Business Loan Calculator
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Small Business Loan
Merchant Cash Advance
Merchant cash advance loans let you repay a fixed percentage of daily sales transactions until the loan is paid back to the lender in full. These loans are available for small businesses that accept credit card payments.
Business Line of Credit
Business Lines Of Credit allow you to have access to funds as you need them and only pay interest on what you draw.
SBA 7a, 504 Loans & SBA Marketplace Loans
SBA 7a, 504 Loans are small business loans guaranteed by the SBA and issued by participating lenders, they are generally secured by Real Estate. In contrast, our SBA Marketplace Loans are secured by the business and the personal guarantor.
Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount, it is then paid back each time an invoice comes in.
Business Term Loans
A Business Term Loan is a loan given at a fixed term and rate. We offer small business loans with many different repayment methods.
Revenue Based Business Loans
Revenue based business loans are based on the amount of total monthly sales you make. In some cases this program will help more than a merchant cash advance on credit card sales.
Business Loans for Women
United Capital source celebrates women entrepreneurs with business financing products to fit their needs.
Bad Credit Business Loans
UCS understands that past credit problems aren’t relevant to the current performance of your business. If your business is performing well, chances are we’ve got the right funding program, even if you have less than perfect credit.
Working Capital Loans
When you need working capital to get you through a big project, or for day to day business needs, we’ve got the right working capital program for your business.
UCS offers many types of funding programs for franchises. Many of our clients have multiple locations and use us to renovate and expand.
Some of Our Satisfied Clients
Can I get a business loan with bad personal credit?
At United Capital Source we know that your personal credit score does not tell the whole story. We understand that not all traditional lenders think this way though, so it’s common for people with low personal credit scores to be worried about securing a business loan. Luckily, we have business loans specifically for bad credit so that you can get the money to fund your business needs, as well as help you build your credit back up.
What credit score is needed for a business loan?
There is no defined rule for a minimum required score when it comes to business loans. That being said, every loan application is evaluated individually and there are numerous factors that are taken into consideration when approving or denying a potential borrower. Different loan types will have different requirements, but if you are concerned about a low personal credit score, at United Capital Source, we have loans designed specifically for that.
Does a business loan affect personal credit?
The potential impact a business loan can have on your personal credit is dependant on how the loan is set up. Any time a personal guarantee is required for either a loan or a business credit card, that means your personal credit will be tied in. This can be both a good and a bad thing – it could help you build your personal credit, but if something goes wrong and you default on the loan you, not your business, will be held personally liable. For this reason, many business owners prefer to keep their personal and business finances separate.
Is it hard to get a Bad Credit Business Loan?
Bad credit business loans are not as difficult to secure as you may think. With more and more alternative lenders on the scene, there are more funding options for people with low credit scores than ever before. These options will focus more on your business’s revenues and receivables, not just your credit score. If you are in need of a business loan but have a bad credit score, we still have many options you may easily qualify for.
Do I qualify for a Small Business Loan?
Every small business loan will likely have different qualification requirements. That being said, most lenders will take into account the same general qualifying factors. The three most common factors a lender will look at are personal credit score, annual revenue, and years in business. The higher your credit score, the higher your annual revenue, and the more years in business you have under your belt, the easier it will be to qualify for a small business loan.
What’s needed for a Small Business Loan?
When it’s time to apply for a small business loan, it’s understandable that you will want to be ready to go with all of the necessary information. That being said, each loan type and lender will have a different set of requirements. There are a few things however you can be fairly certain will be required on every application. These are: your personal and business credit scores, your annual revenue, your time in business, your business tax returns, your business bank statements, and what the purpose of this loan will be.
What’s needed to open a business bank account?
Having a business account is an important step for business owners as this will allow you to keep your personal and business funds separate. If you are well organized, opening a business checking, savings, or merchant account can be a smooth process. You should be prepared to supply at least the following: business license, SSN or EIN, personal identification, certificate of assumed name, organizing documents, partnership agreements, and monthly credit card revenue (if you are seeking a merchant account).
Can you start an LLC with bad credit?
Forming an LLC is generally a very straightforward process. It is a common way for small business owners to protect their personal assets, and separate their personal and business finances. If you currently have a low personal credit score, this will not hinder you from forming an LLC. However, even with the LLC, if you do not have a business credit score, you will need to use your personal credit score for opening new business accounts and applying for business loans. Luckily we have numerous options designed specifically for business owners with bad credit.
Do SBA loans require collateral?
SBA loan requirements will vary depending on your needs. Most of these loans will require a personal guarantee and/or collateral. The amount of collateral you will need to put up will vary depending on how strong the rest of your loan application is. If you are required to provide collateral, there are several options for you, including: land, buildings, real estate, machinery, equipment, accounts receivable, savings accounts, stocks, and bonds.
How much down payment is required for an SBA loan?
The down payment requirements for SBA loans will vary depending on the type of loan you are seeking. The most popular SBA loans (the SBA 7(a) and the CDC/504 loans) will require a down payment. Generally speaking, these loan programs need a down payment totaling 10% of the total loan amount. If you are seeking a different type of SBA loan, they do not usually require a down payment.
How do I qualify for a small business grant?
When looking for funding for your small business, you may come across some grants or “free” money (meaning these do not need to be paid back like loans). Each grant program will have a different set of qualifying requirements, but as a general rule of thumb, these grants are only given to specific types of businesses such as start-ups or companies that will serve the greater good of the community. This usually means non-profits, educational institutions, or companies that are providing scientific research or cutting edge technology. If your business falls into these categories, there are likely some grants that would be well worth your time to apply for.