We Really do fund the impossible! My fellow LinkedIn members, let us help each other and make money together. Capital is very difficult for many types of businesses to access in today's market. If you help your customers or prospects solve this problem, they will have more money available to spend with you! Who do you think they will choose to do business with? One of your many competitors or You, because you solved their financial problem?
Here is the scenario many of your friends, customers and clients are facing today! They needed Capital to pay taxes, payroll, fund a promotion, open a new location, purchase equipment or inventory, pay vendors or consolidate their debt and are having difficulty finding a source of funding with reasonable terms?
They mention it to you during the course of your next conversation with them because when they asked you, how's it going? You replied great. Business is good and now you have some fantastic new services that are really helping people solve their financial problems. A discussion the ensues where they tell you about their difficulties in finding capital to grow or sustain their business or practices!
You referred them to http://www.wefinanceamerica.com. Big Yianni personally takes care of them and gets them the funding they need at terms that they can afford. He solves their problem and then when they thank him, He makes sure they remember that it was you who brought me to them!
You are now their hero! You will stand out from others who want to take this account or customer from you. Nobody that I can find has the number of lending partners that we enjoy. Commercial, Mulit-Family, Rehab, New business Acquisitions, Franchise loans, Start-up funding and dozens of secured and unsecured loans, even several SBA backed programs through our network of over 100 Federally insured banks. Yes, we can accommodate even "A" paper borrowers. Even those that have been turned down from their own banks who offer SBA loans, we can usually help.
So, the next time you are asking yourself, how can I increase my income by 10, 20, 30% or more without a lot of effort? Contact us and let me show you how easy it is by simply asking one question of your friends, contacts, prospects and even relatives who own businesses, invest in real estate or are professionals; Do they need some Capital to help them grow their business or get through a rough patch?
They Answer yes, but nobody will loan me the money! You tell them, I think I know someone who can help you. Now let me work my magic, get them the money they need, solidify your relationship with them and make you some money on top of it all!
I don't just pay a one time commission, it is forever. 65% of my borrowers, renew their loans or apply for additional funding. Each time this happens, you get paid. It does not get any better and all of this took just a few extra questions and maybe ten to fifteen minutes!
Contact us today and get signed up, then Put this number in your Phone, 424-274-1949 and GET PAID!
I thought it was time to address this important Question! The misconception is that the Small Business Administration Guaranteed Loans are underwritten by every Bank or Government Insured lender the same way? It sounds reasonable right? WRONG!
Lets Start with the Basics about SBA Loans:
An SBA loan is a government-guaranteed small business loan that has a long-term and low-interest rates. The Small Business Administration (SBA) is the government agency that partially guarantees SBA loans and was founded in 1953 to support small business owners across the United States.
The most common misunderstanding about these loans is that the agency lends money directly to small businesses. However, the agency does not make direct loans. The SBA provides a guarantee on the loan, promising to reimburse the bank for a certain percentage of your loan if you default on that loan.
This guarantee lowers the risks to banks and other lenders, encouraging them to offer these loans to more American small businesses. Many banks and other financial institutions offer SBA loans, but their process, requirements and fees can vary.
Requirements to Apply for an SBA Loan SBA loans are for financially healthy borrowers. Most businesses can qualify for these loans if they’ve operated for at least two years with good credit, have no recent bankruptcies or foreclosures, and have cash flow that is sufficient to make the monthly payments throughout the life of the loan. The actual approval requirements will depend on the on the individual lender and factors such as your business revenue, cash flow and credit scores.
Once a business owner understands that it was actually his or her bank that turned them down for their SBA loan and NOT the Government Agency itself, it really gets confusing? That is Where We Finance America and our partnership with the largest SBA fulfillment Company in the United States comes in.
Our SBA Lending Fulfillment Partner knew there had to be a better way. A better way meant enabling banks to efficiently fund great businesses by using technology and good old American ingenuity. They knew they could could reduce the high-cost APRs that many Small to Medium Sized Businesses are paying for their Conventional Business Loans or the out of control rates/factors that they are paying on their short term Merchant Cash Advances by combining the BEST Small Business Loan Products such as those offered through the SBA with the right technology.
The Number one reason Our Partner built their own proprietary SBA Loan platform with advanced technology and underwriting to streamline the old cumbersome SBA application process was to make it easier and more cost effective for banks to provide SBA loans to small businesses. The result is that innovative banks are able to offer one of the best small business credit products (SBA loans) to their new customers and businesses are given fast access with higher approval rates to the low-cost funds they need to grow and flourish.
The eligibility requirements for an SBA loan of up to $350,000 are:
The eligibility requirements for an SBA commercial real estate loan above $350,000 are:
If you meet the requirements above, you’re a good candidate to apply for an SBA loan.
What if MY Bank Has Already Turned Me Down for an SBA Loan in the past?
No Worries! We can probably get you qualified if you meet all the other requirements aforementioned. Remember we work with many SBA Lenders not just one.
