Unsecured Small Business
Business Lines of Credit
A line of credit, aka an LOC, is a financial arrangement between a lender and a customer that creates a maximum loan balance that permits the borrower to access or maintain at any time.
Qualifying for an Unsecured Line of Credit
Applying for a business line of credit from a traditional bank takes time and effort that does not always yield the desired results. With EML Capital Group, you do not need to have an exceptionally high credit score or go through a difficult or time-consuming application process. We make it quick, simple and easy so that you can get the approvals and funding you need. All you need is to have been in business for three months and have generated $10,000 in gross monthly sales.
EML Pays More. Faster. Easier.
Unsecured financing can often offer higher loan amounts. Secured business funding has limits that Unsecured Business Funding does not. Unsecured funding is faster and often has higher loan amounts. Unsecured loans also skip the annoying appraisal step. In fact, with EML Capital Group funding can often be obtained within 24 hours of application. This type of loan requires less paperwork, less documentation, and causes fewer headaches than secured business funding.
Knowing that you have a history with a lender in your corner is crucial.
Every business needs to build a solid relationship with a lender for support to get quick funding for the business.
Flexible Payment Terms
Flexible payment terms are definitely one key advantage of an unsecured business loan from EML capital group. Our term lengths can range from three to three years depending on the situation.
Here at EML Capital Group, we specialize in unsecured business loans, and over the years, we have helped business owners in all industries secure the cash they need, fast.
Business Lines of Credit
One of the most common small business finance options is a business line of credit.
A business line of credit is a great way for business owners to get access to an ongoing stream of funds to help pay bills, maintain the daily operations of the company, and manage cash flow.
Basically, a Line of Credit or LOC, is a business loan that helps businesses grow by opening up another source of funding. It can be for purchasing supplies, inventory, or even covering expenses.
Maintaining cash flow is one of the most common uses for a business line of credit.
It happens all the time to businesses, unexpected circumstances arise that can make it difficult to maintain cash flow. No matter the reason, the best thing to do is to give us a call.
It’s important to understand your options; there are a few differences between a line of credit, a credit card and a business loan. Our specialists are here to use their wealth of experience with the different types of funding options to tailor the perfect solution to fit your specific needs.
Business Line of Credit vs. Loan
What is the difference between a business line of credit and a traditional business loan?
Although similar, there are subtle differences that allow each option to offer its own advantages.
These differences are important to consider when making your decision for funding your business.
Interest rates are one difference.
Business loan rates are usually fixed, and dependent on your credit score and level of risk.
For a business line of credit, the interest rate is generally tied to market rates.
Another difference is the way the payments are structured. With a business loan, you have a set amount that is due each month until the loan is completely paid off. With a business line of credit, your monthly payment depends on how much of the line of credit was used.
Basically, instead of having a set amount to pay monthly, the amount to pay will vary depending on your monthly spending.
Unsecured Business Loans
An unsecured loan is a loan that is supported by the borrower's creditworthiness, rather than with any type of collateral, also called a signature loan or a personal loan.
Unsecured Business Loans vs Traditional Loans
An Unsecured Business Loan has an attractive advantage over a Secured Loan. One big difference is that Small-business owners don’t have to put up collateral.
When the loan is secured, the assets you use as collateral are at risk — perhaps even your home. If your business goes south and you can’t pay the loan, the lender can take your home away.
Unsecured loans, on the other hand, place the burden of the risk on the lender. These loans will likely carry a slightly higher APR than secured business loans, but they typically come with higher approval rates and faster funding. Although you don’t need collateral to qualify, you will need to bring in an average of at least $10,000 a month in business revenue, several months of operating history. There is no industry restriction with an unsecured business loan, nor do you need a perfect credit score.
Working capital is needed for any business to remain afloat, as it provides companies with the funding they need to proceed with day-to-day operations.
Don't wait to get the funding you need.
All companies inevitably go through a rough patch, and they may need to apply for a loan that provides them working capital. This is especially true for small business owners that wait weeks, and sometimes even months, to get paid on invoices for work that is already completed. If your business is in need of short term working capital and financing, EML Capital Group can help you land the funds you need.
