A startup business loan is any type of financing available to businesses with little to no history. There are other loans that finance small businesses, however, some loans are more difficult for new small business owners to acquire than others. Some examples of Start Up Business loans include: SBA microloans, asset-based loans, business credit cards, and more.
Loan Details
Max. Loan Amount
$5k to $500,000+
Loan Term
1-10 years
Interest Rates
8%-13%
Speed of Funding
48-72 hours
Loan Requirements
Annual Revenue
$100,000+
Credit Score
600
Time in Business
1 year
Pros
- Can help you build business credit
- Protects your personal wealth from becoming a liability
- Funds yours business so you can begin generating revenue
Cons
- The requirements needed to get approved by banks for loans are often not met by new business owners
- Loans can restrict the cash flow from the loan itself
- Collateral as a liability
1
Prequalify Online
Follow steps and enter basic information
2
Online Approval
After online approval, a consultant will reach out to discuss loan options.
3
Receive Secure Funding
Funds will be directly deposited into your bank account and available for immediate use.
Best Use of a Business Loan
- Human capital
- Cash flow gaps
- Pursing unexpeced business opportunities
- Investments
- Covering seasonal shifts in revenue
- Larger purchases
Best Use of a Business Loan
- Human capital
- Cash flow gaps
- Pursing unexpeced business opportunities
- Investments
- Covering seasonal shifts in revenue
- Larger purchases