At Level4Finance, we focus on two main types of business loans. It has been our experience that about 80% of small businesses have not placed themselves in a position of being "bankable" yet. Being bankable means that your business and you have done what it takes to be approved for a business loan by your local bank. One of our major goals is to get you, and your business bankable and we do that inside of our business finance back office system. However, until you are bankable we still want to get you funded.
So let's take a look at the two products we focus on:
Business Loan Product 1 - Unsecured Business Financing.
Business Loan Product 2 - Revenue Based Loan.
This type of financing funds from $25,000 to $150,000 and is based on the Personal Credit Scores of your business principals. It requires FICO scores of 700 and above with no bankruptcies, judgments, liens or charge-offs. Because the funding is per principal, if your business has 2 or more principals then you can receive multiple fundings.
The program comes with 0% interest for at least the first year and it is No Doc funding. This means it does not require; bank statements, tax returns, financial statements, income statements, or balance sheets. There are no assets being pledged and no business plane to write. The program normally takes 3 to 4 weeks to fund. We provide a Free Funding Range Report that lets you know if you pre-qualify now, for how much, and what you may need to do in order to maximize your funding.
This loan is based primarily on your gross monthly revenue. Typical approvals begin when your business reaches at least $10,000 a month in gross revenue. This business loan program is looking for consistent revenue and in most cases daily revenue. The reason for that is the way this loan gets repaid.
This loan takes a daily ACH from your business bank account on a Monday through Friday basis excluding holidays. This makes the daily payment small and is great for any business that has daily deposits. The amount funded on this business loan is typically 10% of your annualized gross revenue. Therefore if your annual gross revenue is $250,000 this loan would be $25,000.
Approvals require FICO scores above 550 and not having too many NSF on the business bank account, say no more than 4 in the past three months. Loans amounts are from $10,000 to $250,000.
Other types of business loan programs that we offer are business credit cards,
, receivable factoring, purchase order financing, term loans, inventory loans, equipment financing, and investment account rollovers. All of these programs will be discussed in detail once you complete the business finance pre-qualification test.