What is a Business Loan?
Business loans & lines of credit are some of the best funding options for businesses. LendingCapital provides various options, including merchant cash advances, line of credit, term loans, equipment financing, mortgages, and working capital loans. Each loan has unique qualification requirements, terms & conditions, and interest rates based on your type of business and credit rating.
What type of business loan is best?
To choose the best business loan, it is important to know what are the types of business loans and their benefits. Here are some of the best types of business loans:
- Term loans: In this type of loan, you get a sum of money that you are needed to pay back in installments over a set time. Short-term loans are to be repaid in less than a year, whereas, long-term loans’ repayment terms cover several years.
- Line of Credit: Line of Credit offers easy access to capital, and you do not have to specify the reason to use money as you are not bound by certain rules. This type of loan can be either secured or unsecured. The rate of interest and amount to borrow is decided by the lender.
- Merchant Cash Advance: It is an advance that business owners borrow against future income. The benefit of this type of business loan is that when business is slow, you pay back less, and when business is prospering, you pay back more.
- Equipment financing: This type of loan is helpful for business owners who want to procure or lease business equipment, machinery, or vehicles. It is easily available to established and new businesses, and also businesses with lower credit scores can qualify.
- We offer both secured & unsecured business loans
- 100% Online: Our application process is 100% online, thus making it easy to apply anywhere andin some cases provide same-day approval and quick funding.
- No Hidden Costs: We promise zero hidden costs and charges.
- Dedicated Business Advisors: Our team of dedicated business advisors provides the businesses with access to the capital they require to continue to grow.
- Flexible Repayments: We offer monthly, weelkly, and bi-weekly paymenbt plans.
How to Apply at LendingCapital?
- Check your offer: We can provideoffers in as litlle as 60 seconds, you can accept or reject with no cost or obligation on any offers extented.
- Apply easily:You can apply 24/7 online additional information may be required regarding your potential business loan.
- Get funded: After you review and accept your loan terms, we can provide funding in as little1 to 5 working business days.
How does it work?
- Apply: Simply apply quickly & securley onlineon our website.
- Review:We will review your application and we will get back to you in 24 hours or less.
- Receive: Once your approved & you accept the offer we can fund in as little as 2-5 working days.
Eligibility Criteria at Lending Capital
- An established business in function with more than 6 months
- Business checking account
- No: bankruptcies, liens, tax liens, foreclosures, defaults on other loans
- Most buisnesses we will consider including cannabis.
Documents Required at Lending Capital
- A business plan
- Income tax returns for at least 2 years, financial statement
- All 3 crdit bureau reports (FICO Scores)
- Minimum 6 months of business bank account statements
- Value of personal/business property that can be used to secure a loan
- Legal documents like leases, licenses, articles of incorporation, and agreements/contracts
Benefits of Business Loan by LendingCapital
- Quick Approval: Quick approval means faster funding for your business.
- Maintaining your ownership: We offer unsecured, secured both short and long term loans, lines of credit, equipment leasing & commercial mortgages.
- Increase your window of opportunity: Our goal is to provide you withworkimng capital, credit lines, both short and long term foryour business cash flow and growth.