Large Business Loans
The Evolution of Large Business Loans
If your company is 100% perfect the way it is, you can STOP reading now.
Are you’re looking for a large business loan and significant funding solutions for your company?
Do you feel like you’re hitting your head against the wall?
If you are going the traditional “bank loans” route, you’re going to want to read this carefully.
Let me ask you a rhetorical question.
Do you want to grow your business? Of course, you do. You wouldn’t be here.
All you need is…
… new equipment
… better technology
… pay a vendor
… more inventory
… a larger facility
You get the point.
What’s worse than not having a piece of equipment, or inventory, or technology, that’s constantly standing between you and your ability to process more orders, finish the job faster, or provide better service?
So why are you still doing it?
Stop using workarounds and quick fixes. Stop banging your head against the wall. And stop dropping four-letter word bombs every time an order vanishes.
All you need is a large business loan – and maybe a shot of tequila after hearing for the fourth time that everything spoiled overnight.
We can’t help you with the tequila, but we can assist you with the business loan.
We work with you to get hassle-free financing. In fact, it only takes a few minutes and a one-page application to see all your funding options.
Sounds even better than that a shot of tequila, doesn’t it? (Well maybe not?)
If you’re like most businesses, and you’re struggling to:
- Hire your next rock star employee
- Bankroll your next office space
- Hit your sales numbers
- Get a game-changing massive cash injection
Sunwise Capital can shine a light on a whole new world of available funding options for your business.
If you’ve previously thought your company wasn’t eligible for large business loans, we’ve got news for you:
UP TO $500K IN LARGE COMMERCIAL LOANS CAN BE AVAILABLE WITHIN 48 HOURS
LARGE BUSINESS LOANS UP TO $5M TO PURCHASE REAL ESTATE FOR THE BUSINESS
The business financing landscape has changed dramatically over the past few years. Especially after the great recession.
To qualify for a large business loan, you must understand the basics.
There are many ways to measure the size of business. You can look at the number of employees or total annual sales.
The question is what separates a large business from a small business?
The answer lies with the Small Business Administration (SBA). The defining line is any business with more than 500 employees or more than $7 million in annual revenue is not considered a small business.
Many times, the legal structure determines its classification. The crux of the issue is who is responsible for the business debts? Many small companies are set up as sole proprietorships or even partnerships.
While this structure gives the owner complete control, it also means they are solely responsible for all the company’s debts, and the business profits are a part of their personal income tax return.
They do not distinguish the company as a separate entity as all the “business credit” is based on their personal credit.
There is no separation between your personal credit (based on your social security number) and your business credit (based on your EIN). The business cannot stand on its own.
Large companies get organized as corporations. This legal structure means that the business pays its taxes separate from the owners.
It’s not unusual for a new small business to use personal funds to kick start their business. They often can raise money from friends or family as well as some local banks or credit unions.
Alternative lenders are very often an excellent resource. The personal assets and liabilities of the owner will constrain the ability of the small business to grow.
A company that is larger by revenue or is well established can often raise money from outside investors or even consider the public markets by either selling stock or bonds.
Your Industry Counts
Another distinguishing feature of a large and small business is their niche. Smaller or local companies impact a 3-mile radius from their location. Small businesses may be a one product company or have a few employees.
Larger companies have a more expansive product line and will sell their products to a wider audience covering a much greater area of the map.
The Differences Between Large and Small Business Loan Options
Today’s marketplace is much more dynamic than 10 or even 20 years ago. With the advent of alternative or online lenders, there are more options.
Additionally, after the recession in the mid-2000’s, while many banks retreated from funding businesses, especially small businesses, private lenders stepped in offering a variety of business loans.
The issue for most business owners isn’t whether they need more money to operate their company. The bigger question is what they will do with the money?
Is it working capital to help with the day to day operations and cash flow? Or are funds needed to purchase equipment or inventory?
Many times, a business can’t grow or expand without addition funding or make massive purchases including real estate.
At some point, every business needs to raise capital. That is the reality.
Types of Large and Small Business Funding
As you probably know, getting the right kind of financing can be a real challenge for small businesses.
Between the time it takes to complete the applications to knowing where to turn, it can be an overwhelming process (all while trying to run your business).
Here is the best news.
You don’t have to deal with the miles of bureaucratic red-tape and the piles of documents that the banks will make you slog through only to receive a politely worded rejection notice.
Small Business Loans
- Personal loans
- Home equity
- Vendor financing
- Social networks
- Bad credit loans
In business six months or more the options expand dramatically with the online or alternative lenders.
- Under $100K
- Helps with cash flow
- Help build working capital
- Minimal credit score 450 or better
- Some venture capital or government grants
Large Business Loans
There is no real difference between the large and small loans. The significant difference is the number of choices or options for the bigger companies.
All things being equal, the large banks and financial institutions are simply more profitable when they offer and fund large business loans.
The truth is that for banks, their overhead is simply too large to finance the smaller companies.
Another difference is the assets or collateral of the larger company. These assets or collateral can be used to guarantee the loans. These assets can also be used to secure a line of credit.
Offering equity or stock in your company is also more viable when you are larger.
Large companies have more access to the capital they need to grow. Assets, which can be used as collateral or sold in times of difficulty is a difference maker.
