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Common documents to include with a business loan request are your business plan, financial statements, tax returns, personal financial information and collateral details. An LLC can get a business ...
The most common type of SBA loan. Can be used for a variety of purposes, including working capital. SBA Express. Up to $500,000. Quicker approval than traditional SBA loans. Use for daily ...
Payroll records. 5. Apply for a fast business loan. Once you have a shortlist of lenders, get prequalified if possible. Some lenders offer an online tool that will let you view potential loan ...
Typically, lenders require the collateral used to secure the loan equal to 100 percent of the loan amount. If you take out a secured business loan, the value of your collateral should equal the ...
Funding request. Financial projections. However, only some lenders require a business plan. Smaller lenders and nontraditional lenders may only need to see proof that you have sufficient revenue ...
Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us. Mail. ... Certain SBA loans will require additional business loan documents or forms to apply.
A loan-out corporation, also known as a loan-out company, or personal service corporation, is a form of US business entity in which the creator is an 'employee' whose services are loaned out by the corporate body. The creator of the corporation is typically the sole shareholder, [1] and thus the corporation is used as a means to reduce their ...
Bank lenders often require at least a 670 FICO score, 2 years in business and $150,000 to $250,000 in revenue annually. These factors assess whether your business can handle the loan payments ...
Small business. Small businesses are types of corporations, partnerships, or sole proprietorships which have a small number of employees and/or less annual revenue than a regular-sized business or corporation. Businesses are defined as "small" in terms of being able to apply for government support and qualify for preferential tax policy.
Bank loans are great for low interest rates, but online lenders may be more accessible to self-employed business owners. Lenders look for steady revenue, often at least $100,000 annually. Credit ...