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Q. What defines a creditworthy company?A. Generally lenders want to ensure that you have been cashflow positive for two of the past three years. They will also look at the business and personal assets that can be used to collateralize the loan. Loans guaranteed by governmental agencies also will care about the impact that the financing will have on creating jobs and will therefore be somewhat less restrictive on their collateral requirements. If your company is a start-up and does not have a track record then lenders will look at your level of personal financial investment in the company and will take a close look at the assumptions inherent in your financial projections.
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Q. How long does it take to get a loan?A. How long does it take to get a loan? Traditionally it has taken anywhere from four weeks to six months to get approval for a business loan. The determinant of how long it will take has been how well organized and responsive you are to the lender's request for information and how familiar the lender is with the type of loan that you are requesting. Our Small Business Stimulus Package (tm) was designed to ensure that you have all the information that you need to quickly respond to the information requests of the lender. Our Loan Match (tm) system is designed to match your needs with a lender that regularly makes that type of loan. The Small Business Stimulus Package and the Loan Match system together maximize the likelihood that you will be at the lowend of the approval timeline.
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Q. Are there any types of loans that you don't do?A. The only types of loan that we generally don't process are speculative real estate loans. The real estate loans which works best with our system are loans where the business plans to occupy at least a portion of the building being purchased.
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Q. How large a loan can I get?A. Your net cashflow and collateral will determine the size of your loans. We are generally best able to serve businesses looking for up to $5 million in loans.
Industry Source Networks
The Business Profitability Network™
Potential Financing:
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SBA Loan $56,000
Small bus. equipt & Cap
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Loan $900,000
Owner occ. building
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Loan $150,000
Working capital
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SBA Loan $300,000
Acquisition hvy equipt
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Loan $600,000
Expand mfg capacity
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Loan $250,000
Working capital
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