Sunovis Micro Loans are ideal for businesses that have a specific need that will add money to the bottom line of the business, such as adding tables or a bar at a restaurant or buying discounted inventory that will be marked up for sales profit.
San Francisco, CA (PRWEB) May 02, 2013
Small businesses are vital to the U.S. economy. "Small businesses drive jobs, economic growth and have always been essential to the U.S. economy," says Terry Robinson, President of Sunovis Financial. "Our company mission is to assist as many small business owners as possible with access to capital, allowing them to grow and profit."
The company has expertise in SBA loans but puts a special focus on non-bank Micro Loans. Micro loans are short-term cash flow loans that are underwritten differently than bank loans. Approval can occur in as little as 2 to 4 days, and funding in as little as 7 to 10. A main key for the underwriters is that the business has consistent cash flow and demonstrates the ability to repay. Credit history means less, and there are no collateral requirements or downpayments.
Denver has a thriving and diversified small business community, and the Colorado economy typically ranks in the top 20 of the nation. However, bank financing is still tough and business growth depends on access to capital.
Sunovis Micro Loans are ideal for businesses that have a specific need that will add money to the bottom line of the business, such as adding tables or a bar at a restaurant or buying discounted inventory that will be marked up for sales profit. Loan terms are between 4 months to 18 months, and loan amounts are based on a percentage of annual revenues (typically 4% to 8%) with loan amounts from $5,000 to $250,000. Payback is typically by ACH, a "set it and forget it" method that many businesses like.
The application process is simplified as well: a 1 page application and 4 months of bank statements are typically all that is required. A few industries do not qualify, but a majority do.
"We are ready to help more Denver business owners and see them thrive," says Robinson.
Sunovis feels education is important, and now offers a short 15 minute webinar about why access to credit is difficult and more details about Micro loans. The webinar is entitled "The Inconvenient Truth About Small Business Financing" and any small business owner is welcome to attend. Registration is found here.