Loan applications and approvals for small business owners can be cumbersome and stressful. In fact, getting preapproval for a small business loan can often seem like an impossible feat! The Small Business Administration and traditional banks require extensive, thorough processes that delay access to the financing you need. Luckily, there are other alternative options than bank loans or SBA loans for small business owners like you.
It can be scary to navigate the waters of online lenders and loan sharks looking for easy prey. Instead of getting caught in the net by these dealers who offer you small business loans consisting of tasty-looking deals with impossibly difficult repayment terms, turn to reputable financial experts like AdvancePoint Capital.
At AdvancePoint Capital, you get the benefits and features that don’t exist from many other lenders, like:
- Fast approval
- Consideration of your request regardless of your credit
- Flexible repayment options
- A simple application process
- Reasonable, competitive terms and
- Speedy access to funds.
So how do you get pre-approved for one of these coveted loans? It’s a simple process.
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AdvancePoint Capital makes the loan application process a simple, straightforward experience.
Get Preapproved for a Business Loan
Before we go further, a little clarification is necessary to explain two common terms you’ll see as you look into a small business loan: pre-approval and pre-qualification. In the world of small business loans, you may be preapproved or you may be prequalified – but be careful, there might be a difference.
With lending, prequalifications don’t require any documents to be given to the salesperson. This term literally means you meet the qualifications to apply for a certain loan. You are basically sharing your loan amount needs and how much your monthly and annual revenue are. It’s a verbal call to action to see which loans you may qualify for.
In pre-approval, however, your credit score is a known quantity to all of the parties involved, you have provided some documents to backup your verbal or written financial statements, and the lender has taken the initiative based on the information they have gathered to give you preapproval up to a certain loan amount.
With AdvancePoint Capital, your pre-approval process starts with an easy online application. After that, we require minimal documentation, depending on the loan you are applying for. You may need:
- Your financial statements
- Monthly bank statements
- Your personally identifiable information such as a driver’s license
- Your one-page application
- Your credit score (although all credit scores are considered).
All Credit Scores are Considered
AdvancePoint Capital offers simple business loan options with many features and benefits you can’t get from other traditional routes, such as consideration for approval no matter what your personal credit score is.
For most of our financing, all credit scores, from excellent to poor, are considered. You don’t have to be a seasoned entrepreneur with many years in business, either. As long as you have at least six months under your belt, you are eligible to apply for financing through our company.
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Fast and Easy Financing
When the lengthy application process of traditional bank and SBA loans keeps you from getting quick access to the working capital you need, AdvancePoint Capital is your answer.
Our application process is simple, and most of our approvals are done quickly. Through the fast and easy financing steps we have perfected, once you complete the process and are approved, your funds are quickly available for the cash flow you need to be successful!
Flexible Term Options
- Small business loans for financing from $10,000 to $500,000, with terms up to 36 months and fixed auto repayments from your business bank account.
- Business lines of credit for flexible business working capital, similar to business credit cards, with limits up to $100,000, repaid over 12 months, giving you flexible cash when you need it.
- Invoice factoring for small or large credit lines up to $2.5 million, depending on receivables due in up to 90 days so you can free up cash that is trapped in invoices.
- Business cash advances from $10,000 to $500,000 with no term limits, repaid in a flexible repayment strategy using a percentage of your future sales.
- Medical practice financing for loans up to $1 million and long term options up to 7 years repaid in monthly payments.
- Equipment leasing for small or large purchases from $500 to $150,000. Decisions for leases under $10,000 are made in seconds and terms are up to 60 months.