Small Business Funding With Main Street Finance Group
There are times when every business has a need for a fast infusion of cash. A an opportunity arises, such as a great deal on products or services, that might help your business grow. Many times, these great deals are time-sensitive. They require that you close right away or lose the deal. If you do not have a lot of cash on hand, you may consider asking a bank for a loan. Unfortunately, bank loans are slow, and largely unavailable to businesses that are not multi-million dollar enterprises. Situations like these are where a small business funding solution may make sense…dollars and cents.
Main Street Finance Group is an experienced firm that helps business owners find alternative funding options to conventional commercial loans. While so-called “traditional bank loans” require assets, great credit scores, loads of paperwork, and a lot of time to process, our program is different. We can get our clients approved for a business cash advance within 24 hours and get them the cash they need in days. We also offer lines of credit, collateral loans, and equipment financing that have the same fast application process.
Here are some of the advantages of working with us:
- Fast Approvals – We can approve your company for a business cash advance in hours. In many cases we simply need a one page pre-qualifying application filled out and sent to us with the company’s last 3 months bank statements to find your company a deal. We use those numbers to determine the size of your business cash advance. It is truly that simple.
- Cash In Your Bank In Days – Once you are approved and accept the terms, funding can take just a few days. We provide loans anywhere from $5,000 to $500,000
- Bad Credit Is OK – The small business lending industry was adapted to assist companies that were too small to have assets or revenue to qualify for traditional bank loans. In much the same way, Main Street Finance Group appreciates that business owners with imperfect credit ratings still have successful, profitable businesses that can reasonably afford financing. Please contact us regardless of your credit rating and we will do our best to surprise you with what we find.
- Collateral / No Collateral – We offer both asset-backed and non-asset-backed loans. This means that while we can help business owners use their real estate or large machine assets for collateralized loans, merchant cash advances do not take assets into account.
- Loan Restructuring – Another common but extremely complicated situation small businesses find themselves in is when they already have too much debt from prior business loans. While we can’t help everyone in this situation, if there is a way to affordably consolidate or pay-off existing business loans we will find it.
- No Personal Guarantees – Large lenders make personal guarantees and assets are mandatory for business loans, but they’re not telling the whole story. The reality for most small business owners, even very successful ones, is that they simply can’t be expected to meet these requirements. The vast majority of the loans available today for small businesses are not asset-backed or require personal guarantees.
- Flexible Pay Back Plans – Typically, if a business is lucky enough to be approved for a traditional loan they will be required to adhere to a pretty strict payment schedule. Our program can offer qualifying businesses a variety of options for payback, including daily & weekly ACH payments. Payment schedules can vary anywhere from 60 days to up to 18 months or more. In some cases there are also rewards for early pay-offs. We also work regularly with businesses that are dealing with emergency funding situations or are seasonal and will always take that into account when finding them an offer that is right for them.
- Freedom with Funding – Most merchant cash advances and other funding programs we offer do not put any restrictions on how companies use their funds.
- Experienced, Friendly Service – We pride ourselves on our great customer service. We treat everyone who contacts us with respect. We’re business owners too. We understand what it takes to succeed as one. If your business is looking into getting funding, choose us for great products and industry-leading customer care.
We invite you to giveus a call at (866) 739-5558 or email us and find out if a business cash advance, collateral loan, line of credit, etc., is right for your business. Our experienced staff has the knowledge needed to find any possible solutions to your small businesses’ funding needs.We hope to add you to our growing business cash advance client list.
Information about Interest Rates & Non-Payment
The rate at which your loan accrues interest is known as the Annual Interest Rate. Lenders are required by law to show the APR before a lendee enters in a loan. For a long-term business loan, an example APR rate may be anywhere from 5-20%. Cash advances do not have an APR rate in most cases since many terms are 1 year or less. Instead they have an upfront, one time interest premium added to the cost of the payback amounts, an example of which would be anywhere from 10-40%. The rates available to a merchant depends entirely on the businesses’ qualifications.
We are always happy to provide examples of the terms and rate we offer our clients but we cannot definitively quote terms and rates for any specific business without the necessary business financial documents.
Main Street Finance Group does not charge any up-front fees, hidden or otherwise. 3rd party lenders may require underwriting or origination fees at the time of closing and these will always be clearly indicated prior to closing.
Main Street Finance Group pledges to always disclose these terms prior to signing and does not use any hidden fees or unfair practices in relation to loan re-payment.
By submitting your financial information via fax or email, you are agreeing to allow Main Street Finance Group and other participating lenders to verify that information and check your credit through Transunion, Experian, Equifax, or other credit bureaus. Please know that this may lower your credit score.
Loan renewals for any offers are usually available upon request, but are not automatic and cannot be made without express consent from the client. Not all clients will be eligible for renewal offers. Renewing loans usually extends the payment terms of an existing loan and increases the total amount you will pay back.
Participating lenders all have their own criteria and policies when it comes to late payments. Some negative results may include filing reports to credit bureaus which can lower the lendee’s credit score. Before you agree to a loan please be sure you understand the implications of late or non-payment. Main Street Finance Group only works with lenders who are in compliance with federal and state regulations in regards to collection or late-payment practices.
You are protected by the Fair Debt Collections Act, which includes limitations on how a lender may collect an unpaid balance including:
– Not contacting you by phone before 8 am or after 9 pm.
– Not harassing you or using abusive language towards you over the phone.
– Not using deception to try to collect money from you.
– Not threatening you with legal action if it is not permitted.
The only way to provide specific loan terms, including APR/interest premiums, renewal, payments, and implications for late or non-payment is to qualify a business. We have provided examples, however they can be higher or lower depending qualification criteria such as business revenue and credit worthiness.
Merchant Cash Advance factor rate ranges from 1.10 to 1.40
Line of Credit from 5-11%
Longterm & Collateral Loans from 5-20%
Main Street Finance Group LLC
4485 Stirling Road, Suite 109
Dania, FL 33314