Inventory Loans

Inventory financing is a bank line of credit secured by the company’s inventory as collateral.

With inventory financing, the borrower receives a loan in order to purchase inventory. The purchased inventory is then used as collateral against the loan. This is a great finance option for business owners as it provides the inventory that a business needs

without tying up cash, receivables, or credit cards. This type of financing can help to free up some of the cash you have tied up in inventory for more pressing needs or investments.

Inventory loans are perfect for businesses who enjoy a high inventory turnover rate but are short of the cash  needed to replenish their supply.

Lenders will typically need to see that you have a proven sales history to approve you.. And they will require you to possess tangible inventory. Lenders will want to see that you have a proper inventory management system  in place which provides accurate and  timely information on your inventory size and cost.

Most lenders will also require sales orders to verify you are actually selling.

Inventory Financing is one of over 30 core funding products available to you through your customized Business Finance Suite.

Expert Credit Consultants, LLC specializes in establishing business credit and funding using our exclusive Business Credit and Financing Suite as well as consumer credit restoration and optimization. www.ExpertCreditConsultants.com.

Merchant Cash Advances

You can get money for your business quickly by borrowing against your future credit card sales. This type of financing is known as Merchant Cash Advances. These loans use your past and current credit card history to determine how much financing you can be approved for.

Money is advanced to you based on how much you process each month in credit card transactions. Then a small portion of each future credit card sale goes towards paying back the merchant advance loan not interfering with your cash and check receipts.

There are no fixed repayment amounts or terms which gives flexibility to your business if you are having a slow month.

One of the best benefits of merchant advances is you can receive money in your bank account as soon as 24 hours after approval.

Another great benefit of merchant loans is you don’t have to have good credit to qualify. These loans leverage your positive credit card processing history to get you approved, not your credit scores. There are some credit score restrictions, but in most cases you can be approved with even below average personal credit scores.

And there is no personal guarantee required and no collateral is needed. Merchant loans can be obtained up to $150,000. How much you will be approved for will be determined based on how much you process in credit card transactions each month.

Every business has its strengths and weaknesses. If you use credit cards as a payment source for your clients, a merchant advance can be the perfect way for you to obtain a lot of money in a short period of time.

These loans are available for businesses that process as low as $3,500 monthly in credit card transactions. And the higher you do process the higher advance loan you will be approved for.

There are no application fees and no out-of-pocket costs. And you can use the funds for payroll, marketing, increase business inventory, pay taxes, pay rent, advertising, order supplies and equipment, expand your business and open an additional location, or use the funds for working capital.

Merchant Advance Loans are a great source of capital for your business and is 1 of over 30 core funding products available with us.

Expert Credit Consultants, LLC specializes in establishing business credit and funding using our exclusive Business Credit and Financing Suite as well as consumer credit restoration and optimization. www.ExpertCreditConsultants.com.

12 Steps to Building Excellent Business Credit

Obtaining credit for a business with no personal credit check and no personal guaranty is very appealing.

One might say this is the holy grail of owning a business - being able to obtain massive amounts of funding using the business itself as collateral.

There are many steps to building an exceptional business credit profile. Each of these steps is essential in obtaining business credit with no personal guaranty.

Here are 12 steps you will want to take when building business credit...

1. Make sure you start by incorporating your business and make sure you obtain a Federal Tax ID#.

2. Ensure you setup a business bank account immediately and that the business name on your corporation papers is the same as on your business bank account.

3. Ensure you have a business land-line number that is listed with 411.

4. Ensure you have the proper businesses licenses for your business that you need in your state.

5. Set up a complete credit profile with Dun and Bradstreet but do not pay them the $400 - $800 they will ask you for.

6. Make sure you pay business bills that report to the business credit reporting agencies ahead of the due date. The earlier they are paid, the higher your business credit scores will be.

7. Build solid payment history with many accounts being paid as-agreed or early each month. Building excellent business scores means you have many accounts reporting as paid-as-agreed. So get your credit, then keep using the credit monthly to build a solid profile.

8. Ensure you monitor your business credit files. Keep an eye on your scores and the progress of the accounts that are reporting.

9. Establish a minimum 'low 5' bank rating by establishing and using your bank credit.

10. Open a small business credit line that reports on your business credit profile. Credit lines have high limits and reflect positively on your business reports.

11. Ensure you establish a diversity of credit using multiple store and Visa, MasterCard, and Amex accounts.

12. Ensure you have a well written business plan as many lenders will want to see this to approve you for funding. 

Expert Credit Consultants, LLC specializes in establishing business credit and funding using our exclusive Business Credit and Financing Suite as well as consumer credit restoration and optimization. www.ExpertCreditConsultants.com.

 

How Much Are Business Financing Rates?

This is the most asked question we get asked. First of all, EVERY business is different. Second of all, each Funding Program is different.

Lenders will base your interest rates on the amount of risk they expect to be taking on. If you have no collateral, no business credit, and bad personal credit, your interest rates will initially be high.

Other programs don't have interest rates. Their fees may be based on 'points' or a percentage of the total they lend you.

You wouldn't ask a real estate agent "Hey I've never owned a house before but can I buy this one and how much is the payment?" The exact same is true with business funding.

So there is really not an answer to this question.

One thing you should keep in mind about business financing is that even if you pay 10% on a business loan, but it will increase your business by 20%, then the 10% is considered a low interest rate.

By working with one of our Business Credit Advisors, you will start building your business credit. Establishing business credit can be about 10 times faster than establishing personal credit. Then with a good business credit score, you can start qualifying for very good interest rates and much better pay back terms - much more flexible than with personal credit and loans. Our Finance Officers work with just over 2200 lenders offering over 30 different types of business funding programs. They are your very best bet in getting business financing. No business loan broker can offer this many options.

Expert Credit Consultants, LLC specializes in establishing business credit and funding using our exclusive Business Credit and Financing Suite as well as consumer credit restoration and optimization. www.ExpertCreditConsultants.com.