Commercial Loans are the best solutions for debt management and business growth
Commercial funding is the long-term loan that a business owner can use for various purposes like hiring staff, buying any equipment, or a commercial asset. They cannot be used for any personal purpose and must be used for business use or commercial investment purpose. Most business owners apply for commercial funds to grow their business, invest in a property, purchase new assets, or consolidate any debt. Commercial funding is perfect for:
- Individual traders
- Public and private limited companies
How to get approval for commercial funding?
You can apply for commercial funding with us ranging between 10000 to 250000 dollars within the loan terms of 6 months to 2 years. If all your documents are correct, we will approve your funds to your account within two business days. It means this funding option will allow the business owner to spend much less time arranging the required finance and can concentrate on other vital company operations.
To be eligible for a commercial loan, your company should have at least 100000 dollar turnover yearly, have no bankruptcy record before, and should have a minimum 500 credit score. Our company can arranging funding offers with weekly, yearly, or monthly repayment alternatives to the borrowers.
How can you use the funding from commercial finance?
Always have a plan for how to use the commercial funds. This type of loan intends to improve and expand a company while creating a valuable impact on the ultimate profit. It is now time to look into the most common scenarios below where a business owner might need commercial funding.
Whether you want to lease a larger commercial space compared to the one you have right now or add a luxurious reception area, expansion can always help grab golden opportunities for business growth. Keeping the technologies updated and buying new stock is another aspect of business expansion. This growth will lead to attracting more customers and ultimately create more profits. However, these changes can require a capital injection which may not have been factored in. So, applying for a commercial loan will help you access easy cash flow to take your business to the next level.
Issues Related To Maintenance
Business owners also need to solve the maintenance issues in the company premises. Equipment repairing, drainage maintenance, electrical issues, and more which requires additional capital, which you might not have accounted for. You might not have time to wait for traditional bank processing and might need the money urgently. Thus getting commercial funds from the private lender is the best alternative.
Sometimes hiring new staff often becomes essential for the growth purpose. From additional salaries to training, it can be an additional burden to you if you have not planned for it. Thus before expanding your staff, you should have adequate capital for covering the extra cost.
Eligibility Criteria required to apply for a commercial loan
To get approval for the commercial funding, some lenders have the following eligibility criteria.
- The business should have a minimum annual turnover of 100000 dollars
- Should have a minimum of three months of business bank statement
- The business owner should have a minimum 500 credit score
- The company should be operating in the industry for at least one year
- There should be no history of bankruptcy
Benefits of applying for a commercial loan?
Commercial funding offers the following benefits to the borrower.
To make an additional repayment
The borrower can make extra repayment on the variable interest rate on commercial funding whenever the company budget allows, or it is booming.
Pay the interest-only
You can apply for the loan with the condition of paying the interest rate only. This assists with cash flow management.
Paying the funds early
You will not be bound with the variable interest rate alternative. The borrower can pay the loan whenever it suits them, with low or no repayment fees.
No additional fee
There will be no ongoing additional fee, only the upfront establishment cost. You will also get an option for fixing the interest rates.
So get in touch with our team if you are in urgent need of commercial funds.