Instant Business Loans
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What are Instant Business Loans?
Getting approved for traditional financing through a bank is always an undertaking. The document requirements, paperwork, and credit requirements result in a lengthy process, and often, business owners find out they are not approved. Rather than waiting for a bank to approve your loan, online business loans instant approval are available, eliminating the intense document process. Instead of waiting months to get approved for a much-needed business loan, we can provide instant business loans, allowing companies to secure financing and focus on growing their businesses. Business loans’ instant approval can be closed and funded within 24 hours and have a hassle-free process.
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Advantages to Instant Business Loans
The application process to apply for business financing through a bank is a daunting task. The document list is long and can include business tax returns, personal tax returns, years of financials, and extensive application documents that need to be filled out. Instant business loan programs can require as little as a one-page application and three months of bank statements. The light document requirements and speedy process make it easy to immediate business loans for small business owners.
Approvals are immediately issued when underwriting is complete. The most significant advantage of the quick approval process is they usually are not subject to change. Once approval is given, the terms of the immediate business loans are firm, and the next steps are closing documents. Requirements for closing are typically a short list of information to help verify the original documents provided. As an example, a business tax return might be requested to verify ownership of the company.
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Types of Instant Business Loans
Instant equipment loans are available for small business owners that are looking to borrow less than $250,000 for equipment. These programs are available to a wide range of industries and include; transportation, medical, construction, retail, manufacturing, wholesale. The online application process is document light and can be completed in just 5-10 minutes. The document list needed for an approval is a one-page application, equipment invoice, 3 months of bank statements, and credit report for the business owner.
Quick invoice financing programs allow instant small business loans to access capital based on outstanding invoices. These programs are designed to accelerate and improve cash flow rather than waiting 30-90 days for customers to pay invoices. This flexibility enables companies to act quickly, improve working capital, and focus on growing their businesses. The application package consists of a simple application, a copy of an A/R aging report, and the invoices you’re looking to finance.
Small businesses frequently come across opportunities where they need to act quickly. Bridge loans are instant small business loans designed with a speedy process to enable business owners to strike when the time is right! The terms for bridge loans range from 3 to 18 months and loans can be closed in just a few hours. Documents required for bridge loans are as easy as it gets. With just an application and bank statements bridge loans can be approved up to $500,000.
Lines of Credit
Like bridge loans, business lines of credit instant approval can be closed and funded almost instantly. The most significant benefit of a business lines of instant credit approval is the flexibility in draws and repayment. Unlike a bridge loan, all the money is not funded at one time. Business owners have the flexibility to draw as needed and use the money when the time is right. Often referred to as standby capital, business lines of credit provide a cushion for when capital is required. Business owners can apply for a business line of credit up to $250,000 with a one-page application and three months of bank statements.
How to use Instant Business Loans
Instant small business funding provides a cash cushion for business owners to use for ongoing working capital. Frequently daily expenses are unaligned with customer payments and sales. When this is the case, a cash flow gap needs to be filled. Utilizing instant business loans provides instant small business funding with the needed working capital for ongoing operations and potential opportunities.
Machinery and Equipment
Lines of Credit
Similar to bridge loans, business lines of credit can be closed and funded almost instantly. The biggest benefit of a line of credit is the flexibility in draws and repayment. Unlike a bridge loan, all the money is not funded at one time. Business owners have the flexibility to draw as needed and use the money when the time is right. Often referred to as standby capital, business lines of credit provide a cushion for when capital is needed. Business owners can apply for a business line of credit up to $250,000 with a one-page application and three months of bank statements.
Hiring new employees or investing in new marketing and advertising campaigns are revenue-generating investments that help companies grow. When cash isn’t available, small businesses can use instant small business funding to expand their companies. Other growth opportunities include acquiring other businesses, opening new offices, and expanding product offerings.
Criteria and Eligibility for an Instant Business Loan
The documents needed to apply for an instant business loan often depends on what the money is being used for. For general working capital needs, such as payroll, inventory, or just an infusion of cash, the process is quick and easy. With just a one-page application and 3 months of bank statements you can receive funds in as quick as a few hours. When financing or leasing equipment the only documents that would be added for underwriting is an invoice for the equipment and a copy of a credit report for each owner of the company.