How It Works
How We Help Small Businesses In Search Of Financing
- We put together a database of various lenders and finance companies, according to the basic pre-qualifying factors they utilize, for example, credit score, loan amount, length of borrowing, years in business, revenue, collateral, origination fee, other fees, down payment, closing costs, daily or monthly payment schedules, states where services are available, as not all lenders offer services nationwide; some are states specific, bankruptcy, late rent or mortgage payments, etc. It should be noted that not all factors apply to all applicants, especially those seeking alternative type of financing such as invoice factoring or account receivable financing.
- We create one simple pre-qualifying online application form, which contains information to be provided by the applicant, and these information will be weighted against those factors, to be able to determine which lender or finance company that will likely be the best match for the applicant.
- We source, match and refer applicant to a lender or finance company, to start the actual application process. Unlike in alternative lending where decisions are made mostly online and within few minutes; but this is not the case with those applying for an SBA 7(a) loan. If an SBA 7(a) loan applicants meets the basic requirements and have a well-packaged loan application with all the supporting documents, the applicant will meet face-to-face with the lender to complete the funding process. At this time, the lender will ask the applicant certain questions pertaining to the loan such as the need for it, how the loan will be used, and how it will be repaid. With this in mind, we prepare applicants to let them know the type of questions they should expect from the lender and how to respond. Failure to successfully complete this part may cause the loan request to be decline.
- If we find a lender that best match your request, we will notify you and the lender(s) or finance company will contact you within 24- 48 business hours, and direct you to their website to complete your application online and will also let you know of any additional information that is needed. If you are requesting for an SBA 7(a) loan and you meet the eligibility requirements, we will refer you to the SBA 7 (a) lender and provide you with the types of forms to be used and the supporting documents that are required. If you request the optional packaging service along with matching you with a lender, we will assist in packaging your loan as well.