Where to Get a Business Loan in 2019

Business

If you want your business to grow and expand, you’d have to be willing to invest in the expenses of growth. In addition to daily operational expenses, investing in advertising, equipment, and property does not come cheap.

The solution to this dilemma is taking out a small business loan. While applying for a loan seems daunting for small business owners, borrowing money can help finance the growth of your business. If you don’t know where to begin, here are three ways you can get a business loan in 2019:

1.  SMB Compass

SMB Compass offers eight different types of loan programs to small businesses in the United States, such as a line of credit, SBA loan, equipment financing, multi-year term loan, asset-based loan, merchant cash advance, invoice financing, and bridge loans.

We offer small businesses loans ranging from $25,000 to $5,000,000. We use various data points to provide our clients with the best possible terms and conditions, as well as competitive rates.

Minimum Requirements

You’re eligible for a loan if you meet the following minimum requirements:

  • Time in Business: 1+ year(s)
  • Credit Score: 600
  • Annual Revenue: $100,000

How to Apply

Applying for a loan at SMB Compass is quick and easy. All you have to do is secure an online loan application that can be completed within minutes. After we process your application, we will contact you and provide you with a personalized loan offer tailored to your business’ needs. Once your loan is approved, SMB Compass will deposit the capital directly to your business bank account in as little as 24 hours.

2.  Kabbage

Kabbage offers short-term working capital for up to $250,000 for a line of credit, and they can fund it within 24 hours. Their line of credit lets you repeatedly withdraw the funds when you need it and only pay interest for the money you’ve withdrawn. Businesses can apply online and their application can be completed in a few minutes.

Minimum Requirements

You’re eligible for a loan if you meet the following minimum requirements.

  • Credit Score: 550
  • Time in Business: 1+ Year(s)
  • Annual Revenue: $50,000

How to Apply

Kabbage’s online loan application process only takes 10 minutes to complete. After filling out the application with the necessary personal and business information, you will need to connect Kabbage to your business bank account where they can check your information and determine your eligibility. Once your application is approved, you could get the money within the day.

3.  LoanBuilder

If you haven’t been in business for more than a year, LoanBuilder is the best option if you need a short-term business loan. They are able to finance $5,000 to $500,000 in one to three days. Additionally, they only need a minimum credit score of 550 to qualify and their loans can last for 12 months.

Minimum Requirements

You’re eligible for a loan if you meet the following minimum requirements.

  • Credit Score: 550
  • Time in Business: 9+ months
  • Annual Revenue $42,000

How to Apply

You can start your loan application by filling out a short online form which typically takes five to 10 minutes of your time. Once LoanBuilder received your application, you can get instant approval and have your loan funded within one business day.

If you want to know more about quick business loans, feel free to contact SMB Compass! Our team of professionals is willing to guide you throughout the entire loan application. You can contact us by phone at (646) 569-9496 or email us at info@smbcompass.com.

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