Financial Requirements for Business Lending

When your business is in need for some additional capital to expand, remodel, purchase new equipment or anything else that you feel will improve your profitability there are few options available today. Your first contact will most likely be your local banker or the SBA and there are some benefits to a traditional bank loan, (low rates, large loan amounts, etc…), but there are also some drawbacks.

Most times a bank will also require a personal guarantee, so if the loan defaults for whatever reason you will still be personally responsible for the repayment. Traditional business bank loans require a fixed payment each month, so no matter what your business took in that month your payment amount to the bank remains the same. As well as demanding a much higher degree of oversight on how the money is spent, banks and other lending institutions will require you to provide full financials, including profit and loss statements, balance sheet, and complete tax returns with all schedules for at least the past two years on your business and you personally.

In contrast a business cash advance from Pro Business Capital requires very little in the way of financial information. You are not required to provide your complete financial records and no tax returns are needed. In most cases you will simply fax/email us documentation of the last 4-6 months of your credit card sales and usually within only a few hours we will have determined how much of an advance your business qualifies for, your funds can be delivered to you typically in about a week. You can have the money you need today to help grow your business tomorrow.