A spokesperson also stated their business line of credit goes up to $500,000, which is on par or higher than other fintech lenders. You can get term loans and merchant cash advances up to $5 million, bridge loans for up to $1 million in financing and SBA 7(a) loans with amounts up to $10 million. Why SBG Funding is best for high loan amounts: SBG Funding offers a variety of business loans with a wide range of funding amounts. They also offer invoice financing, allowing you to get an advance of up to 90 percent of your outstanding invoice amounts. Overview: Founded in 2017, SBG Funding is an online lender with an array of business loan options, from term loans to equipment financing and leasing to SBA 7(a) loans. There’s also no need to provide a personal guarantee, backing the loan with personal assets. Its website says it accepts a three-month average revenue of $15,000 per month, though a spokesperson stated a higher revenue requirement of $25,000 per month. Who Credibly is good for: Since Credibly requires at least $300,000 in annual revenue, it best fits businesses with challenged credit but healthy revenue. As an online lender, Credibly is known for being flexible with its lending requirement, so businesses with a minimum personal credit score of 550 could qualify for funding. Why Credibly is the best for bad credit: Qualifying for a traditional business loan with poor or bad credit is difficult, but Credibly is an alternative. It also partners with other lenders to offer business lines of credit, long-term loans, equipment financing, SBA loans and invoice factoring. Overview: Established in 2010, Credibly is a direct lender of working capital loans and cash advances to small businesses needing fast funding. In California, products are made or arranged pursuant to a California Financing Law License. Products offered by National Funding, LLC and affiliates are business products only. Application is subject to approval by the lender and is based on factors such as business type, time in business, annual sales, average business bank account balances, personal credit and other variables deemed relevant by the lender. Approved funding amount is based on eligibility. Rates and terms for business credit products are subject to underwriting guidelines, may be provided by third parties, and are subject to lender approval. This is not a guaranteed offer of credit. Continue running your business seamlessly during seasonal lulls.Maintain daily operations even through gaps in cash flow.Stock more best-selling items during your busy selling seasons.Hire new employees to support your business growth.
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