Business Funding Programs

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Business FundingHaving an awesome thought for a service or product is one and only strides in the long street to making a fruitful business. To do that, one key thing is vital: cash! Business visionaries today require cash to transform thoughts into reality. Some are honored to have cash: reserve funds, retirement accounts, speculation portfolios, or family cash.

Others are not so blessed; but rather in today’s money related business sector there are approaches to finance new business wanders that are changing the world. We at E-Fix Credit are specialists in Business Credit and funds and are willing to help our customers discover, investigate and exploit every single accessible alternative so as to seek after their fantasy of owning their own particular business.

 

BUSINESS FUNDING PROGRAMS:

 

REVENUE BASED FINANCE
TO QUALIFY:

• – The business owner has at least a 520 personal credit score
• – At least $150,000 in business gross revenue per year
• – At least 10 deposit transactions per month
• – Acceptable industry type
• – In business for 1 year
• – The business able to provide 6 months merchant or bank statements
• – Lease or own business location

TERMS:

• $5,000-$1 million
• 3-18 Month Term
• 1.10-1.45%
• Lenders typically approve 10% of annual gross revenue.

 

 

ACCOUNT RECEIVABLES/PURCHASE ORDER FINANCE

TO QUALIFY:

• – Business to Business Invoices
• – Creditor underwrites the credit-worthiness of the businesses you invoice

PRIVATE EQUITY FINANCE

TO QUALIFY:

• – At least 2 years in business
• – At least 20% down payment
• – The business owner with at least a 650 personal credit score
• – The business owner without recent bankruptcy
• – Business can offer 2 years tax return, balance sheet & debt schedule
• – Business Plan

TERMS:

• $150,000-$100 million
• 12-30 Year Term
• 8-18%

EQUIPMENT FINANCE

TO QUALIFY:

• – The business owner has a personal credit score of 620 or higher.
• – Lenders prefer 2 Years in business
• – Typically requires a down payment
• – The business owner without recent bankruptcy
• – Lender prefers the business owner is a homeowner
• – Equipment used within the businesses specific industry (no pizza oven for a trucking company)
• – New equipment or less than 10 years old.
• – Lenders evaluation typically at 80% of auction value

TERMS:

• $10,000-$2 million
• 12-48 Month Term
• 7-28%

UNSECURED FINANCE

TO QUALIFY:

• – Personal Guarantee from the business owner
• – The business owner with at least a 700 personal credit score
• – The business owner without bankruptcy, liens, judgments, or late payments
• – Less than 3 inquiries in the past 6 months
• – Lender prefers established business credit
• – Less than 30% balance on all business and personal credit cards
• – Established personal credit report with at least 5 year’s history

TERMS:

• Approval amount is typically 5 X the largest credit card limit on the personal credit report
• Many credit cards offer a promotional 0% interest rate for 6 months – 1 year
• 5-29%
• 15% success fee

 

 

401K/SECURITIES FINANCE

401k Option:
Part 1: Rolling over a non-contributing and qualifying account. Allows for cash out of the half, or $50,000. Whichever is lower.

Part 2: (if applicable) Structure a self=directing IRA for the remaining funds
Securities Option:

Requires a movement of the stock portfolio to a new custodian. This, in turn, will structure a very low-interest-rate line of credit not to exceed 90% of the portfolio balance. ($300,000 minimum)

TO QUALIFY:

• – The business owner has 401k, Stock or Securities
• – Can offer the latest FULL statement
• – No specific personal credit score required

TERMS:

• Prime + 2%
• $1995 lender fee (for 401k option)

 

 

COMMERCIAL REAL ESTATE
TO QUALIFY:

• – 25% down payment
• – The business owner with 650 personal credit score
• – Qualifying commercial real estate property
• – 2 Years in business
• – Qualifying 2 years business tax returns

TERMS:

• $75,000-$20 million
• 4-8% interest rate
• 20-30 year term
• Conventional or SBA 504

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