Business Loan amounts for Every Type of Business or Financing need from: $5K-$10million
Why Choose Our Financing?
Working Capital / ACH Loan / MCA Loan
Working Capital:
Small business working capital is technically defined (and calculated) based on the amount of
your current business assets minus your current liabilities: The amount that remains is
considered your working capital.
Though the “right” amount of working capital for each small business varies based on
their industry, sales cycle and supplier relationships, working capital is an important metric to
proactively manage. At Next-Financing, we’re committed to empowering business owners with
access to the working capital resources, to ensure their business has financial stability through
all the ups & downs.
Fast, flexible access to short-term funding is essential to the growth of your business. Our
working capital products feature 3 to 24 month terms and fixed daily, weekly and monthly
payment options. Our extensive bank/lender network will approve almost every business with
the proper amount of revenue and time in business.
ACH Loan:
An ACH Working Capital Loan is basically the same thing as a "Revenue Based" Loan. An
ACH Loan bases the approval amount on the applicant's last 3-6 months of gross revenue or
bank deposits. A solid rule of thumb - if an applicant is depositing $20,000 monthly into their
business banking account or has gross monthly sales of $20,000, their loan approval cap will
most likely be $20K or 1X of their monthly bank deposits. Depending on the industry, time in
business, business owner's credit score and monthly revenue......the approval amount will come
back between .5X to 1.25X.
Flexible terms and rates based on a business’ performance, not their personal credit history,
may make a Next-Financing ACH loan an attractive option when compared to a traditional bank
loan. We offer a quick response to all loan applications by qualifying and evaluating a
business, based upon a variety of important performance metrics.
MCA Loan:
Next-Financing's MCA application requirements are designed with the realities of the small
business owner in mind. We don’t require high credit scores or a robust business credit history.
Instead, our approval process considers a variety of factors, including projected sales volume
and sales history.
Next-Financing MCA's are not actually a loan. Instead, you decide the amount of funding you
need to access (up to your approved limit), based on monthly sales volume. Your repayment
schedule is based on settled credit card and debit card transactions. Many Next-Financing
clients opt to repay their merchant cash advance daily in small percentages, while some choose
a weekly ACH transfer. (repay options are based on qualification guidelines)
Usage of Funds:
Our customers use these funds for buying inventory, taking advantage of timely opportunities,
handling emergencies, buying/repairing/upgrading equipment, managing payroll, increasing
their marketing efforts, hiring additional employees, updating their office and much more. You
never know when unexpected opportunities or costs will occur. It's always wise to have funds
available to protect and grow your business.
When you choose Next-Financing, you’re working with a team of industry professionals who
want to be your funding partner for the life of your business. Our executive team has more than
70 years of collective experience in financial services, and is committed to helping our clients
access a working capital solution that best fits their business.
ACH / MCA Product Info:
Approval Amount: $3,500 - $2,000,000.
3 - 24 Month Pay-Back Terms.
Approvals in 24 hours or less with proper documentation.
Daily/Weekly/Monthly Payments - Paid via Automated ACH.
No Personal Collateral.
Funding Within 1-3 Days!
Minimum Qualifications:
Must have owned business for 3+ Months.
Being in business for 12+ Months will provide better options/terms.
No minimum personal credit score.
Monthly sales revenue of $7,000+ (Minimum average over last 3 Months).
Minimal negative daily balances on primary business account.
Positive Month ending balance - enough to handle future ACH/MCA payments.
Signed Credit Application.
3-6 Months Bank Statements. ( We always ask for the last 3-4 months)
Debt Worksheet (Document to see what other loans/advances the business has.)
Business Loan / Advance Consolidation
When your small business has fluctuations in sales, needs to invest in inventory or equipment to
support its growth, or experiences a delay in accounts receivable, a Merchant Cash Advance or
Working Capital Loan can provide access to the funding you need — without requiring that you
sacrifice your business’s cash flow.
Most traditional lenders offering merchant cash advances consider only business applicants
with an established credit history and years of documented performance. Likewise, many of the
alternative lenders/brokers that advertise cash advance loans charge small businesses
exorbitant interest rates, unreasonable terms and since the business is in a bind.....gets stuck
with multiple advances.
If you are stuck in this type of situation, Next-Financing will pay off up to 6 other MCA's.
