Alliance Financing Group is pleased to offer a short term working capital loan product as part of our working capital financing solutions for companies across North American.
Short Term Working Capital Loan Product: Underwritten by a North American alternative lender. This lender is a short term (bridge) lender with a focus on financing small and medium size companies for their near term growth opportunities. This product offering is a good fit for a borrower who requires additional short term liquidity to support an opportunity or solve a short term cash need.
Available Loan Amounts: $5,000 minimum to $150,000 maximum ($250,000 maximum in USA)
Term: 6, 9, 12, 15, 18 or 24 months
Interest Rate: From 15% for 6 month term. Longer terms require higher rates. No upfront lending fees
Daily Payments (business days only)
Minimum Qualification: Available for corporations, LLCs, proprietorships or partnerships. The business must be established for at least one year, with annual revenue of at least $100,000 and minimum average bank balance of $3,000. Majority owner(s) to provide personal guarantee. Guarantor(s) must have minimum credit score of 600.
Simple Application Process: completed credit application and 3 months bank statements / merchant account statements.
Sample Loan and Payments: $50,000 term loan for 6 months. Payments of $456.35 daily (business days), starting the 1st day after the loan advance. Total payback is $57,500 over the 6 months.
Top Approved Industries:
| · Automotive Repair
· Dentists · Physicians · Beauty Salons · Gift Shops · Restaurants · Furniture Stores · Plumbing, Heating & Air Conditioning · Hotels / Motels |
· Sporting Goods Stores
· Supermarkets / Grocery · Gas Stations · Nail Salons · Retailers (except Tobacco) · Electronics Stores · Clothing Stores · Cleaning Services |
· Veterinarians
· Home Health Care Services · Home Furnishings Stores · Optometrists · Auto Parts Stores · Bars · Jewellery Stores · MANY MORE |
Restricted Industries:
| · Financial Services / Investments
· Insurance Brokers / Agents · Real Estate Brokers / Agents · Mortgage Brokers / Agents · Tax Preparation Services · Pawn Shops / Consignments · Adult Entertainment · Appraisers · Funeral Services · Schools / Day-care Facilities · Personal Trainers |
· Automobile Dealers
· RV & Trailer Dealers · Motorcycle & Boat Dealers · ATV/Snowmobile Dealers · Outdoor Power Equipment · Payroll Companies · Call Centres · Law Firms · Farming · Religious Organizations · Sports Groups & Venues |
· Non-Truck Based Freight Transportation
· Logistics/Freight Forwarding · Passenger Transportation · Marinas · Travel Agencies · Tour Operators · Mining · Energy Generation / Distribution · Printing & Publishing · Non Profit Corporations |
