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SECURED LOAN PRODUCTS

SECURED LOAN PRODUCTS
Ranges of Factor & Interest Rates
Benefits & Drawbacks
Required Documents

Factoring

Credit Score
550+
Time in Business
Any
Monthly Revenue
$10,000+
Loan Amount
$2k+
10% - 25%

Benefits: Perfect credit not required.

Drawbacks: Customer may rather deal directly with business, Depending on the situation can be a higher cost.

Invoice

AR Aging Report

P&L

BS

One (1) year tax return (most recent)'Six (6) months Bank Statements

Small SBA

Credit Score
Any
Time in Business
12 months+
Monthly Revenue
$20,000+
Loan Amount
$1k - $100k
7% - 15%

Benefits: Low APR, Fixed or variable rate.

Drawbacks: Longer application process, Require a personal guarantee or collateral.

2 years tax returns

personal financial statement

year-to-date financials

and FICO score.

Equipment

Credit Score
500+
Time in Business
Any
Monthly Revenue
Any
Loan Amount
$20k - $1M
8% - 25%

Benefits: Lowest interest rate to buy equipment, Tax deductible and depreciation benefit, Own the equipment outright.

Drawbacks: Equipment with loan can become outdated, Higher downpayment than lease.

2 years tax returns (only if request is over $75

000)

3 months business bank statements

Invoice or Quote for equipment to be financed

Large SBA

Credit Score
Any
Time in Business
12 months+
Monthly Revenue
$20,000+
Loan Amount
$200k+
<10%

Benefits: Lowest interest rates of all types, Longer terms, Can borrower larger amountSeeking.

Drawbacks: Application is time consuming, Long time to approval and funding, Down payment required.

3 years tax returns

personal financial statement

year-to-date financials

and FICO score.

Commercial Real Estate

Credit Score
650+
Time in Business
Any
Monthly Revenue
Any
Loan Amount
$150k+
4% - 8%

Benefits: Low APR, Earn equity on property, Built in collateral.

Drawbacks: Must include plans to build a structure, Longer application process.

Borrower Resume(s)

Personal Financial Statement (PFS)

Personal Tax Return(s)

Business Licenses

Corporate/Partnership/LLC/or Sole Proprietorship Docs

History of Business/Business Plan

Accounts Payable Aging Schedule

Accounts Receivable Aging Schedule

Business Federal Tax Return(s)

Business Financial Statement(s)

Interim Balance Sheet (Partial Year)

Interim Income Statement (Partial Year)

Notes Payable Schedule

Projections

Rent Roll (Investment or Multi-Family Commercial Real Estate)

Appraisal(s)

Environmental Site Assessment(s)

Site Visit / Pictures

Survey(s)

Title Policies