Small Business Loans Nebraska
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Top Loan Options for Nebraskan Businesses
Looking for loans to finance your business in the Cornhusker State? SMB Compass is your best bet!
From small business loans to equipment financing, we help Nebraska small businesses get all the funding they need to grow and reach new heights!
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Who are We?
SMB Compass is a bespoke business financing company focused on providing financing and education to existing businesses across the United States. As banks and even some online lenders continue to make it difficult for small businesses to borrow money, we continue to provide cost effective and flexible solutions.
Small businesses are the backbone of the US economy. That's why it’s important to make sure that there's adequate funding available for each and everyone of them. With expertise in SBA lending, asset-based and equipment lending, and a variety of alternative financing programs, SMB Compass has the ability to understand the unique solution required for all types of businesses, regardless of the industry or size of the company.
We’re happy to have provided over $250,000,000 to more than 1,250 US businesses and that number keeps on growing. Our unique approach has turned clients into friends and we’ve never been more grateful to serve the small business community.
Why Nebraska Small Businesses Need SMB Compass
Loans can provide a range of benefits for businesses and entrepreneurs in the state of Nebraska. By taking out a small business loan from us, you'll be able to help boost Nebraska's economy, not to mention reap a plethora of benefits, including:
Increased Working Capital
We can provide you with the working capital loans necessary to increase your working capital, allowing you to purchase inventory, hire additional employees, and expand your operations.
Improved Cash Flow
We can help improve your cash flow by providing a lump sum of cash to cover expenses, pay bills, and support ongoing operations.
Access to Equipment and Technology
With our small business loan, you can purchase equipment and technology necessary to remain competitive and improve operations, from software and hardware upgrades to purchasing new machinery.
Expansion and Growth Opportunities
Our business loans can be used to finance new projects, expand operations, and explore new markets, allowing you to take advantage of growth opportunities as they arise.
You can also use our business loans to consolidate multiple existing debts into one manageable monthly payment, allowing you to make financial management simpler, as well as reduce interest rates.
Better Financial Planning and Management
By taking out a loan from us, you can create a clear small business plan for using the funds and establish a set timeline for repayment, enabling you to improve financial planning and management.
We have business loans that can provide you with the financial support needed to stay ahead of your competition, as well as allow you to invest in new products, services, and marketing campaigns.
Improved Credit Standing
Taking out our business loan and making on-time repayments can help small business owners like you improve your credit standing, making it easier to secure financing in the future.
Our business loans may come with tax benefits, such as tax deductions for interest paid on the loan, making it a cost-effective way to secure funding.
Diversification of Funding Sources
By taking out a business loan from us, you can diversify your funding sources and reduce your dependence on a single source of financing.
The Small Business Loans We Offer
As you can see, business loans can provide a range of benefits for small business owners in Nebraska. Through it, you can invest in your business's future, improve its operations, and help it grow and thrive.
So whether you're just starting out or looking to expand, understanding the different types of small business loans available can help you make the right decisions for your venture's well-being. Below is a list of small business loan options and other financial services available at SMB Compass:
Business Term Loans
We have term loans that can provide a steady source of funding for Nebraska based businesses. From commercial real estate to consolidating existing debts into one manageable monthly payment, it's a great option for addressing short-term needs or investing in long-term business opportunities.
Business Lines of Credit
Our lines of credit can provide Nebraskan businesses with flexible, ongoing access to cash. Unlike term loans, lines of credit allow you to draw funds as needed, giving you the flexibility to respond to unexpected expenses or opportunities as they arise. You can also use it to improve cash flow, allowing you to manage their finances more effectively and respond to changes in the market.
An SBA loan can provide you access to low-cost financing and long repayment terms, making it a smart choice for those looking to achieve growth and stability. Alongside the SBA express loan, this type of lending option is backed by the U.S. Small Business Administration and offered through participating lenders like SMB Compass, providing businesses with increased access to funding and more favorable terms than they might otherwise be able to secure.
