San Francisco, CA (PRWEB) November 13, 2012
The Lending Circle, a division of Sunovis Financial (SBA experts), now offers a simple and fast solution to small businesses in need of capital: short-term business loans. Loans as little as $5,000 up to $150,000 are available to those who have been in business for at least one year with revenue of at least $100,000 annually.
Underwriting focuses on cash flow and company operations, not on credit scores. For newer businesses with no credit history or those with marred credit scores, these loans can offer a needed solution. In addition, repayments are reported to the credit agencies, so businesses can start to build or repair credit history.
Some businesses may not need to go through a full SBA loan process if the capital needs are $150,000 or less, or others could use the short-term loan for immediate needs as an SBA loan is being handled (which can take 30 to 60 days.)
Ideal candidates are those that have an immediate need for cash, and have a regular client base and regular cash flow (like restaurants, dentist offices or retailers.) For instance, a retailer may have the opportunity to buy inventory at a 50% to 65% discount if they pay cash now - and the order must be fulfilled in the next 10 days. The markup and return on the resale of the inventory would bring a good bottom line profit to the retailer, so a fast short-term loan could make sense. Because interest rates are higher than bank loans, the Lending Circle helps the business analyze each situation.
Loans can be approved in as little as 2 to 3 days, and can be funded in as little as 7 days. The process is seamless and smooth, and even loan payback is easy with a daily ACH payment. This allows small businesses to concentrate on business! Loan terms vary from 6 months to 18 months.
The Lending Circle knows that small businesses need capital to grow and thrive, but bank loans are not always possible. The new short-term business loan may offer an alternative solution to many.
About The Lending Circle
The Lending Circle is a division of Sunovis Financial. The company assists borrowers with any lending need, from short-term micro loans and alternative lenders to conventional financing and refinancing. Sunovis is an SBA loan specialist as well.