Business Loans for Marketing
A Message from Anthony Kirlew, CEO of AKA Internet Marketing…
I’ve been an entrepreneur for most of my life and one thing I know for sure is that without customers a business will not survive.
The question many business owners struggle with is “how can I get more good paying customers?” As a professional marketer who has helped countless businesses find new customers since 1999, I can tell you that targeting your ideal customer through (online) marketing is a great way to get new paying customers.
One thing that often holds companies back from marketing is not having a marketing budget. Because I saw this as a common theme with many businesses – and with a background a finance – I set out to create a solution and I made it happen! We now help businesses just like your obtain business loans for marketing.
I have aligned with two lending companies that help small businesses get funding that can be used for business needs including marketing. I would be happy to have a chat with you and learn about your marketing and financing needs to see if I am able to help you through one of these resources.
Before I give you the link to register for a FREE Consultation with me, I want to share with you the two types of loans we can now help small business owners & entrepreneurs obtain.
1. Non Bank Small Business Loans. These are the most common small business loans that business owners are able to qualify for in the shortest amount of time. The funds can be used for marketing or any other business need, I just highly recommend that if you are not using the funds for marketing and growing your business, that you have a solid growth plan for your business. One of the worst feelings in the world is borrowing money and not being able to pay it back. Trust me, I have been there.
Here are the basic requirements for these loans:
• Minimum $10,000 per month in business income (or $100,000 over the past year)
• Minimum 4 deposits per month into your business bank account
• Minimum 500 FICO (credit) score
• A business bank account
• Less than 3 NSF’s or days below zero balance (per month)
• Minimum of 4 months in business
• Not on the restricted business list (Includes financial, travel, pawn, gun, and adult related businesses as well as a few others. We can discuss when on the phone to make sure your business is not on the list.)
• Must be at least 50% owner of the business.
• These loans are between $10,000 and $500,000 depending on business income and personal / business credit.
• Decisions within 3 days of receiving loan application
• Funding as quick as one week
• 6 – 18 months term (daily payback on banking days only = no large monthly payments)
• Minimal paperwork required (bank statements, tax returns, etc.)
The loans are essentially made on the strength of the cash flow of the business, rather than the owners credit history.
2. SBA Loans. These are loans for small business owners that have higher credit scores and therefore they get the best interest rates. I found my SBA lending resource after being turned down for an SBA loan and continuing my research. I was able to get a $50,000 SBA loan in a much shorter time than it took the first bank to turn me down. I now work with this lender exclusively as an SBA lender for my clients.
Here are the basic requirements for an SBA loan:
• Minimum 2 Years in Business
• Business Must Be a For Profit Business
• Owners with Greater Than 20% Equity Cannot Have Criminal Background
• Owners with Greater Than 20% Equity Must Be US Citizens or Permanent Residents
• Must Have Minimum FICO (Credit) Score of 600 (675 for loans > $150k)
• No Bankruptcy in the Past 3 Years
• No Foreclosure in the Past 3 Years
• No Current Tax Liens (Making Payments on Tax Liabilities Does Not Exclude You)
• Preapprovals within 24 hours
• Funding is possible within as fast as one week assuming all goes well (mine took about 6 weeks to fund.)
• 10 year term
• Requires lots of paperwork (your accountant and your insurance agent will be a huge asset here)
SBA Loan amounts range from $30,000 to $350,000 and the amount depends upon need as well as personal / business credit and business income.
For all loans, the business and business owner must be based in the US.
Even if you don’t meet the qualifications, let’s have a chat.
If you have any questions about your marketing plan or small business financing, please set up a complementary consultation with me by using this link: http://www.AnthonyKirlew.com/call