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Small Business Loans

For... Your Small Business Auto Repair Shop Manufacturers Restaurants Contractors Healthcare Veterinary

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Simple Application

Our simple 15 second online application can get you matched with offers in minutes.


No Minimum FICO

Bad credit? No problem! Most of our top financing options have no minimum FICO.


Larger Amounts

Get matched with the best financing options with the highest funding amount.

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Same Day Funding

Our FinTech Speed can get you in and out of Underwriting in just a few hours, and same day funding!

How To Qualify
3 + Months in Business
We fund all businesses, from the most ancient, to those taking their first steps (with 650+ credit) and everything in between.
5,000 Monthly Gross Sales
If your credit score is 650 or higher, there are no required sales minimums — TRAM has the perfect financing option for you!
600 FICO Score
You don’t need squeaky clean credit to qualify for a small business loan—we work with all credit profiles.


Easy 15-second application to get options in just minutes and funding in hours!
What is a small business loan?

Small Business Loans on the market. – Let’s Review…

Term Loan – A standard bank-type loan. You receive the funding and pay off the principal plus interest over time.

Equipment Financing – An excellent way for a growing business to get an edge. You receive the equipment upfront and pay it off over the life of the equipment.

Accounts Receivable Financing – If you have large amounts of outstanding invoices, you can borrow against them. The invoices act as collateral and AR Financing offers lower rates.

Merchant Cash Advance – A merchant cash advance is borrowed against future credit card sales. A borrower then pays back a percentage of daily CC sales to the lender. So, you never have to see the payments!

Business Line of Credit – A business line of credit works just like a non-physical credit card. The owner of a small business is extended a line of credit and is charged the interest only or what is spent.

What Are the Benefits?

Requirements to Apply for Small Business Loans

While specifics may vary slightly, the general small business loan requirements include the same primary elements.

Credit Scores
Since you assume responsibility for the small business loan, your credit score matters and plays a large part in determining the loan amount. Keep in mind that if you have more than one owner, the bank will want to see credit scores for everyone, along with the overall business credit score. Before heading to the bank to apply, it may be in your best interest to check your credit report for any inaccuracies. Also, if you are close to a higher threshold, you may want to take steps to boost your score that little bit.

Business Banking Records
The bank needs to see your business banking records to assess the foundation and assign a rating, which determines how much the business can borrow. Try to abide by the following tips to make sure you are in good standing:

  • It’s ideal to maintain a steady balance with regular deposits to demonstrate consistent revenue and responsible financial management.
  • Avoid overdrawing your account and set up overdraft protection.
  • You may want to ask for a bank reference from your company’s banking institution. It could go a long way in convincing a lender.
  • Of note, most lenders like to see companies in business for at least 6 months, so you may be asked to show time in business as well.

Keep in mind that there are key numbers the bank will look at when determining your rating and loan amount. Lenders like to use a broad approach, so they will want annual gross sales along with monthly numbers for the following:

  • Gross margin
  • Cash flow
  • Debt to equity ratio
  • Accounts payable and accounts receivable
  • Earnings
Monthly Sales Volume or List of Collateral and Assets
Some lenders ask for collateral while others do not. However, most lenders request that you list company assets on the application. They want to know what could cover your obligations in the event you can’t repay the loan. Alternatively, you can provide proof of sufficient deposits into your business bank account that can provide confidence to the lender that loan payments can be met.
Steps to Getting A Small Business Loan
#1 - Completed Application
#2 - Banks Statements
#3 - Equipment Invoice or Quote
#4 - Business Tax Returns
#5 - Personal Tax Returns
#6 - Tax Filings & Credit Score
#7 - Business Licenses and Filings
#8 - Social Security Number or Tax ID
#9 - Balance Sheet
#10 - Profit / Loss Statements
#11 - Equipment List (if securing existing equipment
What Are Average Small Business Loan Rates?
To get the most out of your funding for your business, knowing the ins and outs of various small business loan types and rates is essential.

Loan rates will be dependent upon the type of loan for which you are applying. There is also some variation depending on the amount you need and the specific terms.

The truth is that small business loan rates from alternative lenders can also be higher than traditional bank loans. However, there’s a tradeoff: while some business owners may not qualify for financing through a traditional lender, an alternative lender can fill that gap.

The average small business loan interest rate can range somewhere between 2 percent and 13 percent. An SBA loan has a bit narrower range; from 3.5 percent to just over 11 percent.

How to Get a Business Loan Without Collateral?

Obtaining a small business loan without collateral requires some due diligence. Here are a few things you can do to increase your chances.

Get Your Credit Score in Shape

If you lack collateral, the only thing you have to offer is your reputation, which is essentially your credit. One way to raise your score is to lower your credit utilization ratio; which is one of the only ways to get a small business loan with bad credit.

Determine Cash Flow Projections

It’s important to know you can repay the debt and how. Otherwise, you will have trouble convincing lenders you will be able to repay your loan.

Once you have everything you need to qualify for a small business loan, go find the lending option that secures your financial future. There are many lending options ready to put you on the right track.