At Webb Commercial Funding, we know how valuable business financing can be. However, we also recognize that getting you your money quickly is just as critical. When you need business funding, you need it today, not tomorrow. That’s why we’ve dedicated ourselves to making it easier than ever for small and mid-sized business owners to obtain quick working capital loans.
The length of the loans can be customized, usually 3 to 18 months, and they require relatively little paperwork and a simple application to start. Funding amounts are generally $5000 to $500,000.
The underwriting and approval process are designed to provide business owners quick answers. Once approved, funds are available in as little as 24 hours.
Payments are made via automated daily, weekly, or monthly debits via ACH from your business bank account.
Most importantly, average or poor credit is not a deal breaker. These loans rarely require any equity or personal collateral.
Long-term business loans can provide your business with financing that can be repaid over several years. Business owners usually use it to meet long-term financing needs such as construction, equipment financing or purchasing an existing business. Terms usually start at two years or more, although 10 to 20 years is more likely, with amounts from $25,000 to $200,000.
The benefits of long-term business loans typically include larger funding amounts and lower interest rates and payments, compared to short-term business loans. However, short-term business loans are usually paid back over much shorter periods of time, so they can have lower total costs than long term loans. As with any business lending, you should compare the costs and terms carefully and find the one that works for your business. Most long-term loan lenders require a personal credit score of the business owner to be above 700.
An SBA loan is a government-guaranteed small business loan that has a long term and a low interest rate. The Small Business Administration (SBA) is the government agency that partially guarantees SBA loans. To be eligible, a business must been active for 2+ years, and the business owner's personal credit score must be above 650.
In the not-so-distant past, small business owners had one option when looking to apply for an SBA loan—walking into a bank. However, many businesses might not know that while one bank may say 'no', another bank will say 'yes' to the same potential borrower. With multiple banks with varying credit requirements on our platform, we’ve been able to help many applicants successfully apply for an SBA loan who were initially rejected by their local banks. Getting approved by the SBA can be a lengthy and challenging process, but if approved, the loan usually comes with favorable rates and terms.