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Even in the middle of one of the hottest economies in American history small business owners still report that they are struggling to get the financing they need to build, grow, and expand their operations and that’s exactly where a LLC Business Loan can help you.
According to information from the US Small Business Administration nearly 29% of all small businesses fail because they simply run out of cash on hand (and financing opportunities) to continue to keep their doors open.
On top of that, 43% of all small businesses in the United States applied for lending last year – with only a small fraction of those small businesses actually getting the financing they were looking for (or any financing at all).
This has led to 32% of all small business lending applicants looking for nontraditional lenders to help them out, many of them turning to online based lenders that promise quick cash, easy access to capital, and a lending application process that is simplified, streamlined, and very efficient.
It should come as no surprise to anyone that organizations like LLC Business Loans are succeeding in a space with so many entrepreneurs practically begging for financing – especially the type of financing that LLC Business Loans makes available.
To learn a little bit more about everything that this organization has to offer we have put together this quick guide.
You need to be a little bit careful about moving forward with nontraditional lenders, being sure to work only with 100% legitimate operations that you know you can trust. We have done quite a bit of digging and quite a bit of due diligence looking into all that LLC Business Loans promises and have determined them to be one of the best nontraditional organizations you’ll find in the business lending space today.
If you are one of the 57% of small business owners that are looking for $100,000 or less in cash or capital to help you build, grow, or expand your business today the odds are pretty good that LLC Business Loans can help you out.
Let’s dig a little bit deeper into all you need to know about LLC Business Loans right now!
To start things off, it’s important to understand that LLC Business Loans is a New York-based financial organization that was established back in 2016.
A nontraditional lending organization, the general push behind LLC Business Loans has been connecting small business owners that are seeking financing options and opportunities to individual lenders that are a part of the overall LLC Business Loans business network.
This means that LLC Business Loans is not itself a direct lending institution (like traditional banks, credit unions, and similar organizations) but instead operates as an intermediary and a “matchmaker” of sorts.
Lenders that are interested in helping small business owners create their entrepreneurial dreams pay a small connection fee for finding loan applicants – and then you get an opportunity to take advantage of the lending programs according to the terms you’ve worked out with these individual lenders.
This is a bit of a twist on the age-old private moneylending practice, taking full advantage of new tools and technology to streamline things significantly.
Instead of having to reach out to your own individual business network and hoping to find people that might be interested in investing in your business dream you now have the opportunity to search for legitimate lenders that want to give financing to small business owners just like yourself.
This will streamline the process significantly for both lenders as well as those that want to capitalize on the financing options provided. The fact that everything is based out of New York is a huge credibility booster, particularly for an organization that’s only been around for 3+ years.
As highlighted above, the LLC Business Loans organization is not your typical traditional direct lender or financier but instead a partnership network of individual or group lenders that are interested in working directly with small business owners and entrepreneurs.
The entire platform is designed to facilitate easy conversations between those looking to take advantage of financing and those that are offering different financing options, with a streamlined application process and a fast-track to getting the cash and capital small business owners need as quickly as possible.
We dive a little bit into the big benefits of LLC Business Loans in just a moment, but it’s important to really make this key differentiation crystal-clear. You won’t be taking loans out directly through the LLC Business Loans organization.
Instead, you’ll be taking loans out through the lenders that LLC Business Loans connects you to with LLC Business Loans acting as a matchmaker or a partnership builder sitting squarely in the middle. The good news here is that you won’t have to worry about paying LLC Business Loans for the opportunity to connect with these lenders, as the initial fees are going to be sent out to lenders that want to tap into the LLC Business Loans platform to offer you money in the first place.
Because there are so many different lenders operating within the LLC Business Loans network, and because not all of them offer the same “financing menus”, it’s possible to find pretty much any and every type of business loan imaginable on the LLC Business Loans platform that anyone particular point in time.
There are always (literally) hundreds and hundreds of lenders looking for small business owners to partner up with, many of them that have already had quite a bit of success helping small business owners with their financing needs while making a little bit of money on interest themselves.
It’s important to remember that most of these lenders are successful business people themselves. Some offer microloans opportunities for less than $10,000 while others are more comfortable offering up to $500,000 (and sometimes even more than that) as funding – but most trend towards the $10,000-$30,000 range in our experience.
