Sunovis Financial offers a solution to every business owner who needs capital now! And the solution is fast, seamless and easy. Not every business can wait 30 to 60 days for a loan to process, and some businesses have been denied credit due to lower credit score, low loan amount or because the bank itself is strapped.
Sunovis Financial now offers short-term business loans from $5,000 to $150,000 to small businesses for a period of 3 to 18 months. Daily repayment is made seamless through ACH payments. The application process is streamlined and easy, the documentation requirements are light, and we make the process as simple as possible – so you can focus on your business.
Sunovis recognizes that many small businesses today have short-term and immediate need for quick loans. The business may have a lucrative opportunity and can’t wait for a month or two to access capital. Or the business may need to buy or fix equipment essential to operations now. Perhaps the business has inventory needs, which will bring more to the bottom line. Maybe a business is expanding and has capital needs (hiring, marketing, more inventory or lease expansion). Or perhaps it is in the process of applying for an SBA loan or a refinance, but has immediate needs until that loan is funded.
We can help with short-term business loans today!
Underwriting focuses on the company cash flow and ability to repay, and does not put much weight on credit scores. This can be helpful to businesses that have not built a credit history since the recession began and it can be helpful to those seasoned businesses with a less than stellar credit score (which may be a personal score and has no reflection on the business.)
Who is Eligible?
Businesses which have been generating revenue for at least 1 year, and typically have $100,000 + in annual revenue, though businesses with $250,000 in annual revenue and above are favored.
More than 200 industries qualify, including retailers, service providers, contractors, restaurants. We have included a list of those industries that do not qualify here. Discuss your needs with us!
Businesses with a merchant cash advance loan above $25,000 are disqualified; those with a merchant cash advance loan below $25,000 are eligible but proceeds of the micro loan will be used to pay off the merchant cash advance loan.
Underwriting for our micro loans place weight on cash flow and an operating business rather than personal credit scores. The threshold is at least a 500 credit score, of which a majority of people in the U.S. have.
Typical small business applicants are those with a steady base of clients and credit card transactions or checks for services. Dentists, doctors, restaurants, plumbers, contractors, auto industry, beauty salons, grocery stores, retail shops, veterinarians and hotels are but a few of the ideal candidates for short-term loans.
Fast and Easy Process!
A one page application and 4 months of bank statements / merchant credit card statements if your business takes credit cards is all we need to put together your offer! If you want to include an annual Profit & Loss statement or additional bank statements (if your business is seasonal, for instance), you certainly can.
It is that easy!
Approvals are typically given in 2 to 4 days, and the loan can be funded in as little as 7 to 10 business days. Before funding, business tax statements are required.
- You are a small, healthy business with a customer base and steady cash flow (minimum $100K annual)
- You have been careful about paying your bills (even if your personal credit score may not be stellar)
- You have an immediate need for a loan, and your needed use will typically generate more cash flow to your bottom line.
Sunovis Financial realizes that some newer businesses may not have built much history, and because of the recession and capital market crisis, may not have been able to borrow.
Others may have suffered drops in personal credit scores for any number of reasons – which are not related to or directly involved with the small business.
This is why credit scores are given far less weight for our short-term business loans. If the business is working well for at least a year and has steady cash flow, and the loan will help the business with demonstrated ability to repay, then credit history and credit scores will not be considered very strongly.
Are These Loans Considered Merchant Cash Advances?
No. These loans are true short-term business loans with fixed payments and terms. These loans are typically up to 45% less expensive than merchant cash advances.
This is fast and easy. Simply complete the online information and application. You may call the corporate line toll free 855-697-2256 or use email@example.com