Atlanta is the most populous city in the State of Georgia, with an estimated population of 498,000 and is also the 37th most populous city in the United States. The bigger economic story about Atlanta is the fact that the city and the Atlanta metropolitan area (includes Fulton and DeKalb as well as surrounding areas) is home top 5.9 million people and the 9th largest metropolitan area in the nation. Atlanta ranks in the top 20 among cities in the work and 10th in the nation with a gross domestic product of $385 billion. 

Atlanta has a diverse economy with industries like professional services, media operations, medical services, information technology, logistics, and transportation. Atlanta is a major transportation hub with Hartsfield-Jackson Atlanta International Airport being the world’s busiest airport by passenger count since 1998. 

Atlanta is not unique in the fact that small businesses struggle to get funding from traditional banks that have a responsibility to protect there both business and consumer customers deposits and follow Federal Reserve requirements and guidelines. Because of banks’ high credit standards, strict financial statement requirements, and a mountain of paperwork, many small businesses are shut out from access to capital.

The good news is there is a lot of alternative business funding products available. AdvancePoint Capital has a marketplace full of business funding alternatives for Atlanta Businesses.

The 9 Best Small Business Financing Options for Atlanta

1. Long Term Business Loans for Atlanta

When Atlanta area business owners need large amounts of capital and payments that are affordable, many look to long term business loans to be that solution. Long term is defined by a loan that exceeds to years in duration. You get a lump sum upfront, over a fixed term, with typically a fixed interest rate. The most common purpose of these types of products is for business expansion and growth. These long term business loans do not allow you to draw money as you go like a business line of credit. 

Product Overview

Rates: Interest Rates starting at 6.50% 

Terms: 2 to 5 years

Fees: 0% to 3% Origination Fees

Payments: Monthly or Bi-Weekly payments

Credit Standards: good to excellent credit preferred, but all credit considered 

Documentation: Standard Documentation, Business Bank Statements, Financial Statements, Business Tax Returns 

Processing Time: 3 to 5 days

Benefits and Best Uses of Long Term Business Loans

The obvious benefit to long term business loans is the duration of time of repayment. The longer duration allows for larger borrowing amounts while still maintaining affordable payments. This product is used for large expenditures that exceed 100% of the monthly revenue of the business as well as business expansion projects.

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2. Business Line of Credit in Atlanta

A Business line of credit, like a credit card, is a flexible option that you can draw funds when needed on demand. A business line of credit is a revolving line of credit that charges an interest rate and has a credit limit that cannot be exceeded without approval. Typical business lines of credit require renewal either semi-annually or annually to be extended.  

Product Overview

Rates: Interest Rates starting at 6.50%

Terms: Revolving line of credit. Renewed annually or semi-annually

Fees: 0% to 3% Origination Fees

Payments: Monthly, Bi-Weekly or Weekly payments

Credit Standards: Good to Excellent credit preferred. All credit considered.

Documentation: Standard Documentation. A 1-page application and 3 months bank statements, sometime financial will be required depending on credit limit.

Processing Time: Same day to 3 to 5 days 

Benefits and Best Uses of Business Line of Credit 

You can sum up a business line of credit benefits in one word: flexibility. The ability to draw funds at any time without question up to the credit limit is a very popular feature with Atlanta business owners. This flexibility can solve any last-minute purchases or emergency cash flow issues.

3. Business Credit Cards in Atlanta

Business credit cards have the same features and functions like a regular credit card. Credit cards are revolving credit lines that charge a principal & interest rate with a credit limit. A card is issued that is used for both purchases and payments. Business credit cards are part of the financial toolbox that most Atlanta business owners utilize in conjunction with other business loan products.

Product Overview

Rates: Introductory rates at 0% up to 28.99% Interest rates

Terms: Revolving line of credit, credit limits but with no term limits 

Fees: $0 to $500 Annual fees

Payments: Flexible monthly payments

Credit Standards: Must have good to excellent credit and deep credit history

Documentation: No Documentation for smaller amounts $3,000 up to $15,000. Larger credit limits may require documentation if you are looking for more money or an increase to prove ability to repay.

Time Frame: Instant approval available

Benefits and Best Uses of Business Credit Cards 

Business credit cards are very popular with Atlanta business owners because this funding option offers flexibility to access money or pay bills on demand.

4. Short Term Business Loans in Atlanta

Short term business loans are a great alternative for Atlanta area businesses when traditional business financing is not an option. Short term business loans feature a lump sum of money with a fixed payback amount calculated using a factor rate over a short term of time (typically 6 to 18 months). Rates are based on a “factor cost,” not principal an interest costs more than traditional business loans. The popularity of this type of financing is that the products reduced documentation and credit requirements are laxer than traditional business loans because they charge more for costs, are shorter-term, and the payments are more frequent to minimize lenders’ risks.

