Top commercial lending offers Denver, CO? Sale and lease back option: In this program, businesses have the option of leasing the equipment until all payments have been made. Then, the business will own the equipment at the end of the lease agreement. Startup businesses: This program is specifically designed for new businesses that have existed for two years or less. Instead of having to pay for the equipment upfront and spend precious monetary resources, startups can finance any heavy equipment and grow the business without the worry of huge financial loss. Aspen Commercial Lending offers the equipment financing you need to help your business thrive. Contact us to speak with an expert today to learn more about this opportunity and begin the process to secure this type of financing today.
Build credit scores. Your FICO score is commonly used in lending decisions, and small business lenders require a personal credit score for a loan application. If your business is more established, it will have its own credit score ranging from 0 to 100. Know the minimum qualification requirements. Meeting the lender’s minimum qualification requirements will make you a stronger candidate for receiving a loan from them. Some lenders are a little more flexible if you over-perform in one area while underperforming in a different area. The SBA has stricter requirements, while online lenders can be much easier.
The first stop for anyone looking to finance a commercial property is generally a conventional mortgage from lenders like banks or credit unions. These loans work a bit differently from residential mortgages in that they usually have shorter term lengths. One of the advantages is that conventional mortgages, once secured, often have better interest rates than other types of financing. Additionally, you’ll need to qualify, meaning your company should have excellent credit, several years in business, and proof of income. Be prepared to put in at least a 10% down payment if you go this route. It’s also important to be aware that mortgage lenders typically base their loan on the value of the property, so you’ll have to get a professional assessment of your intended property done in order to lock in the best possible rates. Read more information on Commercial Lending.
If you struggle to get approved for a small business loan or any other type of loan from a traditional bank or credit union, it may be time to explore more creative options. At Aspen Commercial Lending, we offer business owners the opportunity to borrow against their credit card sales via a process called merchant cash advance. If your business is approved for a cash advance, our team at Aspen Commercial Lending will give you up to $200,000 for each business location. Your advances are then taken against your credit card sales to come. We don’t discriminate against credit card companies and will gladly advance funds against sales from MasterCard, Visa, Discover, American Express or any other eligible company. Once approved, you can expect your funds in no more than seven days.
Here at Aspen Commercial Lending, we take helping your business grow seriously. That’s why we offer a range of commercial finance products designed to assist businesses of all sizes and across many industries. No two businesses are exactly alike and should not be treated as such. We believe your business deserves tailored commercial lending plans and business loans to help you reach your goals. To do that, our experts analyze your financial situation and consult with you about the products that may be best suited for your needs. From there, we help you choose the loan type and amount that works best for your company. Discover even more details on here.