Small Business Loans up to $500,000

Choose the solution that best fits your needs

Fund in Days

Fund in Days

Explore Options for Financing When You are Free

Schedule a call

Funds in 2 Days

Funds in 2 Days

Speak With an Expert for Best Options

Click to call

Fund Today

Fund Today

Get the Best Business Deals Right Now

Apply Online

We have funded over 2 billion dollars to businesses across America.

Guide to Small Business Loans

How to get a small business loan?

The mountain of requirements are easier to move, the more prepared you are. Let’s look at how to get a business loan in five steps. Preparing yourself for the application can make your funding process that much easier. Let’s look at how you can get a business loan in five steps with Strategic Funding Source.

  • Start your application

  • Complete application

  • Submit documents

  • Accept your offer

  • Receive your money

1

Start your application

Begin your application if you need to manage day-to-day expenses, expand your business or have a nice safety cushion. To qualify for a loan you must have enough years in business and enough revenue to support working with a small business lender.

2

Complete application

One of our funding specialists will give you a call to go over your application to ensure that you will be offered the best possible funding option for your situation.

3

Submit documents

Be prepared to submit an updated bank statement of the last 90 days to your funding specialist.

4

Accept your offer

Receive your small business loan offer. Review the terms and conditions and accept your offer.

5

Receive your money

We deposit the funds into your account for you to grow your business.

Are you ready to speak with a sales specialist?

Guide to Small Business Loans

What are the requirements for a small business loan?

Tight lending standards by banks, large financial institutions, makes getting a business loan nearly impossible for a small business. The top requirements for a business to receive a business loan are your time in business, annual revenue, and credit score. The more prepared you are to obtain a business loan from business lender requirements, the faster you will get your funding.

  • Time in business

  • Annual revenue

  • Credit score

1

Time in business

You need to have over 1 year in business to qualify for a small business loan. If you do not meet this requirement, please check our small business resources below.

2

Annual revenue

A business lender will pay close attention your annual revenue. This will help determine what product you qualify for, the amount of the loan, and the repayment schedule.

3

Credit score

Make sure you have a clean credit report before applying for a loan or you will need verify that the information is in fact erroneous; this will impede the process of quickly receiving your business loan. Remember that your businesses payment history has the biggest impact on your FICO score. As always with business loan approval process, credit checks do not hurt your credit score.

What if I do not meet the requirements for a small business loan?

We offer small business advice to funding your business at any stage of your journey. Growing, managing, or starting a business we have articles on where, how and what loan options are available to your business. Beyond being a direct lender, we are also a lending marketplace, ensuring that we find the best product that fits your needs. If we are unable to find a match from our partners, we offer small business advice to get your business closer to being approved. Whether it’s growing, managing, or starting a business, we have articles on where, how and what loan options are available to your business and how to get your business ready to meet their requirements.

The best questions businesses ask us.

What financial documents are needed in a small business loan application?

A business lender’s requirements become more extensive when longer terms (and lower prices) are requested. Below is a general understanding of the documents needed for small business loan applications. Remember that small business loans are very extensive applications and intensity of the application depends on the loan product you apply for.

Business bank statements

Bank statements are a document you will always be expected to provide from the last 12 months of business. Be prepared to submit whatever history length a business lender asks for if you want your loan.

Balance sheets

Statements of financial position are requested by business lenders. They will request an updated balance sheet to view the ‘financial snapshot’ of your company’s financial health.

Profit and loss statement

Business income statements are commonly known as profit and loss statements. Business lenders will want to know your P&L for the last year, as well as the business Year to Date, YTD, version that has been updated within 45 days. This will determine the cash flow of the business and if your company can meet existing and proposed debt obligations from the underwritten loan.

Business debt schedule

Business lenders want to know if your current business is in debt and the details of that debt. If you do, they will ask for your debt schedule to determine your current cash flow is able to meet existing and proposed deb obligations from the underwritten loan.

Business tax return

Business lenders will request to see your business tax returns from the last year. They will use your business tax return to verify revenue and key performance indicator, KPI, of your businesses financial health. Sole proprietors, LLC, and smaller corporations will be asked to submit paperwork tied into formation and ownership of your business.

What are the details of your business loan offer?

