Can I Get A Same Day Small Business Loan?
Typically a small business loan can take anywhere from 3 weeks to 3 months to process. ExpressBusinessLoans.Com computerized underwriting process slashes the application process from weeks to hours and offer you a same day business loan. A retail bank will begin the process with a consultation and require a business plan, personal financial documents, years of tax returns and a small business loan application fee that can range from a few hundred dollars. In order to offer a same day business loan we only require at minimum 1 business banking statement. We may require more bank statements but we can still issue an approval the same day if all documentation is received promptly. We will use this one business banking statement to assess the financial health and cash flow of your small business. Our underwriting platform will pull information from public and private databases to verify your business and industry. This process typically takes 3-4 hours. Once an approval has been rendered we and you have signed the business loan agreement we can fund immediately. Questions? Call (855)400-3863
Are There Any Upfront Business Loan Application Fees?
No. There are no application fees when applying for working capital with ExpressBusinessLoans.com. At no point will we ask for payment before your business has been funded.
What About My Credit?
ExpressBusinessLoans.com works with all types of credit from excellent to poor. Our underwriting criteria places a strong emphasis on your business credit so you can get funded. The initial underwriting is a soft credit check (we only pull one bureau) so your credit score won’t be affected by applying.Are Credit Card Sales Required?Your business does not need to accept credit card sales to be approved. In certain instances we may request merchant processing statements to review the number of transactions your business processes.
What Happens If I Don’t Qualify?
If you business does not qualify for same day funding we still may be able to have your business funded within 1-2 business days.
What is the cost of capital?
Our financing products are fee based with a fixed cost of capital. The cost of capital or interest is risk based and determined by cash flow management, business & personal credit, as well as industry. Interest is NOT capitalized and added to the funding principal. Every approval is different so we encourage you to complete the approval process to see what your business qualifies for.
Do You Fund Startups?
At this time we only can provide early stage funding to restaurants and QSR franchises. Your new venture must already have a lease in place and be in the launch phase. Please call (855)400-3863 for more information if your restaurant or franchise meets these criteria.
What happens if I Don’t Qualify ?
If you business does not qualify for same day funding we still may be able to have your business funded within 5 days. ExpressBusinessLoans.Com clients have used our same day small business loan to expand their business, increase their marketing budget, and open a second business location. For a FREE business consultation with one of our business advisers call (855)400-3863 or complete our free same small business ]