Louisville Small Business Owners Can Now Benefit from Sunovis Micro Loans

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Sunovis Financial assists small business owners nationwide and now offers assistance to Louisville small businesses. The company focuses on both SBA loans and fast non-bank Micro loans.

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The mission of Sunovis Financial is to rebuild the U.S. economy, one business and one loan at a time. The company is expanding into Louisville to help small businesses access non-bank capital.

The mission of Sunovis Financial is to rebuild the U.S. economy, one business and one loan at a time. The company is expanding into Louisville to help small businesses access non-bank capital.

Louisville's central position in the United States (within one day's road travel to 60% of the cities in the continental U.S.) historically made it a center for transportation and industry. Today it ranks as the 7th largest inland port city, carrying on the tradition.

The city today is strong in healthcare, medicine, insurance and a number of industries which supports small business enterprises. In fact, many proud small businesses are proud to call Louisville their home. But many owners are unable to access bank loans. Business owners need capital to grow. Sunovis offers a solution.

Micro loans at Sunovis are small cash flow loans. The loans are short term, from four months to 18 months. Loan amounts are typically about 4% to 9% of annual revenues, and are renewable. Interest rates start where bank rates leave off.

This is an important point –underwriting is different than bank loans. Cash flow of the business and the ability to repay are very important, weighing more strongly than credit scores. No collateral or down-payments are involved. Ideal companies are those with steady cash flow on a daily basis (restaurants, dentists, doctors, vets, retail stores, auto repair, plumbers, etc.) Loan payments is typically a daily ACH in order to “set it and forget it.”

Sunovis Micro loan approvals are typically made in two to four days, and funding can occur as quickly as seven to ten days. Not every industry qualifies, and there are some prohibitions (a recent foreclosure or bankruptcy for instance.) However, the mission is to help as many small businesses as possible.

Interested businesses need only complete a one-page application and four months of bank statements (and if credit cards are accepted in the business, four months of merchant statements.) Sunovis underwriters will assist each small business owner with the process and overall costs of the loan.

About Sunovis
Terry Robinson is President of Sunovis Financial. The company focuses on assisting small businesses through SBA loans and Micro Loans, and also offers SBA services to small banks.

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Kathy Heshelow
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