Funding

The economy changes frequently. The time to prepare is before change is imminent. One way to be prepared is to know how to finance a business in any economy.

A TRAC (Terminal Rental Adjustment Clause) lease is a lease on a titled asset intended for commercial use more than 50% of the time.

Private business financing runs the gamut from term loans to MCAs to venture capitalist funding. A startup can also get a revolving line of credit, which is a lot like a business credit card.

A bad credit score does not always mean you cannot keep up with debt repayment. Errors or inaccuracies can affect your credit score. A failure to remove a collection account from your credit report also matters.

With medical equipment financing, a medical equipment loan company or lender gives you money to acquire equipment. You then pay back the loan plus interest. Sometimes, this is in regular installments.

Once you find financing that you can get without a credit check, whether from alternative lenders or some other source, and it serves its purpose, the real work begins. That is when it is time to improve your low credit score so that you do not have to worry about lenders checking your credit history. 

Hard money loans can be more expensive depending on the preferred loan-to-value (LTV) ratio of the lender. If a lender will only finance 70 – 80% (or less) of the property’s value, you’ll likely need to bring a sizable down payment to the closing table.

Private equity financing is money that is invested in a privately held business. So, it’s in exchange for partial ownership of the business.

There are many sources who offer business funding today. Knowing the different sources will help you find the best funding options for your business. Business funding sources are out there.

Remember, most of these funding sources you can access right through your funding suite with us. So reach out to me to receive more information about the specific funding that will work for you and your business.

A proper business plan, prepared by a professional, will increase any small business’s chances of loan approval. You would be hard-pressed to find lenders who don’t want a valid business plan as part of a funding application.