According to the SBA, a tremendous amount of small businesses in the United States can be built with “microloans” of $5000 or less. These kinds of opportunities are going to be found pretty much everywhere across the LLC Business Loans network, with lenders more than comfortable extending these lines of credit to business owners that they meet through the network itself.
Of course, there are other lending packages that you might choose to take advantage of when you decide to dive deeper into all that’s possible on the LLC Business Loans platform. Different loans are going to be better suited to different businesses as well as at different times in a business lifecycle, but you’ll never want for opportunities to capitalize on when you are sifting through the options you’ll find here.
To highlight just some of the most common loan types you can get when you jump on the LLC Business Loans platform we’ve put together this quick list.
Startup Loans
Each and every year millions of new businesses are started in the United States (and millions more around the world), with the overwhelming majority of businesses being established for around $100,000 or less – sometimes much, much less.
These kinds of financing packages are intended to be used by entrepreneurs that are just beginning their new business, the kinds of financing necessary to get a new operation up off of the ground. Most of the time new entrepreneurs have no credit history or little credit history in the business arena, do not have a lot of business history under their belts as well, and are willing to take advantage of smaller financing packages to sort of bootstrap their success in the early days.
At LLC Business Loans it’s possible to take advantage of these kinds of loans pretty regularly, though when you start to get above the $50,000 loan threshold things do get a little tighter and the application requirements become a bit more stringent.
For the most part, though, startup loans on the LLC Business Loans platform usually run from between $1000-$100,000 and require a minimum credit score about 575. You’ll find very little restrictions on how to use the funds that you have been lent with these types of packages as well as very flexible repayment terms going forward.
Bad Credit Business Loans
Bad credit business loans are pretty commonplace on LLC Business Loans, something that you might not expect from nontraditional lenders if you are operating under the impression that they are a lot more risk averse than traditional lenders like banks and credit unions, for example.
It turns out, however, that the opposite is usually true when you step into the world of private lending on a platform like LLC Business Loans.
Your credit history and your credit score is a lot less impactful on whether or not you are able to get your hands on financing, with many of the LLC Business Loans lenders (especially some of the more successful and reputable lenders on the platform) more than happy to extend credit to those that have less than picture-perfect credit scores.
For obvious reasons, though, these loans are usually handicapped at least a little bit at around $200,000 at the high-end. Most bad credit business loans extended through LLC Business Loans are available starting at $5000, though the potential to get smaller bad credit business loans exists.
At the same time, you might find better results moving forward with microloans at that stage in the game especially since credit scores factor so little in those decisions most of the time.
It’s possible to secure bad credit business loans on the LLC Business Loans platform with scores as low as 500, and sometimes even lower than that if you’re willing to put up a little bit of collateral. Expect the application process to be a little more in depth in these bad credit situations, however, as lenders want to know who they are going to be doing business with before they give the green light.
Cash Advance Business Loans
Cash advance business loans are designed to help you with your cash flow issues, allowing you to maintain positive cash flow even when you are going through dry spells as far as sales are concerned or are running low on inventory.
These loans are usually available between $5000 and $250,000 financing packages, with credit scores of at least 550 usually more than good enough to get your foot in the door and to secure this kind of financing package.
Sometimes these types of loans can be a little bit difficult to get your hands on throughout the LLC Business Loans network depending on the pool of lenders looking for small business owners to partner with. But most of the time you shouldn’t have trouble at all finding these loans when you need to take advantage of them.
Short-Term Business Loans
The lenders working with the LLC Business Loans network are always interested in offering short-term loans, loans specifically designed to offer almost immediately available cash and capital for you to take advantage of opportunities that may disappear overnight – provided that you are willing to repay those loans (with interest) in a relatively short amount of time as well.
These are the kinds of loans on LLC Business Loans that usually are funded within 24 hours (and frequently much faster than that) though you may only have a couple of months to repay the principal and the interest that has accrued on those loans.
Most of the short-term business loans you’ll find on the LLC Business Loans platform are for between $10,000 and hundred thousand dollars or so, but some of them can stretch up to $500,000 (and even more) depending on the scale, scope, and seriousness of the opportunity that and entrepreneurs looking to cash in on.
