Business Revenue Lending

Description:

Low Doc, short term(3-18 month) loan designed to inject needed revenue into a company while leaving as much revenue in the business cycle as possible with daily ACH payments on business days. (No weekends or Holidays) Loan amounts generally are 10-14% of annual gross revenue that flows through the business bank account. Term and rate is determined by business credit profile, time in business, industry, and owners FICO.

Submission:
  • Business Revenue Application 3 pages (COMPLETELY FILLED OUT)
  • Last 6 months of ALL company bank accounts
  • Last 6 months of Merchant Statements (if MCA loan)
  • To expedite the process we request these documents are separated and in PDF format.
    • Example: Dex Small Pony INC June Bank.pdf Dex Small Pony INC Application.pdf

Once legible and completed documents are received the file is reviewed by a Finance officer and you will be contacted within 24 hours to discuss findings and all options available to client.

Minimum Requirements for Submission:
  • Time in business: 6+ months
  • Deposits: 8+ (revenue deposits not transferred or discretionary credits)
  • Non-sufficient funds: <3 per month (certain exceptions allowed)
  • Negative balance days: <3 per month (certain exceptions allowed)
  • Monthly gross deposits: 10K+ (consecutive last 6 months)
  • Owners FICO: 500+
Sweet Spot:
  • TIB: 3+ years
  • Monthly Gross: 50K
  • Owner FICO: 600-690
Additional Info:
  • Collateral Required: Consistent revenue verifiable on bank statements
  • Loan Amounts: $5,000-1,000,000
  • Term: 3-18 months
  • Rates: 10-45%
  • Credit Requirements: 520 credit score or higher, no bankruptcies
  • Details: Business must earn annual revenue of $150,000 or more per year, must be in business for a year or more, business must do over 10 small transactions each month, financial services industries are prohibited, damaged credit is acceptable
  • Deal Submission requirements: Application, 6 months business bank statements