by admin | Mar 9, 2022 | Business Funding
If you are looking for ways to fund your new business, then you have come to the right place. This article will discuss what it takes to get a loan for your new business, as well as provide some tips on how to make applying easier. We also provide links that will help take care of many of the steps required in getting approved for a loan!
How to Get a Loan for Your New Business
Get a business plan and create a budget to help you keep track of your spending. This will be beneficial in case anything changes during the loan process, or if there is any unexpected spending that takes place.
Visit an accountant for tax preparation services. If you are self-employed, then it may easier than trying to do this yourself. An accountant can also prepare financial statements which lenders often require when deciding whether they want to lend money to businesses like yours. Additionally, getting this information ahead of time means less waiting time at the bank!
Create a credit report from the three major reporting agencies. A combination of all three reports is necessary to get an accurate idea of your credit score. This is a great way to find out what you need to improve in order to get the approval that you want.
Determine how much money you will be applying for and when it will be needed. Lenders often determine whether or not they can lend money based on your ability to repay it back with interest, so this needs to be taken into account.
Search online for banks that offer loans, and call ahead if possible. Banks will often ask you some initial questions about your business over the phone before setting up an appointment with one of their loan officers who can provide more details on what they require in order to be approved. If it isn’t feasible for you to meet face-to-face at this time, make sure there are other options available such as Skype or Google Hangouts so that communication can still take place!
Prepare to demonstrate your ability to repay the loan. This is the most crucial information for lenders to have. It might be tough to demonstrate your ability to repay or “service” a loan as a new business owner. Make sure your finances are in order and that your business strategy includes detailed financial information. Be realistic and don’t overestimate your expectations. Have proof on hand if you’ve been in business for a while and can show that your profits exceed your expenses.
It’s likely that you’ll have to personally guarantee the loan. Entrepreneurs’ enterprises don’t always have enough relevant assets to guarantee a loan. As a result, the business owner, as well as any co-applicants or extra guarantors, will be required to provide a personal guarantee to the lenders. This means that in the case you are unable to repay the loan, you (and possibly cooperative partners, friends, or family who secure the loan with you) will be required to pledge personal assets as collateral.
Be open and honest about your financial situation. Not everyone has excellent credit or a clean financial record. Give specifics about any current or previous issues that may have harmed your application. They’ll almost certainly be detected during the procedure. A bad history does not automatically disqualify your application, and it is preferable to disclose facts up front rather than explain afterwards. Being truthful will also demonstrate your dependability.
Recognize the many types of company loans available. Each source of funding has its own set of advantages and disadvantages, as outlined in last week’s blog. Because they lend to credit-worthy firms and are regulated by the government, banks can offer low-interest loans and lines of credit. Many new small firms, on the other hand, may not match their requirements. Banks also provide credit cards, but the interest rates are typically substantially higher, rising to 18-29 percent if cardholders fail to make payments. Find the best funding option for your company and financial situation.
Be wary of the creditor. Make sure you know what your loan’s effective interest rate is. Small business loans are now available from a variety of different sources, including the internet and non-bank lenders. These organizations are not regulated, and some use different methods to calculate a “factor rate.” While these rates may appear to be low at first glance, when you convert them to the equivalent of an annual percentage rate (APR), you’ll see a much higher number, often in the high double digits or even three digits.
Entrepreneurs can take efforts to prepare for a small business loan application. Two crucial measures you may take are to demonstrate that you understand your business and have done your study. If your credit history isn’t great or you don’t have enough collateral, be upfront about your financial condition and enlist co-applicants. Prepare a business plan and keep it up to date when business and market conditions change. If necessary, get assistance from mentors or specialists. Finally, borrow the appropriate quantity of money, not too much or too little.
by admin | Jul 10, 2018 | Financiamiento compra equipo, Linea de crédito empresarial
Empire Merchant Group ofrece financiamiento para compra de equipo con aprobaciones en 48 horas!
¿Quiere renovar o comprar equipo o maquinaria nueva para su
negocio?
Puede ser un desafío reemplazar su equipo o comprar uno nuevo. El financiamiento de equipos ayuda a obtener todo lo que
necesita para que su negocio tenga éxito. A veces, estar al día con la tecnología o la compra de nuevos equipos puede reducir su flujo de efectivo, pero con tasas de interés bajas para el financiamiento de equipos, aprobaciones rápidas y tarifas bajas, podrá satisfacer las necesidades de su negocio.
