Chicago Business Loans

Small business owners like you are constantly searching for funding options that work best for your business. Every company is unique and requires a financing solution that reflects their individual needs. We provide business loans and short-term cash flow solutions for companies throughout the city of Chicago area. So, regardless if you need to keep operations running, finance business renovations, or put an end to a cash flow problem — Advance Point Capital can help.

Traditional bank loans are a pain for small businesses to obtain. If you have found yourself waiting on the bank’s decision, or are afraid you may not be approved, don’t worry. There is still a wide variety of financing opportunities for you to choose from when you need cash for your business.

Business Term Loan

If you’re a Chicago business looking for a financing option that resembles that of a traditional bank loan, a business term loan is a great option. You receive a fixed amount of capital upfront at a fixed cost, along with a fixed term and fixed payment.

  • • $10,000 to $1,000,000
  • • All credit types are considered
  • •  Fast processing time
  • •  1-5 year repayment plan

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Business Line of Credit

Similar to a business credit card, a business line of credit enables business owners with the ability to draw money from the line when they need it most. You’re able to do this all the way to its limit and pay interest on your outstanding balance.

  • • $10,000 to $1,000,000
  • • Credit scores above 500
  • • Speedy processing time
  • • Revolving repayment

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Short Term Business Loan

A short term business loan is perfect for businesses with financial roadblocks like poor credit or short time in business. The term length for this type of loan is around 6-18 months.

  • • $10,000 to $1,000,000
  • • Substandard, Mid-Prime, to Subprime credit scores, are considered
  • • Processing Time: as little as 1 day
  • • Length of time of Repayment: 6 to 18 months

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Is your business struggling to find funding through traditional loan options? We provide alternative lending solutions for companies just like yours. Get a quote today through our simple form.

Merchant Cash Advance

The perfect option for Chicago businesses that get a lot of their revenue from credit and debit card sales. With a merchant cash advance, you’re able to leverage your monthly cash flow and repay your advance with future sales. One of the most flexible ways to get cash fast without any term limits.

  • • $10,000 to $1,000,000
  • • Poor credit considered
  • • Processed in as little as 24 hours
  • • Flexible repayment options

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Equipment Financing

Equipment financing allows you the freedom to use the equipment you are buying as collateral for the cash you need today. This option is perfect for businesses that invest heavily in equipment like healthcare industries.

  • • $10,000 to $1,000,000
  • • All credit types considered
  • • Processed in as little as 2 days
  • • 1-5 year repayment

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SBA Loans

SBA stands for Small Business Administration. While they are not the lender — this administration provides guidelines, programs, and loan guarantees to lenders for small businesses in Chicago. This loan gives lenders peace of mind knowing that they can lower the risk associated with their business lending.

  • • $10,000 to $1,000,000
  • • Strong personal credit considered
  • • Processed in as little as two days
  • • Revolving repayment

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Invoice Financing

Otherwise known as invoice factoring, this allows you to leverage outstanding invoices your business has acquired to obtain advances in a day. Invoices typically take 30, 60, or 90 days to get paid. For businesses that need cash fast and can’t wait until they are paid for work, this is a great financing option.

  • • $10,000 to $1,000,000
  • • All credit types considered
  • • Processed in as little as two days
  • • Revolving repayment

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Why Does Your Chicago Business Need a Loan?

Businesses need money for many reasons. However, before you choose a loan option, it’s essential to know why your business needs cash. Before you hop into a financing solution that may not be the best fit, let’s look at some popular financing springboards.

Working Capital Working capital is one of the more common reasons behind a business loan. Sales often ebb and flow, and keeping the business running may take some additional capital.
Marketing Marketing is another typical rationale for a business loan. Promotion is a necessary stepping stone for any business, especially in a market as saturated as Chicago.
Equipment Equipment and other tools cost money. Keeping up with the latest trends and compliance standards can be costly, making this another popular reason for a business loan
Infrastructure Infrastructure or growth typically means a new office space. Moving up is a great thing, but it also costs a lot of money. Finding financing options is a must for businesses that are scaling up.

Once you have an understanding of why you need a business loan, it’s important to factor in a few other considerations.

  • • How much do you need?
  • • Understand your business cash flow
  • • What is your budget?

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There are essentially three main factors that affect business loan qualifications. Depending on what type of loan or advance you are considering, some of these factors may play a larger role than others in qualifying you for a loan than others.

  • • Credit score
  • • How you have been in business
  • • Financial statements such as business bank statements, profit and loss statements, or business and personal tax returns

Which Loan Is Right for Your Chicago Business?

Unfortunately, there’s no one size fits all solution for Chicago businesses like yours to determine the best loan option. Instead, you’ll need to consider which loan provides the best value for the length of time you need cash for. Make certain that the costs and repayment plans associated with your loan work with you instead of against you. Your final consideration is a major one. Can you pay back this business loan? If not, it may not be the best alternative financing solution for you. Luckily, there are plenty of business loan options available.

AdvancePoint Capital has been a trusted source for funding throughout Chicago. Businesses looking for a loan have always been able to find the right financing option that fits their needs, regardless of their credit score. We’re here to empower small businesses like yours with the capital to keep you going.

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.

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* 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.