At Skytop Business Loans we pride ourselves in being able to fund business based on just that – their business. While your specific business type or “SIC code” can depend on what programs will work the best – It is not going to be a deciding factor when it comes to securing the approval for the small business loan you need to grow.
Our underwriting process for even our bad credit business loan program does NOT include collateral of any kind, therefore the underwriting process requires far less hoops to jump through. Regardless of how you earn your money, we can show you options. Businesses that have been operating under the current owner for at least one year, and generate no less than $10,000.00 monthly always qualify for the best programs. We look at those benchmarks as good time in business, and solid minimum deposits. Regardless of how the business generates revenue by industry, as long as they are generating revenue – we have a program that is going to fit.
Last month our 48 Hour Business Loan department funded businesses of all types including, but not limited to; Veterinarians, Restaurants, Recycling Plant, Excavators, Trucking, Insurance Sales, Miscellaneous Business Services, and Wholesalers. Manufacturing Loans were also popular in this space. As different as it may seem these businesses are by definition they all have one thing in common; they are strong businesses generating consistent revenue. For us, Business Loans should be about the business’ ability to pay it back – isn’t that what is most important?
We hear all the time that business owners are being declined because they are a home based business. Securing funding for a business like this is no problem as long, again, as the revenues are strong. We have had many clients come to us because they work from home but have a satellite office that they use for storage, or because they cover such a vast area. These are not issues for us. It is common practice to do a good faith check with landlords and the like as if a business is waiting pending eviction they’re going to have a tricky time operating to satisfy the debt. A home based business naturally will not have a landlord, but we can come to the conclusion everything is fine with the property by using either a recent mortgage statement showing this are “on the up and up” or even take a look at a deed if the property is paid for outright.
Our entire goal at Skytop Business Loans is to create solid relationships with our clients as we assist them in growing the business. Very many of our clients are just on the cusp of traditional financing but don’t have the time to wait for the lengthy drawn out underwriting process; for those clients we offer an array of Bridge Loan options to secure the cash sooner, and pay it off early at a discount. Forget about a prepayment penalty we will offer a discount. For the business owner that has been declined by the bank due to time in business, bad?credit, lack of collateral, and the list goes on – we work with you to build the business up, and utilize a consultative approach to get you where you need to be. When clients in our Starter program, that we work with over time, no longer need us – then we’ve done our job.
Give us a call today at 844-323-5626 to go over any questions and learn about options available to you, or even better check us out online at www.skytopbusinessloans.com.