Example: You took out a $50,000 advance a year ago and have $20,000 remaining, but would
like to pay off the existing $20,000 with an extreme APR and then get an additional $20,000.
We would simply pay off your outstanding balance of $20,000 with your current lender and
structure a new advance with your newly approved amount of $20,000 - bundled into one single
$40,000 advance, which only requires one single advance payment.
We offer transparent working capital and MCA solutions, which are designed
to support the needs of small businesses, including startups that have been in business for as
little as 3 months.
Consolidation Product Info:
Approval Amount: $20,000 - $2,000,000.
12 - 60 Month Pay-Back Terms.
Approvals in 48 hours or less with proper documentation.
Daily/Weekly/Monthly Payments - Paid via Automated ACH.
Personal or Business Collateral May Be Required.
Minimum Qualifications:
Must have owned business for 12+ Months.
Personal credit score of 500+ or have collateral to leverage.
Monthly sales revenue of $20,000+ (Minimum average over last 3 Months).
Minimal negative daily balances on primary business account.
Signed Credit Application.
3-6 Months Bank Statements. (May need 6 Months - depending on consolidation.)
Debt Worksheet - Mandatory.
Real Estate Worksheet - Collateral - If Applicable.
Facilities List Worksheet - Collateral - If Applicable.
Term Loan
Grow & Invest In Your Business
Some businesses have different needs, so they demand and deserve financing with
longer/better terms. Maybe you’re looking to remodel or expand. Maybe you have an
opportunity to buy out a competitor. Our term loan will enable you to get the capital you need for
your growth project, and take up to five years to repay. Next-Financing's Term Loan offers low
rates and flexible terms, and does not require collateral.
Leverage the success of your business into a loan with better terms. For those business owners
who have weathered the storm for 1+ years, our term loan product was built with you in mind.
Award Winning Experience. Highly Competitive Pricing. No Prepayment Penalties.
We offer easy to understand, award winning, credit products with customer-friendly
features like no prepayment penalties, 1-3 year pay back terms, Weekly, Bi-Weekly and Monthly
payments and highly competitive pricing with rates starting at 8.99%.
Our Term Loan was built to allow as both a reward and to be used as a tool for your business to
grow. Move or expand your working space: Give your business room to grow with a bigger
office, new retail location, or more warehouse space. Refinance Debt: Convert high-interest
debt into one monthly payment at a fixed rate you can afford, with no early repayment
penalties. Buy inventory or equipment: Invest in new equipment and fulfill every order
through bulk inventory purchases. Hire More Employees: Take your business to the next level
by expanding your team and adding new skill sets.
Term Loan Product Info:
$20,000 - $500,000.
1-3 Year pay back terms.
No pre-payment penalty.
Interest rates starting at 8.99%.
Application to Funding within 1-3 days.
Weekly, Bi-Weekly & Monthly Payments.
Use the funds for pretty much anything your business needs: SBA Bridge Loan, Expansion,
Inventory, Payroll, Staffing, Marketing, Debt Restructure, New Equipment, etc.
Qualifications:
1+ years in business.
620+ personal credit score.
$20,000 minimum monthly revenue.
Signed application.
6 months most recent bank statements.
Debt Worksheet - If Neeeded
Inventory Loan
If you manage different products and need to maintain inventory, having cash at hand is
essential. Meeting the demand of your customers is vital to your profitability and business
reputation. Running a business can put you in a position where you must make a purchase that
is only offered for a limited time or has a short shelf life, requiring you to come up with an
immediate capital solution. Aside from this, seasonal shifts in sales and supply volumes can
take a toll on the working capital of a business. This can create a greater demand for more
inventory than usual, which is why an inventory loan would be valuable to your business.
Seasonal Inventory:
Many businesses experience cycles in their supply and demand, often referred to as the “busy”
and “slow” seasons. For example, retail business tends to boom around the end of the year
during the holidays, while travel-related businesses boom in the spring and summer. Busy
seasons bring in large volumes of capital and customers, but they also require more inventory
than what’s typically kept on hand during the rest of the year.
To avoid running out of inventory during peak season, inventory loans allow businesses to attain
the supplies they need to keep up with fluctuating periods of demand in their industry. Inventory
loans can help a business take advantage of busy seasons so they can survive through the
slow seasons.