Product Overview

Rates: factor rate based on the funding amount range from 1.09% up to 1.45%

Terms: 6 to 18 months in duration (typically 12 months or less)

Fees: 0% to 5% Origination Fees

Payments: Weekly, Bi-Weekly and in some cases daily Monday-Friday

Credit Standards: All credit types considered 

Documentation: Reduced Documentation. A 1-page application and 3 months bank statements required 

Processing Time: Same day to 24 hours

Benefits and Best Uses of Short Term Business Loans 

Short-term business financing is an alternative when you can’t get approved for a traditional business loan from a bank. The money can be used for any need that a business would have, including meeting cash flow needs for emergency purchases.

5. Business Cash Advance in Atlanta

Business Cash Advances (BCA) is a Purchase of Future Sales Agreement or also known as a Merchant Cash Advance. A BCA advances money base on the business sales to a business with a fixed payback amount known as the specified amount. This difference between the amount advanced and the payback amount is known as the “Factor Rate,” which is a fixed cost and does not function like principal & interest rate business loans. The advance is repaid by taking a fixed percentage of future overall sales deposits. 

Payments are collected by an ACH fixed daily or weekly payment deducted from a business bank account based on the fixed percentage of future sales. Upon the end of every month, if the fixed payments are taken are more than the set future percentage of sales (known as the specified fixed rate), a business owner can request a refund back to the business for the overpayment. Repayment continues until the payback amount is paid back in full. There is no term limit with advances as the fixed payback percentage ever changes due to fluctuating future sales.

Product Overview

Rates: Factor rates range from 1.09% up to 1.45% (risked based pricing)

Terms: No term limits (payoff depends on future sales) 

Fees: Origination Fees range from 0% to 5%

Payments: Weekly or daily Monday-Friday Fixed ACH payments 

Credit Standards: All credit considered. Poor to Excellent credit accepted. 

Documentation: Reduced Documentation. 1-page Application and 3 months bank statements are all that is required.

Processing Time: Same Day to 24 hours

Benefits and Best Uses of a Business Cash Advance 

Business Cash Advances is a great alternative when you can’t get approved for traditional business loans or short term business loan financing. The most popular use of funds is working capital to improve cash flow. 

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6. Merchant Cash Advance in Atlanta

A merchant cash advance (MCA) is a Purchase of Future Sales Agreement, which is similar to that of a Business Cash advance, but the biggest difference is the repayment process, which is attached to the future credit card sales instead of overall sales. MCA’s take a set percentage of future credit card sales at the time of batch until the advance is paid back in full. Atlanta area businesses find this valuable when they have low average daily balances or credit issues that prevent them from getting other business financing options. They like the fact that the repayment is attached to the future credit card sales of the business, which provides greater flexibility and security of not impacting profit margins due to decreased sales that a fixed payment does not provide.

Product Overview

Rates: Factor rates 1.09% up to 1.45%

Terms: No term limits (payoff depends on future credit card sales)

Fees: 0% to 3% Origination Fees 

Payments: Set fixed Percentage of future credit card sales withdrawn at time of batch of credit card sales

Credit Standards: All credit considered

Documentation: Reduced Documentation. 1-page Application, 3 months processing statements and 3 months bank statements are all that is required.

Processing Time: Same Day to 24 hours

Benefits and Best Uses of Merchant Cash Advance 

Houston business owners love Merchant Cash Advance because it provides working capital when other business funding options do not. Also, the flexibility of the repayment allows for ups and downs in sales that a fixed payment does not. A merchant cash advance is used for working capital and cash flow.

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7. Equipment Financing for Atlanta

Equipment financing uses the equipment as collateral and security for purchase equipment for a business. This product is commonly used by Atlanta area businesses in the healthcare and manufacturing industries but is eligible for all business that needs equipment to operate. You do have to have well to excellent credit to acquire equipment financing, but limited paperwork is necessary to get approved. 

Product Overview

Rates: 1.09% up to 1.45% Factor Rate

Terms: No term limits 

Fees: 0% to 3% Origination Fees 

Payments: Weekly or daily Monday-Friday Fixed ACH payments 

Credit Standards: All credit considered

Documentation: Low Documentation. 1-page Application and invoice for equipment

Time Frames: Same Day up to 3 days

Benefits and Best Uses of Equipment Financing 

Equipment financing allows you to secure the lease or loan for equipment that the lender has as security.

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8. SBA Loans in Atlanta

The Small Business Administration (SBA) provides programs, guidelines, and loan guarantees to approved lenders for businesses throughout the Atlanta area. The Small Business Administration’s mission is to help Americans start, build, and grow their businesses successfully. The SBA is not a lender. They provide guarantees to those approved lenders to recover a certain percentage (up to 80%) of the business loan if it were to default. This guarantee gives the approved lender ability to take on the risk of business lending under SBA terms that they would not ordinarily do so on their own. SBA loans are highly sought after by Houston businesses. They are difficult to obtain because of extensive document review and high credit standards. It is estimated that less than 20% of applications are approved for business funding. 

