For small business owners looking to start, purchase or expand their business, we offer loans from $2,001 to $75,000. Your personal credit record and score will determine the loan amount, length of term and interest rate.
The features of this loan include:
- Approval within 3 weeks
- Business counseling and support
- You must be at least 18 years of age.
- You must be current on all your personal and business bills.
- You must not have any unpaid collections, charge-offs, judgments, tax liens or past-due child support (although settled accounts and payment plans may be acceptable).
- You must be clear of bankruptcy for the past 12 months.
- You must be free of late payments on auto or mortgage loans in the past 12 months (unless due to a short sale, foreclosure or loan modification).
- You should have sufficient cash flow (including business profit, employment and other outside sources of income) to comfortably support monthly payments.
- Other criteria may apply.
Exceptions to credit criteria can be made for loans $5,000 and below.
Here are a few additional requirements for businesses that are just starting out:
- Experience in the business industry is preferred.
- Must have a business plan.
- Must have an outside source of income to support monthly payments.