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No Credit Check – Only takes a minute or two.

Business Loan Quote Request

How is your business organized? *

Limited Liability Company LLC

Sole Proprietor

Partnership

C Corp

S Corp

State * AlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWest VirginiaWisconsinWyoming

Gross Monthly Revenue * $10,000 – $25,000$25,000 – $50,000$50,000 – $75,000$75,000 – $100,000$100,000 – $150,000$150,000 – $200,000$200,000 – $250,000$250,000+

Your business must generate at least $10,000 per month before expenses and taxes.

Do you have a Business Bank Account? *

Yes

No

A business bank account that shows the monthly revenue you listed will be required.

A BUSINESS BANK ACCOUNT IS REQUIRED

How to Qualify for a Business Loan on LendersCompete.com

Years in business *

3

You must be in business more than 1 year.

Business Name *

Business Type * Select Your Business TypeAccounting and Financial ServicesAgricultural Business/FarmingAgriculture support servicesApparel or Fashion Store (Retail)Art Gallery or Craft Store (Retail)Auto parts and accessory retailAutomotive Sales or Repair ShopBeauty Salon or SpaBookstore (Retail)Brewery or WineryBusiness support servicesChemicals and textiles manufacturingChildcare or Daycare ServicesCivic, political, and professional organizationsCleaning ServicesClothing & accessories retailComputer servicesConstruction FirmConsulting ServicesDry cleaning and laundryE-commerce and mail order retailEducational Institution or Training CenterElectronics Store (Retail)Environmental ServicesEvent Planning and ManagementFarming – crops, livestock, poultry, dairyFishing and aquacultureFitness Center or GymFitness, recreational sports, and social clubsFlorist (Retail)Food and beverage retail – grocery, liquor, markets, convenience storesFood manufacturing – bakeries, candy, milk, beer, etcForestry and loggingFurniture and fixtures manufacturingFurniture Store (Retail)Gasoline stationsGeneral contractors – residential and commercial buildingGeneral merchandise storesGift Shop (Retail)Graphic Design and Creative ServicesHealth and personal product retail – drug stores, cosmeticsHealth Care Clinic or Medical PracticeHeavy construction – roads, bridges, water/sewerHobby and Craft Store (Retail)Home and garden retail – hardware, nurseries, home centersHome Improvement and RenovationHospitality and Lodging (e.g., hotels, motels)Hotels, motels, and innsHunting, trapping, game propagationImport/Export BusinessIT Services and Software DevelopmentJewelry Store (Retail)Legal PracticeMachinery manufacturing – industrial, HVAC, engines, etcManufacturing CompanyMarketing and Advertising AgencyMetal fabrication – cutlery, structural metal, screws, etcMiscellaneous niche manufacturing – toys, jewelry, musical instruments, etcMusic Store or Studio (Retail)Non-Profit OrganizationOnline E-commerce BusinessPaper and printing – books, forms, newspapersPersonal servicesPet Services and Supplies (Retail)Photography or Videography BusinessPlumbing or Electrical ServicesProfessional services – lawyers, accountants, architects, engineersPublishing or Media CompanyReal Estate AgencyReligious and social advocacy organizationsRepair and maintenanceRestaurant/CaféRestaurants, bars, caterersScientific research and development servicesSpecial trade contractors – electrical, plumbing, excavation, carpentrySpecialty Food Store or Bakery (Retail)Sporting Goods Store (Retail)Textiles and apparel manufacturingTobacconist or Vape Shop (Retail)Toy Store (Retail)Transportation and LogisticsTravel AgencyWholesale DistributorOther Business Type

How much do you want to borrow? * $10,000 – $25,000$25,000 – $35,000$35,000 – $50,000$50,000 – $75,000$75,000 – $100,000$100,000 – $150,000$150,000 – $200,000$200,000 – $250,000$250,000 – $300,000$300,000 – $500,000$500,000 – $1,000,000$1,000,000+

Minimum $10,000

Loan Purpose *

Working Capital

Equipment Purchase

Inventory Purchase

Debt Refinancing or Consolidation

Business Expansion

OtherOther

Credit Rating *

Excellent 720+

Good 680+

Fair 640+

Poor Less than 640

Your Name *

Your Name

First

First

Last

Last

Phone *

+1

By providing your phone number, you give us permission to contact you via call or text manually or using automation.

Email *

We promise not to share your email with any third party without your express consent.

Submit

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How to Qualify for a Business Loan on LendersCompete.com

Navigating the path to securing a business loan can seem daunting, especially for new entrepreneurs or small businesses just finding their footing. However, platforms like LendersCompete.com are designed to simplify this process, connecting businesses with a range of lenders ready to compete for their loan application.

Qualifying for a business loan through LendersCompete.com involves understanding the criteria lenders look for and preparing your application accordingly. Here’s a guide to help you qualify for a business loan on LendersCompete.com.

Understand the Requirements

The first step to qualifying for a business loan is to understand the basic requirements. Most lenders on LendersCompete.com look for businesses with a solid financial foundation, a clear business plan, and a reliable revenue stream. Specifically, having a business bank account and generating a monthly revenue of at least $5,000 can significantly increase your chances of qualification.

Build a Strong Business Credit Score

Your business credit score plays a crucial role in loan approval. It reflects your business’s financial health and repayment ability. Start by establishing business credit through a business credit card or small loans and ensure timely payments. Regularly check your credit report for errors and work on improving your score before applying.

Prepare a Detailed Business Plan

A well-prepared business plan showcases your business’s potential and how you intend to use the loan for growth. Include details about your business model, market analysis, financial projections, and specific strategies for revenue growth. A strong business plan not only impresses lenders but also gives them confidence in your ability to repay the loan.

Organize Financial Documentation

Lenders will require comprehensive financial documentation to assess your application. Prepare your business financial statements, tax returns, bank statements, and any other relevant financial documents. Clear and organized financial records can expedite the review process and improve your chances of approval.

Seek Advice and Improve if Necessary

If you’re initially unqualified, seek advice from financial advisors or use resources provided by LendersCompete.com to understand how you can improve your qualifications. This may involve increasing your revenue, improving your credit score, or adjusting your business plan.

Leverage Alternative Financing Options

If traditional loans are not currently an option, consider alternative financing such as microloans, crowdfunding, or grants designed for startups and small businesses. These options can provide the financial boost needed to grow your business and eventually meet traditional loan qualifications.

Stay Persistent

Qualifying for a business loan is a process that may require time and effort. Stay persistent, continuously work on strengthening your business’s financial health, and keep updating your loan application to reflect any positive changes.

Platforms like LendersCompete.com are instrumental in bridging the gap between lenders and businesses, offering a competitive and accessible way to secure funding. By understanding the qualifications, preparing your application thoroughly, and leveraging resources available, your business can successfully navigate the path to securing a loan.

How to Qualify for a Business Loan on LendersCompete.com
How To Create A Business Plan
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