Fast Business Loans
How much are you looking for?
$10,000 – $5,000,000
Starting at 5.75%
as quick as 24 hours
What are the different types of Fast Business Loans?
If you’re like most small business owners, you understand maintaining a healthy cash flow is a huge factor in the success of your business. Unfortunately, many businesses struggle with cash flow. It’s not uncommon for business owners to need the help of a fast business loan in order to help cover the costs of daily operations, business opportunities, inventory purchases, or the upgrading of equipment.
Here at SMB Compass, we understand that your business needs require immediate attention. That’s why we provide small businesses with fast loans. Our flexible range of loans come with rates starting as low as 5.25% APR together with a 24 to 48-hour closing times.
In fact, we offer eight different types of loans for every business need imaginable. If you need financing now and want to know more, you can talk to our lending expert today with absolutely no obligation on your part. The following is what we can help you with.
Business Lines of Credit
If you’ve used a credit card before, then no doubt you already have an idea on how a business line of credit works. Once approved, lenders assign you a predetermined credit limit which you can draw on whenever you need to. You only pay on the money you’ve withdrawn plus the interest.
The Small Business Administration (SBA) created SBA loans to help small business owners secure much needed financing. The SBA itself doesn’t lend you the money, but they do guarantee up to 85% of your loan in order to mitigate the risk for lenders.
If you’re looking to purchase an expensive piece of equipment for your business, equipment financing is the best loan program for you. You can use this type of financing to purchase or lease vehicles, office furniture, machinery, and much more. Contact us today!
An asset-based loan is a type of financing secured by your existing assets or collateral. If your business has inventory, accounts receivable, purchase orders, machinery and equipment, commercial real estate, marketable securities, or intellectual property, which you can use as collateral, you are a prime candidate for an asset-based loan. Apply today and find out!
Multi-Year Term Loan
A Multi-year term loan is a type of loan that comes with long repayment schedules, ranging from two to five years. These longer repayment terms also come with low monthly payments that promote healthy cash flow for small businesses. Once approved, your company will receive funding in as little as three to five days. To qualify for multi-year fast business loan, you will need to have a strong business trade credit, as well as good personal credit and a history of positive cash flow.
Merchant Cash Advance
With a merchant cash advance you receive a lump sum of cash up front. You are then free to use the funds to finance your business operations. But unlike other types of loans, you are not required to pay back the loan with monthly fixed payments. You simply make payments by withholding a percentage every time a client purchases via a credit or debit card. A merchant cash advance is perfect, if you are in need of a fast business loan due to the fact you will receive your funding within 24 hours.
Invoice financing is a type of funding where you as a business owner sell your outstanding invoices to third party companies. These funding companies will then pay you 80% to 90% of the total value from each invoice, giving you instant cash. You’ll be able to receive the remaining 10% to 20% once your customers pay their invoices, minus a small lender’s fee.
Bridge loans are short-term loans created to address immediate funding needs. This type of loan is best used when you have the need to bridge a cash flow gap, leverage on a business opportunity, or pay for an unexpected or unforeseen expense. Instead of draining your savings or passing on an attractive business opportunity, a bridge loan can cover these costs for you. The best part? These funds can be wired into your account within 24 hrs. or less.
Fast Business Loans for Every and All Industries
SMB Compass has funded over 1,000 small business operations in the United States. We’ve worked with numerous industries and continue to provide them with fast business loans whenever the need arises. A sampling of the industries we have served include:
- Doctors/Medical Practices
- Beauty Salons/Spas
- Retail Stores
- Auto Repair and Sales
- Landscaping Services
- Toy/Gift Industry
- Accountants and Auditors
- Veterinary Financing
Plus, many more!