Start Up Business Loan
A start up business loan is for businesses that just started operations or have been operating as long as 2 years. Options for all include low credit scores, low revenues, collateral based and asset based options.
But some businesses are brand new and just started having sales.
Find out below which start up option your company qualifies for. Apply below now to get your best option.
Call 919-771-4177 for more info.
How to Qualify
- Show your time in business: the date on your license.For Corporations, it is the Incorporation date listed with the Secretary of State.The state will not recognize the starting date of the business until you register with the state. So register as soon as possible so that your company will have the time needed to qualify.
- Show your Sales: Through bank statement or financials or both.
- Know your credit score and if there is a credit score requirement for the program you are applying for.
Frequently asked Questions FAQ – How to get a Start Up business loan
How can I get financing to start a business?
Get a start up business loan through these specialty programs. Several options
are available for both limited funds and damaged credit situations.
Do banks give loans to start a business?
Banks rarely give loans to start a business. They ask for several years of tax returns and financial statements. Revenues must be steady or increasing each year and it needs to be an industry they prefer.
Where can I get a start up business loan?
Alternative lenders provide start up loans rather than banks. Approvals for start ups are based most heavily on monthly sales. Collateral and credit can make the difference also. Start up money will be difficult if the business has not yet opened or had sales.
How can I get a business loan with no money?
No money down options are available when there are sales. Other options are offering collateral to get
approved.
Can I get the business loan in my personal name?
No. They must be in a business name, not in your personal name. First get a license for a sole proprietorship, or articles of incorporation for corporations. Open a business checking account with a financial institution.