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Applying for Business Loans Easy 

Business owners – let’s say you need additional funds for expansion, debt consolidation, or maybe better equipment financing. If you don’t have the cash or working capital on hand then you have a few options.

First, you must decide if you need a high risk business loan. The high risk business loans are usually reserved for those that have a damaged personal credit score or business credit. That means no traditional bank loan.

Maybe you don’t have bad credit but you want an unsecured business loan, microloan, or a short term loan. That also knocks off the ability to use a traditional lender like the bank or credit union. These institutions only offer a secured business loan.

What you need is the ability to apply for business funding online. You need it to be easy and quick. As a small business owner, you need an alternative lender that can give you the financing options to grow your business.

These financing options include the business cash advance (otherwise known as the merchant cash advance or cash advance, invoice factoring (or invoice financing) to a simple equipment loan.

We understand how from one day to the next you may suddenly be dealt with unexpected situations that lead you to ask for cash.

Before you apply for your business loan, get to know a few of the details. How is your personal credit and business credit score and how does that impact your ability to secure financing options?

Does a bad credit score mean I’ll be paying a higher loan interest rate with an onerous personal guarantee?

Sunwise Capital 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 options that are best for your business and cash flow.

Are business loans easy to get?

If you’re looking for a bank loan for your company, it can be a challenge, especially when it comes to the dollar loan amount as well as preparing the documents that you need to submit for approval. To be prepared, do your due diligence and get pre-qualified. This saves you a lot of time and trouble. Plus it gives you an idea of your ability to secure that business financing. 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 loan. This is virtually mandatory if you are going to secure business funding 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 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 statements.

Depending on the dollar amount we may require a few financial statements like a current P&L and Balance Sheet or 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 the value of your home. These are business loans and not a personal loan. We can offer a secured loan which will frequently come with a better term and dollar amount.

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 loan term between 6 months to five years.

The basic requirements are at least one year in business, annual revenue of 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 a 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. – The 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. The client is approved for $45,000 and has re-borrowed several more times.

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

Keywords: Business Loans, working capital, small business loan, bank loan for business, small business loan payment, business bank loan, Easy Business

or Call 888.456.9223

Take Your Business Further With A Loan From Sunwise Capital