We work with thousands of lending sources nationwide and many of them are private investors who are seeking the right opportunity to invest. If you have collateral, average credit, and positive tax returns, you can be approved with many private investors at very good loan terms.
With our private money sources you won’t be required to give up any percentage of ownership equity in your business. You retain full control and are still able to obtain private investor funding, even when your bank says no.
You can obtain private money financing with much the same terms as conventional bank loans. Rates vary based on risk typically ranging from 5-18%. You can get approved for long-term loans of 5 years, 10 years, or longer, or you can get your funding through a working capital credit line that you can access and use any time you need it.
Easy to Get Approved!
There are three main elements private investors look for, before they approve you for funding. First, lenders want to see that you have tax returns that reflect a profit. They will also verify that your sales and profits are increasing from year-to-year. Lenders look at these qualities as signs of a healthy company, worthy of long-term investment. Second, lenders will verify that you have average credit. You can be approved with credit scores as low as 640 as long as you don’t have any recent, severe negative credit items on your report.
Lastly, to get approved you should have collateral. Unlike many conventional and SBA loans that require nearly 100% collateral for what you are borrowing, with our private sources you can be approved with collateral equivalent to 20% of what you are borrowing.
Collateral can be liquid cash, stocks, bonds, 401k, IRAs, commercial real estate, or other types of viable business collateral.
Get Approved when Banks Say "No!"
Private money financing is often called "SBA fall out" as it typically helps those who can’t get approved for conventional SBA financing. SBA loans have very stringent qualifying requirements, so stringent that nearly 90% of applications are denied.
With Private Money Financing your business doesn’t need to be perfect, nor do you need to supply the extensive documentation that lenders typically demand. You can get approved with just a quick review of your tax returns, credit, and bank statements.
Unlike conventional financing you don’t need good credit, average credit will suffice to qualify. You don’t need collateral valued at 100% of what you are borrowing like conventional financing, you can get approved with as little as 20%.
You can secure private money financing without most of the headaches and limitations that are common with conventional business financing.