Loan Options for your Business
Stimulate significant progress for your enterprise by acquiring affordable yet straightforward Business funding. Fixed repayments made regularly every month, no charges for early prepayment. Great towards a substantial one-time expense.
Your company needs to be two years in existence at a minimum with yearly earnings of $75,000 and no fresh bankruptcies or tax liens to qualify. You must be 18 years old or older and a U.S. citizen who is an owner of a minimum of 20% of the company. Though there’s no required credit rating, lenders do prefer that at least one of the owners has a rating of 620 or higher on their credit profile. Additional conditions include having personal guarantees. If you would like to obtain more than $100,000 in funding, collateral is a scenario you can expect. You may still get approval even without a 620+ credit rating as long as the business you own is financially healthy and has the right amount of sales. Initially sending more installments and you repay your loan early, you may end up saving significant money on interest costs since moneylenders don’t charge penalties for prepayment.
Knowledge is power
Being well informed will also allow you to avoid any surprises when it comes time to close on the business loan.
Fuel for Your Business Growth
Every business needs financial resources to grow and operate a successful company. CreditLief’s network of funding partners can assist in getting funds needed while providing the ability to take the terms that fit your needs along with the lowest possible rates. We will connect you with lending partners that match your business’s financial needs. You’ll also be able to compare their prices and terms. We recommend you request further information on the interest rates and loan terms along with asking about any fees lenders may charge including any penalties you may face if you make a late payment. You need to do your research before the closing process to ensure that you’re receiving the most cost-efficient terms.
Add fuel to the fire of growth with a business loan via CreditLief.