Product Overview

Rates: Interest Rates starting at 6.50% 

Terms: 3 to 25 years 

Fees: 0% to 3% Origination Fees

Payments: Fixed monthly payments 

Credit Standards: Good to excellent credit preferred but all credit considered

Documentation: Full Documentation. Application, 6 months business bank statements, two years business tax returns, year to date Profit & Loss, and Balance Sheet. More documents may be request upon review.

Processing Time: 1 week to 30 days

Benefits and Best Uses of SBA Loans 

Atlanta area business owners seek SBA loans because of the great rates, low fees, and long term duration of financing. With longer terms, a small business can acquire more capital with affordable monthly payments. This product is used primarily for business expansion and growth as well as funding long term projects.

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9. Invoice Financing in Atlanta

Invoice financing offers Atlanta area businesses the ability to improve the cash flow of the business by getting an advance on outstanding invoices. This fulfills the need for cash quickly and can’t wait on outstanding invoices an advance off of that invoice ahead of payment by the client. Invoice financing allows businesses to obtain a cash advance now at an affordable cost of 1% to 2.5% fee off of the face value of the invoice.

Product Overview

Rates: 1% to 2.5% Factor rates 590

Terms: No term limits 

Fees: Monthly Service fees depending on volume of invoices factored

Credit Standards: Credit of the Clients need to be favorable NOT the business owner advancing off invoices

Documentation: Reduced Documentation. 1-page Application and roster of clients and current accounts receivable aging report

Processing Time: 1 to 2 weeks to set up then ability to fund invoices daily

Benefits and Best Uses of Invoice Factoring

Invoice Factoring is popular with Atlanta businesses because it helps supplement cash flow in real-time without waiting for 30, 60, or 90 days or more for invoices to be paid by clients for an affordable fee. 
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The fast, convenient and straightforward way to get the money you need for your business – now! Get Your Quote Today by filling out our simple form.

Why Does Your Atlanta Area Business Need a Business Loan?

The most common reasons Atlanta area businesses acquire capital for their business.

  • Working Capital
  • Equipment
  • Business Expansion
  • Cash Flow shortages
  • Emergencies
  • Advertising

Frequently Asked Questions

Are Business Loans in Atlanta area difficult to obtain?

The good news is that it is not difficult to getting financing for your business in the Atlanta area. The Atlanta area is a highly populous area and a major metropolitan area with a stable and diverse economy that business lenders love due to the predictability of business functions in the region.  

Can I qualify for a Business Loan in Atlanta if I have bad credit?

The short answer is yes. There are many business financing options for Atlanta area business owners with bad credit. Products and terms will vary depending on the different levels of bad credit, financial condition, and most recent cash flow.  

Can I get Business Loan with No-Docs?

Business Credit cards can provide funding for your business without documentation. There are other business funding products that require less or reduced documentation. Keep in mind that the less documentation you provide, the more likely the terms will be less favorable. Choose business products carefully when choosing this option.

Can I get a Start-up Business Loan in Atlanta area?

Getting a start-up business loan in Atlanta area like other parts of the country is extremely difficult and challenging. We suggest private sources or investors when searching for start-up capital.

The Bottom Line: Advice, Tips, Warning’s about Atlanta Area Business Loans

When looking for financing for your business, the process always begins with what is the purpose and use of the money you are trying to acquire for your Atlanta area business. What challenges may exist in getting approved? (Credit Issues, Bank Statement cash flow issues, time in business, financial statement issues).

No two options are the same, and there is not a one size fits all approach. Always consider the cost versus benefit analysis when choosing a business funding option. 

AdvancePoint Capital can help you navigate through the search in an easy and painless way without wasting time or, more importantly, money. We have a large marketplace with many different product offerings. As we always say at AdvancePoint Capital, compare, shop, and you will always save!   

How to Apply for Small Business Loan in Atlanta?

We at AdvancePoint Capital can assist you in finding the business financing solution you need. We offer an easy business loan experience that our customers love, that is a fast, streamlined process and high approval rates that come from working with us. 

Applying for a loan with AdvancePoint Capital is as simple as a 1, 2, 3, 4 process. Start with this online form, then fill out the short application page, wait a few hours for your approval, and then get your money!

The fast, convenient, and straightforward way to get the money you need for your business – now! Get your Quote Today by filling out our simple form. A convenient and straightforward way to get the money you need for your business – now!

Get your Quote Today by filling out our simple form.

* All loans made by either WebBank, an FDIC-insured Utah industrial bank, or Bank of the Internet Federal Bank, an FDIC-insured federally chartered thrift located in California. In connection with the loans, the Banks' underwriting conditions and terms apply.