- Fund your new business
- Buy Equipment or inventory
- Lease a store front
Start up Business Funding Made Simple
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%
How to Qualify:
Requirements
- 660+ Credit Score
- Minimum of 3 active tradelines/credit accounts
- Verifiable income ( W2, Paystubs, Taxes etc)
- 30% Credit utilization or less
- Complete Carmalan Financial Application
Get Funding with Carmalan Financial
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.
Startup Business Loans
– Benefits:
How To Qualify
– Requirements:
What Are The Best Ways To Use An Unsecured Business Loan?
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
What Are Other Benefits Of Small Business Loans?
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.