Short Term Inventory:
Some products are available for a limited-time or in limited amounts. This means that some
companies will be able to offer them to their customers, while others will not. In order to
succeed over competing businesses, it’s imperative to secure your product quickly with access
to readily available capital at short notice.
Similarly, some businesses in certain industries need to acquire a product that has a short shelf
life. These products will need to be acquired, shipped and sold within a short time frame.
Inventory loans are designed to cover these situations so businesses don’t miss out on shortterm opportunities. They provide the necessary flexibility to keep up with competitors and
maintain an edge on emerging trends.
Unsecured Loans to Finance Additional Supply/Inventory:
Contrary to a traditional bank loan that secures your product as collateral, an unsecured
inventory loan with Next-Financing will have a shorter overall term with no collateral
requirements. It’s important to maximize your working capital because the market is always
changing and new and improved products are created every year. Unsecured inventory loans
with Next-Financing are designed with this in mind, ranging from 3 to 24 months.
Line of Credit - Revolving
Manage your business
with lines up to $250,000 and APRs as low as 13.99%
Flexible working capital
How it works: Draw the cash you need directly into your business checking account at any
time. Only pay interest on what you draw. Pay back your balance early any time.
Use your line of credit to:
Manage accounts receivable gaps
Take advantage of new opportunities
Manage unexpected expenses
Because of the cyclical nature of business, you may need to borrow money to meet your shortterm needs or goals. One commonly used option to obtain these funds is by securing a line of
credit.
A line of credit is an arrangement with a financial institution that establishes a maximum loan
the lender will allow the borrower to take. You can withdraw any increment from the line of credit
at any time, as long as you don’t exceed the maximum set in the agreement.
A business line of credit is similar to a credit card, since you use it as you need it. You make
payments on a regular, predetermined schedule, and you can borrow or use more as your
principal is paid down.
How can I use a line of credit?
Many businesses utilize business line of credit loans to increase their working capital. Using this
type of loan is a great way to bridge the gap between the tasks you need to do and the cash
flow you need to get them done.
Lines of credit are mainly to help even out your cash flow. A line of credit loan is typically used
for short-term working capital needs like covering payroll when you hire new employees;
purchasing inventory during a busy season or to fulfill a larger order; or offsetting seasonal
lapses in cash flow.
Is a line of credit loan a good fit for my business?
While it’s ideal to have savings to help your business weather storms, the next best thing is to
apply for a line of credit. Business credit lines were designed to help you meet short-term cash
needs, such as purchasing supplies or additional inventory or covering operating expenses.
Essentially, a business line of credit can help small businesses thrive and grow.
A business line of credit is a good option to offset fluctuations in working capital when your
expenses stay constant. A line of credit will give you access to funds to continue to pay bills on
time or purchase additional inventory if needed.
The advantage of a line of credit over a regular business loan is that interest is only charged on
the funds you actually use. Additionally, your business can draw on the line of credit at any time
that you need.
Line of Credit Product:
*Credit Line approvals up to $250K
*Interest Rates from 13.9% - 24.9% - Your line amount and rate will be based on the
assessment of your business along with your business and personal credit.
*Fixed Weekly or Monthly Payments - Automatically deducted from your business bank
account, so you don’t have to worry about missing due dates.
Line of Credit Minimum Qualifications:
*Been in business for 12+ months
*620+ Credit Score
*Monthly Gross Revenue - $25K+
Invoice Financing
Why Invoice Financing? Invoice Financing provides businesses with "on demand" access to
funding, using your outstanding invoices as collateral. Invoice Financing with the help of
technology is different than Invoice Factoring. Traditional Invoice Factoring involves the sale of
unpaid invoices or collections to a third party. This usually involves selling your own
customers' contact information to a third party factoring company. Invoice financing lets you take
better advantage of your outstanding invoices, without paying outrageous fees and without
selling your customers to a third party.
6 Reasons - Why Smart Business Owners Use Invoice Financing
Does not create long term debt. This is money you've already earned. You simply pay a
small fee to access the invoice funds, while you provide 30/60/90 day terms.
Takes the stress out of invoicing. No more worrying about customers paying past 30 days.
New Opportunities - If you want to expand your business, you need a healthy cash flow,
which will allow you to go after larger projects.
Fully automated and synced to your accounting software - easy reporting.
