The Best Ways to Utilize Easy Business Loans Business owners – let’s say you need additional funds for expansion, debt consolidation, or maybe better equipment financing. or maybe for better equipment. If you don’t have the working capital on hand then you need to apply for fast and Easy Business Loans or merchant cash advances. We understand how from one day to the next you may suddenly be dealt with unexpected situations that lead you to ask for a business loan.

Before you apply for your small business loan, get to know a few of the details. How is your personal credit and business credit and how does that impact your ability to secure financing? Does a bad credit score mean I’ll be paying higher loan rates with a personal guarantee? We can discuss with you the items affecting your credit including your personal credit score. These are things we can talk about and help you navigate the business finances’ landscape. Whether it’s securing business lines of credit from traditional lenders to bad credit loans from an online lender, we can talk to you about the loan option that is best for your business and cash flow.

Are business loans easy to get?

As you can see, on our website, it’s not difficult to apply for a capital loan. Others, however, may see it as a challenge, especially when it comes to the business loan amounts filed for, as well as preparing the documents that you need to submit.  This is especially true if you’re looking for a bank loan for business.

To be prepared, do your due diligence and get pre-qualified. This saves you from a lot of time and trouble. Plus it gives you an idea of your ability to secure that small business loan. It doesn’t have to be a frustrating and complicated process.

To get an easy small business loan do you need a business plan?

It’s good to have a business plan with you as you file for your small business loan. This is virtually mandatory if you are going to secure a loan from traditional lenders. If you’re using one of the top online alternative business lenders chances are it won’t be required.

At Sunwise Capital we do not ask for business plans or the 2 dozen plus other loan requirements and documents a bank loan for business will require as you go through the application process. All we require is a one-page loan application and the last 3 months of business bank statements. Depending on the loan amount we may require a few financial statements like a current P&L and Balance Sheet with the 1st page only of the last business tax return filed. We can even help you if you don’t have some of these documents. Most of the additional requirements are based on your annual revenue and the amount of funds requested.

One frequent question we receive is “Does this loan require collateral?”

No! In fact, most of our loans are unsecured which means you do not need to post assets or collateral like your home and vehicles. These loans are not based on your homes value. These are business loans and not a personal loan.

The business loan amount won’t affect your approval

You may have heard that apply for a large business loan may hinder your chances of approval – it’s not true. It’s okay to request a large dollar amount on your business loan. A good rule of thumb is to request approximately 10% of your annual revenue.  However,  your business loan can be approved for as much as 20% of that revenue.  If you have enough free cash flow to make your small business loan payment, then you’re good. At Sunwise Capital we offer from $10,000 to $2M loans term between 6 months to five years.

The basic requirements are at least one year in business, annual revenue at least $150,000, provide us with the last 3 months of your business checking account or business saving account statements. Get our online application completed and we can approve you within 24 hours and fund your business in the next 24 to 48 hours.

Another rule of thumb when applying for an easy small business loan is to get approved for the largest amount you qualify for.  That way you can really determine what you need both now and in the near-term future.  Many small business lenders will allow you to re-borrow when approximately 50% of your small business loan is repaid. We try to extend to all of our clients more money, better rates and better terms when they reapply for their business loan.

Here are just a few factors to consider.  How much money do you need for business growth, and how much can you afford to repay either daily, weekly or monthly?  The latter is determined by the lender.  The last thing the small business lender wants to do is put you in a position where your cash flow is squeezed.  The idea of the small business loan is to make your life easier.  Not constricting your cash flow and putting pressure on your profits.

If you have a hard time making your current payments on time, then you will find it even more difficult to obtain an additional small business loan. However, one of the big differences between a lender like Sunwise Capital and a traditional bank or lending institution is that Sunwise Capital is much more forgiving.  They know life happens.  So, whether it’s less than perfect credit, a few bounced checks or NSF’s a month – no worries. Our loans are structured to help you manage your cash flow so as a result the payments may be daily payments, weekly payments or even monthly payments.

Caveat Emptor.  Do yourself a favor and pay off one business loan before taking another.  We know the temptation to secure additional business loans and know too well that there are other business lenders who will be more than happy to get you into a much more expensive business loan.  Honestly some don’t care if they choke you or your cash flow.

What are you Waiting For?

Interested in applying for a small business loan? Do you have some concerns?  Don’t worry—we’re here to help you out and assist you. Just call us at 888.456.9223 and tell us your concerns so we can address them based on your personal circumstances.

Success stories – Chicago, Il.

Windy City Auto Repair. This Chicago auto repair company just secured an SBA loan to secure additional real estate for his expanding business. His goal was to secure a line of credit while he is re-cooping from the cost of the new building. He is looking for $25K to $40K. The concern is that the SBA loan will interfere with their ability to secure additional financing. We explain to the business owner that it’s not an issue. In fact, we approve the auto repair company for $77,754.00. A win-win for the windy city.

Eight Bar and Restaurant. – Restaurant and home are in the same building – different floors. He’s looking to remodel now. Needs $50K and will increase revenue 25 – 30%. Credit 630. Said he has friends who can lend him the money. We stressed that building a relationship with a lender like Sunwise Capital means more money, better rates and better terms as the relationship grows. Client is approved for $45,000 and has re-borrowed several more time.

Still undecided? Fill out our pre-qualification form. You will only be answering basic questions, and you’ll get a response almost immediately.

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or Call 888.456.9223

Take Your Business Further With A Loan From Sunwise Capital