Loan options For Small Business Owners

SBA and Bank Loans

Amount of Financing Available:

$5K - 5 Million

Typical Turnaround Time:

1-4 weeks

Required Personal Credit Score:

600+

Required Age of Business:

2 years+

Typical Use of Funds:

Working Capital, Expansion, and Real Estate

Relative Cost:

Lowest

Typical Time to Repay:

10 years

Collateral Needed?

Yes

Alternative Loans

Amount of Financing Available:

$2K - 500K

Typical Turnaround Time:

Less than 1 week

Required Personal Credit Score:

500+

Required Age of Business:

1 year +

Typical Use of Funds:

Working Capital and Expansion

Relative Cost:

Medium

Typical Time to Repay:

1 month - 5 years

Collateral Needed?

No

Equipment Loans and Leases

Amount of Financing Available:

$5K - 15 Million

Typical Turnaround Time:

1-2 weeks

Required Personal Credit Score:

500+

Required Age of Business:

Startups Ok

Typical Use of Funds:

Buying Equipment

Relative Cost:

Low

Typical Time to Repay:

1-7 years

Collateral Needed?

The equipment is the collateral

Invoice Financing

Amount of Financing Available:

$100K - 150K

Typical Turnaround Time:

1-3 business days

Required Personal Credit Score:

530+ (no credit check in some cases)

Required Age of Business:

Startups Ok

Typical Use of Funds:

Filing Cash Flow Gaps

Relative Cost:

Medium

Typical Time to Repay:

1 week-3 months

Collateral Needed?

No

Merchant Cash Advance

Amount of Financing Available:

$2K - 500K

Typical Turnaround Time:

3-5 business days

Required Personal Credit Score:

500+ (no credit check in some cases)

Required Age of Business:

Startups Ok

Typical Use of Funds:

Working Capital and Expansion

Relative Cost:

Highest

Typical Time to Repay:

4-12 months

Collateral Needed?

No

Alternative Loans

Amount of Financing Available:

As much as you have in retirement account

Typical Turnaround Time:

3-4 weeks

Required Personal Credit Score:

Not applicable

Required Age of Business:

Startups Ok

Typical Use of Funds:

Starting a Business or Buying an Existing Business

Relative Cost:

Medium

Typical Time to Repay:

Not applicable

Collateral Needed?

No

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