Fast Funding and Much smaller fees than a MCA. Funds available as soon as next
business day
Invoice Financing grows with your business. As your business grows, your approved
"credit line" will grow along with it.
If your business invoices on a regular basis, this is an absolute no brainer. It costs nothing to
get set up. Once you're set up, you will have a new best friend.
*We provide Equipment Lease Financing for both Prime and Sub-Prime (Substandard)
applicants, which allows our vendor partners to maximize their revenue opportunities
across the board.*
Most businesses need equipment. For some, it’s as simple as a smartphone and tablet
computer, for others it’s a 3D Image Scanner and a specialty printer, or a Box Truck and Forklift
or even a Commercial Truck and Trailer. Some equipment can be used for many years, while
other items might be obsolete in 24 months. Some must be acquired new, while others can be
purchased used from an auction. Some can be purchased outright, while others can be leased.
But no matter what you need or the capital you have on hand for it, there are ways to get
equipment–and finance it.
We work with nearly every business specialty and equipment type. If you need to add
equipment to your business, but you don’t want to tie up your capital, then this is the loan
product for you. Equipment Financing is available with little or no down payment, in both lease
and loan options. The approval process is fast, the payment schedule is affordable and there
are potential tax advantages.
Equipment offerings for specific niche industries:
Commercial and Industrial
Trucking and Transport
Commercial Vehicles
Franchise and QSR
Gas, Convenience Store and Car Wash
Healthcare
Hospitality
Merchant Finance
Technology and Software
2020 Tax Incentive: Section 179
Tax provisions accelerate depreciation on qualifying business equipment, office furniture,
technology, software and other business items. When you finance such purchases with NextFinancing, you may deduct a significant portion, up to $510,000 in 2020 (to be adjusted for
inflation). There is a dollar-for-dollar phase out for purchases over $2 million. Additionally, any
qualifying purchases in 2020 may also take 50% bonus depreciation in the first year plus their
regular MACRS depreciation on the remaining 50% portion of the cost basis. Consequently, not
only will Section 179 help bolster your bottom line, you garner the benefits of new equipment
and technology that will help grow your business.
Invest/Purchase Now:
To capture these tax savings, qualifying property must be placed in service before December
31, 2020. Simply choose your business equipment and Next-Financing will design payments to
help you make a profitable decision.
Equipment Lease Financing Programs:
"A" Credit Program:
5+ years time in business.
650+ Credit Score.
Application only Available on equipment purchases up to $250,000.
Approvals up to $10 million.
"B" Credit Program:
2+ years time in business.
650+ Credit Score.
Application Only Available on equipment purchases up to $150,000.
Approvals up to $2 million.
"C" Credit Program:
Under 2 years time in business.
Under 650 Credit Score.
Monthly Gross Revenue = Cost of Equipment.
Application Only Available on equipment up to $60,000.
Approvals up to $1 million.
Down payment Required - 10-40%.
"Start-Up" Program:
No time in business required
600+ Credit Score
Application Only Available on equipment purchases up to $25,000
Down Payment Required - 10-40%
Equipment Financing Info:
$20,000 - $10,000,000 Equipment Financing.
12-84 Month payback terms (Typically 36-60 months).
Approvals in 24 hours or less with proper documentation.
Affordable monthly payments.
Deferred payment options.
Low barrier of entry cost - Typically $0.
No personal collateral for most programs.
Funding to equipment vendor within 48 hours.
Includes software/hardware packages.
Both New and Used Equipment.
Application-Only Express is available for qualified applicants.
Qualifications:
Programs for start ups to prime credit business owners.
$20,000+ Monthly Revenue.
500+ Personal Credit Score.
3-6 Months Bank Statements.
Signed Credit Application.
Equipment pricing invoice of equipment being purchased - quoted price from the approved
vendor or seller.
*Financials are required for larger deals that exceed approved program tier amount, such as
last year's tax return, balance sheet, Income statement and YTD P&L.
Business Factoring
Our mission is to provide fast financing, exceptional services, low rates, and the capital you
need to manage your business. We bridge the gap between invoicing and payment with
immediate cash. We are a team of real people addressing real problems and providing real
solutions.
With X-Factor's invoice factoring services, you can have your cash today, while still having
control of your business. We understand cash flow is vital to your business and we are here to
partner with you.
