Use your business cash flow or assets to get a large business loan. How to search and contact lenders and learn how to get approved. Get up to $2,000,000 through these programs. Fast and easy process with 1 to 3 day closings may be available.
Very little documentation and financials in most cases. Business loans up to 2,000,000 available with either real estate or unsecured with strong monthly cash flow.
Search and contact lenders that offer a big business loan and review their approval criteria
If your business generates more than $50,000 per month in gross revenue, or your personal credit score is over 600, then your business has a good chance to be approved.
How to get a large business loan: How to steps, direction, and tips:
How to get a large business loan fast and easy
Estimated Cost: $0
Total Time: 1 Day<
Supplies Needed: Financia statements if available, Business bank statements, and Tax returns for requests over $100,000.
Time available. Tools needed: Internet connection, phone, computer
Step 1: Preparation
Research companies that offer big business loans. Search for programs that best match your business for the amount requested, your annual sales, credit, time in business and use of funds by your business.
Search for companies that offer specific programs that you are looking for.
Step 2: Have your business financial information ready to go.
Tip: Start the process a few weeks before needing business funding. Larger funding amounts over $100,000 often require more time for an approval. If your business generates more than $50,000 per mont hin gross revenue and your personal credit score is over 700, then your business has a better chance to be approved.
Review your business bank statements and financial information before providing. If there are any problems then write an explanation for those problems before applying. This can include slower business periods during the year, low net income on financial statements or any other reason.
Start weeks before you need the loan if possible. You may need that time to get documentation together.
Step 3: Settle on the top 2 or 3 programs that best matches your business for your profile and the reason you want the loan.
Contact qualifying companies and ask about their qualifying criteria
Try to find out if your business has a good chance to be approved. Some lenders may be able to prequalify your business over the phone.
Call and talk with a representative of the most qualifying programs. Tell them your company’s main characteristics such as amount requested, time in business, credit and ask if you will qualify.
Step 4: Submit an application
Go with the most likely program you have determined can get your business a big business loan based on your review and any conversations you had with the lender. Complete an application for funding and provide the supporting documentation requested to show business revenues such as bank statements or tax returns.
Is the program the best fit? Then apply!
Step 5: Review approval offers
Once approved, review all details of closing stipulations such as terms and conditions. Make sure you can provide required items. Complete transaction and receive funding.
Was your business declined? Contact the lender and try to find out why you were declined. Can you do anything to get the decision reversed? If not, then go back to other lenders you looked at during your initial search. Ask the other lenders if the reason you were declined will be an issue for them. If not, then consider applying with them.
Review approval terms. If you are satisfied, provide closing stipulations and get funding into your business checking account.
FAQ Frequently asked questions.
How can we qualify for a large business loan?
Time in business of 6 months and revenues over $25,000 per month are needed at a minimum. Higher credit scores over 600 will help get approvals and higher offers. Higher average bank balances also help.
Can we get a larger business loan with bad credit?
Your business can still get higher amounts with bad credit. Strong sales and time in business can overcome a lower credit score.
Can our start up get a bigger business loan?
Your start up will need about 6 months in business, strong sales and credit scores over 575 to have a chance at a higher approval amount.
Do we have to have collateral?
Your business does not need collateral to get a high offer. Strong sales are often enough. Time in business over 6 months and credit of 600 or higher can increase offers significantly.
Does the process take a lot longer?
The process often takes about the same amount of time. More documentation may be requested for amounts over $10000 and can take longer.
For other financing options, please review other alternate financing programs that may better match your business needs, below:
We are a leading funding source for all Small Businesses looking for the best alternatives to Banks.
Author Biography:Will Sanio, Owner of SCF Funding, dba bankstatementloan.com/, has a Bachelor of Science Degree in Business Administration with a concentration in Finance from the University of Tennessee, Knoxville.
Over 20 Years experience including 10 Years with Wells Fargo, formerly Wachovia Bank and First Atlanta Bank. Specializing in Traditional and Alternative lending.
