9 months and can reuse the line repeatedly. Similar to a line of credit, once the balance that was drawn is 60% paid down, another drawdown can be taken even before the line is fully paid down.
If a business requests $100,000 with a repayment term of 48 months, even if they receive a lower approval amount with this line of credit style product, they will be able to get more total funding for the same term than with the 48 month product. The credit style product is typically for 6 to 12 months and can be renewed at the end of the term. If the customer is approved for $50,000 for this product and renews every 6 months, they will have received $400,000 over a 48 month period. If the term is 12 months, they will receive $200,000 over the 48 month term, more than twice what they receive with the traditional loan product.
This business loan product is the easiest and most flexible business financing product on the market today. Businesses should take advantage of the one thing almost all businesses have, their sales. By using just their sales, your business can leverage sales into working capital.