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No credit check programs for small business loans are available with easy qualify and working capital financing up to $50,000. This enables the established small businesses a notable possibility to acquire short working capital for their business without a personal credit check. This no credit check short term small business loan program isn’t a merchant cash advance or merchant loan. Additionally, it isn’t related to the payday loan program. This no credit check short term 0small business loan program is constructed in the following manner. The small business applicant should follow the below guidelines: 1) Maintain at least a $4,000 ending bank balance business account 2) Deposit at least 10-15 times per month in their business account 3) Be in business at one year and establish the ability to repay back the loan 4) Have no outstanding large tax liens, delinquent child support issues, not currently in bankruptcy or foreclosure Documentation Requirements 1) Signed and dated application 2) Provide a copy of the detailed business bank statements for the last four months 3) Copy of the Owners Drivers Licenses 4) A copy of the Articles of Incorporation if Applicable 5) Copy of a business license, tax id number or any other relevant license The bank will lend up to 2.5 x the average ending balance on the business bank account for the last four months up to $50,000. These are business loans and the length of the loan is four months which can be renewed. The loan can substitute a merchant cash advance if it doesn’t exceed 40% of the qualified borrowing base. At funding, the financial institution will pay off the merchant cash advance or loan and pay you the difference. Example, your monthly average ending balance in your business bank account is $20,000 for four months. Your borrowing base would be $20,000 x 2.5 or $50,000. If your current cash merchant advance is $18,000, the bank at funding would payoff the merchant first and remit to you the difference for $32,000. Apparently if you didn’t have an outstanding merchant cash advance, this area wouldn’t apply. The kinds of businesses that would be grand for this type of loan would be the following: Gas stations, restaurants, bars, discos, tanning salons, pizza shops, dry cleaners, doctors, dentists, physicians, lawyers, accountants, Cpas, limousine owners, automobile service centers and body repair shops, dog groomers, florists, beauty and nail shops, distributors, all different types of service providers. In conclusion, this is a great opportunity to obtain short term small business loan financing in this tough economy. This isn’t a merchant cash advance or loan program which can be quite tedious in its paperwork and processor work requirements . This great business loan program isn’t credit driven, as a result your Fico Score isn’t an issue.. These small business loans can be renewed every four months if needed by the applicant and gives the business a working capital injection. Happy hunting for your short term small business loan and its associated working capital financing.
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J.M Luna has over thirty years of financial experience. This includes financing, leasing, small business loans and working capital financing. U.S Corporate Capital Leasing assists the start up and seasoned businesses for financing for all different types of industries. www.cclgequipmentleasing.com www.cclgequipmentleasing.com/cashadvances.htm
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