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What Does My Business Qualify For?

All approvals for business cash advances and business loans are based on documentable business cash flow. If revenue cannot be shown by deposits into a business bank statement then they cannot be used for qualifying. This is an industry standard and not just an SBA Capital policy.

Maximum approved amounts are based on an average monthly or annual sales volume. Business cash advances focus mainly on credit card receipts but other deposits are taken into consideration. Business loans will take all deposits into consideration regardless of source.

A business that does a majority of sales with credit cards will generally receive a larger offer with a business cash advance and a business that receives only (or mostly) cash or check sales will generally receive a larger offer with a business loan. SBA Capital reviews all applications for both programs and will present the best offer for each individual situation.

 

Business Cash Advance

In general the maximum offer for a business cash advance will be 125% of average monthly credit card sales. There are some execeptions for businesses that also do a fair portion of cash and check sales.

Example:

Over a 3 month period a business averages $20,000 per month in Visa, Mastercard, and Discover sales. The maximum approved offer will typically by $20,000 x 125% = $25,000.

There are exceptions to this rule so the offer could potentially be higher but in general a business that processes $20,000 in credit cards should not expect an approval over $25,000.

 

Business Loan

In general the maximum offer for a business loan will be 10% of documentable annual sales volume. Sales volume must be documented by deposits into a business bank account. There are no exceptions. If we cannot document the sales volume through bank deposits we cannot include it in qualifying.

Example:

Over a 6 month period a business averages $50,000 per month in total deposits. The annual projection would be $600,000 in total deposits. The maximum approved offer will typically be $600,000 x 10% = $60,000.

There are exceptions to this rule but in general a business that averages $600,000 per year in deposits should not expect an approval over $60,000.

 

Affordability

SBA Capital takes affordability seriously. Our entire underwriting model is centered around it. The maximum approval calculations are just guidelines. The impact of repayment on your cashflow is always at the forefront of our approvals.

Too many funding companies are willing to extend more than a business can afford to repay and it can cause a downward spiral that is sometimes called a cash flow trap. This trap can force a business into borrowing additional funds because they cannot afford to repay the money they already borrowed. No matter who you choose to do business with, take this advice: Only borrow what you need and make sure you can afford to repay it.

If you have any questions about qualifying and affordability, please contract us by phone or email anytime. We can even put you in touch with one of our underwriters directly.

 

Toll Free: 1-800-563-4780

Email: info@sbacinc.com

 

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Small Business Advance Capital, Inc
9603 Deereco Rd, Suite 300, Timonium, MD 21093
1-800-563-4780
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