A financing option designed specifically for small businesses with little to no business history. It includes a broad range of financing options that you can apply for such as SBA microloan, short term loan, or line of credits.
The rates, term, and repayment structure will depend greatly on the lender that you signed with. Traditional lenders will usually come with higher cost as startup loans are considered high risk undertaking
Keep in mind that the application process for a startup business loan can take up days or weeks. Thus it is advised that you plan ahead and get to know your options before you decided to apply
To be considered for a startup loan, id is advised that your business has been in operation for at least 6 months with $50,000 average annual revenue. Because your businesses has limited credit history, lenders will look at your personal credit history to gauge how you will manage your business finances.
The application process for a startup business loan differs depending on the type of loan that you are seeking. Use our application platform to find out and compare the options that are available to you.