Small Business Alternative Loans – Dallas – Fort Worth – Irving – With banks rejecting over 80% of Small Business Loans – There is an alternative. Elan Capital.
Small Business Alternative Loans – Dallas
For decades, banks were the only source that could provide sufficient loans not only for a startup business, but also for businesses that have been up and running. While this worked for the most part, the biggest disadvantage was that if they refused to give you a loan, there was no second option through which you could acquire the needed finances to help you run your business. However, the good news for business owners is that banks are now not the only lenders available.
And with banks rejecting over 80% of small business loan requests, the market has exploded with options for small business owners to find the funds they need to fulfill their strategic goals.
Even better, your credit history, and more importantly, the credit history of your company, has very little effect on the process and approval of the loan (whereas that was the banks most important factor) . Instead, what the lender is more interested in- is the fact that how much you are going to earn and how soon your receivables would turn. Moreover, they are interested in the customer base of your business and the structure of your business.
All good news right?
The problem is actually trying to TALK to them.
Just try to find a phone number for any alternative lender.
Additionally, an alternative lender is exactly that. A lender. as is ONE lender.
Small Business Alternative Loans – Dallas – Elan Capital
With offices in Dallas, Houston, El Paso, Austin, San Antonio and Lubbock, we will be more than happy to sit down, share a couple cups of coffee, and discuss your specific needs.
Elan Capital Inc brings together the personal service that banks were once known for, with the speed and accuracy of the new FinTech (online) marketplace where, unfortunately, you never actually get to talk to anyone.
Additionally, we are now working with dozens of lenders in the U.S,, Canada and the U.K. who can provide business loans to both established and new small businesses in order to get you the best interest rate available.
Elan offers a full slate of business loan services here in Dallas Texas including;
- Working Capital Loans: Working-capital loans are designed as short-term solutions for businesses in need of money to help run their operation. Working-capital loans are available from most alternative lenders. The advantage of a working-capital loan is that it gives small businesses the ability to keep their operations running while they search for other ways to increase their revenue. Some downsides of a working-capital loan are that they often come with higher interest rates and may have shortened repayment terms.
- Equipment Loans: Many of the alternative lenders Elan utilizes, offer their own types of equipment loans and leases. Equipment loans and leases provide money to small businesses for office equipment, such as copy machines and computers, or things such as machinery, tools and vehicles. Instead of paying for the large purchases all at once up front, equipment loans allow business owners to make monthly payments on the items. One benefit of equipment loans is that they are often easier to obtain than some other types of loans because the equipment being purchased or leased serves as collateral. Equipment loans preserve cash flow since they don’t require a large down payment and may offer some beneficial tax write-offs.
- Merchant Cash Advance: This is a common type of loan made to businesses based on the volume of its monthly credit/debit card transactions. Businesses can typically receive an advance on their monthly transaction volume, sometimes even more. The terms for repaying a merchant cash advance vary by lender. Some alternative lenders take a fixed amount of money out of a business’s merchant account every day, while others take a percentage of the daily credit card sales. The best candidates for merchant cash advances are businesses with strong credit/debit card sales, such as retailers, restaurants and service type businesses. The advantages of merchant cash advances are that they are relatively easy to obtain, funding can be received in as quickly as a few days, and the loan is paid back directly from credit card sales.
- Business Lines of Credit: Much like working-capital loans, lines of credit provide small businesses money for their day-to-day cash-flow needs. These are not recommended for larger purchases (such as vehicles and machinery), and are available for as short as 90 days to as long as several years. With a line of credit, you take only what you need and pay interest only on what you use, rather than the entire amount. These loans are usually unsecured and don’t require any collateral. They also have longer repayment terms and give you the ability to build up your credit rating if you make the interest payments on time.
- Professional Practice Loans: Professional practice loans are designed specifically for providers of professional services, such as businesses in the insurance, health care, accounting, legal, engineering, architecture and veterinary fields. These types of loans are typically used for buying real estate, purchasing an existing practice, renovating office space, buying new equipment and refinancing prior debt.
- Franchise and Business Startup Loans: Franchise startup loans are designed for entrepreneurs who need financing to help open their own franchise business. These loans, can be used for working capital, or to pay franchise fees, buy equipment and build restaurants and stores. Elan has New Business Startup Loans and funding here in Austin.
Small Business Alternative Loans – Dallas – Elan Capital Inc.
Elan Capital Inc, has many subsets of small business loans in Austin TX including;
- INVENTORY LOANS
- UNSECURED BORROWING
- FACTORING RECEIVABLES
- WAREHOUSE FINANCING
- ACCOUNTS RECEIVABLE LOANS
- AGRICULTURAL LOANS
- FLOORING LINES
- MACHINERY LOANS
- INSURANCE AGENCY LOANS
- MEDICAL PRACTICE LOANS
- WORKING CAPITAL LOANS
- GOVERNMENT GUARANTEED LOANS
- INTERNATIONAL LOANS
- ACQUISITION LOANS
- EQUIPMENT LEASING
- BUSINESS START-UP LOANS
- COMMERCIAL PROPERTY LOANS
- SBA LOANS
- AND MUCH MORE
In addition to having offices throughout Texas, Elan Capital has has direct access to dozens of different alternative financing sources with hundreds of different lending programs covering nearly every industry and need.
Because there is no one size fits all here in Texas. Every business is different, even in the same industry. And because Elan Capital has so many financing sources, we have the right solutions at the right time for virtually any business owner or situation.
In short, we can match you with a lender that is looking for customers just like you.
Small Business Alternative Loans – Dallas – Fort Worth – Irving
Elan Capital, Inc.