Sigma solutions llc
www.sigmasolutionsloans.com/Lenders have different eligibility requirements for short-term financing, but in short, they want to feel confident that you’re going to repay what you borrow. Because of this, they’ll often require a combination of the following:
Length of time in business: Typically, six months or more.
Annual revenue: Some lenders let you apply for a short-term business loan with just $50,000 in annual revenue, but more commonly, you’ll need at least $100,000 in yearly revenue.
Credit score: Most short-term loans require you to have a personal credit score over 600, but some lenders have looser standards.
Personal guarantee: Since these types of loans are often targeted at businesses in need of fast access to cash, many lenders require a personal guarantee to secure the loan.
Last comments