Our experts have years of experience in the field, and they help you find the money you need to ensure your business does not tragically come to a halt. The first step to providing your business with short-term working capital is to call EML Capital Group. We walk you through the steps of securing a small-business loan, and we help make certain the daily operations of your business are not interrupted.
Merchant Cash Advance
Merchant cash advances allow small businesses to repay a fixed percentage of daily credit card sales transactions until the loan is paid back to the lender in full. With some of the highest approval rates, Merchant Cash Advances are widely accessible to business owners looking to get funding solutions for a number of different issues.
At times when you wouldn’t qualify for a traditional loan, a merchant cash advance can be the right answer for your business. Merchant Cash Advances from EML Capital Group have quick approvals, meaning that business owners don’t need to wait for a long approval process.
Merchant cash advance loans are specifically designed to help your business grow without putting a strain on it. Your credit score does not play a factor, nor any set payback period.
How it works
A Merchant Cash Advance (MCA) is a smart alternative to traditional small business loans that is cash flow friendly. Interestingly, it isn't actually a loan at all. It is a purchase of future credit card receivables from your business.
EML Capital Group bases your future credit card sales on your prior six months of business, and provides working capital. Instead of paying one big monthly payment with a set date like a loan, you pay a fixed manageable percentage of credit card sales until paid in full. This allows the business to have the flexibility to not make high payments when business is slow.
Merchant Cash Advances Vs. Business Loan: What’s the difference?
There are many differences between merchant cash advances and traditional lending; merchant cash advance has a quick application process and less paperwork. EML, however, makes the process short, easy and convenient with its simple application. With our merchant cash advance, your business will be able to survive because we focus on the potential your company has for earnings in the future, and disregard credit scores. We have helped many business owners get through tough financial times, and we can do the same for you.
Advantages of Merchant Cash Advance.
One of the biggest advantages of a Merchant Cash Advance is that even with less than perfect credit you can get a flexible payment plan that works for you. Besides for that, there is less paperwork, a quick turn-around time, no collateral or personal guarantee, and you can use the funds for whatever you need such as purchasing, advertising, marketing, hiring, expansion, or just to improve cash flow.
How Can You Get a Merchant Cash Advance?
It’s very easy to start your application for a merchant cash advance. You have three options for applying
You can call 844-EML-FUND (365-3863) to speak with a representative in the USA.
You can complete an online form and leave a message explaining your business needs.
You can request an online chat with a representative.
We pride ourselves on being able to react faster than anyone else out there.
Businesses that are growing rapidly don't have the luxury of being able to wait several weeks or months to get a loan. We can help you get financing of up to $500,000 in as little as 1 business day.
Time is Money
Cost is an important factor when choosing a business loan, but sometimes getting your loan fast is just as important; after all, time is money. No matter what the situation is, EML Capital Group will be there to react quickly and effectively when you need help.
Applying for a business loan through traditional institutions can be frustrating, time-consuming and complex. However, EML Capital makes business loan decisions quickly and efficiently. In fact, we can make our decisions in as quick as 2 hours and are proud of our over 90% approval rate.
EML Capital Group understands the need for flexibility in business. We believe that bad credit should not hinder you from getting the cash you need for your business
We offer flexibility with approval and with the details of the loan itself. We offer fast funding. You receive no stipulations for spending your funds. You can use your funds in many ways, such as improving cash flow, paying debts, allowing you to be able to take advantage of new business opportunities. We don’t put any restrictions on how you use your funds and you have the freedom to use them at your discretion. Our flexibility is built to cater to your business needs.
Get Started with EML
It’s very easy to start your application for a merchant cash advance. You have three options for applying:
You can call 844-EML-FUND (365-3863) to speak with a representative in the USA.
You can complete an online form and leave a message explaining your business needs.
You can request an online chat with a representative, as well.
Short Term Loans
Sometimes getting a short-term loan is exactly what a business needs. A loan that you can pay back in three or five years instead of five to ten years. Most people think of businesses loans as a long term loan from the bank, however, short term loans have become more and more popular for business owners to take advantage of opportunities quickly.