Trucking: With freight factoring you can pay drivers,
insurance, fuel, and other expenses now – with peace of mind
and speed. Factor all or only some of your invoices. Never
turn down another load because you can’t pay fuel or driver
cost. Transportation factoring makes growth possible.
1. Complete Load Delivery 2. Assemble Rate Confirmation
and B.O.L. 3. Produce or Provide Invoice 4. You are paid the
same day.
Freight Brokers: Your business is complex, so we keep our
part simple. Over 200 transportation intermediaries have
turned to our invoice factoring solutions to manage their cash
flow, protect their credit ratings and secure truck capacity.
1. Book a load. 2. Dispatch a truck. 3. Confirm delivery and
send in your invoice and paperwork. 4. You and your carriers
are paid within 24 hours.
Government Contractors: Delays in getting paid can put the
squeeze on government contractors. Learn how invoice
factoring as a means of government contract financing
provides working capital to keep your company going strong.
1. Send us your contract. 2. We will notify contracting agency
of assignment. 3. Submit invoice with proper documentation.
4. You get paid same day.
Oil and Gas: Oil, gas and energy companies need operating
capital upfront. X-Factor invoice financing can provide cash
now for your accounts receivables at a discounted rate so you
can meet your oilfield funding requirements.
1. Crews complete job or work order. 2. Collect signatures on
paperwork. 3. Provide Invoice and Supporting Documents.
4. Cash Flow starts flowing in 24 hours.
Staffing: Payroll funding and cash flow worries shouldn’t limit
your company’s growth. Learn how accounts receivable
financing can insure your staffing company makes payroll on
time, every time.
1. Employees submit their time card. 2. Process Payroll
3. Submit invoice and time cards. 4. You're paid same day.
Small to Mid-Sized Businesses: Learn how accounts
receivable financing can put an end to your cash flow
problems. X-Factor makes invoice factoring easy so you can
recharge your operating capital and get back in business.
1. Complete the service being rendered. 2. Assemble signoffs or completed work orders. 3. Provide invoice supporting
documents. 4. You're paid same day.
Our factoring rates start as low as 0.55% and are usually no more than 2%. We do not use the
same flat rate for every client. We know that every business is different and deserves a
customized financing program and we want your business to get the lowest possible rate.
Credit Line: $25K - $5MM/Month Advance Rate: 95-97%
Days to Fund: 2 Credit Line: Up to $5MM/Month
First 30 Days: .55% - 2% Monthly Access Fee: $0
In-House Underwriting: Yes Dedicated Account Rep: Yes
Credit Approvals: $35 Over-advance Fee: None
Lock Box Fee: $50 Same Day Funding Fee: None
Early Wire Fee: None Outgoing Wire Fees: $30
Some companies offer an attractive 1% "teaser" rate, but keep in mind this is a weekly rate, so
it increases by one percent each week. On a net 30 day payment, their rate is really 4.5% and
on a net 60 day payment, it would be 8.5%.
Let us break down what the cost really looks like after 30 and 60 days.
Factoring a $10,000 invoice at a weekly 1% rate would cost you $450 at day 30 and $850 by
day 60. X-Factor provides a monthly factoring rate; if you were to agree to a 1.5% rate the
same $10,000 would cost you $150 at 30 days and only $300 at 60 days; less than half of what
a weekly rate would cost you. Basically 1/3 of what their "teaser" rates end up costing.
SBA Bridge Loan
What if you could get the funded you needed in 3-7 days AND end up with the terms and
structure of an SBA Loan for the next 10-25 years? Would you consider that a win/win or the
best of both worlds? Let's talk about our SBA Bridge Loan.
Traditionally, bridge financing is a short term business loan used as temporary financing until a
more permanent financing facility is in place. Most bridge loans are used for immediate working
capital needs and are usually paid-back in 1-12 months. Being that an SBA loan may take up
to 2-3 months for funding to be accomplished, a company may find themselves needing
immediate working capital that wouldn’t be available for weeks. In those instances a company
may seek a bridge financing option to help meet their needs until permanent SBA financing is
completed.
The key is to secure a Premium Term Loan Product (Which we offer) that doesn't have a prepayment penalty, as you will be paying this temporary bridge loan off when your SBA funding is
finalized and funds your account. We like to think of the bridge loan as a tool to get to the end
product, which is the premier business loan product for the long term - The SBA Loan. But,
there's no reason you can't have your cake and eat it too!
