Business Loans
Business Loans For Today’s
Business Realities
When it comes to business loans, one size does not fit all.
Learn about your options.
The type of loan you need depends on what you want to use it for, according to the 411 on business loan products. One of the few online lenders, Business Capital Resource, provides a variety of products to help business owners with their short-term finance needs.
A Business Capital Resource Term Loan is the best kind of loan for you if you need to borrow money for a specific investment, whether you’re starting a new business or making a sizable purchase. With a term loan, you take out a one-time large sum of money and repay it over a predetermined time frame, or “term.” Our short-term loans come in a variety of terms, offering you options for repayment.
A Business Capital Resource Line of Credit (LOC) is the best option when you require continuous, quick access to operating capital, such as for managing cash flow. Our adaptable business line of credit is revolving, so you can withdraw money from it (up to $100,000) and the money will reappear when you pay the line off. In other words, you can utilise it frequently. Furthermore, a LOC only charges interest on the money that is actually used.
Loans under the SBA Paycheck Protection Program (PPP) are available for companies affected by the coronavirus. Please be aware that Business Capital Resource is no longer accepting new SBA PPP Loan applications. Visit our SBA PPP Loan website to learn more about PPP, including the terms of loan forgiveness and repayment.
Still uncertain about the best funding option for your company? We’ll assist you in making the best decision without the delay frequently encountered at physical banks.
Term Loan
Use the funds for business investments, such as capital expenditures or significant acquisitions.
Receive a one-time lump sum of money up front with the option to request additional when your debt is half-paid off.
Loan amounts of $5k – $5 million
Repayment terms up to 36 months
Line of Credit
for controlling cash flow, such as paying for salaries or purchasing merchandise
Get a credit line that can be used to access money whenever you need it.
Loan amounts of $6K–$100K
12-month repayment term, resets after
each withdrawal
3 reasons to choose Business Capital Resource
over any other lender
Simple Process
To save you time, you can apply in as little as 10 minutes and receive a response as soon as the same day.
Tailored Options
You can choose the loan type, amount, and repayment period that best suits your needs.
Real People
Many loan consultants with U.S. bases to assist you in finding the best option. And one that is devoted to you.
How to compare business loan offers
Not wanting too much or asking the bank for too much is one of the major problems facing business owners today. With loan terms and interest rates tailored to your company’s needs, Business Capital Resource offers term loans ranging from $5,000 to $250,000. These loans can help you seize opportunities to expand your company.
Business loans differ much like an auto loan does from a home mortgage since there are numerous distinct business demands, including short-term needs like buying quick-turnaround goods and longer-term needs like constructing a new business site across town.
With so many various terms and forms of financing on the market, comparing APRs is simply one approach to assess how affordable a company loan is. You may decide if a short-term loan to buy inventory, for example, would help you enhance ROI or put too much financial strain on your firm by knowing the total cost of capital associated with the loan in addition to the APR.
In order to analyse financing options and discover the company loan that best suits your needs, you should be asking these five questions, even if you are not an expert in business financing.
5 questions to ask
How much does the overall cost of capital (which includes interest costs, origination costs, and any other fixed expenses) come to?
The Annual Percentage Rate (APR) is what?
No matter whether your periodic payments are daily, weekly, or monthly, what is the average monthly payment obligation?
How much interest was paid overall, in pennies per dollar of borrowed money?
If you choose to repay the loan early, are there any prepayment penalties to consider?
Minimum eligibility requirements for an Business Capital Resource Term Loan or Line of Credit
Time In Business: 1 Year Minimum Requirements
Personal FICO Score: 600 Minimum Requirements
Business Annual Gross Revenue: $100K Minimum Requirements
Business Check Account: Yes Minimum Requirements