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Advance Smart business loan and advance options

sba loans commercial loans bank loans line of credit merchant cash advance invoice factoring hard money loan secured loan unsecured loan

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SBA Loans and Hard Money Loans

  • Loan amount is case by case and depends on the request
  • Up to 75% LTV (Loan to value of collateral)
  • Programs range from 1 year to 25 years
  • Cost for a SBA loan is between 3.99% and 4.36% annually
  • Cost for a hard money loan is between 4.65% and 12% annually
  • Payments made monthly by check
  • No open bankruptcies and no tax liens
  • Minimum $25,000 gross monthly volume is required
  • Minimum 3 years in business required
  • Interest can be written off in business taxes using a 1099-INT form
  • Minimum 640 FICO to apply with 3 years of tax returns personal and business with YTD financials

Secured Loans and Unsecured Loans

  • Receive up to 25% of your annual sales or 75% of monthly sales, 35% to 50% for poor credit
  • Unsecured loans range from 3 months to 24 months, secured loans range from 2 to 4 years
  • Unsecured loan cost factors are between 1.12 and 1.45, secured APR is from 8.99% to 12.49% annually
  • Fixed payment is an ACH Monday - Friday, weekly, bi-weekly and monthly payments are available
  • Bankruptcies must be discharged one year with paperwork and tax liens in a payment plan
  • Minimum $10,000 gross monthly volume required
  • Merchant must net at least 50% of the loan after the payoff of a current balance
  • Minimum 3 months in business required
  • No more than 3 negative days and 6 NSF's in the bank monthly
  • Interest can be written off in business taxes using a 1099-INT form
  • Minimum unsecured loan FICO is 480, secured loan is 620 to apply with 6 months of bank statements

Line of credit

  • Receive up to 11% of annual gross sales
  • Programs range from 6 months to 18 months
  • Cost factor is between 1.20 and 1.35
  • 30 day payment deferment and 120 day closing delay available
  • Use up to 20 drafts per year (Merchant receives leather draft book)
  • Bankruptcies must be discharged one year with paperwork and tax liens in a payment plan
  • Minimum $10,000 gross monthly volume required
  • Merchant must net at least 70% of a current balance
  • Minimum 3 years in business required
  • Interest can be written off in business taxes using a 1099-INT form
  • Minimum 600 FICO to apply with 4 months processing and 4 months of bank statements

Merchant Cash Advances

  • Receive up to 200% of monthly credit card processing, 50-100 % for poor credit
  • Programs range from 3 months to 15 months
  • Cost factor is between 1.20 and 1.45 (1.06 for over 150K monthly processing)
  • No more than 12% of monthly gross sales can be debited
  • Can be a split batch, lockbox or ACH
  • Bankruptcies must be discharged one year with paperwork and tax liens in a payment plan
  • 10 batches monthly and minimum $3,000 in monthly processing required
  • Merchant must net at least 50% of a current balance
  • This doesn't build business or personal credit
  • Minimum 3 months in business and processing credit cards
  • Minimum 500 FICO to apply with 4 months processing and 4 months of bank statements

Bridge Loans

  • Loan amount is case by case and depends on the request
  • Receive up to 25% of your SBA commitment or 50% LTV (Loan to value of collateral)
  • Programs range from 3 months to 12 years
  • Cost for a bridge loan is between 6% and 8% annually
  • Payments made monthly by check
  • No open bankruptcies and no tax liens
  • Minimum $25,000 gross monthly volume is required
  • Minimum 2 years in business required
  • Interest can be written off in business taxes using a 1099-INT form.
  • Minimum 620 FICO to apply with a signed application and your SBA commitment letter

Invoice Factoring

  • Receive up to 90% of approved invoices up front, remaining 10% funded upon receipt of payment
  • Programs range from 3 months to unlimited
  • Cost is between 1% to 1.6% per 30 days
  • Any current second position UCC loans and advances must be paid off
  • Invoiced customer must agree to pay the factoring lender direct
  • No credit check for customers or merchants
  • You choose the invoices to factor. Others require all invoices to be factored
  • Apply with an accounts receivable summary, inventory aging summary and a list of current debt

Equipment Leasing

  • Loan amount is 100% of the purchase price of the equipment being leased
  • Programs range from 2 to 4 years
  • Cost for equipment leasing is 1.89% per month
  • Payments made monthly by check
  • Bankruptcies and tax liens are handled case by case
  • Minimum $25,000.00 lease is required
  • There is a $1.00 buyout option for every lease
  • Minimum 600 FICO to apply with an application and full equipment specifications and photos

We also provide many credit card processing options at the lowest rates.

  • Pass through rates available
  • No application or setup fees
  • Approvals within 24 hours
  • Split batching for merchant cash advances
  • Free processing fee review and comparison within 1 hour
  • Next day deposits available with a $50.00 or less average ticket and batch by 7:00pm EST.
  • Free credit card terminal to be returned upon termination available
  • We cover $295.00 of the competitor's early termination fee
  • Personalized gift cards available
  • High speed ethernet and wireless terminals available
  • PC gateways, shopping carts and smart phone card readers available
  • Apply with an application, driver's license and voided business check

What if I have questions?
Just call 855.249.7627 to speak to an Advance Smart customer service representative 24 hours a day/7 days a week. Every business owner is assigned a free personal funding advisor.

How do I get started?
To get started simply Apply For Funding and a funding specialist will get in touch with you shortly. You can also choose to call us toll-free at 855.249.7627.

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2264 Silas Deane Highway 2nd Floor
Rocky Hill, CT. 06067

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