A business loan is a financing solution provided to businesses to cover various expenses, such as startup costs, equipment purchase, expansion, or working capital needs. It’s typically repaid over time with interest. Schedule a meeting with us to discuss your unique finance needs.

There are several types of business loans, including term loans, lines of credit, equipment financing, invoice financing, merchant cash advances, and more. The best type depends on the business’s specific needs and financial situation. Schedule a meeting with us to discuss your unique finance needs.

Qualification criteria vary by lender and loan type. Common factors include business age, credit score, annual revenue, profitability, and the business’s overall financial health. Lenders often require financial statements, a business plan, and other documentation. 

The loan amount depends on various factors, including the type of loan, the purpose of the loan, the business’s financial standing, and the lender’s terms. It can range from a few thousand to several million dollars.

A secured business loan requires collateral, such as property, equipment, or inventory, which the lender can claim if the loan isn’t repaid. An unsecured loan doesn’t require collateral but may have stricter qualification criteria and higher interest rates due to the increased risk to the lender.

Interest rates are influenced by several factors: the lender’s base rate, the type of loan, the business’s creditworthiness, the loan term, and current market conditions. They can be fixed or variable.

To apply for a commercial loan with Yoda Capital Finance, you will need to provide details of the purpose of the loan, plus documentation of your current financials. Documentation requirements can vary based on the type of commercial loan you are looking for and the lender. We also have access to several low-doc options with flexible income verification. Furthermore, we also provide non-dilutive venture debt to revenue-generating startups. To receive a quote, simply click the Get a Quote or Live Online Chat button on this page.

We understand things don’t always go according to plan, so each loan is individually assessed and tailored to your unique circumstances and requirements.

Yes, besides interest, lenders may charge origination fees, processing fees, late payment penalties, early repayment fees, and other associated costs. It’s essential to read the loan agreement carefully to understand all potential charges.

The approval timeline varies based on the lender and loan type. Some online lenders might offer decisions within 24 hours with funding the same day, while traditional banks could take a few weeks. Complex loans, like those for large amounts or involving collateral, might require more extended processing times.

While startups can apply for business loans, they might face challenges due to a lack of credit history or revenue track record. However, some lenders specialize in startup financing, and there are alternative funding options like angel investors, venture capital, or crowdfunding.

If you foresee difficulties in repayment, it’s crucial to contact the lender as soon as possible. They might offer a revised payment plan. Consistent failure to repay can lead to penalties, higher interest rates, credit score impact, or, in the case of secured loans, the loss of collateral.