Getting Credit When You Deserve it


Courtesy of Steadwin Finance

Unsecured Loans for Medical/Dental Offices is Your Medical Practice Ready to Grow?

Medical practitioners with an established track record of providing medical and dental financing to our agencies team of financial consultants and licensed loan specialists who specialize in lending to the Medical/Dental Practices to keep your clinic profitable and on track to achieve your long-term goals. No matter if you are a medical doctor or serve other medical specialties or disciplines as a holistic provider, we can provide access to the right loan product, and we can do this quickly. Thus, Financing solutions for Cancer, and Radiation Centers, Cancer Treatment Facilities, Urgent Care Centers, as well as Diagnostic Imaging Centers. Hence, our focus is to help your practice get the capital it needs to successfully manage ongoing medical issues that need financing, such as finding the cure to cancer.

Our philosophy is to get you the capital that you need when you need it. With banks and other financial institution, cognitively diminishing and tightening their loan requirements resulting from the 2008 Financial Crisis, which mean many practitioners is, forced into more expensive financial options such as merchant cash advances. Practitioners need more than medical training to success; they need capital.

Merchant Cash Advance Vs. Bank Loans

What is a merchant cash advance (MCA)? It is an alternative form of financing where a merchant service provider purchases a fixed amount of credit card receipts at a discount, usually about a 50% discount. The MCA is, paid back from a percentage of the merchant daily credit card receipts, thus as the sales go up, the payment goes up too. Moreover, this not only escalates the debt but also lowers the profit of the business, and is an expensive way of acquiring financing.

Why an Unsecured Business Loan Works

Why a Cash Advance Doesn’t Work

restaurant loan advantages

Why an Unsecured Business Loan Works Best

Transparency

With our agency bank loan program, all the lending criteria spelled out on the front page of the loan agreement. Whereas, with an MCA, this agreement fails to elaborate on the terms of the loan, the cost of borrowing funds, the payback terms, and how much money paid back daily, weekly or monthly. In the MCA, the payments are variable, which means the amount will go up as sales increases. Thus, the question is, do you want to be involved in a loan transaction that is not clear on the payback of the loan?

Affordable Terms That Make Sense

The agency and its loan partner’s concept is to provide you with loan terms that make good business sense for your particular business situation. These terms detailed in a manner that is clear and easy to understand in your merchant loan agreement.

Thus, this is determining how much your business is eligible to borrow base on a percentage of your annual sales, which includes cash and credit cards sales:

For example, if your total annual sales are $1,000,000, you may qualify for a loan amount that ranges from the following, depending upon the loan term you qualify for and select:

How long have you been in business, the personal credit score of the principal owner/manager of the business and other credit factors determine where you may fall in that range.  Generally, the longer you have been in business, and the higher the personal credit score of the principal owner/manager, the higher your loan amount.

When you receive loan approval, you will typically be, offered several options, each with a specific loan amount, rate, and loan term.  You will be able to choose the option that best meets your needs.

Agency has a minimum loan amount of $50,000 and a maximum loan amount of $1,000,000.  Hence, loans are for commercial or business purposes only.

Line of Credit

Business owners only want to borrow money when they need it. And, why pay interest before you need to?  ARF Financial offers Lines of Credit to its clients for those simple reasons. Also, the agency provides other flexible repayment options like principal deferment to keep your costs low. Cash Advance providers don’t offer typical bank features like this because their product is not a loan.

Bad Credit OK 90% Approval - Get Funding Now

Business Line of Credit

You’ve Got Options

Lines of credit are perfect for when your business conditions have or are changing. When these unexpected issues arise and the window of opportunity is open, the question is, are you prepared to deal with these occurrences?

What is a Line of Credit?

A business line of credit is an approved loan extended to small business owners allowing them to draw upon when the need arises. This type of financing will enable merchants to pull funds from their line as needed and only pay interest on the money they take.

Benefits Of A Line of Credit

What Are Lines of Credit Loans?

