Miami Kitchen Company is SizzlingNovember 14, 2019
Jim, a business owner in Pointe Verde Beach, FL was looking for a working capital loan to grow his business.
He was told that our website could help but was afraid it would be a waste of time since his credit score was very low.
While his credit score did hurt finding “A” lenders, he found some interested loan sources wanting to help.
These were the lenders he selected:
- An SBA community advantage lender offering a 10-year term loan with 9.75% interest. The rate was adjustable. The estimated monthly pymts were $981.
- Another SBA bank offered a similar loan scenario, but the interest rate was 11.5% and the estimated monthly pymts were $1,055. The lender from this bank may require a co-signer on the loan.
- A non-traditional bank offered him a 1-year loan term with 14% interest which can only be increased. Estimated monthly pymts are $6,735. In addition, they want the minimum revenue to be $120,000.
If you are looking for a fast, easy, and free way to shop for a business loan please give TibBlit.com a try!