Funding progams include Term Loans, Business Line of Credit, Equipment Fianancing, Cash Advance and Commercial Real Estate collateralized loans.
Loan and advance sizes range from a minimum of $15,000 to a maximum of $10,000,000.
The term of repayment for short-term, unsecured financing is between 3 and 36 months. For term loans it is 2-10 years. Commercial Real Estate loans range from 12 months to 5 years.
First, it's important to discuss your specific needs with our team so we know which program(s) are the best fit for your situation. Once that is determined, you simply submit an application using our simple online application form. Depending on which program is being requested, there will be follow up document requests where specific financial documents such as bank statements, P&L, Balance Sheet, tax returns might be needed.
Annual gross revenue of $800,000 or more.
Minimum 12 months time in business.
All owners of the business above 20% have minimum FICO score requirements for certain programs such as term loans and LOC. Cash advance FICO requirements are generally lower.
Businesses must be based in the United States.
Cash Advance: A fixed payment amount is deducted from your business bank account via ACH on a daily or weekly basis.
Term Loan: Monthly payment includes interest and principal
LOC: Monthly, interest only payments with principal payments due at the end of the term. LOC borrowers can withdraw principal amounts which have already beed paid again within the specified term.
Some programs, such as Cash Advance Loans offer discounts for early repayment.
The rate and pricing of each program is determined by amount, type of program and risk factors. For example, term loans have a fee between 2-6% depending on the amount of the loan which is performance based meaning it is only paid after closing and proceeds are disbursed to the lender.
Depending on the product that you select, you may be charged an origination fee. These fees are always itemized in the funding documents which borrowers must review before closing.
Cash Advance rates are often stated as a "factor rate" or “cents on”. This shouldn’t be confused with an annualized interest rate. For example, a factor rate of 1.24 is applied to the principal amount resulting in the payback amount. Payments are determined by dividing the payback amount which included principal and factor rate by the term in either days or weeks.
Capital Access International is a boutique lending experience which means our team might ask you a lot of questions at first. This is where our experience offers real added value and sets expectations firmly in the realm of feasibility. There may be times that we need to ask for identifying documents such as a driver’s license or building lease information and we may need to confirm your business ownership. These are reasonable precautions that all lenders take.
