FTBPG

Business Financing

Business Financing Options

 
 
 

Merchant Cash Advance 

A cash advance is a solid option for business owners in need of fast access to capital to help grow their business. A newer or existing business might run into an opportunity or an unfortunate situation – these financing options allow you to borrow against future earnings and get funded immediately.

Basic loan criteria:

  • Term: 3 months +++, longer terms available
  • Loan Amount: $5k to $250k
  • Rates: starting at 10% +++
  • FICO: None 
  • Payback: Daily, Weekly, or Monthly

Business Line of Credit 

Business lines of credit are often times the best type of financing if you have a credit score of 650 or higher. The credit line gives you capital to draw upon to meet a variety of business needs. It’s a fixed amount that you can exercise anytime to meet a current cash flow gap.

The advantage of a business line of credit is that generally you are not required to use the funds until needed and you are only charged interest when it is used and as you pay the line down you also eliminate the interest charged. Many of our lines of credit have an introductory rate promo of 0% up to me 18 months 

Basic loan criteria:

  • Term: 12 months to revolving 
  • Loan Amount: $5k to $500k
  • Rates: starting at 0% to 24.99%
  • FICO: 650
  • Payback: Monthly

Business Credit Cards 

Business Credit Cards can be used for pretty much any business expense you come across. From big one-time purchases, to regular small expenses, a business credit card is a great way to get financing when your company’s cash flow doesn’t have enough room to provide for your business needs. Our clients that are building business credit profiles are ideal candidates for this solution

Basic loan criteria:

Term: Revolving
Loan Amount: $5k to $50k
Rates: starting at 0% to 29.99%
FICO: 680
Payback: Monthly


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Equipment Financing  

As opposed to asking for capital outright, equipment loans are more secure than others, and lenders are sometimes more willing to work with you. This type of financing can also help you get the new equipment for your business right away.

Business equipment loans help business owners acquire equipment that would normally be too expensive to buy with cash. This is a great way for companies that want to grow their revenues with a certain tool or piece of machinery.

Basic loan criteria:

Term: up to 60 months
Loan Amount: $5k to $5M
Rates: starting at 6.0%
FICO: None
Payback: Monthly


SBA Loans 

The U.S. Small Business Administration (SBA) is a federal agency that supports small business development and growth. This agency does not actually provide the loans. It establishes the guidelines for all SBA loans and then guarantees a portion of the loan, (in the case of default) which diminishes the risk for its lending partners.

Basic loan criteria:

Term: up to 25 years
Loan Amount: $35k to $5M
Rates: Prime
FICO: 680
Payback: Monthly