Getting required documentation to get funded can be nothing short of a headache. Our Small Business Loans are based on the revenue of your business, not collateral, and not just your personal FICO score either, what that means is we are able to get you the cash you need to grow your business with minimal closing documentation.
When our agents get inquiries regarding our 48 Business Loan product they often want to put together everything at once, in order to wrap things up as soon as possible. What documents are required for our process? It’s really pretty simple.
To qualify we require your last three months of bank statements for the business. This is going to show us the health of the business as demonstrated by cash flow. Cash flow is king for our programs. What is good cash flow? Frequent deposits, strong deposits, minimal overdrafts will all make the process faster however we DO have options for businesses that deposit as little as once a month, and for merchants that have had issues with overdrafts on the account.
Along with our completed One-Sided, One-Page application – Three months of bank statements is all we need to make a firm approval in HOURS. When you get your Small Business Loan Approval – it is time to move on to get funded. Depending on the amount of the approval this unsecured business loan will require some documentation to close out the file, and get the funds wired into your account quickly. Unlike the traditional banks, since we are not holding collateral, or even a personal guarantee in most cases, the closing documentation is simple. We require a copy of your photo ID, to verify your identity. We require a voided check, in order to wire the account. Proof of ownership, which can come in many forms just showing you have the right to act on behalf of the business, and finally any applicable business license from your state, or county if such is required. We are aware states such as Ohio have more lenient rules as far as business licensure goes, while states like Pennsylvania require a bit more.
It is important to note in regards to closing documentation, we work diligently to make the process as simple as possible. We pride ourselves in having programs that require the fewest hoops to jump through, after all, that is what makes us difference. Skytop Business Loans can show you what options are available to you very quickly on a no-obligation basis – you can apply right online and get started today!