Business Loan FAQ

It's frequently simpler to finance an existing company than to launch a new one.

You can use an SBA loan or a business purchase term loan to buy a business.

Business loan brokers can assist you in obtaining the best business loan offer, save you time, and provide industry knowledge. 

However, they are not required for all businesses. 

As a mediator between small businesses and multiple lenders, a business loan broker plays an integral role. 

The business loan broker employs industry knowledge, experience, and working contacts with lenders to discover business loan offers with the best terms and conditions and competitive interest rates after learning about your goals for your company and finances.

These experts can assist you in obtaining reduced financing rates and can save you time.

The conditions of repayment for your chosen loan product are as follows: loans for real estate up to 25-30 years, loans for equipment and working capital loans up to 10 years, and loans for accounts receivable up to 12 months.

Yes, you can finance the purchase of used construction equipment. 

Many lenders offer equipment financing options that cover both new and used machinery. 

These loans typically feature competitive rates and flexible repayment terms to fit your budget. 

By financing, you can preserve your cash flow and keep your operations running smoothly. 

Contact us to learn more about our financing options available to small business owners and how we can help you acquire the equipment you need.

It is rather costly to incorporate new medical technology or buy new medical equipment. 

For this reason, the majority of medical professionals look into medical equipment financing.

You may improve patient happiness and revenue by purchasing the equipment you need with the aid of a medical equipment loan. 

Finance for businesses and equipment can be approved in a day or two. After receiving the full loan application and initial required documents, real estate, SBA, and hybrid finance can be approved in as little as one week, and the funding process itself takes 45 to 90 days on average.

Yes, you can get a business loan to build a facility for your business. 

Many financial institutions offer commercial construction loans specifically designed for this purpose. 

These loans can cover the costs of land acquisition, construction, and even some of the equipment you might need. 

It's important to have a detailed business plan and financial projections to present to potential lenders. 

Additionally, securing a loan may require collateral and a good credit history

Yes, we can help you buy out a partner. 

We offer specialized business loans designed for partner buyouts as a part of small business financing programs, ensuring you have the necessary funds to complete the transaction smoothly. 

Our team will work with you to understand your financial situation and provide a tailored loan solution. 

With competitive rates and flexible terms, we aim to make the process as straightforward and stress-free as possible. 

Contact us to discuss your specific needs and how we can assist you.

In the gas station industry, a business bank loan can be a good fit based on your qualifications and the type of property. 

You can utilize the funds from both small business loans and commercial term loans for a number of things, such as buying a gas station or covering regular business expenses. 

Your company credit score, the strength of your finances, the loan terms, and the loan repayment schedule will all determine the kind of loan you are eligible for.

Despite the fact that cannabis business loans are typically harder to come by, an increasing number of lenders are starting to emerge that have figured out how to collaborate with and finance cannabis enterprises. 

However, you should exercise particular caution when researching and contrasting these business finance options because there are a lot of regulatory restrictions and murky areas in this field.

With rare exceptions, credit cards usually have higher interest rates than lines of credit.

The choice between a business credit card and a business line of credit depends on your specific needs. 

Business credit cards are great for managing everyday expenses, earning rewards, and building credit. 

They often have higher interest rates but offer convenience and flexibility. 

On the other hand, a business line of credit provides access to a larger amount of funds with typically lower interest rates and lower monthly payments, making it ideal for covering larger business expenses or managing cash flow. 

Assess your business needs to determine which option suits you best.

The paperwork needed will change based on the kind of funding.

For equipment financing under $150K (and sometimes up to $350K), the following are necessary:

1-page application for approval, and a few essential documents. 

Additional documentation, including a personal financial statement, bank statements, financials, and personal and business  tax returns, will be needed for SBA, business, and real estate financing.

Documentation requirements will vary by lender and transaction type. 

Yes, you can get financing for the investment real estate purchase of 1-4 family homes. 

Many lenders offer specialized business purpose loans for real estate investors, including options for purchasing single-family and multi-family properties. 

These loans often come with competitive rates and terms tailored to real estate investments. 

Make sure to have a solid investment plan and financial documentation ready when applying. 

Contact us to explore the financing options available to you.