How To Get The Best Bank Statement Business Loan
For Business Owners that have bad or challenged credit, or just do not meet the more stringent underwriting criteria for traditional bank financing, a bank statement business loan can be a great option. For those Business Owners, we’re going to review how to get the best bank statement business loan.
Whether it’s a new amazing opportunity to grow your business, or an unexpected challenge. As a Business Owner, you never know when you are going to run into an unexpected expense. A business bank statement loan is primarily based on the revenue of the business, and can be a great way to get a quick loan for your business.
Luckily, since there is such a large demand for this type of product, there are several Lenders that specialize in Bank Statement Business Loans.
Best Bank Statement Business Loans
Working Capital
A Business Working Capital Loan is a short-term, revenue based loan that is a great option for Business Owners that have bad or challenged credit.
Term Loans
A Business Term Loan typically has a fixed funding amount, with fixed terms, and can be used for any number of business expenses.
Line of Credit
A Business Line of Credit, is a revolving credit line for your business. Like a typical line of credit, you can pull from the credit line as-needed.
Every Business is unique, and so are their business funding needs. Depending on what you are trying to accomplish, one of these quick, and easy, same day business funding programs will work best for your business.
Compare Loan Options
Bank Statement Business Loan Uses
You can use a bank statement business loan to help cover any business related expenses. Once the funds are deposited into the business bank account, you can spend the money however you see best fit.
Some common uses for a Bank Statement Business Loan include:
- Repair or Purchase Equipment
- Upgrades & Renovations
- Cover Payroll & Insurance
- Increase Marketing Budget
- Purchase Inventory and Materials
- Business Expansion
How To Get A Bank Statement Business Loan
These quick and easy business loans are designed to help all types of businesses. Including newer, less established, businesses. Your business just needs to meet the following criteria to be eligible to apply:
- 3 Months Time In Business
- Minimum Of $10k In Monthly Revenue
It only takes a few minutes to complete the easy online application. Once the application is complete, simply provide the most recent business bank statements, and you can get approved in minutes.
Once approved, select the quick business loan terms that work best for your business, and get funded today.
