Frequently Asked Questions
The common questions, answered.
Frequently Asked Questions
Borrowing limits are based on many factors, including the age of the business, industry, available collateral, the business’s credit profile and financial statements. We have proven expertise in assisting our clients in maximizing available debt facilities of all types. Contact us for more information.
It’s easy to get started. Simply fill out our online application, and we will work with you to streamline the process.
Depending on the amount being applied for, the documentation can be as simple as a credit application. Other required documents may include: bank statements, financial statements, financial projections and other information about your business and yourself.
There are different rates for different types of financing, and different rates based on the strength of the borrower. Our mandate is to secure the best possible rates and terms for our clients. Contact us for more information.
The complete process from application to documentation to funding can be as fast as 48 to 72 hours for smaller transactions. Large complicated financings will obviously take longer.
Equipment Leases can be for terms as long as 84 months. Term Loans can for terms of up to 10 years. Revolving Lines of Credit, Account Receivables Lines and Factoring Lines are typically set up on an annual, renewable basis.
For strong, established companies with at least 3 years’ time in business, personal guarantees are not automatically required. For new businesses, or businesses less than three years’ time in business, personal guarantees may be required. For established businesses with weaker credit profiles, personal guarantees can often mean the difference between an approval or a decline.
Most business loans require collateral. Collateral can include: accounts receivable, inventory, machinery and equipment, land and buildings, and/or a general security agreement.
The fastest way to build a commercial credit rating is to acquire a credit card under your company name. The credit card companies all report on a monthly basis to the credit bureau. We currently offer an excellent commercial credit card from American Express. Click here for more information.
This will depend on the type of financing required (ex Equipment Leasing vs Working Capital loan) and the amount being applied for. Contact us to let us know what type and the amount of financing you require and we will provide you with guidance.
No. We can provide financing to businesses that are Proprietorships, Partnerships, Corporations, LLCs, LLPs, and legal joint ventures.
We can arrange various types of financing for new businesses. Contact us for more information.