Explore different types of business lending programs tailored to meet your specific needs, and let us be your trusted partner in achieving success.
Business Term Loan
Applicable Scenarios
| Working Capital for monthly expenses or seasonal business support |
| Purchase of vehicles or equipment (from a dealership, private party, or under your personal name). |
| Refinance other debt to lower the monthly payment or interest rate |
| Down payment for real estate rental or purchase, warehouse or office building upgrade. |
| Debt Consolidation |
| Expansion or acquisition of another entity |
Details
A business term loan offers financial predictability. You should choose a term loan when you are clear about the purpose and amount of the funds. When you sign for a term loan, the interest rate, monthly payment (which covers both principal and interest), and repayment period are all fixed. Usually, it is funded by a lump-sum disbursement.
The maximum loan amount depends on the business’s cash flow and the value of collateral.
Reach out to us and check if you qualify fo
Business Line of Credit
Applicable Scenarios
| Cover the gap for accounts receivable |
| Covering payroll gaps |
| Purchase an item that doesn’t qualify as collateral for a term loan or equipment finance |
| Emergency expenses or opportunistic purchases |
| Reserve or backup funds |
Details
A business line of credit is a revolving line with variable interest rate . A line allows businesses to access the cash immediately when needed. The way it works is similar to a credit card – as the borrowed amount is repaid, the credit becomes available again during the draw period. Interest is charged only on the amount of the line of credit that is actually utilized, not on the total credit limit.
You should choose a business line of credit if you are uncertain about the timing or amount of funding needed.
A line of credit often has a draw period during which businesses can use the funds, followed by a repayment period where they must repay the borrowed amount. By the end of the draw period, business owner can choose to renew the line, or convert the balance to a term loan.
Please note that maintaining a high utilization rate on a business line of credit for a long period of time will impact your business credit score negatively.
Equipment Finance
Any items that can generate income for the business will qualify for equipment finance.
Applicable Scenarios
| Purchase any type of vehicle and machine |
| Purchase or import machine from foreign manufactures or platforms |
| Computer server or software design, purchase or installment |
| Production or assembly line design, purchase or installment |
| Purchase customized truck |
| Purchase commercial used office supplies, such as heavy duty printer |
| Purchase commercial restaurant equipment |
Details
Compere to a business equipment term loan, equipment finance is more flexible on collateral. Equipment finance could also cover some soft cost associated with the equipment purchase, such as sales tax, installation fee, delivery fee, warranty, etc.
Most of equipment finance programs offer flexible payment options, such as quarterly or annually, to accommodate the specific business models and and seasonal patterns.
Commercial Real Estate
Financing Options
| Commercial Real Estate or investment property purchase |
| Refinance |
| Commercial Real Estate Cash out (2nd lien is acceptable) |
| Commercial Equity Line of Credit |
| Construction Loan |
| Commercial Real Estate Hard-Money Loans |
| Land Loan |
Details
Before seeking a commercial loan, you should at least have a rough idea of the amount you need, purpose of the loan, details regarding collateral, and the cap rate.
When shopping around for lenders, it’s recommended to inquire about the estimated interest rate, processing time, required financial documents, application fees, minimum down payment requirement, and maximum loan-to-value ratio.
SBA Loan
Most Commonly Used Types of SBA Loans:
| SBA 7(a) | For general business needs |
| SBA 504 | Fixed Asset Purchase (Equipment, Real Estate) |
| SBA Express | Quick Approval |
| SBA Microloans | Small amount, short-term needs ($50k or less) |
| SBA Export Loan | Support export business and international sales |
Details
An SBA loan is guaranteed by the U.S. Small Business Administration. It’s set up to support the development of small businesses that the lender does not lend to under their conventional programs.
SBA loans provide more flexible terms, lower down payment requirements, and an easier qualification process than conventional loans. Borrowers must be U.S. permanent residents or citizens with a minimum personal FICO score of 650.
In addition to the requirements set by the SBA, lenders will also have their own business loan requirements you must meet.
Check with us today to identify the type that best fits your needs and situation!
Startup Business Loan
The recent establishment date of a business does not automatically disqualify it from obtaining any business loan, nor does it restrict the business to high-interest loans only. Lenders may approve a business loan based on factors such as the owner’s experience in the same industry, loan amount, personal credit score, collateral, and relationships with banks, among other considerations.
Reach out to us today to check your new business qualifies for any business lending programs.
High Limit Business Credit Card
A business credit card never asks for collateral and is primarily based on credit score. Therefore, it’s much easier to obtain a business credit card compared to a business loan or line of credit.
Also, if you are planning to make a large purchase, using a 0% APR credit card with cash back can even benefit you more than a business line of credit or term loan.
For established businesses, the typical credit limit on a business credit card ranges from $20,000 to 40,000. By providing additional documents to the bank, you have the opportunity to secure an even higher credit limit.”
Reach out to us today to get a high limit business credit card!
Merger & Acquisition
You can get a loan when acquiring or merging with another business. Loan qualifications include business valuation, a letter of intent, credit scores, and required financial documents from your company and the M&A target company.
The loan amount is usually determined by the cash flow and the valuation of the company.
Reach out to us today to check if your M&A deal qualifies for an M&A Loan!
Cash Flow Financing
Loan Programs
| Merchant Cash Adcanve |
| Invoice Factoring |
| Bank Statement Cash Advance |
Details
Most lenders typically accept four types of collateral only: general business assets, inventory, accounts receivable, or tangible assets like real estate, vehicles, or equipment.
hen the business is rejected by most lenders in the market due to insufficient cash flow on recent business tax returns or lack of valuable collateral, some lenders may still approve the loan based on cash flow alone.
However, these loan programs typically carry a high-interest rate, often double the prime rate.
Reach out to us today to learn more about cash flow financing!
Debt Consolidation
When to pursue debt consolidation
| If you are making high-interest rate payments on credit cards or variable interest rate lines of credit. |
| If you are making multiple monthly payment through various portals. |
| Before the high utilization rate on a revolving account damages your personal or business credit score. |
| Preventing further debt accumulation |
| After there are positive changes in income |
| Access to favourable loan term |
Details
Debt consolidation is a financial strategy to lower the interest rate and monthly payment on your existing debt and balance on your existing revolving line.
Reach out to us today to check if debt consolidation will benefit you!
Unlock Your Business Potential with the Right Financing!
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Union Funding Solutions 