Short Term Loan

Traditional Business Loan and line of   credit
  • 620 or above personal credit score
  • Have a separate business bank account and separate business address
  • You have been open for business for over 1 year and process at least $5,000 in credit card transactions per month
  • If your company does not accept credit cards you should have been open for business for at least 2 years and have an average business bank account balance of at least $5,000 per month
  • Amount = $5,000-$100,000
  • Type : Unsecured loan
  • 700 and up personal credit score
  • Business should open at least 3 years
  • Unsecured up to $100K
  • Previous tax return shown profit and business must provide income statement
  • Amount : $10K-$250K
  • Type : Unsecured loan or LOC
  • Turn around time  approximately 3 weeks


                                

       

Franchise Restaurant Loan
  • 600 or above personal credit score
  • Business should open at least 6 months
  • Business must accept credit card at least $5,000/month
  • Amount = $100,000

Traditional Restaurant Loan

Merchant Cash Advance
  • Typically higher funding amounts than advance companies (usually around 50% more=more commision for you
  • Up to $150K funding before financials are required
  • Up to $500K per organization
  • ACH Repayment (no switching processing, no delays in processing)
  • Better rates for high end customers (18 month 1.45 program or 12 months 1.30 program for qualified merchants)
  • It is a loan product so the interest is tax deductible
  • Restaurant/Bar/Nightclub/Salons/Lodging/Catering
  • In business 1 month or greater
  • Credit score above 550
  • Monthly bank deposits $20,000 or greater
  • Current business rent
  • Current home mortgage (if they own a home)
  • No current bankruptcy
  • 500 or above personal credit score
  • Business should open at 6 months
  • Business Must accept credit card with at least $3,000/month
  • Amount = $250,000

SBA Loan
  • 680 or above personal credit score
  • Business should open at least 2 years
  • Must be able to provide collateral
  • Provide business plan, Income statement and P/L and business tax return
  • Amount = $350,000