Business Line of Credit

What is a business line of credit?

A business line of credit is a financial safety net for your business. It’s also one of the most flexible forms of financing. You can use it for buying equipment, hiring staff, increasing inventory, adding a second location, paying invoices, installing a cappuccino machine, and more.

And because a line of credit is revolving, you can use it as many times as you want. As soon as you repay what you’ve used, those funds become available to you again.

How to qualify and apply for a business line of credit.

To get your business line of credit, you’ll typically need to be in business at least 6 months and have $50,000 or more in annual revenue. You’ll also need a credit score of 560 or higher.

Your lender may ask you to make a personal guarantee, which is an agreement that the lender may be able to levy personal assets such as a car, house, or bank account if you default on the line of credit.

Applying is easy: simply fill out our 15-minute application, then compare business line of credit options from a diverse group of investors.

Only pay interest on the funds you use, not the whole thing.

One of the coolest things about a business line of credit is that you only pay interest on the funds you use, not the full amount. For example, if you’re approved for a $40,000 business line of credit and you use $20,000 for office upgrades, you’ll just pay interest on that $20,000. This could save you a bundle in interest.

SBA Loan

Seriously. You can find an SBA loan option to cover just about every nook and cranny of your small business. Some of the most common SBA loans are the 7(a), 504, and SBA Express.

SBA 7(a) Loan

The 7(a) is one of the most flexible SBA loans. You can use it to:

• Buy land
• Cover construction costs
• Buy or expand an existing business
• Refinance your existing debt
• Buy machinery, furniture, supplies, or materials

SBA 7(a) Loan Amounts

SBA 7(a) loans of less than $25,000 may not require collateral but higher loan amounts likely will. For loans of $350,000 or higher, the SBA requires your lender to ask for the maximum possible amount of collateral to limit risk of default. If you don’t have enough business collateral to cover it, that’s okay – many forms of personal collateral will also help you qualify.

If you’re looking for a large amount of money, you can get a 7(a) loan for up to $5 million if you meet all the qualification requirements.

SBA 504 Loan

504 loans can be a bit more complicated than 7(a)s. Because you would use a 504 to fund a project, a thorough examination of your project costs will come into play. When your loan is funded, the lender will initially cover 50% of your costs and the SBA will cover 40% – that means you’re responsible for covering at least 10% right off the bat. You’ll also be required to personally guarantee at least 20% of the loan.

You must use your SBA 504 loan to finance fixed assets, although some soft costs can also be included. Examples of qualifying projects are:

• Buy an existing building
• Build a new facility or renovate an existing facility
• Buy land or make land improvements such as grading, landscaping, and adding parking lots
• Buy long-term machinery
• Refinance debt incurred through the expansion of your business or renovation of your facilities or equipment

There are some cool perks to the SBA 504 loan. For example, you’ll benefit from 90% financing, longer amortizations, no balloon payments, and fixed interest rates.

To qualify for an SBA 504 loan, your business must have a tangible net worth of more than $15 million and an average net income of $5 million or less for the two years prior to your application.

SBA Express Loan

If you need cash in a jiffy, the SBA Express is the loan for you. Unlike the somewhat slower review processes you might encounter with other SBA loans, SBA Express applications are reviewed within 36 hours. This doesn’t mean that you’ll get access to funds that fast though – it often still takes at least 30 days to get your SBA Express loan funded.

SBA Express Loan Amounts

You can finance up to $350,000 with an SBA Express. If your loan amount is more than $25,000, your lender may require you to secure your loan with collateral. The loan can be used as working capital (5-10 year term) or a line of credit (7-year term), or as a commercial real estate loan (25-year term).

Short Term Loan

It’s not just fast – it’s also flexible.

A short term loan is like the Swiss Army Knife of loans – it’s handy, flexible, and able to get you out of a bind. You can use it to cover unexpected costs, survive a slump, finance a short term project, or even capitalize on a new business opportunity. It’s definitely the loan you want in your back pocket.

