Small Business Loans in Denver
Denver is a city of innovators, small business mavericks, and entrepreneurial minds. With one of the highest levels of small business ownership across the nation, Denver ranks high on the list of medium-sized cities with a healthy population of small business professionals who need access to affordable small business loans. While the Mile High City boasts amazingly clear views of the Rocky Mountains, the pathway to obtain an affordable and responsible small business loan is not always as clear. For those in the Denver area who are seeking small business financing, look to All Business Loans for responsible alternatives to big banks and credit unions.
Banks and credit unions historically have low approval rates, high credit qualifications, and long, drawn-out underwriting timeframes. The problem with these traditional channels is that too many applicants are turned down, money isn’t accessible quickly enough to solve most short to medium term financial situations, and business owners must have nearly perfect credit to qualify. For those businesses that are located in Denver and need small business financing, consider the benefits of either a merchant cash advance or an unsecured small business loan through All Business Loans.
Our simple application process begins with a quick, 10-question survey. Once this is complete, one of our loan representatives will contact you directly to talk about next steps. We’ll gather a short list of important documents like bank and merchant credit card statements, and use this information to determine an approved loan amount. Unsecured small business loans are generally designed for businesses that haven’t been in existence for too long.
Our network of affiliated lenders will be able to handle the specifics for your business. For merchant cash advance loans, we can typically lend up to double your company’s monthly credit card sales receipts – up to $500,000. A key feature of a merchant cash advance loan is the flexible repayment terms. Merchant cash advances are repaid through a process called holdback. Essentially, the lender holds back a specific percentage of future credit card sales until the loan is paid back. This means that on slower sales days a company needs to pay less toward their loan. On days with higher sales figures a company will pay more toward their loan – accelerating the payoff time.
Denver small business loans take many forms. Banks and credit unions offer small business loans to the highly qualified who have weeks or months to wait for an approval. Alternative lenders like All Business Loans know that many small business owners have challenged credit, limited time in business, and immediate needs for small business funding. For these companies, an unsecured loan or merchant cash advance loan from our lenders may provide the peace of mind you need to keep growing your business!