Product Info:
$20,000 - $500,000.
1-5 year pay back terms.
No pre-payment penalty.
Interest rates starting at 7.49%.
Application to Funding within 2-5 days.
Weekly / Bi-Weekly / Monthly Payments.
Use the funds for pretty much anything your business needs: SBA Bridge Loan, Expansion,
Inventory, Payroll, Staffing, Marketing, Debt Restructure, New Equipment, etc.
Qualifications:
12+ Months in business.
650+ personal credit score.
$200,000 minimum annual revenue.
1-2 years personal tax return.
1-2 years business tax return.
Signed application.
6 months most recent bank statements.
YTD Financials
SBA Express Loan
We take the confusion out of getting an SBA loan. Get funded
without the headache.
An SBA express loan is aimed at assisting a small business owner in getting financial
assistance faster than the conventional loan programs provided or backed by the US Small
Business Administration. This loan facility is another way for borrowers to get quick loans via
more streamlined application and documentation processes. Finally, the main reason why this
loan facility is called express is due to its 36-hour turnaround time.
SBA express loans are offered through banks and lenders. Since the SBA has given the lenders
the freedom to use their own forms and policies with regard to endorsing loans to the agency,
the processing time for such loans is significantly lessened.
Who Is Eligible for an SBA Express Loan?
Anybody who is within the age of maturity can apply for this type of loan. However, if you intend
to take advantage of this debt facility, you have to show concrete plans on how you will use the
proceeds. It is important that you show the lender that you will use the proceeds for starting,
expanding or boosting your small business.
The requirements of the loan are similar to typical commercial business loans. The most
important thing that you need to prove, however, is that you have the capability to repay your
loan on time based on the profits and cash flow of your business. Also, having a good credit
background is a plus. Collateral is not really needed to back such a loan, provided that the
amount is $25,000 or below. Anything more than $25,000 should be secured. The maximum
amount that can be loaned is $350,000.
Interest Rate of an SBA Express Loan
The borrowers can try to bargain for lower interest rates because the lender is the one that will
determine the rate applicable to the loan. However, the SBA has ruled that the maximum
interest that lenders can charge is 4.5% for loans above $50,000 and 6.5% for loans that are
$50,000 or below.
Advantages of This Loan
The processing time for an SBA Express Loan is fast - typically under 30 days. Furthermore,
people who are unable to obtain traditional credit lines have a chance to secure credit under this
product. It's also a great way to refinance current business loans with high interest rates.
If you are a business owner who qualifies for an SBA loan, willing to jump through the hurdles
associated with the approval process.....AND can afford to be patient for 30-45 days to allow
funding to happen, an SBA Express loan is the product for you.
Product Info:
6.25-7.25% interest.
10+ year payback terms.
Up to $5 million - Standard SBA - Funding in 1-3 months.
Up to $350,000 - Express SBA - Funding in approximately 2-6 weeks.
Collateral may be required.
Qualifications:
Must be in business 2+ years.
650+ personal credit score.
6 months most recent bank statements.
2 years personal tax returns.
2 years business tax returns.
debt settlement worksheet.
P&L (current) for their business.
Income Statement for their business.
Personal financial statement.
Phone interview
SBA Commercial Real Estate Loan
100% Financing Option
Purchase or Refinance Commercial Real Estate
Next-Financing is excited to introduce a new 100% financing (no down payment required)
product for commercial real estate!
As an advocate for small business owners nationwide, we are always working to find ways
to provide great financing options to business owners. We're proud to be able to facilitate a
100% financing Commercial Real Estate Product through our SBA Bank. This solution has
BIG benefits for borrowers who don't want to reduce their cash flow, and keep their money
invested in growing their business!
With 25-year terms and interest rates ranging from 5.50% to 6.75%*, SBA 7(a) loans are a great
option for small businesses looking to refinance an existing commercial real estate mortgage,
buy an office building or other owner-occupied commercial space.
Take advantage of all of the benefits of the SBA 7(a) Commercial Real Estate Loan:
25-year, fully amortizing term means low monthly payments
Loan amount of $350K - $5 Million
Variable interest rate of Prime + 1.50% - 2.75%*
No loan maturities or balloons
Borrowers build equity value and long term net worth
Potential tax savings
To qualify, borrowers must be in business for 2 years, have a credit score of 660 or higher and
the loan payment must not exceed their current monthly rental expense.
