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Business Loans & Lines of Credit

Every business has three major components necessary to produce. These are land, labor and last but most vital, is capital. It takes capital to get the others. Business owners often fear banks and commercial finance companies. This fear has its foundation in a lack of lender knowledge. A broker knows the ways of these lenders and has the contacts to secure financing for virtually any type of business.

Small Business Administration (SBA) Loans

A business that may not be able to get a traditional loan may qualify for funding through a SBA loan at reasonable terms. The Small Business Administration guarantees major portions of the loans through the SBA loan program.

Sale Lease-Back Financing

Businesses may access needed capital by leveraging the equity in their existing equipment. With Sale-Lease Back financing, the company’s current equipment remains under the business owner’s full control and is never taken out of production. It’s a simple transaction. Your business sells your equipment to and leases it back. The capital your business receives from this transaction can be used for anything your business needs, without restriction. A broker has the contacts to secure financing for virtually any type of business. You should always consult with your tax advisor first.

Lines of Credit

A line of credit for a business is, in our opinion, one of the first things a business should obtain when starting a business. Lines of credit are simple. It’s similar to a credit card, and you typically access the credit line by writing a check. The interest rate is usually much lower than a credit card. A credit line is an amount of credit that you can access as you need it in any way you need it to grow your business. For example, let’s say you obtain a $50,000 line of credit. If you need say $12,000 you access it and you still have $38,000 you can access at a later time. When you pay it down to say $8,000 then you have $42,000 more you can access. To maximize your credit lines it may take the help of a Broker. Credit lines can really come in handy to fill in the gaps for a business. Need to make payroll and a little short? Need to pay a vender or an unexpected repair? What about those slow times of year? Whatever the gap might be, the credit line can be a great back up.

Merchant Finance Lines of Credit

Much like a Line of Credit descibed above, with an amount determined by historical credit card sales, and repayment of any amount accessed similar to that of Merchant Financing. The lender will collect a portion of future credit card sales until the loan amount and fees are recovered. This is a combination of two popular products.

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