Some FAQs and Answers about Alternative Business Loans

Some FAQs and Answers about Alternative Business LoansQ. What types of loan programs are considered as alternative business lending?

A. The most common type of alternative business lending is a micro business loan, finance amounts are $100,000 or less, with amortization schedules of 12 months or less. The alternative business line of credit is renewable three months prior to the maturity date, at no additional costs for renewing the term. Furthermore, a factoring loan, purchase order financing and a collateralized unconventional small business loan are considered as alternative business lending.

Q.  Is alternative business lending for bad credit applicants?

A. No, in fact most alternative business lending applicants have decent credit scores

Q. What if I have bruised credit but my receivables and bank deposits are healthy?

A. Even though alternative business lending is available, a foreclosure within the past 12-18 months on your credit will restrict your loan approval. Check your credit by ordering a three merge credit report at Equifax.com; you will not be penalized for a credit inquiry because you are ordering your three merge credit report directly from the credit bureau.

Q. Are there any upfront fees for alternative business lending?

A. No, our consultations are free and our commissions are paid at funding, that is only if you close your new alternative business line of credit.

Q. How long does the process take?

A. As soon as we obtain all of your required documents, the process takes less than seven business days

Q. What types of businesses request alternative business lending?

A. Our alternative business lending requests come from restaurant owners, doctors, recreational, retail stores, salons and more.

For more information on how we can help you obtain alternative small business lending in Naples FL and Fort Myers FL please fill out the online contact form about your concerns or give us a call at 855.885.5199. Read what our valued clients have to say about First Pro Capital and Credit Consulting Professionals on our Testimonials page.

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