The program’s average loan is priced at 7% to 8% APR, is amortized over 10 years, carries no prepayment penalty, and closes in less than 30 days.
LOS ANGELES (PRWEB) November 15, 2017
South End Capital Corporation (SECC) has announced that it is expanding its aggressive business financing program to include affordable loans from $30,000 to $350,000 for business owners without real estate or other hard collateral. The move comes as millions of business owners are scrounging for capital to meet year-end financing challenges. Loan funds can be used for unrestricted working capital, expansion, debt and merchant cash advance consolidation or other business needs.
Named “Best” and one of “Top Ten Best” hard-money / bridge lenders in the US by fitsmallbusiness.com and toptenreviews.com respectively, SECC has been recognized for assisting business owners when other lending sources fall short.
According to SECC Managing Director Noah Grayson, “Normally, at this point in the year, business owners are forced to turn to costly merchant cash advances and term loans to meet pressing capital demands. In our ongoing effort to provide cost-effective financing to a greater numbers of businesses, we have lowered the loan limit on our business loan program and removed the collateral requirement—effectively unlocking access for more borrowers.”
Importantly, Grayson pointed out, SECC’s expanded program offers loan terms that are manageable for any small business. The program’s average loan is priced at 7% to 8% APR, is amortized over 10 years, carries no prepayment penalty, and closes in less than 30 days.
“These are full documentation loans,” says Grayson, “so applicants need to have been in operation for two or more years and must show a profit on their tax returns.” South End Capital will consider borrower credit scores down to 600 and has few restricted industries for this program.
ABOUT SOUTH END CAPITAL CORPORATION
Founded in 2009, South End Capital Corporation (SECC) is a nationwide, non-conforming lender (CA Finance Lenders License # 603 L334) providing small-balance commercial and investment-residential real estate loans, bridge loans, business loans, and merchant cash advance (MCA) consolidation loans.
SECC has been named “Best” and one of the “Top Ten Best” hard-money / bridge lenders in the US, by fitsmallbusiness.com and toptenreviews.com, respectively. SECC offers a five-minute online application, excellent service, prompt responses, generous compensation to approved partners, and custom-tailored loans. Visit http://www.southendcapital.com or contact Noah Grayson at (888) 268.7778 x 5 / noah(at)southendcapital(dot)com.