Written for owners, not for underwriters. No gated PDFs, no "speak to an advisor to learn more" — the actual arithmetic, including the parts that are unflattering to us.
What an underwriter is actually reading, why two lenders price the same business differently, and the only three numbers you should compare.
Business lenders judge five things: credit score, time in business, monthly revenue, cash flow (existing debt and bank balances) and collateral. The published minimums for each product are in one table below, so you can find your yes before you apply.
Interest rate, factor rate, APR and total cost of capital are four different numbers. Here is how to convert between them and which one to decide on.
A checklist by product. Having these ready is the difference between funding in 24 hours and funding in three weeks.
7(a) is the flexible workhorse. 504 is fixed-rate money for buildings and heavy equipment. Picking wrong costs you years of payments.
The same $50,000 through two products, with the arithmetic shown. Read this before you sign an advance.
Three or four daily debits will kill a profitable business. The consolidation paths that exist, in the order to try them.
Reconciliation, confession of judgment, prepayment, double-dipping on renewal. The clauses nobody reads to you, in plain English, with the exact question to ask about each one.
Lenders read your trailing three months. Apply in your best quarter and you get a bigger limit for the quarter that hurts.
One application, 14 programs, no fee to you.
Checking your options does not affect your business credit. A soft review only.
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