Professional Debt Collection Services

Ibis Funding Group offers professional debt collection services. Our team is focused on providing strong financial performance while offering the best possible experience for consumers. Through our proven combination of people and technology, we achieve a balance of performance and compliance that delivers best-in-class service for our creditor clients.

Our success stems from investing in the development of our people. Compliant debt collection is an art and our employee development programs are designed to help our team build core skill sets including industry knowledge, system expertise, and relationship management. We understand that by giving our team the tools and knowledge they need to feel empowered, we build stronger consumer relationships and increase consumer satisfaction.

Collections

Our collections services are targeted to produce results on a faster pace than that which is typically yielded by traditional collections efforts and litigation:

• Forensic due diligence, which enables us to trace and identify assets to target.
• Modified techniques for levying and freezing accounts, resulting in faster settlements and payments.
• Using legal methods to reroute merchants’ accounts-receivables and accounts-payable to our clients, enabling quicker recovery.
• Aggressive litigation strategies targeted to freeze assets and accounts on a much quicker pace than traditional litigation.
• Traditional litigation, proceeding to obtaining judgments, and judgment enforcement.

Compliance and training

Compliance is a major focus of our company and we invest in our training, testing ,and continuing education programs. We continually strive to stay on the cutting edge of the receivables management industry as members of ACA International. Our experienced executive management team is active in the receivables management marketplace and implements industry best practices to keep us focused on compliance.

Consumer financial resources

Financialliteracy.rocks

This consumer financial literacy resource provided by Receivables Management Association International RMAI offers a great mix of tools and education links to assist with financial education and planning. Learn about saving and budgeting, credit scores, and much more through interactive modules.

Know My Debt

Dealing with debt and credit issues can be an emotional journey for consumers and their families. Knowmydebt.com is a free online resource is offered by ACA International to help develop a better understanding of debt and debt collection. Consumers can learn about their rights, their debts, and planning for their financial future.

MyMoney.gov

This resource provided by the federal Financial Literacy & Education Commission offers great information for consumers about the basics of money, credit, borrowing, investing and more. The MyMoney Five program offers great foundational information about money for consumers of all ages.

Complaint Resolution

We take consumer feedback seriously and want to know about your experience while working with our team. We invite you to contact our compliance team to tell us about your experience. Your feedback helps us to provide the most relevant training to our staff and ensure that we maintain our high standards of service. To share your feedback, please contact:

Management Team
347-525-5309
[email protected]

Business Term Financing

What is a Term Loan?

A term loan provides a borrower with a lump sum up front that is then repaid at regular intervals over a set amount of time, also referred to as the loan term. Interest rates on term loans can be fixed or floating and can start as low as 6%.

Accounts/Receivable Financing

Use accounts receivable financing to get capital

If you need quick access to working capital, accounts receivable financing is an ideal solution.

In addition to the low factor rates, opting for accounts receivable financing saves you all the time you would’ve spent trying to collect on those outstanding debts yourself.

You can qualify even if you don’t have amazing credit. (Phew.)

Here’s what makes accounts receivable financing unique: your credit rating isn’t very relevant. Why not? Because the factoring company will be more focused on the credit of the company that owes you money, as it’s the crucial factor that determines how likely the factoring company is to get paid once ownership of the invoice has been transferred.

This underscores how important it is for you to work with legitimate, creditworthy folks. Play with fire and you might get burned. Reliable clients, on the other hand, will pay you faster and more consistently. And if you ever find yourself in a situation where you need to use accounts receivable financing (like right now), their financial health will provide you with better financing options.

You can apply for accounts receivable financing in a matter of minutes. Simply fill out our application, then compare options from a diverse group of investors.

No collateral? No problem.

Another cool fact about accounts receivable financing is that it doesn’t require any collateral. This means that you’ll never need to put your beloved ‘69 Firebird on the line in order to get the small business capital you need.

Business Acquisition Financing

The benefits of a business acquisition loan

If you’re looking for a loan to buy a business, this one is tailor-made for you. A business acquisition loan helps you zero-in on the benefits of purchasing an existing business or franchise rather than going the startup route—all with terms and rates specifically designed to meet your needs.

Why should you buy a business?