Short Term Loan, Long Term Gains
Short Term financing usually has higher approval rates than that of long-term bank loans.
EML offers short term small business loans with three month to three year terms from $5,000 to $1,000,000. Coupled with superior service and advice it's one of the best ways to help give your business the boost it needs.
Short term business loans can really help build your business credit. Unlike merchant cash advance, EML Capital Group's short-term loans for businesses are reported to credit bureaus the same as bank loans.
Short term small business loans also give you the right to qualify for larger loans and terms that extend longer at a later date. If you successfully pay off six month loan, then it will help you qualify for a longer term loan should the need arise again in the future.
Our application process is simple. We don’t require any credit card receivables for this process. EML offers a wide range of funding options that can be tweaked and customized according to your business, your cash flow and your time. It doesn't matter how much you borrow; whether it’s $10,000 or $10 million, the process is just the same…simple, quick, efficient, and of course, no upfront fees.
Call us at EML Capital Group to discuss your working capital problems and know about our convenient short-term business loan program.
Bad Credit Business Loans
EML offers a variety of business loans that can fit your business needs. You can apply for a loan with a standard interest rate and term payment. You can apply for a merchant cash advance. Your bad business credit does not need to stop you from obtaining capital for your business to make it rise to the top.
If you have a high score, you'll have a pretty easy time getting funding offers from a wide variety of funding sources. If your score is low or nonexistent, however, you won't.
But a low credit score isn't something you can run away from, and even if you avoid it, it won't go away. The trick is to fund your business in ways that actually get your score back on track.
Here at EML capital, we believe in second chances for business owners. Past struggles should not affect your business getting needed capital. We also believe that seeking funding solutions for your business shouldn’t be a frustrating experience. Every business is unique, and individual needs cannot always be satisfied by only one approach to lending. To help you grow your business apply today. Our team of lending experts will help you to create a financial solution that is exactly what you need.
A Consolidation Program is when one large loan is used to pay off several smaller loans. The goal is to lower the total payments through a lower rate, extending the term, or both.
Many businesses have multiple loans that have been stacked up over time that they want to lower into monthly payments. Many of these companies are able to consolidate merchant cash advances into one loan. They may also be able to extend the term of the advances. We assist in helping businesses pay off the other lender and lowering the payments.
How do I qualify for a business Consolidation Loan?
The key to qualifying for a Consolidation Loan is to reach out to those that specialize in the field and can help businesses find the best programs. EML works hard to make sure to find the program that has the right fit for you, with the best terms and the highest approval rates.
Contact a Funding Specialist at EML Capital Group to get started.
Securing cash flow is one of the most important parts of your business’s success.
With our Invoice Factoring, you will be able to plan ahead and get immediate access to funds from your receivables instead of you having to wait for payment from your client.
When is the best time to approach EML, if we want to factor a future invoice or purchase order?
We usually recommend that you contact us several weeks before factoring a future purchase order. Once we set you up with an account, you will have a variety of options in addition to factoring like opening a line of credit for your business and more.
What is Invoice Factoring?
Invoice Factoring is a transaction where the business sells its accounts receivables or invoices to a factor at a discount. This is done to meet cash needs and sometimes to reduce credit risk. Accounts receivable financing is a term that is more accurate to refer the form of asset-based lending using receivables as collateral.
How is Invoice Factoring Different from a Bank Loan?
Factoring is different from borrowing because the accounts receivables are actually sold instead of just being offered as the collateral. The final result is that your company can then convert its receivable into real cash to operate your business, this way you don't have to wait 30 or 60 or even 90 days time until the customer pays. This process puts the waiting on the factoring company and allows you the time to really concentrate on doing business. We make sure that you receive the cash you need when you need it, allowing you to run your business.
Why Invoice Factoring?
Invoice factoring is a great option for companies that need money quickly and cannot obtain a bank loan. There are many different names for a Business Factoring: Receivables Factoring, Invoice Discounting, Invoice Factoring, and Debtor Financing are all commonly used terms. Non-recourse factoring is also something provided by the better factoring companies which means that they will protect you in the case of your client going insolvent while the transaction is still going on.
