Application Only Business Financing

What is a small business loan?

A small business loan is a financing option designed specifically to help small business owners fund various business needs such as expansion, inventory, equipment purchases, or working capital. These loans can come in various forms, including term loans, lines of credit, and SBA loans.

How do I apply for a business loan?

The application process for a business loan typically involves submitting an application form along with supporting documentation such as financial statements, tax returns, and business plans. The requirements may vary depending on the type of loan and the lender. However, with Always Capital, you can simply fill out the online application.

What is the difference between a term loan and a business line of credit?

A term loan provides a lump sum of money that you repay with a fixed monthly payment over a specific period. A business line of credit, on the other hand, gives you access to a pool of funds that you can draw from as needed and only repay the amount you’ve borrowed, plus interest.

What credit score do I need to qualify for a small business loan?

Credit score requirements vary by lender and loan type, but generally, a higher credit score increases your chances of approval and may result in better interest rates. Always Capital works with all types of credit. Some loan programs, such as SBA loans, may have more flexible credit score requirements compared to traditional lenders. 

Can I get fast funding for my business?

Yes, some lenders offer fast funding options, such as same-day funding or funding within a few business days. This can be particularly useful for urgent business needs. However, these options might come with higher interest rates or fees.

What are the benefits of getting an SBA loan?

SBA loans, backed by the Small Business Administration, often come with lower interest rates and longer repayment terms compared to conventional loans. They are designed to support small business financing and make it easier for businesses to access capital.

What types of business loans are available for small businesses?

There are a variety of loan options available for small businesses, including term loans, business lines of credit, equipment financing, merchant cash advances, and SBA loans. Each type of loan is designed to meet different business needs.

How can I ensure a better business credit score?

To maintain a better business credit score, make sure you pay your bills on time, keep your credit utilization low, and regularly review your credit report for any discrepancies. Building a strong credit history will make it easier to qualify for business loans and secure better terms.

What funding options are available for new businesses with limited time in business?

New businesses with limited operating history can explore funding options such as secured loans, business credit cards, and startup loans. Some lenders may also consider alternative lending criteria such as cash flow and revenue projections.

How do I choose the right loan for my business needs?

To choose the right loan, assess your business needs, the loan amount required, and repayment terms. Compare different loan options, considering factors such as interest rates, fees, and the lender’s reputation. Tools like the Better Business Bureau’s ratings and reviews can help you make an informed decision.