Next is the history of the company. The longer your business holds a footprint, the more likely you’ll be around. This history increases the comfort level of any investor or lender.
At Sunwise Capital we can get you approved for your small or large business funding projects within 48 hours.(And you’ll never have to sit across the desk from another banker)
Imagine the ease of completing a one-page application and submitting the last three months of business bank account statements to get approved for up to $500,000.
Do yourself a favor. I can assure you it’s worth the minimal time investment (less than 10 minutes tops) and no-cost application process just to find out what’s available for you because 90% who apply qualify and get pre-approved.
Sunwise Capital can get you all the details you need so you can make an informed decision. Sometimes all a business needs is a cash flow solution so they can reach the next level or avoid Chapter 11.
If you’ve explored traditional routes already, it’s time to expand your horizons.
Just click HERE if you’re interested and we’ll get you all the details ASAP.
What Types of Loans are Available Now and What are the Requirements
Entrepreneurs, did you know there are many types of business loans available to you right now?
These loans could be startup business loans with bad credit to government loans that help you start your dream.
Business owners have many options in today’s marketplace.
Sunwise Capital can get you from $10,000 to a large dollar business loan up to $5M.
We can tell you point blank that a bank will not provide you with startup unsecured business loans. In fact, they won’t even consider any startup business financing.
How to get large business startup loans from the government
Probably your best option is the SBA loan. The real challenge here is that it requires a decent credit score and you must be willing to invest in your own business.
This type of loan means you will need cash, or some assets or collateral.
If you have what it takes, be prepared for a paperwork intensive and time-consuming process.
Although Sunwise Capital can pre-qualify you in 5 minutes for an SBA loan, the process can take several weeks. Once all the paperwork is completed, and you get approved, you can expect another 7 to 10 days.
Startup business loans no collateral
Sunwise Capital can offer you an unsecured startup business loan. However, you need to be in business for at least six months and averaging at least $15,000 a month in revenue.
A rule of thumb is that you can receive 10% of your annual revenue as a loan amount. If your company generates $250,000 a year, a ballpark figure is roughly $25K.
However, a company generating some $5M in revenue will receive a large business loan – up to $500K.
The following are factors banks and alternative lenders consider when looking at your loan qualification:
Time in Business — It may go without saying, but the longer you’ve been in business, the more likely you are to qualify for the loans and rates you want.
But don’t let that stop you from applying for financing if you are a young business. We have lots of financing options that could help you.
High Credit Scores — Higher credit scores usually bring more approvals and more competitive rates.
Have you checked your credit score lately? If not checked your credit report before you apply for a small business loan (it will not affect your score). That way you will know where you stand and how to increase your score if necessary.
Monthly Revenue — Prospective creditors are very interested in the monthly income your business draws in. Almost all lenders want to make sure you can pay your loan back as well as covering business expenses.
Provided Collateral — When you provide collateral for a business loan, you assure the lender that their investment is safe. It also helps show that you have skin in the game and are focused on paying back the loan.
We have several different options for any business in over 700 industries.
Don’t wait. Let us help you get the funding you need.
The significant difference between the bank and Sunwise Capital is the collateral. We offer unsecured business loans. We also are less sensitive to your credit score.
Some of our programs will consider a FICO score as low as 450!
Large Business Loans – Rates as low as 5.49% for loans up to $500,000.
Our straightforward and quick application will help you get you the cash you need to succeed and reach your dreams!
Business Loans from a Traditional Lender
When you apply for any type business financing from banks and traditional lenders, there are five main elements they consider for approval.
They collectively are known as the 5 Cs of Credit.
You have one goal, and that is to put yourself in the best possible position in each of these areas:
Character — Are you honest and trustworthy? Do you come across as shady or unreliable? You’ll need several references both personal and business to attest to your character.
Capacity — This is simple. Can you repay the loan? Do you have money in your bank account every day? Do you have the cash flow to support your current expenses along with the payments for this loan?
Capital — All traditional lenders want to see you put up a capital contribution. “How much skin do you have in the game?” The more, the better. You want the lender to be comfortable. Nothing demonstrates this more than your capital contribution.
Collateral — Next to “skin” the lenders want to see some property or significant asset used as collateral. Why? It protects against default.
Plus, the chances of default go down when this collateral is your home. Depending on the financing option, this may or may not be required.
Conditions — Finally, there are the conditions. What do you need the money for and how long? What is the money going to do for you? Chances are there will be stipulations that limit the use of funds.
What’s the Difference Between Large Short-Term Loans and Large Term Loans?
No, this isn’t a play on words.
When looking for large funding solutions, there are two attractive financing options for your business that could be a good fit.
They are “short term loans” and “term loans.” There is more than semantics that differentiates these two loans.
You can pay off relatively quickly
Up to $100,000
Cushion until next receivable hits
Usually 3 to 9 months
Need time to pay off
Up to $500K
Must have cash flow
Years vs. several months
If your FICO score is a challenge, a great solution is a short-term loan.
The larger term loan is a great solution if:
- Expanding your business
- Making improvements
- Large pieces of equipment or changes in technology
The good news is Sunwise Capital is here to help. We make the funding process super-fast and easy.