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START A NEW BUSINESS
WITH OUR STARTUP BUSINESS LOAN

Apply for a personal loan to fund your entrepreneurial ideas.
  • Rent a location
  • Buy Equipment
  • Purchase Inventory, or more!
Apply for a Startup Loan

BUSINESS FUNDING

It Doesn’t Have To Be Complicated

Startup Business Loans

Startups business have unique needs when it comes to financing. Our loan program includes lines of credit and unsecured term loans for startups, entrepreneurs, or existing businesses. You will be prequalified in a few hours and funding will take place in as little as 5 days. Our process is simple, fill out an online application, select your offer, and get funded! If you have questions before you start the process feel free to call our office during business hours and a loan consultant will guide you through the process.

Loan Amounts:

$25,000 up to $500,000

Terms:

3 to 10 years with monthly payments

Rates:

Range from 6-18%

Startup Business Loans

– Benefits:

  • Jumpstart your business
  • Get pre-qualified with a soft credit pull
  • Low-interest rates
  • Monthly payments
  • No prepayment penalties
  • 5 Days for funding
  • Maintain full ownership

.

How To Qualify

– Requirements:

  • 700+ Credit score on 2 of 3 bureaus.
  • 5+ Active revolving accounts
  • History of installment loans
  • Less than 3 inquires in the last 6 months on each bureau
  • 40% credit utilization or less
  • Verifiable income (taxes, pay stubs, w2, etc.)
  • Fill out a simple online application

For Your Business Through Startup Business Loans

If you have an idea for a business, one of the most critical factors in turning this into a reality is a startup business loan. Obtaining working capital to grow a new company will help you to grow more quickly. Some lenders consider a “startup business loan” to be funding for a business with less than 2 years of operation. But more commonly, people refer to a business that has not been formed yet and is just about to open. Fortunately, we offer working capital for both situations.
Apply for a Startup Loan

Are There Really 'Startup' Loans For Businesses?

Most entrepreneurs who are at the very beginning of opening a company get the funding either from their own savings or credit cards or from friends or family who decide to invest in the business. They then work to build the business on their own before applying for a loan. With GoKapital, we can offer startup financing if you have demonstrated a strong credit history over a few years, with multiple established tradelines. This funding can be in the form of installment loans or lines of credit. You can learn more about the benefits of startup business loans by reading this article.

What Are The Best Ways To Use An Unsecured Business Loan?

A loan is intended to grow a business, but how? You need to consider which investments you make with your loan funds will yield the most productivity, and thereby yield more revenue because you will have to repay your loan. Here are the main assets companies purchase using business loans.

1. Equipment Financing

Every business will need equipment to function whether it’s heavy-duty machinery for construction or just new printers for the office. Getting new equipment or upgrading old equipment usually costs money businesses don’t have in their cash reserves. There are business loans specifically intended for equipment purchasing, and they might be used for full upfront purchase of equipment, or you might end up leasing your equipment. Another benefit of our personal business loans is that we will not hold a lien against your new equipment.

2. Real Estate

Commercial real estate mortgages usually won’t be used until a business has been around for a while, and has reached the point where they know they’re ready to open more locations and buy up more property. But real estate is by far the biggest asset a business can own, so when it’s time to go big and purchase it, you will want to have all your T’s crossed and I’s dotted. But just as with residential real estate, you could make a great property purchase for your business and see the value go up in the future. Our loans can be used as a down payment or even property improvements.

3. Hiring New People

Starting or growing a business usually cannot be done without hiring more managers and employees, and it almost certainly takes cash flow to accomplish that. But the decision on who you hire may be the biggest make or break for your business, and hence can impact your overall ROI. We understand the struggles entrepreneurs face when it comes to working capital, that is why all our business loans have a streamed line process and can provide offers in 24 hours.

4. Marketing

Marketing probably shouldn’t be the primary purpose to get a business loan, but if you have funds to allocate towards it, it can certainly pay off big for your business. You might decide to hire a marketing team or outsource your marketing department to a third party agency. But either way, you’ll want your business loan funds well-spent on a savvy marketing strategy. Marketing is key for successful businesses new or existing, nowadays thanks to advances in technology advertising is less expensive and more effective.

Funding For Any Reason

Pre-approved in 24 Hours
Easy process. Quick funding. Does not affect your credit score.
Apply for a Startup Loan

What Are Other Benefits Of Small Business Loans?

Getting startup business loan financing keeps your cash flow high and ensures you can pay not only your employees but also vendors and suppliers. It’s important to keep your relationship with them in good standing, and paying them consistently can do that. Using a business loan and paying it off also helps build your company’s credit, which in turn allows you to get future loans. You may also be able to refinance a loan later on if you’ve built your business’s credit.

How Should You Ensure Your Loan Is Paid Off?

Paying off a business loan will require that you have a budget in place that takes into account your overhead expenses and factors in your loan payments. It’s a good idea to prioritize paying down your loan as soon as possible so that you can free up your cash flow for other needs. But you should also have an exit strategy for your business and paying off the loan just in case things don’t go as planned.

If you have a startup business and you’re ready to see what kind of startup loans are available for you, we can help you find the right option based on your needs and what you qualify for. You’ll just need to make sure you have a plan developed for how you’ll use it, and how you’ll repay it. Contact us today to find out more. 

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