The 50k business loan is one of the most popular loan amount requested and we are going to talk about the pros and the cons of a 50k business loan, how you can get one, what to do and what not to do and if you follow these tips, you can get the business loan as soon as 24 hours.
50k Business Loan within 24 Hours
My name is Erik Johnson. This channel is specifically about loan brokers and how to get business loans. So that is two things that I concentrate on. It is a very exciting industry and I love helping small business owners get the money they need to stay in business and also to help people become financially free with a loan broker opportunity.
So I am going to get into this. Just recently two days ago, a trucking company applied for a $50,000 trucking business loan. They were declined because they had too many negative days in their business checking account.
So when you apply for a loan through us, you are going to have to attach three months of your bank statements. You are going to have to have a voided business check and your driver’s license, and we are going to look over all your details.
What we care about more than credit score is your cash flow. So it is okay if you have a couple of days where you don’t make money, but we are looking for negative days. We don’t want you to have more than five NSF ‘s in the last three months.
We don’t want you to have other outstanding loans. We don’t want you to be applying to three other lenders before you apply to us. We have over 17 in house lenders that can get you the money as soon as tomorrow. There is only one soft credit pull involved in the process.
We are not going to ruin your credit if you apply through us and then that one Soft Pull is going to be applied to all of our lenders, not only the 17 in house lenders, but we also work with over 80 lenders as a whole so we can get you the money.
50000 Business Loan
But if you want a $50,000 business loan, you’re going to at least have to make $25,000 a month in the last three months, definitely to apply up to 50,000. We can loan you up to two times your monthly revenue.
So if you make $100,000 a month with your business, you could probably get up to $200,000 with us. So I am gonna leave a link under this video. So what do you need to do?
You need to have a credit score of 500, be in business for at least four months, and generate 20,000 a month in revenue. Okay, and then not have more than five NSFs in the last three months and not have any other outstanding loans and have a steady cash flow.
If you make all of your money once a month, it’s probably not going to work for you. You probably won’t get approved. But if your cash flow is steady because the way that you pay back this loan is that we connect to your business checking account and it’s automatically withdrawn on a daily basis. And sometimes you can request to have that weekly withdrawn. Okay. So you need to have at least money coming in every single week.
50k Loan for Business
This 50k business loan is perfect for businesses that are wanting to expand or they are wanting to pay off old debt or they want to just get caught up. They want to do marketing. They want to get their name out there.
If you are a trucking company, maybe you are looking for another tractor trailer or you want to create hiring bonuses to get more drivers on board. If you are a restaurant, maybe you are fixing your hood fan. You could be fixing equipment in the kitchen that is unfortunately always breaking down. You might be a salon owner wanting to expand and get another location. Same thing with a auto body repair shop. You know maybe you need a new car lift that can be $20,000.
So we cover over 700 industries. I hope this helps with your funding questions and concerns. You can definitely get approved if your business is healthy, the cash flows healthy. You know you are getting money every single week, but you need additional working capital to keep your business going. So hope this helps guys love you. Hit that subscribe button. Click the link under this article to apply if you meet those requirements, and we will see you on the inside of financial success.