Will Sanio: University of Tennessee Diploma – Bachelor of Science in Business Administration with concentration in Finance – Click or Tap to Enlarge Image.
How to get a large business loan Article. Video description: This Video includes options, programs, requirements, approval and the funding process. STEP 1: Call the Lender, STEP 2: Qualifying, STEP 3: When you Apply, Only Provide:, STEP 4: Closing
Steps to successfully get approved for and close large business loans
How to Supply: Cash Flow Statements
How to Tool: Desktop, laptop, tablet or phone
Step 1: Call the Lender
Call the lender that offers bigger loans and talk with someone that can make an assessment or a pre-approval. Tell them your specific details. Type of operation, annual or monthly revenues, deposits, how long open and credit.
Are there clear reasons they might deny you? This helps you know where you stands. Do you have a good chance? This avoids wasting time with unnecessary denials also.
VIDEO CLIP Below: Call the lender: Give them details : 10 Seconds – 35 Seconds in Clip below.
Call Lenders to match your company’s needs for a large business loan
Step 2: Qualifying
What is it going to take to get the amount you need? Generally it includes annual revenues. Getting amounts more than your annual gross revenue is hard to qualify for. An amount up to that is easier.
Review your time since generating revenue. Short time such as less than a year can be approved. The longer, the higher the amount.
Review your credit score. High amounts can be approved with a low credit score, even below 600. The higher the score, the more you have a chance to qualify for.
Also, amounts into the millions can be backed by real estate. Weekly, bi-weekly, daily or monthly payment options are available depending upon the program.
TIP: There are specialty
low rate programs
for preferred industries, like retail, restaurant, auto repair, beauty supply and spa, medical, dental, and chiropractors as well as hospitals and emergency care facilities, construction and manufacturing companies, factories, grocery and convenience stores, landscaping and landscape design companies.
Hospitality, hotels and motels, assisted living and nursing homes, golf courses and resorts, cannabis dispensaries.
TIP: Is your entity in an industry that is restricted and cannot easily get funding? Find out what options are available.
Used car dealers, real estate, trucking companies, collection agencies, non profits, attorneys, religious organizations, and many other hard to fund types of companies that have trouble finding options.
Larger amounts also include industries such as construction companies and contractors, cleaning and maintenance companies.
Also included are brokers, insurance, mortgage and financial brokers, staffing companies and temporary employment agencies and logistics and transportation companies.
VIDEO CLIP Below: Qualifying Clip:
36 Seconds -126 Seconds in Clip below.
How do I qualify?
Step 3: When you Apply.
Provide cash flow information that helps your request. Don’t send bank statements or other financial information that shows weak sales unless you are required to send it.
Avoid sending information that was not requested. It may be interpreted in negative ways you did not realize in advance.
VIDEO CLIP Below: Only provide: 127 Seconds -143 Seconds in Clip below.
Apply for Funding
Step 4: Closing
TIP: Should be an easy slam dunk? Many customers get declined between the approval offer and the closing for funding.
Examples include: Closing requirements also called stipulations that are reviewed as part of the closing process. They are low recent account balances, even overdrafts, NSF’s and overdrawn accounts.
This may happen in the current month that the lender does not know about and why they do a bank verification before closing. Proof of ownership or other financials such as information on other owners, or a tax return could be requested.
If you are declined, ask what are the reasons and if you can fix it now or in the short term so you can get approved and close. Sometimes you can satisfy the denial reasons, still close and get the money wired to your account.
Finally, a background check will be completed. This can pull up previous corporation the owner had in the past. They may have had a default or slow payment with with other lenders. We can help you deal with these issues and get you funded. Contact us at 919-771-4177.
TIP: Other big loan types and challenges companies face trying to get higher approval amounts to repair your Big Rig or Hot Shot truck, against your truck or vehicles, or against your trailer. Loans for hot shot and some hot shot start up options.
Get processed on weekends and in evening hours after 5. Have you ever been asked for a MTD month to date statement? We show you how to get it and also avoid being declined for problems with your current month such as the drop in deposits since the beginning of the month.