Impressively, most of the short-term business loans you’ll be able to take advantage of through the LLC Business Loans platform are only going to require a minimum credit score of about 520. This means you don’t have to have anywhere close to picture-perfect credit to get your hands on quick cash to make the most of opportunities that could transform your financial future.
Women/Veteran/Minority Owned Business Loans
One of the coolest things about the LLC Business Loans network is how serious lenders here take the pledge to open up the world of entrepreneurship to anyone and everyone looking to pilot their own ship and take control of their own financial future – regardless of gender, regardless of their background, and regardless of the color of their skin or their nationality.
Plenty of the most reputable lenders working with LLC Business Loans provide women, veteran, and minority owned business loans on a regular basis, oftentimes with same day or 48 hour approval for amounts that can get up to $200,000 in financing.
Some of these loans can be made available for even more than that, with a number of LLC Business Loans loans in this category going for more than $1 million. Anytime you start to talk about that much cash being lent out on the LLC Business Loans program, however, you should expect an extended application and approval timeline.
Lenders handing out that much cash and capital want to make sure that they are getting involved with as much of a sure thing as possible (and understandably so).
Small Business Loans
The small business loans made available through the LLC Business Loans platform are some of the most robust and flexible financing packages individual lenders provide, with the highest amount of capital available – though they do require you to have a (somewhat) more impressive credit score to take advantage of this type of financing.
The real benefit behind small business loans through LLC Business Loans is that they allow you to leverage the financing you have been provided in pretty much any and every way you see fit as the business owner – so long as the funds are going to business purposes.
Some of the other lending opportunities through this platform require you to sort of pigeonhole how you use the money you have gained access to (restricting your choices and your flexibility) but that won’t ever be a problem with a small business loan from LLC Business Loans.
Financing packages good for between $10,000 and $1 million or more can be taken advantage of with these kinds of designations. A credit score of at least 590 should you get you an introduction to lenders that are willing to open up there financing bank accounts to this extent and with this kind of flexibility and creativity available.
Working Capital and Equipment Financing
Working capital lending programs give you the cash you need to run your business on a day-to-day basis without having to worry about cash flow, sales, or other outstanding debts. This kind of capital helps to keep your business up and running even when things aren’t looking so hot from a sales perspective – helping to make sure that your employees get paid, that your vendors get paid, and that you are able to keep your doors open for business.
These kinds of loans regularly operate similar to a line of credit that provides you with a pool of financing you can draw from rather than you having to take the entire principal all at once and pay back that entire principal and interest later down the line.
Business equipment financing packages are a form of secured lending that uses your equipment as collateral for the loan. This basically helps you get your hands on better equipment that improves your business while securing the loan with that very same equipment, helping you to sort of “self secure” the loan that you need to improve your operations.
There are a variety of other lending packages that you may be interested in taking advantage of directly from LLC Business Loans as well (with some very creative financing options available from individual lenders) and it’s well worth having a look through the different options available to you before you settle on a package that you apply for.
Taking out business financing will always be a major life decision, one that isn’t just going to affect your own personal finances but will either positively or negatively impact the financial future and viability of your business as well.
This is obviously not something that you can afford to take lightly.
Below we highlight just a few of the things that you really need to focus on before you go after anyone particular loan package, regardless of whether or not you are doing so through the LLC Business Loans platform or any other lender for that matter.
One of the ways that otherwise smart and savvy business owners get into trouble with financing is by taking advantage of any and all financing that comes available rather than thinking about how they intend to use this financing and choosing a package or plan that suits those needs and goals perfectly.
You’ll really want to think about how you hope to use the financing you are granted access to, the kind of flexibility you might need with the cash and capital you have been provided, and how you are going to strategically allocate these new assets in your business so that they have the highest possible return on investment.
Ignore this at your own peril.
Another way otherwise smart and savvy business owners get themselves into trouble with financing is not figuring out exactly how much cash or capital they need but instead taking just as much as an individual lender is willing to offer them.
This is particularly dangerous when you are not taking advantage of something like a business line of credit from LLC Business Loans, something that provides you with a total pool of capital you can access but does not require you to pay back the entire principal and interest moving forward.
