In a bold move, The Lending Circle, a division of Sunovis Financial, has introduced a new technology which favors small businesses that generate strong cash flows. These cutting edge loans are meant to make capital available to small businesses that might otherwise be denied financing.
San Francisco, CA (PRWEB) October 19, 2012
Sunovis Financial and its division The Lending Circle, have incorporated a new technology that allows small business loans to be offered based on cash flow. This is a marked improvement for those business owners who may have been denied credit. The loans have favorable repayment terms and are available in amounts up to $150,000. The Lending Circle recognizes that many small businesses need capital injections to grow and compete, but credit has been harder to come by in the current economic environment.
While banks and other lenders use collateral and credit scores almost exclusively when making lending decisions, the new platform focuses more on cash flow as the determining factor in their loan decisions. Credit scores will be considered but are less important. This allows businesses who have very strong sales and customers bases to access the capital they need to grow. The Lending Circle can even offer loans to businesses which may have had a loan application denied by a bank.
“We believe in supporting America’s small businesses with access to capital in today's difficult environment. We understand that a business can be very strong, but may have been denied credit. This is why we have introduced the new technology that allows us to evaluate loan applications in a very different way from traditional lenders,” said Terry Robinson, the co-founder and President of Sunovis Financial.
In addition to helping businesses gained needed capital, The Lending Circle has also streamlined the loan application and approval process. The online application form can be completed in minutes, and loans for under $25,000 can be approved very quickly. The funds for these loans could be available to the business owner in as little as 48 hours.
To be eligible, a business must have the following characteristics:
- Based in the U.S. or Puerto Rico
- In business for a minimum of 12 months
- Have verifiable annual revenues in excess of $100,000
These new loans are true business loans and come with fixed payments and terms. They are over 50% less expensive than merchant cash advances on average. Loan payments are reported to the credit agencies, so this could be a perfect way to begin building or rebuilding credit history. The loans can be used for any purpose, from expansion or new inventory needs to general working capital. The business decides on the best use for its business.
About The Lending Circle
The Lending Circle is a division of Sunovis Financial. Our mission is clear: We help small businesses compete and succeed in today’s world through innovative and competitive financing methods. Nothing is more important to us than helping small business grow and thrive.
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This article (The Lending Circle, a Division of Sunovis Financial, Introduces Loans Based on Business Cash Flow) was originally developed by and is property of American Banking News. Checkout American Banking News for up-to-date banking news and peer to peer lending news.