Are you afraid you will be declined and not want to apply maybe because your credit score is too low, or other reasons? Find out in advance the top 9 reasons why loans are declined and what types you can get approved for and close with a low score and other problems.
Articles on emergency money for payroll and product orders. Are your invoices being paid too slow? Learn how to speed up your invoice payments through factoring. Are you a new start up and you don’t have 3 months statements?
Many Corporations and Sole Proprietors have low or declining monthly deposits and low average balances.
Get funding for a current federal or state tax lien. Also learn what some States like California, Virginia, Florida, Utah, New York and others require four bank statements and the disclosures involved.
From unsecured cash flow loans like bank statement loans, line of credit style options, asset based loans on your equipment, trucks, big rigs, construction equipment.
To apply, click on the apply button at the bottom right of this screen, or on the end screen of this video, or call us at 919-771-4177 or go to bankstatementloan.com/. On YouTube, please subscribe, like and share.
VIDEO CLIP Below: Close: 144 Seconds – 300 Seconds in Clip below.
FAQ Frequently asked questions on large business loans. How can we qualify?
Revenues over $25000 per month and over 3 months may qualify for higher amounts. Higher deposit amounts and average balances per month qualify for bigger loans. For some programs higher credit scores or strong financials can increase approval amounts.
Do higher amounts take longer to close?
Closing within 24 hours or less in most cases. Certain longer term programs and amounts over $500,000 can take longer to approve.
What if we are new?
Strong sales in the first few months is enough.
Can we get funding from the same program again later?
Yes. Pay the balance down to 50% it can qualify for more funding right away. One program allows for new funds after 30 days of timely payments.
Will Real estate and other assets be required?
Real Estate is not required. Customers that offer real estate or other assets can get higher approval amounts. Close the maximum they qualify for without using real estate or any other assets.
Can we get a monthly repayment and a longer term?
Monthly and weekly repayments are available with longer terms of up to 60 months.
Many businesses need funding for over $500,000 or as high as $1,000,000 and higher.
Paying off a large Merchant Balance with a loan
You can take a merchant cash advance with a high or large balance and pay it off. Doing this can extend the term several months longer. A large merchant cash advance of over $100,000 or over $200,000 with less than 6 months left can be paid off and the term can be extended to 10 or 12 months. Terms up to 120 months may be available with same day and next day loans. Payoff your advance today!
Business owners say they have been declined because the amount they asked for was too high. They requested funding over $250,000 or more and were denied. Our programs are designed for higher dollar needs.
Callers call in and ask what they need to provide:
Use the following chart below to determine what you will need when submitting.
$50,000 to $100,000: Provide an application and last 3 months bank informa.
$100,000, $150,000 and $200,000: Provide an application and last 3 months checking account information.
$250,000 to $300,000: Submit an application, last 3 months checking account information and Year to date interim Profit and Loss (P & L)
$350,000, $400,000, $450,000 and $500,000: Submit an Application, last 4 Months checking account information, Year to date Profit and Loss and Balance Sheet.
$500,000, $600,000, $750,000, $1,000,000 and $1,500,000
$500,000, $750,000, and $1,000,000: Submit an application, last 6 months complete checking account statements. Provide the last 2 Years business Tax Returns.
$1,000,000, $2,000,000, $3,000,000, $4,000,000 and $5,000,000: Submit an application, last 12 months business checking account statements and last 3 years Tax returns.
Companies that have been denied by a lender because the amount of the request was too high will still try to get smaller amounts another way. Ask lenders upfront if they have a maximum loan amount and if they have different criteria for different dollar amounts. If so, what are they?
Because the lender has different lending criteria for higher loan requests, they may not provide you with the information. Ask these questions to help get approved and also avoid unnecessary denials.
Looking for alternatives to a cash flow option? Then watch our alternatives to an MCA here.
Show Video Transcript Details
In minutes and seconds.