How It All Works
1. Pre-qualify for an SBA 7(a) Commercial Real Estate
Loan
Pre-qualify in as little as 5 minutes without impacting your
credit score. Simply provide basic information online and we’ll
automatically tell you if you prequalify for an SBA commercial
real estate loan from $350,000 to $5 million.
2. Provide Financial Information
Provide financial information about your business and its
owners. Your dedicated Relationship Manager can help with
any questions.
3. Accept Your Letter of Intent
You will receive a non-binding letter of intent (LOI) outlining
details of the SBA commercial real estate loan so you can
negotiate terms with the property seller or your existing lender.
4. Conduct Property Valuation
During the SBA commercial real estate application process,
the property you’re interested in will be valued. Your dedicated
Relationship Manager helps facilitate this step.
5. Get Funded
Upload requested documents to complete your application.
We'll work with you through the loan closing process. Funds
can be wired for closing in as fast as 30 days after credit
approval.
Qualifications
Yes/Approved:
At least 51% of the property's square footage must be
occupied by, and used by, your business
2+ years in business
Business owners must be U.S. citizens or legal permanent
residents
Business owners must have personal credit scores above 675
Cash flow to support loan payments
The estimated purchase price must be greater than $350,000
100% financing option requires a loan payment that does not
exceed the current monthly lease expense
No/Not Approved:
Developers or landlords that are not actively occupying the
property
Investment properties (for example, the majority of the property
will be leased or it is a real estate flip project)
Bankruptcies or foreclosures in the last 3 years
Prior default on government backed loans
Outstanding tax liens
Construction (for example, purchasing an empty lot and
building a new structure)
1 Application-17 Lenders-All Your Options
Approvals Up To $100K - Instantly!
Everyone knows it's almost impossible to get their hands on start up capital, unless you
approach your family, friends or find an investor who wants a large percentage of your business.
It's time to leverage the confidence you have in yourself and secure a Personal Loan and use it
to fund your dreams. Launch your business with your own capital that you secure through our
Personal Loan Platform. You can use our Platform to gain access to funding for many things on
your "want" list. For example: Debt Consolidation, Home Improvement, Student Tuition,
Special Occasion, Vacation, Auto Purchase, New Baby Expense, New Boat Purchase, Medical
and Dental Expenses, Moving and Relocation, Taxes and much more.
Introducing Next-Personal, which allows anyone seeking a Personal Loan for any reason to
submit one application and have access to all their qualifying options within seconds. Favorable
loans have been difficult to come by and people don’t know where to go to get the best possible
rate. This is where Next-Personal comes in. Powered by Fintech, the platform infrastructure was
built to make it easy to get access to the very best loan for your personal situation.
Basically, our platform matches applicants with the right financial products and services at the
right time, while providing transparency and reduced cost of acquisition to online financial
service providers. It’s a win-win for everyone. Unfortunately, seeking a personal loan online
today can involve a complex web search with hard to navigate relationships and regulations for
both applicants and lenders. Next-Financing’s approach was to simplify the entire process for
all parties. Not every applicant is the same and not every personal lender is the same, so why
not give you a crack at 12 lenders all at once and have them compete for your business? Go
for it!
Frequently Asked Questions:
Q: What are the interest rates?
A: Interest Rates do not exist in the Working Capital/Receivables World. These are not the type of loans you seek to use long term, but rather short term to help grow your business. We buy your future receivables at a discount by using a factor number. For example, in exchange for $10,000 today, you agree to pay back $13,000 – a factor of 1.30.
Q: What if I have bad credit?
A: Our agreement to buy your future receivables is primarily based on sales history and the probability of having future sales. Certain credit score qualifiers will expose your business to a different set of terms or approval amounts, but it typically will not keep you from receiving an offer if your revenues are strong.
Q: Do I need to accept credit cards to get approved?
A: No. You do not need to accept credit cards. We consider all forms of business receivables while reviewing an application, including cash, checks, and electronic receivables.
Q: Do we have a Spanish version of our application and instructions? Do we have Spanish speaking Reps?
A: Yes, we have a Spanish version of our application and all of the documents needed to get started and we would be happy to pair you with one of our Spanish speaking Sales Directors to assist you through the process.
