Small Business Startup Loans

Hello this is Ty Crandall with credit suite and in this very short video we’re going to dive in and talk a little bit about some of the small business start-up loans are available right now. Now one of this is known as account receivable factoring or financing where you can get up to 80% of financing um immediately within 24 hours of whatever your invoices so this works really good if you’re starting your business and you already have receivables, you already have orders that need to be fulfilled you can get funding of 80% of that invoice somehow and get it within 24 hours, now some sources will require that you’ve been at this business in 1 year but again there is a are financing out there its available without being in business in 1 year, now the receivables must come from another business or the government and rates are really low regardless of personal credit your personal credit doesn’t matter you hear rates as low as one and a quarter percent which makes really feasible cause you don’t have to spend the high rate um to get your initial funding which helps your business really get going, now security based lines of credit where you can use stocks or bonds as collateral and borrow against those, so if you’re starting a business you happen to have stocks or bonds or maybe you have an investor partner that does you could borrow as much as 90% percent of the value of those stocks or bonds really will rates to lowest one is 1.6% personal credit doesn’t really matter so even with credit challenges you should could still get approved you actually getting access to a working capital line of credit and as I said challenge personal credit is okay so even if your start-up and you have credit problems which usually will disqualify you from most programs you could still qualify, now another kind of collateral assets based program is inventory loans, so you going to have the minimum inventory $150,000 if you just starting the business let’s say you got some initial investment or you put some of your own money and you stocked up on inventory and now you’re short on cash well this is a perfect solutions cause you could use that inventory borrow against that and get as much as 50% um financing against the value of your actual inventory now, you can’t use things like office equipment stuff like that let’s say you have you know inventory it’s actually sitting on the shelves at factory or retail store that could be use and rates are super low as low as 2%monthly on the outstanding balance that you borrowing again I said an example that might be a factory or retail store that already has um an initial inventory so this is real good if you leverage your initial investment against your inventory now you need working capital an absolute great solution now PO Financing your purchase or the financing is typically available 5 to 25,000 dollars for start a business, so this means you get up to 95% of your existing purchase orders so let’s say you’re just starting a business and you have people that already want to buy your product their already submitting orders or purchase orders um that you need to fulfil and you had the money to fulfil well this is a fantastic way to get money cause you could leverage as purchase orders to get a financing for up to 95% of the purchase order amount and then what will happen is they’ll be issued letter of credit whoever the PO is with and the lender will actually pay them for the porch purchase order once they actually shift whatever it is they’re actually sending to you so works really, really good for start-up Quintin financing lender will actually as a couple ways this might work for you first of all you have existing equipment now that you want to use its leverage, and you could typically get as much as 50% um again set equip me you could use that as collateral and borrow against at, that’s got to be major equipment only can’t be like a small office printer needs to be like a back hoe or you know a bigger piece of more valuable piece of a actual equipment and the lenders not going to combined and much small equipment like if you have a bunch of printers in your office were not going to combined that, they need to have one piece of equipment or more that’s worth, you know pretty high value on any site in almost out of money you’re going to need first and last month’s payments and you can actually get loans up to 2 million now another thing to say about equipment financing is you can also get financing as a start a business to buy equipment and leasing equipment so Quintin leasing and financing is also available to get initial equipment you may need to start-up a business now another type of popular financing that we see is 401k financing where you could use the 401k or IRA as collateral and you could borrow against it now you can get up to a hundred percent against what’s your 401k now you can even put more money into the 401k and get as much 200% um which means that you could borrow a hundred percent what already in the 401k and you could put twice as much money in there, which actually would increase into 200% rates are usually less than 3% usually 3,4,5 percent long term loan and then ultimately what they’re doing is they’re setting up a new corporation the retirements plans created for your business okay then the funds are roll over from your 401k and your business and then the new plan basically purchased stock um in your business and keeps it, so what ultimately happens 401k financing is a you’re basically borrowing money and investing money in your own company instead of investing money in the other companies and there’s no penalty for this so some really good creative solutions for small business start-up loans, okay lot of these are very god options hopefully you got some good information at this if you did makes you like the video make sure you subscribe to our channel also because on our channel we have a lot of videos that are dedicated to how to get loans with bad credit how to get loan to start a business, how to get credit lines, how to get credit cards all those types of things even information on how to build business credit even a start a business and a lot of our videos went 32 hour long so we give you a lot of details even including the things you should put on the application the end walking you through the application process also make sure you click on this video because we usually give you access to either a free resource to qualify for financing or a free guide or free e-book that can help you outline the steps of what you need to know to get approved so again this is Ty Crandall thank you for taking the time to check out this video on small business start-up loans.

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One thought on “Small Business Startup Loans

  1. Really ,
    this is a great video to learn how to get small business loans. thank you so much & I will expect to get some loans by using this method..

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