Transparency is a fundamental principle in our business process. When you receive your business loan offer we want to ensure that you understand the terms and cost of the financial product you’ve been approved for. Details you can expect in your offer are fees, borrowing cost, term, and payment schedule and as always, our specialists are ready to assist with any further questions you may have.

How do you analyze my credit report?

Your credit history explains your likeliness of paying back any borrowed money. FICO scores analyze how much of your available credit you have used, your payment tardiness, how long have you been using credit, what is your mix of credit types, and your ability to access new credit.

  • Amounts owed
  • Payment history
  • Length of credit history
  • Type of credit used
  • New credit

Why do we ask how long you have been in business?

A business lender will be hesitant to work with a new business that is not able to prove financial stability. New businesses are a risky endeavor for lenders until the business has at least 1 year of continuous operation. The largest risk for the lender is if a new business cannot remain open, they will not be able to complete their loan repayment.

Why do we ask how much money is coming into your business?

Business lenders will use your annual revenue to determine if you qualify for their products. How much money coming into your business will determine the amount and repayment schedule of a small business loan. A lender will not extend your loan if your repayment amount exceeds the amount your business brings in every month. On average you will qualify for a small percentage of your yearly revenue as this reduces the risk to the lender that your business will not have cash on hand to make loan repayment.

Get a decision within 10 minutes.

Guide to Small Business Loans

What are the fees associated with small business loans?

Cheat sheet of fees you need to understand when applying for small business loans. So when you have a few different loan options on the table, it’s important to think critically about which will be best for you—this means looking at each loan’s cost, term, and repayment structure. But when you are shopping small business loans, it can be very difficult to compare the various products on an apples-to-apples basis.

  • Origination fee

  • Application fee

  • Guarantee fee

  • Late payment fee

  • Check processing fee

1

Origination fee

This is quoted by a percent of the principal amount. An origination fee tells the cost a business lender incurs to make a loan.

2

Application fee

A business lender will charge you an application fee to recoup the cost of resources used to run background checks, credit checks, as well as the time invested to underwrite a loan. This fee is normally upfront or when the loan is closed.

3

Guarantee fee

Small business loans and SBA loans are not the same. If you have a Small Business Association loan, you pay a guarantee fee. The SBA does not directly create small business loans. A business lender must pay a portion of the SBA loan’s guaranteed amount to the government. This allows the lender to make loans to small businesses that it might otherwise ignore. This fee is often a percent of principal.

4

Late payment fee

Automated payment schedules prevent lat payment fees. It is no surprise that if your business lender does not ACH your banking account for payment, you are responsible for timely repayment of loan.

5

Check processing fee

A business lender may request their repayment schedule be processed through ACH. If you prefer to send your payments through another payment method, some companies charge you a fee to process your prefered the payment method. Discuss payment methods with a business lender before completing the deal.

How to choose the best small business loan for you?

The most important decisions in choosing a small business loan are:

  • Can you repay the loan?
  • Decide your comfort-ability with your repayment schedule
  • Have confidence and be diligent deciding on your loan company
  • Know all of the potential fees associated with the loan

Strategic Funding is a licensed California Lender | Lic #: 603G807

Strategic Funding Locations

New York, NY

120 W 45th St,
New York, NY 10036

Rockwall, TX

2500 Discovery Blvd.
Rockwall, Texas 75032

Arlington, VA

2500 Wilson Boulevard ,Suite #350
Arlington, VA 22201

*Strategic Funding Source, Inc. (“SFSI”) may from time to time notify applicant(s) of various promotional offers and other marketing information by electronic mail, telephone, text message (SMS/MMS) and/or cell phone. By clicking submit, applicant(s) consents and authorizes SFSI to call any telephone number provided by applicant(s) in this application, including cellular phone numbers and residential landlines for all purposes, including marketing and promotions. Applicant(s) is further consenting to and authorizing SFSI to use automatic telephone dialing systems or “auto dialer” and pre-recorded voice message in disseminating information, including promotional offers and marketing information, to applicant at all numbers provided by applicant in this application, including cellular phone numbers and residential landlines. Applicants agree to update the numbers provided if they change, or upon request by SFSI should an application for financing be approved. Please note that you are not required to consent to SFSI contacting you in order to qualify for financing or obtain any other products or services from SFSI. If you do not agree to be called for marketing purposes or as otherwise outlined in this section, please click here.

Start typing and press Enter to search