Instead of getting as much in financing as you can think about how you’re going to use it, where you’re going to use it, and how much financing you actually need. Calculate this to the most accurate number possible so that you are only ever financing as little as you can and you’ll have fewer issues with financing and cash flow for your business in the future.
The last thing you want to think about is how much debt your business can reliably take on and whether or not the financing opportunities you are looking to leverage are in line with those restrictions.
Unfortunately there is no effortless way to really calculate just how much debt your specific business can take on. This is something you are going to have to do on your own, figuring out your Debt Service Coverage Ratio independently (there are a number of guides online to walk you through this accounting practice) and then running through a quick Loan Performance Analysis to determine if you can actually afford the type of loan you are hoping to take out with LLC Business Loans.
Aside from those key elements you’ll want to think about how this financing is going to positively (and potentially negatively) impact your business going forward. As long as the positives outweigh the negatives – and there’s a way to make more money with this financing than what you’ll have to pay back with interest – you should give yourself the green light to shop around for different deals from the folks at LLC Business Loans.
One of the coolest things about LLC Business Loans is that their application process is about as simple and as straightforward as any in the business lending industry.
Online applications are available for all of the lending opportunities made available here, but you can also apply by phone or even by downloading the mobile application (available for iOS and Android devices) and going through the application process at your leisure on the go.
Most application processes are going to take about 10 to 15 minutes from start to finish, though specific loan packages and financing requests may stretch that application process out a little bit. After the application process has concluded and you have submitted your application for approval it’ll be up to the lenders that you are thinking about working with to handle the approval or disapproval process.
There is absolutely no application fee whatsoever associated with LLC Business Loans loans and financing and you won’t ever have to worry about a hard check hitting your credit. Free quotes are available to speed up the application process and give you a better idea of whether or not you are ideally suited to different loans from LLC Business Loans or not.
It’s a good idea to get your important identifying documents and business details in order before you go through the application process. Have a government ID, accounting details for at least the last three months (if applicable), your tax ID number, and owner/credit verification before you begin the process and things will go a lot smoother.
Aside from access to the entirety of the LLC Business Loans network you are also going to be able to leverage a couple of other cool features that help separate this lending organization from the rest of the pack.
Automatic payment reminders and auto debit payments are a huge benefit, helping you to really automate the repayment of your loans so that you can quite literally “set it and forget it” and never have to worry about missing a payment in the future.
Credit repair options are available through LLC Business Loans as well, specifically designed to help you improve your credit score so that you can take advantage of improved credit opportunities later down the line.
Loan refinancing is possible through the LLC Business Loans network, though you are going to have to speak with the individual lender about adjusting the terms of your agreement to see if that’s something that they are amenable to.
You’d be surprised at just how many lenders and financiers with LLC Business Loans are more than happy to make these kinds of changes, particularly if you have a solid history with them already.
It’s possible to request a quote, possible to receive one-on-one consultations with loan specialists working for LLC Business Loans to help you find the best opportunities available, and obviously there are also free credit check tools and loan calculator tools that you can take advantage of at any point in time.
No loan repayment penalties will be assessed if you’re able to pay off the entirety of your loan early across every single financing package accessed through the LLC Business Loans network. This is a game changer for those that are used to doing business with traditional lenders (and some nontraditional lenders) that sort of lock you into skyhigh prepayment penalties to get you to pay more over time.
At the end of the day, only you will know for sure whether or not it is a smart move to move forward with everything that the folks at LLC Business Loans have to offer.
We can tell you that the application process from start to finish is pretty simple and straightforward, and there’s the possibility of moving through the application process from start to finish in about 10 to 15 minutes. It’s tough to find that anywhere else.
Secondly, the interest rates available for financing packages secured through LLC Business Loans are top-tier and very competitive, though they do have a little bit of extra flexibility because many of these interest rates are set by the network lenders themselves.
At the end of the day, LLC Business Loans is one of the most reputable and respected nontraditional lending institutions of its kind to offer financing, cash, and capital to small business owners in the US.
Though they have only been around since 2016 they already have a glowingly positive reputation in the small business community and continue to improve on the services and solutions they offer on a day to day basis.
There’s a lot to like when it comes to LLC Business Loans – but only you will know if it’s the right direction to go to secure the financing you need for your business.
