Business Revenue Lending will lend your business money based only on you having consistent revenue now. If your business has $150,000 or more collected in revenue this year, you might qualify for this program even if you have personal credit challenges.
Approval amounts range from $5,000-150,000 based on the amount of current revenue your business reflects on your business bank statements. To determine your approval amount the lender will review 4-6 months of your bank statements. If your statements reflect you earn more than $150,000 in revenue, if you don’t have a lot of Non-Sufficient-Funds showing on your bank statements, and if you are processing 30 or more transactions in a month, you stand a great chance of being approved.
Loan terms are typically between 6-18 months and you can be approved with as low as a 520 consumer credit score. To pay back the loan they will collect a portion of your future revenue until the loan is paid back in its entirety. This is a nice benefit as if your revenue drops in a month, so will your repayment obligation.
This is an exceptional funding program for any business that has consistent revenue each month, even if you don’t have financials to supply. All that is reviewed for approval is your bank statements and sometimes your merchant statements. So if those statements are solid, you stand a great chance of being approved.
You just can’t beat a program that lends you up to $150,000 even if you had challenged personal credit, just because your business is bringing in revenue. And it only takes 2 weeks to close and secure your money.
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