Starting up a small business is both an exciting and a scary time. With all of your ideas and dreams finally coming to life, the last thing you want is for something like finance to let you down at the last minute. 

Procuring a small business loan from an experienced, trusted provider can be an ideal way to inject capital into your business, and help take your concept from scribbled notes to a fully functioning reality. It is also a perfect way to expand and grow your business once you have made a start, taking your idea to the next level, and provide funding to support your online business.

Considerations

There is a range of factors to consider when taking out a small business loan. These include:

• The amount you will need to borrow
• The cost of repayments
• Your credit score
• Estimated projected profit for the business
• Tax and savings schemes

It can all be overwhelming, especially for a first-time business owner. The complex process and seemingly endless requirements may put some people off.

Luckily, there is another option which cuts through the fuss and stress and helps you to secure your funding in no time. Its name is Greenbox.

What Is Greenbox?

Greenbox Capital is a company which provides quick and easy access to capital for small business. They can provide credit from $5,000 to $250,000, making them suitable for a range of businesses.

The service provides a non-bank alternative to financing programs. It is estimated that small companies in the US employ almost half the workforce in the country, and so it makes financial sense to invest in these businesses and help them to grow.  Greenbox aims to fuel small companies, giving them the injection they need to make an impact. 

Because of this, their approach to lending is different to that typically offered by banks. The underwriters look at factors such as business stability and potential, as opposed to merely analyzing credit scores. Physical assets are also not required, though those businesses who are looking for a cheaper rate or lack a strong cash flow do have the option to ask about assets backed funding or collateral. 

Providing that your business has been open for at least six months and has a steady cash flow, you are likely to be accepted, and Greenbox will help by providing the initial capital, as well as additional funding as your business continues to grow. 

How Do They Work?

The loans are easy to apply for, with an easy online application which requires very little documentation. The Automated Clearing House (ACH) helps you to keep on top of payments. These will be automatically collected daily or weekly from your bank account. Most loan term lengths range from 3-12 months.

You will only need three month’s worth of bank statements, saving you time looking for tax returns and complex financial details. This streamlines the process and makes it simpler and easier to obtain your credit. 

For an easy, hassle-free source of capital to boost your business, Greenbox is on hand waiting to help; they could transform your business, starting today!