Factoring is a great way for companies to infuse their business with cash without taking on additional burdens and debt. Receivable Finance is a great option for most industries, including but not limited to trucking, staffing, distributors, and importers.
Purchase Order Factoring
Purchase order Financing is a funding option for businesses that need capital in order to fill orders.
There are times where there just isn't enough to cover the costs incurred with filling orders. A company that cannot fulfill orders because of cash is a loss both in revenue and reputation. Turning away business because of cash is debilitating to a company's trust level. Seeking out Purchase Order Factoring by EML Capital Group is an excellent solution for business owners.
What other options are available with Purchase Order Financing?
Sometimes the purchase order financing company will open up a line of credit with the supplier. This line of credit will be opened in their name and then backed by them. This will allow businesses with poor credit or low assets to get the supplies they need.
What are the benefits of Purchase Order Factoring?
Purchase ordering financing can be very beneficial. It is very easy to qualify for, and with EML walking you through the processes you will never be left in the dark. Also, what is great about PO financing is that it does not require great credit. The important factor is the creditworthiness of the client that placed the order with your company.
Equipment Leasing is acquiring the use of vehicles, machinery or other equipment on a rental basis in order to avoid the need for investing capital.
Get the use of the machinery you need without having to deal with the burden of ownership.
All kinds of equipment can be leased, and the kind of business you are in and the type of equipment you use can be a big determining factor.
In many businesses, equipment is the foundation that will help your business stand on its own. You may need equipment to help you serve your customers, to outwork rivals or to operate at a better level than your competitors. This often means that you will need to obtain the best commercial equipment available. Sometimes, it may be best for you to lease your equipment in order to spend the remainder of the cash on other essentials. At EML Capital Group, we are familiar with the processes the would help business owners acquire/lease commercial equipment.
Equipment Leasing and Financing Advantages.
It may seem like a complex process to make a decision regarding spending your borrowed capital to borrow equipment. However, leasing equipment can free up some cash that can be used in other aspects of the company. It also is less of a headache, reducing risk and providing financial stability.
The benefits are that you make lower monthly payments than a loan, get fixed financing rate, tax benefits, conserving working capital, avoid high down-payments, and getting access to the most up to date tools needed in business.
Equipment Leasing vs. Other financial options
Buying is not the only alternative to leasing equipment. In fact, it's not even the most common. Loans, Lines of Credit, and Factoring are more popular means of financing equipment as well.
Loans provide more ownership of the equipment, as opposed to a lease where the lessor holds the title to the equipment. A Loan enables you to retain the title securing the purchase against existing assets.
A loan places more importance on the business' credit score. That can make it difficult for small businesses to get approved. Unfortunately, terms are a major drawback for a loan. While a lease provides fixed-rate financing, a Loan or Line of Credit may change throughout the loan term. This makes it difficult and problematic to budget depending on the loan size. Additionally, banks and lenders usually require a larger down-payment. Factoring is also an alternative to buying expensive equipment and is often faster than applying for a loan. By use of factoring, businesses can leverage their accounts receivable and quickly turn open payments into cash.
Benefits of Working with EML Capital Group
Here at EML Capital Group, we have all those options ready at your disposal, and your funding specialist will go over the different options to see what will work best with your business and situation. We are not a computer algorithm, we will work hard to get you the best option.
Secured Business Loans
The success and growth of business often demands access to additional funding. If your small business needs extra money, Secured Loans may be the tool you that you need to overcome challenges and to capitalize on opportunities.
What is a Secured Business Loan?
Secured Loans are offered by financial institutions to business owners that are in need of capital to grow and existing business or pay for ongoing business expenses. These loans require collateral up front which then reduce the risks for the lending party, which in turn will allow a lower interest rate that can be repaid easily by the business owner.
How Can I Acquire a Secured Business Loan?
Using a Secured Business Loan is a great approach to guarantee a lower loan rate, a more drawn out reimbursement period, and the chance to construct credit and build a relationship amongst lenders. EML works with companies to understand the past, current, and future of the client in order to give you the best advice possible.