0:00 Introduction
0:10 Step 1: Give the lender details
0:36 Step 2: Qualifying
0:47 Time in Business
0:54 Credit Score
1:06 Payment Terms: Weekly, Bi-weekly, Monthly, Daily
1:11 Preferred and Favored Companies
1:36 Restricted Industries
2:07 Step 3: Only Provide required info
2:24 Step 4: Closing: Problems and challenges
2:32 Closing Requirements: Stipulations
2:58 Declined? Do this
3:10 Background check
How to Get a Large Business Loan
Large business loans, big business loans, most lenders offer something small, or tell you no. [no] To apply, click on the apply button at the bottom right of this screen. So how to get a large business loan.
Step 1: Call the lender
that offers bigger loans and talk with someone that can make an assessment or a pre-approval. Tell them your company’s specific details. Type of business, annual or monthly revenues, deposits, time in business and credit. Are there clear reasons they might deny you? This helps you know where your business stands. Do you have a good chance? This avoids wasting time with unnecessary declines also.
Step 2: Qualifying:
What is it going to take to get the amount you need? Generally it includes annual revenues. Getting amounts more than your annual gross revenue is hard to qualify for. An amount up to that is easier.
Time in business. Short time in business such as less than a year can be approved. The longer the time in business the higher the amount. Credit score. High amounts can be approved with a low credit score, even below 600. The higher the score, the more you have a chance to qualify for.
Also, big business loans into the millions can be backed by real estate. Weekly, bi-weekly, daily or monthly payment options are available depending upon the program.
There are specialty low rate programs for preferred industries, like retail, restaurant, auto repair, beauty supply and spa, medical, dental, and chiropractors as well as hospitals and emergency care facilities, construction and manufacturing companies, factories, grocery and convenience stores, landscaping and landscape design companies. Hospitality, hotels and motels, assisted living and nursing homes, golf courses and resorts, cannabis dispensaries.
Is your business in an industry that is restricted and cannot easily get funding?
Find out what options are available for your business. Used car dealers, real estate, trucking companies, collection agencies, non profits, attorneys, religious organizations, and many other hard to fund types of businesses that have trouble finding options.
For larger bigger business loans, they also include construction companies and contractors, cleaning and maintenance companies, brokers, insurance, mortgage and financial brokers, staffing companies and temporary employment agencies, small and larger logistics and transportation companies.
Step 3:
when you apply only provide cash flow information that helps your request. Don’t send bank statements or other financial information that shows weak sales unless you are required to send it. Avoid sending information that was not requested. It may be interpreted in negative ways you did not realize in advance.
Step 4: Closing.
Should be an easy slam dunk? Lots of businesses get declined between the approval offer and the closing for funding. Examples include: Closing requirements also called stipulations that are reviewed as part of the closing process. They are low recent balances in the business, even overdrafts, NSF’s and overdrawn accounts.
This may happen in the current month that the lender does not know about and why they do a bank verification before closing. Proof of ownership or other financials such as information on other owners, more bank statements, or a tax return could be requested.
If your company is declined, ask what are the reasons and if you can fix it now or in the short term so you can get approved and close. Sometimes you can satisfy the denial reasons, still close and get the money wired to your account.
Finally, a background check will be completed. This can pull up previous businesses the owner had in the past. They may have had a default or slow payment with with other lenders. We can help you deal with these issues and get you funded.
Click or Tap on the apply button, or link in the description or
call us at 919-771-4177 or visit bankstatementloan.com.
We are a leading funding source for all Companies looking for the best alternatives to Banks.
Author Biography:Will Sanio, Owner of SCF Funding, dba bankstatementloan.com/, has a Bachelor of Science Degree in Finance from the University of Tennessee, Knoxville.
Over 20 Years experience including 10 Years with Wells Fargo, formerly Wachovia Bank and First Atlanta Bank. Specializing in Traditional and Alternative lending.
Will Sanio: University of Tennessee Diploma – Bachelor of Science in Business Administration with concentration in Finance – Click or Tap to Enlarge Image.