Moreover, we understand the changing business landscape, especially in business. As such, small business owners can use the line of credit for a variety of business reasons. Even without an immediate need, owners can establish lines of credit now. Being prepared is smart. Small business owners know opportunities, and issues can arise quickly and have committed working capital to allow you to be ready for the unexpected. There are many reasons a business owner might need a working capital loan. Thus, here are just a few of the typical ways business owners use the funds.

Applying For A Business Line of Credit

Small businesses looking for a line of credit that has fixed rates, secure terms, and affordable payments, can file out the form below and we will get back to you within the hour, we believe in being nimble and quickly follow-up with your request to learn more.

Ability to Pay Off Early

Moreover, business loans you can pay off early and business owners only pay interest for the time they keep the money. Not so with a Merchant Cash Advance.  Business owners with an MCA are required to pay off the entire balance (with no discount) even if repaid one week after it is taken-out.

Using  Working Capital Loans for your business

Hench, working capital loans can help if you involuntary gage operations back or cut essential business activities since of an unexpected dip in money. Are you weathering periods of lesser sales trying to upgrade up for a busy period gaining? Working capital loan assistance! When cash is restricted or that your business lacks the reserves to keep everyday processes running smoothly, know that help is here. Our goal is to deliver you the money that is, needed in operation in the daily course of business for your firm.

Money; Working Capital

The usage of working capital when forced to scale back their operations or that of cutting back on business activities because there is now a dip in the cash-flow of the organization. So the question is asked, are your weathering the storm of that of lower sale projections as you prepare to ramp up for the busy season? Working capital is instrumental when you find current cash is tight or the business need funds to carry on the day-to-day operation without a strain in the current cash-flow of the business. The challenge to overcome these shortcomings is the infusion of liquid capital to bridge the gap of where you are to where you need to be.

Benefits of a Working Capital Loan

Our business financing product is an advance, not a cash advance, so repayment not tailored to credit card revenues.

What is Working Capital Loan?

Working capital can be, used for the various reasons below is an example of what:

·        Financing of equipment

·        Inventory

·        Business renovations

·        Opening of a new location

·        Licenses for liquor

·        POS Systems

·        Business taxes

Qualifying For A Working Capital Loan

For a merchant to acquire a working capital loan, based on a variety of qualifying criteria. Thus, there is no one single qualifying event that will guarantee the working capital loan. Nevertheless, merchants should prepare themselves to produce critical documents about the business in general and other materials about the company and other personal data to receive approval for a capital loan.

Time in Business

One of the critical elements of obtaining a working capital loan is the length of time in business. A small business can qualify for a working capital loan with as little as three months in business time. Hence, underwriting may require more documents to qualify the loan. If one does not have these instruments, then it is difficult for underwriting to approve and to assess the creditworthiness of the merchant for a capital loan. Typically three months is needed to provide some insight into the cash-flow and the overall financial health of the business and its securing working capital for the company.

Business Checking or Savings Accounts

One of the ways of tracking and qualifying entrepreneurs for working capital is through checking and savings accounts. Now, if the entrepreneur does not have such an instrument, then it is hard to track any money coming in and going out of the business. Tracing is essential, without it, there is no way to qualify the small business for the loan due to not know what amount of revenue generated in the company and the expenses that it has in the conduct of business affairs.

Credit Score

How one has taken care of the previous debt is essential to that of knowing how they will handle their current debt load. A minimum of 551 credit profile is required to move forward in a possible approval for a working capital loan. Small business owners who have less than flawless credit, but has a track record of functional business operation; underwriting could find other means to qualify and approve the loan

Annual Sales

The minimum yearly sales from an enterprise to qualify for a working loan is $250,000.00.

Debt to Credit Ratio

Hence the debt to credit ratio is also comparted and viewed. If one debt load is too high, then qualifying for a working capital loan could be out of the question. Nevertheless, the lender may wish to pay-off competitor loans to qualify the business for a working capital loan.

Applying For A Working Capital Loan

Now, if you are a merchant and need acquiring working capital, file in the form below. After receiving, we reply within one hour of the submission. We are nimble, and pride ourselves on a quick turnaround in getting back to you with any answers that you require for a working capital loan.

 

Need Help? Have Questions?