When your business needs financing fast, whether to help with temporary cash flow problems, to seize a time-sensitive opportunity, or for another reason, one of your best options is to turn to quick online loans. Same-day loans are easy to apply for – at Capital Dude, we’ve made our process so simple and efficient you can be finished in a few minutes. This type of lending also offers you the chance to grow your business because you can purchase the equipment, inventory, or other assets your business needs right away.
If you’re thinking of applying for an online loan to secure money fast for your business, use these tips to help you increase your chances of qualifying for the amount of funding you want.
Before you can get a same-day loan, you’ll want to find out what the criteria are for qualifying. You’ll usually need to have been in business for at least one or two years. There may also be a minimum threshold for your annual revenue.
If you haven’t started operating as a business yet, you aren’t likely to qualify. Fast online business loans are designed to help businesses meet temporary funding needs, so you’ll want to be able to demonstrate that your business is already making money.
Unlike getting a business loan from a bank, with quick online loans, you won’t need to spend a lot of time putting together paperwork. When you apply with Capital Dude, we’ll need your business’s legal name, information on the legal structure, info about what products or services you offer, and your Employer Identification Number or EIN.
You’ll also need to have a bank account ready for receiving your funds once you qualify for a loan!
Before you apply, decide how much you’ll need. At Capital Dude, we offer up to $750,000 in funding to existing businesses. If you’re unsure about the amount, it’s always helpful to have a conversation with your accountant about what makes the most sense for your business.
While you may be able to qualify for several hundred thousand dollars, it’s better to only apply for what you definitely need to meet the specific goal or goals you’re seeking funding for. There are two reasons for this:
Even if you plan on requiring more funding down the road, you may be better off applying for less now. That way, you can pay off your loan and keep your credit score high in the process, without burdening your business down with debt you don’t need. Then, when you’re ready, Capital Dude is always here to help – you can apply for that next loan when you are ready for it.
If you aren’t sure about what financing option is best for you, reach out for help. Talk to qualified financial professionals, such as your accountant or your financial advisor. Getting a quick online loan with same-day funding can be a fantastic way to help your business grow, but it never hurts to gain expert insight.
You can also contact us – we’re always happy to answer any questions about how our funding process works or any other concerns you may have. We believe, the more you know, the more successful you can be. Reach out today to schedule a call or apply online right now – you could have the funding you need in your bank account in 48 hours or less!