Contáctenos para una entrevista inicial de financiamiento para compra de equipo
Desde que usted solicita una cotización para la compra de equipo, el préstamo es generalmente rápido y fácil. Puede obtener todo el financiamiento para hacer crecer su negocio, como maquinaria, camiones, vehículos, computadoras o cualquier otra necesidad. Todas las industrias y tipos de negocios califican para el financiamiento de equipos, también se toma en si su puntaje de crédito no es el mejor. En algunos casos, el equipo responde como garantía.
En Empire Merchant Group, LLC tenemos diferentes opciones,
• Con garantía
• Sin garantía
• Pagos Mensuales
Si no tiene a mano el dinero extra, solicitar un préstamo es una forma de ayudarlo a obtener el equipo que necesita sin tener que depositar dinero por adelantado.
Beneficios de solicitar un préstamo:
– Manténgase al día con la nueva tecnología
-Aumentar su rango de distancia obteniendo más flota de automóviles / camiones
-Expandir su restaurante o bar, comprando nuevos suministros para ayudarlo a competir en el mercado.
– Ayuda a construir su crédito comercial
La variedad de equipos nuevos que compra con el préstamo de equipo está limitada a su imaginación. Por lo tanto, después de señalar sus beneficios, hablemos de tarifas bajas importantes. Normalmente, cuando hablamos de tarifas nos ponemos un poco escépticos ya que usted es el propietario de una empresa y busca la mejor tarifa. Encuentre a continuación un cuadro
de diferentes tipos de financiamiento y tarifas.
| Tipos de préstamos |
Monto máximo |
Tasa de intreses |
| Financiamiento de Equipo |
Hasta del 100% del valor del equipo |
8 – 30% |
| Prestamo para la pequeña empresa |
$5K – $5M |
Empezando en 6.75% |
| Préstamo a Plazo |
$25K – $500K |
7 – 30% |
| Linea de credito comercial |
$10K – $1M |
7% – 25% |
Cuando se trata de solicitar un préstamo para Equipo o Maquinaria
para su negocio en Empire Merchant Group le ofrecemos:
Pre-calificación en menos de 5 minutos
Aprobación el mismo día
Fácil papeleo
En Empire Merchant Group, LLC consideramos que las necesidades de su negocio son nuestra prioridad sin problemas, con un proceso de papeleo sin tanto dolor de cabeza y una rápida aprobación. Si esto es algo que está considerando para hacer crecer su negocio, ¡Llegó al lugar correcto!
Contáctenos para una entrevista inicial de financiamiento para compra de equipo
by admin | Jul 10, 2018 | Financiamiento compra equipo, Linea de crédito empresarial
Por qué Empire Merchant Group, LLC es la mejor fuente de Financiamiento Empresarial.
Nuestras líneas de crédito son aprobadas 100% en línea y en menos de 10 minutos!
Dirigir su propia pequeña empresa no es tarea fácil. Cuando eres el jefe y tienes el control de tu propio plan de negocios, puede ser estresante saber que tu bienestar y el de tus empleados están ligados al logro de tu idea. La mayoría de las nuevas empresas se ven obligados a cerrar dentro de los primeros años de funcionamiento, las probabilidades están en contra de las
pequeñas empresas. Los restantes permanecen abiertos porque se vuelven creativos, innovadores y no temen mirar fuera de la caja para aumentar su flujo de efectivo y optimizar sus resultados.
Usted puede ayudar a aumentar su flujo de caja y hacer que su negocio sobreviva. Aquí señalamos algunas formas de aumentar su flujo de efectivo
• Revisa tu estrategia de precios
• Agregue todo tipo de métodos de pago
• Trate de contratar un buen Contador para que le lleves sus finanzas
• Configure su facturación de forma automatizada
Poner estos puntos en práctica lo ayudará a tener un crecimiento en su negocio y a aumentar el flujo de sus clientes.
Sin embargo, muchos propietarios de negocios quedan atrapados en la fase de proyección, centrándose en la perspectiva de ganancias a futuro, sin el capital operativo para llegar allí. Si desea que su negocio crezca, es fundamental que explore formas no solo de alimentar su futuro, sino también de encontrar maneras de desarrollar su flujo de efectivo operativo
para el presente.
