Our Small Business GROWTH Loan is unsecured and does not require collateral as security, as a result our cost for capital is higher compared to bank term loans. Besides our low fico score cut-off (520), we also take into account your industry. In terms of industries served, we have a very large group of industries that are on our "approved" list rather than having a host of industries on our "restricted" listings similar to that of conventional banking sources. Our underwriting criteria welcomes most industries and only restricts those in the finance, insurance and some areas of the business consulting sector. The reason those industries are restricted is due to the nature of their operations in terms of how we structure our approval procedures.
From the Retail, Service and Manufacturing Sectors, we strive to serve small business owner-operators in a variety of industries. Our core target market includes small businesses with 1-20 employees, up to $5 million in gross sales and with involvement in virtually any industry except the finance/insurance sectors. We call these individual entrepreneurs, "small business owner-operators," and they are the core of our operational focus along with product niche.
Alternative financing sources will play a bigger role in the growth, development and sustainability of small businesses than ever before in the 21st Century. Traditional lending excludes many small businesses and as a result, when a small business stumbles upon strategic growth initiatives or emergencies, our capital might be the only reliable option available.
If you are in a position of growth, development or sustainability, contact us today to begin a free consultation on how our Small Business GROWTH Loan can fulfill your objectives. Our funding ranges from as low as $10,000 to as high as $5 million, with risk based pricing and short term cycles from as low as 6 months to 24 months. Approvals are based on about 10% of annual sales.
Give us a call at 586-210-6010 or email us at Support@1stCapitalLoans.com to begin your consultation. Our professionals will provide a customized package for your needs. We look forward to helping you grow, develop, and sustain your business through the utilization of our innovative financing, technology, and risk management solutions!