Q: Why is this loan the BEST one for your business if you can qualify?A: Low interest rates and repayment Terms of 10 to 25 years! Plain and Simple!Reality Check!Most business owners, in fact the vast majority I have Met cannot qualify for these SBA loans due to many factors and some of them through no fault of their own, so what can they do?That is why we have so many private funded alternative loans included in out portfolio and showcased on our website at wefinanceamerica.com
Ultimately if you need capital for your business for any legal reason, we can help you! In many cases, our clients take out one of our private loans until we can position them to qualify for a much lower cost SBA loan in the future. Keep in mind that we do offer privately financed loans with single digit interest rates to qualified borrowers with repayment terms up to ten years, so contact us today and lets get you pre-qualified for the funds you need to grow your business, meet payroll, take advantage of an opportunity or whatever other reason you may need an infusion of Capital for.
The BEST News is you don't have to SHOP around on the internet anymore because with a Dozen plus different loan products, we are the "ONE Stop Business Funding Shop"
Richard Harroch, Contributor
Write I write about startups, venture capital, mergers and acquisitions and Internet companies. I am a Managing Director and Global Head of M&A for VantagePoint Capital Partners, a large venture capital fund in the San Francisco area. My focus as a venture capitalist is on investing in Internet and Digital Media companies. I am the author of several books on startups and entrepreneurship. I am also the founder or co-founder of several Internet companies, having sold them to NBC Interactive, LexisNexis and D&B. I am the co-author of Poker for Dummies and a Wall Street Journal bestselling book on small businesses. I was also a corporate partner at the law firm of Orrick, Herrington & Sutcliffe, with experience in startups, mergers and acquisitions, strategic alliances, and venture capital.something about yourself. No need to be fancy, just an overview.
Small business loans are available from a large number of traditional and alternative lenders. Small business loans can help your business grow, fund new research and development, help you expand into new territories, enhance sales and marketing efforts, allow you to hire new people, and much more.
This article sets forth 10 key steps to take in getting a small business loan, with some practical advice and insight on the lending process.
1. Understand the Different Types of Small Business Loans Available, There are multiple types of small business loans available. The options vary depending on your business needs, the length of the loan, and the specific terms of the loan. Here are a number of small business loan choices:
Lenders ultimately make a judgement call on whether or not to make a small business loan based on the borrower’s credit and risk profile. Lenders will look at the following factors, so review them carefully and consider taking any appropriate remedial action:
Depending on the size of your loan, your financial statements and accounting records will be reviewed carefully by the lender. So make sure they are complete, correct, and thorough—including balance sheet, income and loss statements, and cash flow statements. The lender will analyze your cash flow, gross margin, debt-to-equity ratio, accounts payable, accounts receivable, EBITDA, and more, so be prepared to answer questions on those topics. Consider having your accountant look over your financial statements to anticipate issues a lender may raise.
Lenders prefer financial statements that have been audited by a certified public accountant (CPA). But many small businesses don’t want to incur the costs of an audit, so one alternative is to have the financial statements “reviewed” by a CPA (which is cheaper and faster). However, some lenders may not require either audited or reviewed statements.
5. Gather Detailed Information for Your Small Business Loan Application
If you want to be successful in getting a small business loan, you have to be prepared to provide detailed information and documents about your business. It is important to be prepared and organized. Here is the type of information that is often required, depending on the type of loan:
The lender will want to know how much funding you are seeking and how the loan proceeds will be used. Will the loan be for equipment or capital expenditures? Expansion or hiring? Increase in inventory? Enhanced sales and marketing efforts? New research and development of technology? New product development? Expansion into new facilities or territories?
You may want to borrow a little extra in case you run into a cash crunch that lasts a month or two. You have to avoid going into default under the loan.
7. Determine What Security or Guarantee Can Be Provided
A lender is primarily concerned about the ability of the borrower to repay the loan. To the extent that a security interest can be given to the lender on company assets (company equipment, property, accounts receivable, etc.), the borrower should be able to increase its chances of getting a loan on favorable terms. Some lenders may insist upon the personal guarantee of the principal owner of the business. That is best avoided if possible as it puts the owner’s personal assets, and not just the business assets, at risk.
8. Analyze the Key Terms of the Proposed Business Loan
To make sure the proposed business loan makes sense for your business, you will need to analyze the key terms proposed by a lender and compare them with terms available from alternative lenders. Here are the key terms to review:
A small business lender will perform due diligence, which can include reviewing the information available online about the business and its principal owner. So do the following review, anticipating such due diligence to see if you should make any changes or deletions to your online presence:
The more educated you are about small business lending options and procedures, the more likely you will be successful in obtaining a loan.
Small business loans are available from many different lenders with a myriad of choices tailored to the financial situation of your business. By anticipating what these lenders will review and require, you greatly increase your chances of obtaining a beneficial small business loan.
Copyright © by Richard D. Harroch. All Rights Reserved.
I'm often asked why would a business opt for an advance against their total monthly bank deposits instead of getting an unsecured loan which may have a lower cost of funds?
Here are just a few scenarios where our Commercial Cash Advance is sometimes the right answer for SMB's vs. more traditional business loans: