Columbus is such an important city, with a great diversified economy balanced among many sectors. Small business owners are an important part of the fabric of the city.
San Francisco, CA (PRWEB) April 15, 2013
Sunovis Financial is a national firm that assists small businesses across the U.S. with access to capital. The company has expertise in SBA financing, but there is special focus on non-bank small business Micro loans. Columbus is the latest city that can benefit from Sunovis Micro loans.
"Columbus is such an important city, with a great diversified economy balanced among the services, trade, government, and manufacturing sectors. Small business owners are an important part of the fabric of the city, but we know that many do not have access to loans or credit since 2008," says Terry Robinson, President of Sunovis Financial.
Why Micro loans? Many banks, even if willing, are often unable to lend due to many factors. The Sunovis Micro loans are non-bank loans that do not emphasize credit scores in the underwriting, but do focus on business cash flow and ability to repay. Business owners who have not been able to get a loan, don't have a down-payment or collateral, now have an option.
If the cash flow and monthly deposits for the small business are ongoing and steady, and annual revenues are greater than $100,000, a Micro loan may be an option. The business must have been in operation for at least one year, and the business owner will be supplying 4 months of business bank accounts and a 1 page application. An offer will typically be returned in 2 to 4 days, and funding could occur in as little as 7 to 10 days.
Micro loans are from 4 months to 18 months; amounts are from $5,000 to $150,000. Loan amounts are typically between 4% and 8% of annual revenues. Not all industries qualify but a great number do. Typical ideal industries are those with a daily clientele like restaurants, doctors, dentists and vets; retail stores; spas and hairdressers; auto supply stores; plumbers are just some examples.
"Columbus business owners have an opportunity for capital access now," says Robinson, "and our team is happy to discuss details."