Ahora que le dimos algunos consejos que le ayudarán a hacer crecer sus finanzas y su pequeña empresa, recuerde que esto no es una solución única, las empresas exitosas implementan constantemente sus métodos y procesos.
Aquí, en Empire Merchant Group LLC, queremos que triunfe como emprendedor, con nuestra línea de crédito para todo tipo de industrias. Una línea de crédito tiene una flexibilidad incorporada creada principalmente para que crezcan los propietarios de pequeñas empresas. Ayuda a expandir, comprar más inventario y obtener una nueva flota de camiones o más pero lo más importante es que nuestra línea de crédito son préstamos que no requieren garantía.
by admin | Jul 7, 2018 | Business Funding, Equipment Financing, Line of Credit
Why Empire Merchant Group is the best source for business funding?
Empire Merchant group funds business owners in 24 hours or less!
Administrating your own small business is not for the faint of heart. When you’re the boss, and in control of your own business plan, it can be stressful knowing that you and your employee’s well being are tied to the achievement of your idea.
Most of new businesses are shutting down within the first years of operation, the odds are stacked against small businesses. The remaining ones stay open because they get creative, innovative, and aren’t afraid to look outside the box to boost their cash flow and optimize their bottom line.
You can help grow you cash flow and make your business survive. Here we point out some ways to increase your cash flow
- Review your pricing strategy
- Add variety payment methods
- Try to get a good small business accountant
- Setting your invoicing automatically
Putting these points into practice will help you have a growth in your business and to increase your customer flow
However, a lot of business owners get caught in the projection phase, focusing on the prospective for future profits, without the operating capital to get there. If you want to see your business grow, it’s critical that you explore ways to not only feed your future, but find ways to develop your operational cash flow for the present.
Now that we gave you some tips above that will help to grow your finance and small business, remember this is not a one time fix, successful businesses are constantly implementing their methods and processes. Here at Empire Merchant Group we want to see you succeed as an entrepreneur, with our line of credit https://empiremerchantgroup.com/line-of-credit/ for all type of industries.
A line of credit has built-in flexibility mainly created for small business owners to grow. It helps to expand, buy more inventory and get a new truck fleet or more. https://empiremerchantgroup.com/line-of-credit/ but most importantly our line of credit are unsecured loans. Meaning that there is no collateral backing the line of credit.
by admin | Jul 7, 2018 | Business Funding, Equipment Financing, Line of Credit
Lines of Credit at Empire Merchant Group.
It takes only 5 minutes to get approved for a Line of Credit with us.
There are several reason why you may choose a line of credit over a traditional loan. A line of credit gives you access to money “on demand. With a traditional loan, you get a bigger amount of money and immediately begin paying the loan back, regardless of when you actually use the money. But a line of credit lets you borrow the amount you need when you need it and you start paying when you tap into those funds.
Flexibility is the most important part of a line of credit since you will only pay interest when you borrow on the line of credit. Once the amount borrowed is paid, the funds are available for you to borrow again. You can choose when to take out the money, pay it back and repeat, as long as you stick to the terms, including paying off what you borrow on time and in full.
Important Facts:
- Make sure you understand difference between loans and a line of credit
- Secure: Using a secured line of credit, the lender may take possession of the collateral.
- Unsecure: If you know exactly how much you need and you don’t want to use collateral.
- Do don’t need a high credit score to apply for a line of credit at Empire Merchant Group https://empiremerchantgroup.com/line-of-credit/
- If you need a flexible way to access money, it may be a good idea to ask for a line of credit
The best option for your company is certainly a line of credit. They work like credit cards, except without a minimum monthly payment. There are higher interest rates involved, but on the other hand you’re also only paying back what you actually spend. In many ways this balances the increased payments you’re making. Basically if you ever wished to borrow money when you need it most without the hassle of the paperwork of a traditional loan a line of credit is the way to go. So before taking out a secured or unsecured line of credit, be sure you have a plan for using the money and paying it back.
Here we give you some example of ways you can spend your funds obtained by a line of credit.
- Emergency expenses
- Last minute major purchasing
- Complementing your income when is not regular
Empire Merchant Group offers you the best line of credit on the market and cero headache when it comes to paperwork, including low credit score, with the lowest rates. It also applies for all industries and all businesses. For more information go to https://empiremerchantgroup.com/line-of-credit/