The startup phase of any business can be pretty backbreaking. Skipping to the “established business” phase can save you a headache and give you a leg up in small business. Buying an existing business or franchise enables you to hit the ground running and leverage existing resources to accelerate your growth—which often means you can go further, faster.

How much money can you borrow to buy a business?

Business acquisition loan amounts range from $5,000 all the way up to $5,000,000.

How to get a loan to buy a business

For most small business loans, a lender will review factors like your credit history, time in business, and revenue to determine if you qualify. If you’re buying a business or franchise, your lender will look at slightly different criteria to ensure that you’re investing in a viable business, and in turn, will be able to repay the loan.

Be prepared for these specific application requirements for a business acquisition loan.

• Records of the business’s financial performance and valuation
• Business plan
• Financial projections
• Any related experience that will help you successfully manage and grow the business

How do you apply for a loan to purchase a business?

Our 15-minute online application gives you access to Lendio’s network of a diverse group of investors. That averages out to 12 seconds spent applying to each lender, making it ideal for a time-saving genius like you.

If you don’t have all your paperwork ready, don’t worry. You can start exploring business acquisition loans today and your funding manager will help you fill in any gaps.

Keep costs down with a low interest rate

As if a business acquisition loan didn’t make buying a business easy enough, the rates can make the deal even sweeter. If you meet the qualifications, you can receive an interest rate as low as 5.5%, which means you’ll save a bundle of cash over the lifetime of your loan.

Working Capital Loans

A working capital loan is a loan that is taken to finance a company's everyday operations. These loans are not used to buy long-term assets or investments and are, instead, used to provide the working capital that covers a company's short-term operational needs.

Those needs can include costs such as payroll, rent, and debt payments. In this way, working capital loans are simply corporate debt borrowings that are used by a company to finance its daily operations.

How a Working Capital Loan Can Work for You

Every business should have cash on hand to cover both planned and unexpected expenses. Cash reserves help cover the everyday fluctuations faced by your business. For those who don’t have the cash flow for everyday expenses, or have a predictable revenue stream, we offer working capital loans as a lifeline to give you access to cash when you need it most.

• Hire More Staff
• Finance Equipment
• Add Inventory
• Manage Cash Flow

What are the Benefits of Working Capital Loans?

A working capital loan is the quickest and easiest way for small businesses to receive the lines of funding they need to achieve their full business potential. When businesses don’t have the funding for current expenses, a working capital loan can help make up the financial shortcomings until the business is stable. These funds can go towards whichever expenses need immediate attention to help you grow your business.

Be prepared

Be Better Prepared for the Future with More Capital

While the saying may be ‘business isn’t personal,’ we know small business owners take pride in their companies, and that business truly is personal.

Businesses that are prepared for current financial payments are better prepared for the future growth of their business. For businesses to see long-term success, business owners need to make sure they have the cash flow to keep their business afloat. Without this preparation, businesses will run into late payments, decreased credit scores, and higher interest rates on business loans and future credit lines. By applying for a working capital loan, it will help you with a shortage of short-term financial resources when your business needs it most. Small business capital could make all the difference in the success of your company, and we want to help.

Maintain Ownership

Maintain Ownership of Your Business

Traditional equity investors likely require you to give up a percentage of your business in return for funding, which gives some of the ownership power to the investor. With a working capital loan from a bank or a financial institution like Ibis Funding Group, you continue to hold ownership over your business and are only required to make the payments that are agreed upon — all with new, working capital.

No collateral

Working Capital Loans With No Collateral Required

Some small business working capital loans require collateral of some sort, but we provide working capital without collateral. Business owners can maintain ownership of their assets while taking out a working capital loan, even when funding needs are imperative. When applying for a working capital loan, we look at the current status of your business which helps us determine the loan amount that suits your business.

Provides flexibility

Provides Financial Flexibility

A working capital loan can be used how you personally see fit for your business, no strings attached. Working capital loans can be used for paying employees, purchasing equipment, paying bills, and more. No matter the financial needs, receiving a working capital loans for your company allows financial flexibility to help you with your business needs.