Equipment financing can help borrowers in Nebraska secure the equipment they need to improve their business' operations and stay competitive. With this loan option, you can purchase new or used equipment without using cash or liquid assets, thus preserving your financial flexibility. You might also enjoy certain tax benefits, as well as improve cash flow.
We offer asset-based lending so companies in Nebraska can have access to fast and flexible financing based on their assets. This type of lending allows you to use your assets, such as accounts receivable, inventory, and equipment, as collateral for a loan. With it, you can secure financing quickly, even if you have poor credit or limited cash flow.
We also offer bridge loans for small businesses in Nebraska that need short-term financing to help bridge the gap between their immediate needs and long-term funding. This type of loan is typically used to address unexpected expenses or opportunities. And it also allows you to secure quick funding while they work on taking out more permanent financing.
Inventory financing can help any small business in Nebraska manage their cash flow and grow their operations. This lending option allows you to secure funding based on the value of your inventory, increasing your flexibility to purchase new inventory, grab prime commercial real estate, invest in marketing and sales, or address unexpected expenses or other business needs.
Invoice financing can help you improve your cashflow as well as manage your finances more efficiently for your small business in Nebraska. This loan allows you to secure funding based on their accounts receivable, giving you access to working capital that can be used to address unexpected expenses or invest in growth.
Purchase Order Financing
We provide purchase order financing for small enterprises in Nebraska that need to fulfill large orders or grow their operations. This loan allows you to get the money needed to purchase goods to fulfill customer orders, giving you more flexibility to take on new business opportunities without sacrificing their financial stability.
Frequently Asked Questions
Are small business loans hard to get?
No, small business loans aren’t hard to get as long as you have the right tools and resources. At SMB Compass, we also provide technical assistance to anyone who needs it. Anyway, here’s a list of what you need to do to increase your chances for approval:
Know what lenders are looking for (revenue, collateral, personal and business credit score, and industry preferences)
Decide on the type of loan for your business.
Look for potential lenders and gather the necessary documents.
Work with a financial advisor like SMB Compass. We’ll walk you through the entire process – from filling out the initial online application to submitting your application to our network of lenders to closing the deal.
What are the requirements to get a business loan?
Loan requirements vary depending on the lender you’re working with and the type of loan you’re applying for. Here’s what we usually look for from borrowers:
1-page online application
3 to 6 months’ worth of bank statement
at least two years in business
What disqualifies you from getting a business loan?
In general, the factors that disqualify you from getting a loan are as follows:
Limited cash flow
Poor credit history
Lack of a solid business plan
A risky industry
Insufficient time in business
Missing documents or information
What’s the limit for a small business loan?
The loan limit depends on the type of loan you’re looking for.
Business Line of Credit: $5,000,000
Inventory Financing: $10,000,000+
SBA Loans: $5,000,000
Invoice Financing: $5,000,000
Business Term Loans: $5,000,000
Equipment Financing: 100% equipment value
Purchase Order Financing: $10,000,000
Bridge Loan: $5,000,000
Asset-Based Loans: Up to $100,000,000
What is the minimum amount for a business loan?
The minimum loan amount depends on the type of financing you’re looking for.
Business Line of Credit: $5,000
Inventory Financing: $25,000
SBA Loan: $50,000
Invoice Financing: $25,000
Business Term Loans: $100,000
Equipment Financing: 100% equipment value
Purchase Order Financing: $25,000
Bridge Loan: $25,000
Asset-Based Loans: Up to $100,000,000
How to choose the best online lender for a small business loan?
The first step to choosing the right lender for you is to know what you need. How much money do you need to borrow? What do you need it for?
The next step is to research and compare different lenders. Verify their credibility by checking their rating on the Better Business Bureau, reading online reviews, and looking for upfront loan terms, an official website, and contact information.
Get Premium Financial Services From SMB Compass
Need financial assistance to build or grow a business in Nebraska? Better call SMB Compass!
With our fast application process, financial expertise, and a plethora of loan options, we can provide you with the funding needed to help your small businesses succeed.
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