Collateral Business Financing
Secured Funding With Business Collateral
Secured business financing backed by collateral might present more favorable rates compared to various alternative funding options. Entrepreneurs of small businesses could potentially qualify for larger funding amounts compared to unsecured financing or lines of credit.
8 Minute
Application Process
A+ Rating
With the Better Business Bureau
$5.4 Billion
Funded To U.S Based Businesses
What is a Collateral Business Financing?
A secured business financing with collateral involves using commercial real estate as a safeguard, minimizing the lender’s risk and consequently reducing financing costs. This secured approach often allows small business owners to qualify for more substantial funding compared to revenue-based financing lacking this security.
Prime Source Solution provides collateral business financing ranging from $50,000 to $250,000, offering flexibility in fund utilization. Financing terms hinge on factors like collateral value, its type, business cash flow, and the owner’s personal credit, background, and repayment history. It’s crucial to note that Prime Source Solution prioritizes the protection of primary residences and accepts only developed properties not serving as the owner’s main residence as collateral.
Collateral Business financing Rates
Many forms of alternative business funding utilize a factor rate rather than a conventional interest rate. Factor rates are straightforward decimal figures indicating the additional amount owed on the initial financing. Your specific factor rate is determined by assessing your risk profile. Typically ranging between 1.1 and 1.5, factor rates provide a clear understanding of the additional cost associated with the borrowed amount.
Who should apply for F Collateral Business Financing?
Collateral business financing are well-suited for:
- 1. Businesses in need of cost-effective capital for a brief duration. .
- 2. Businesses exploring a larger or extended funding solution compared to a merchant cash advance or other small business financing
- 3. Businesses intending to make significant purchases, such as acquiring new equipment or expanding their inventory.
- 4. Businesses planning strategic moves, such as expansions, mergers, or acquisitions.
Collateral business financing extend their advantages to various sectors, including medical practices, construction companies, manufacturers, automotive businesses, business services, and more. Irrespective of your industry, our seasoned Funding Advisors will collaborate closely with you to identify the optimal funding option that aligns with your business objectives without compromising your cash flow.
How to use Collateral Business Financing
Businesses with lower credit scores have the flexibility to utilize their funding without stringent restrictions. Alternative financing options for businesses with less-than-perfect credit are particularly beneficial for supporting growth initiatives aimed at boosting your business’s revenue. These initiatives may include:
1. Hiring additional staff to expand services and handle increased business demands.
2. Acquiring new equipment or adopting cutting-edge technology.
3. Undertaking renovations or remodeling projects to create a more appealing and comfortable environment.
4. Business expansion or the acquisition of another business to broaden your market reach.
5. Developing a new website or enhancing your online presence for greater visibility.
6. Purchasing raw materials or inventory in larger quantities to benefit from cost savings.
7. Investing in ongoing education and training for yourself or your team.
8. Revitalizing marketing and advertising efforts to attract more business opportunities.
The possibilities are endless, and our funding solutions empower businesses to pursue strategic initiatives for sustained growth.
Occasionally, businesses find themselves in need of a rapid boost in working capital to address the specific challenges within their industry, including:
- Staying abreast of evolving industry trends.
- Adapting to shifts in client and customer requirements.
- Distinguishing your business in a competitive niche.
- Covering the substantial expenses related to equipment, supplies, or raw materials.
- Addressing shortages in skilled labor and combatting employee turnover.
- Managing the high costs associated with repairing appliances or equipment.
Our financing solutions are designed to provide the agility needed for businesses to navigate these industry-specific challenges effectively.
Applying for Collateral Business Financing is Easy
Step 1: Submit Your Application
Rest assured that your information is securely protected, and we only require essential details about your business along with the latest three months’ bank statements.
Step 2 Obtain a decision
Your assigned finance advisor will carefully assess various small business financing options with you to identify the one that aligns best with your specific requirements.
Step 3 Access Your Funds
Upon completing the online checkout process, you can expect to receive your funds as quickly as the same day, ensuring swift access to the capital you need.†
Minimum Requirements for Qualification
Prime Source Solutions sets more accessible requirements for collateral business financing compared to traditional lenders and other alternatives. We understand that credit scores are only part of the picture, emphasizing the overall health of your business and collateral. Our considerations include:
- Type of Collateral: We refrain from using primary residences as collateral.
- Value of Collateral: Determined through recent property appraisals, county tax bills, and real estate schedules.
- Business Revenue: An essential factor in assessing your financial standing.
- Cash Flow: An indicator of your business’s financial liquidity.
- Vendor Payment History: Reflects your business’s financial responsibilities.
- Years in Business: Demonstrates your business’s stability.
- Public Records: Considered for a comprehensive evaluation.
6 Months +
In Business
625
Credit Score
$100k
Businesses Annual Revenue
Business
Bank Account
Business Collateral Financing FAQ
Prime Source Solution
Phone: 646-206-9605
Email: info@primesourcesolution.com