LoanBox Solutions by Category & Subcategory:
ABOUT
LOANS
LOAN-OLOGY
LOAN ADVISOR
Credit Lines
Credit lines can be used for security or for opportunities.
Most advisors get a credit line after they wish they had already had one.
Be poised for opportunity, be prepared for the unexpected.
A business line of credit is more economical compared to other types of financing such as a term loan or merchant cash advance.
A Credit Line is a revolving line of credit granted by a bank or lender, similar to a personal credit card, but specifically designed for your business needs. You tap into the available funds as needed, only paying interest on the amount you actually use.
Unlike loans with fixed repayment schedules, a credit line is a revolving pool of funds. As you repay borrowed amounts, the available credit replenishes, allowing you to tap into it again as needed.
Conventional Loan:
As a general rule conventional lenders aren’t fond of large size working capital amount loans. Terms are typically 3-5 years. Some lenders do not offer straight working capital loans by themselves but will add to other loan purposes like purchasing a business or in a debt refinance loan.
As with other conventional loans and business lending in general the strength of the borrower’s P&L and PFS will primarily dictate options and structures.
SBA 7(a) Loan:
SBA loans are more favorable to working capital loans and loan amounts to $500,000 are readily available to qualified advisors. Ten year terms spreads out the payment and since there isn’t a pre-payment penalty you can pay it down as you like with no extra fees.
When 50% or more of an SBA loan is being used for working capital the SBA requires the lender to explain why this level of working capital is necessary and appropriate for the business.
Start on LoanBox
& Utilize Humans
Only as Necessary
Start on LoanBox for pre-screen, application and loan package and if you have questions along the way then chat , email or call a friendly human who will answer your question or help solve your problem.
Speak With a Loan
Advisor & Utilize
Human Navigation
Discuss your loan, get our feedback, and determine if you want to then do the loan yourself on LoanBox or have us take care of everything for and with you.
Forget this tech stuff, I want a human to just handle this for me.
Consultation
Loan Package Review
Lender Selection
Loan Navigation
