Using real estate to back your loan will save you thousands of dollars compared to taking out a conventional business loan. It can also make you eligible for a loan when you would otherwise not be.
A term loan can allow you to take advantage of opportunities quickly and easily, such as purchasing quick-turnaround inventory and longer-term needs as well, like opening a new business location across town.
Having access to a business line of credit can be a tremendous asset for a small business. Whether planning ahead for your next venture or just having a safety net, you won't need to apply for a new loan every time your business is in need of extra funds.
A history of bad credit can prevent you from obtaining funding from a traditional lending source. However, one of the advantages of a merchant cash advance is that those with bad credit are still accepted, even if their credit scores are below 500.
Debt consolidation can be used to pay off and simplify existing debt by consolidating multiple payments into a single payment. You may even be able to receive a lower rate on a consolidation than you are currently paying on your debt.
With interest rates as low as 1% and opportunities to get the loan forgiven, the PPP loan can be what saves your business from going under in these unprecedented times. You will have the advantage of working with the 3rd largest PPP lender with significant loan processing capacities, and the ability to process an extremely high volume of applications, as proven by the impressive $6.5 billion in loans issued during its first round.
