More often than not small business owners get denied when they apply for a business loan or business line of credit. As a business owner, you need access to funds in the beginning stages of your venture.
Banks simply will not give a small business a loan unless, they have been making a profit for 2 years or more. To make it harder, the banks will want a Personal Guarantee from you.
If you do not have an amazing personal credit file you simply will be put in their denied credit files. There is a systematic way you should go about building credit for your business. Most small business owners do not know how to even start.
We can help you get started with your small business credit file and get you on the right track with obtaining lines of credit.
Gone are the days of being denied for business credit. Alternative Lenders are saying yes all across America because they know your need for funds are real.
We say Yes a lot more than we say no. If we do say no, we will go the extra step and help you get that “YES!”
JCH Financial Solutions is unlike the typical business lender. We do not give you the hard sell playbook in order to get you into a loan you may not want, just to make a commission. We take the time to listen to your needs and concerns and do our best to give you the information you desire. JCH Financial Solutions has the “we are in this together” attitude. That means, we want you to get the financial product you want or best fits your needs. Yes, commissions are nice but, taking care of the clients concerns/needs is just a better way of doing business.
We have the financial products you need and the wisdom to help you get into a loan that will benefit you. For some, a Merchant Cash Advance may be the answer and others may just need a Small Business Line of Credit. Both give you the capital needed but have very different repayment terms and qualification requirements.
We also offer Small Business Credit File Consultation, where we can help you either establish a new credit file for your business or help you improve your fundability. There is a very specific way to start your Small Business Credit. You need a certain number of trade lines before you can get the approval for retail credit. As you may have guessed, you need a certain amount of retail credit before you can get a large sum loan with desirable terms.The Best part of this process is you DO NOT have to provide a personal guarantee to get business credit because the credit file is not set up with your social security number. Instead your credit file is set up using your EIN or Employer Identification Number that you obtained from the IRS.
Complete & Submit your Application
Underwriters will review your information and submit your offer
Receive your Funds within 48 hours after you receive your Approval!
The Merchant Cash Advance is quickly becoming one of the most popular loan products for the small business owner. The requirements are not as strict for the MCA as it is for Term Loans or Lines of Credit.
The typical requirements for the Merchant Cash Advance are: you have been in business for 2 years, average monthly income of $10,000. If your sales are predominantly from credit card sales that will be a definite plus.
It is also popular because, you do not need to supply the traditional ton of paperwork, instead you will need to provide: Photo ID, the most recent 3 months of bank statements that show your deposits, and the application for the loan.
Repayment terms can be any where from 3 months to 15 months. Some MCA lenders will elect to take a pecentage of your daily credit card sales, usually a small percentage around 3%.
We appreciate your interest in JCH Financial Solutions LLC. If you have any questions about our loan products, please give us a call.
CALL US TOLL FREE: (800) 593-1352