Archive for the ‘Small Business Loans’ Category

13 Questions You should Be Ready to Answer When Applying for Equipment Financing

Whenever a business owner is looking to purchase equipment, whether it’s a dump truck or software, they’re always looking to get the best deal. Be in a position to sell yourself, it will help you get the better deal. Here are some questions you should be prepared to answer about your company in a positive light.

  1. What exactly do you do? This will help your Loan Officer get the best pricing and terms. If he or she is a pro, they will properly summarize the loan in a positive light before submitting it into underwriting.
  2. What kind of equipment do you want to buy? New or used and if it’s used, what has been your experience with buying used in the past?
  3. How will this equipment affect your business? The underwriter will sometimes want to know what sort of impact the equipment will have on your business. This is a good thing. The underwriter wants to know because the lender wants to know that it will help the business.
  4. Why do you need the equipment? What are you solving for?
  5. Do you have a timeline? When do you need it on site and operational?
  6. How do you acquire new business?
  7. Have you ever financed any equipment in the past? If so, with whom? How much did you borrower? How many times? What were the terms and anything you liked or disliked about the experience?
  8. Do you know where you are purchasing the equipment from? Have you already contacted the vendor? Have you purchased from this vendor in the past? If so, when, how many times and if not, where do you learn of the vendor?
  9. Does the vendor work off of a purchase order? If not, why?
  10. Does the vendor have any special requests or needs?
  11. Are you shopping around with other lenders? If so, who’s in the lead and why?
  12. What are the best times to reach you?-
  13. Do you need any working capital too?

You might want to summarize this information into a couple paragraphs before calling 858-222-7534

Get Prequalified – No Credit Check

Unconventional Loans – Small Business Loan

Here’s a great example of what a Small Business Loan is for:

A Heating and Air-conditioning company out of Greenacres Florida needed operating capital to pay off some bills including their vendor’s as well as some tools for the new truck they just bought for an additional crew.

My clients have a wholesale direct account with their vendors for material and supplies, but because they’re maxed out with over-due balances, they’re unable to get the wholesale price supplies they need for a job that they already have on the books.

Plus they’re missing out on new business because they currently aren’t in a position to competitively bid jobs because without available credit with their primary vendors, they can’t get the reduced cost that they need to be competitive.

Their $15,000 loan will fund tomorrow. Starting next week: 1. They will have new tools to get their additional crew working. 2. They will be able to start their new job. 3. They will have their vendor wholesale account relationship back in order putting them in a position to get aggressive on 10 bids they’ve done these last 2 weeks that they didn’t get.

Unconventional Loans – Working Capital Loan California

Hello small to medium size business owner.

This is a recent example of a small business loan we did here in California.

A dentist in San Jose had recently invested over $200,000 in a second location that was to be ran by his brother and fellow dentist and was in need of some working capital. The facility was up and functional but it wasn’t doing any business yet and needed to be advertised. We qualified him on the cash-flow of his existing practice. His gross annual income was $1,522,347. We were able to lend him $142,342 which is 9.35% of his income keeping him in a healthy cash-flow position to help him jump start his second location. His business expansion is doing very well and he was kind enough to give me a free root canal. True story.

Please let us know how we can help you expand your business. All you need to submit with your application is your most recent 6 months bank statements and previous tax return. If you haven’t filed your 2012 taxes yet, no problem, just send in 2011 tax return with your 2012 extension form and we’ll have your approval in 24-48 hours. From that point were just 3-5 business days to funding and the funding conditions are very minimal.

Thank you. Team


Unconventional Loans – Micro Business Loan

Our most popular business loan program is the Micro Business Loan; unsecured, short-term financing. This unconventional business loan features a fixed term with a fixed payment with loan amounts between $10,000 to $200,000.

It is called a micro business loan for 2 reasons. – It is short-term financing, ranging between 4-18 months, sometimes up to 24 months and the second reason is because of the payment structure. The payments are spread out into daily micro payments, Monday through Friday, no weekends or holidays or 22 business days (on average) a month.

This loan product is designed to be a low-impact loan and represents about 85% of the business loans that we do.

The qualifying process is very simple and straight forward. The loan amount and the payment can’t exceed between 8-9% of your cash-flow keeping the small to medium size business in a positive cash-flow position.

Our goal, simply stated, is to lend the capital your business needs to help grow the business and at the same time keep your business in a healthy cash-flow position so you can maintain the daily operations while easily paying back the loan while you utilize the capital in any way you see fit. The loan is designed to mirror your cash-flow in that you’ll retain no less than about 91-92% of your income or cash-flow not including the payment. 8-9% of your daily revenue goes to the payment and 91-92% goes toward daily operations so you can maintain the business through out the term of the loan.

Our Business Loan affiliate is located in San Diego California and has been in business for over 6 years and has maintained an A rating with the Better Business Bureau.

Broker Team