If you’re a small business owner in the state of North Carolina, you’re likely on the hunt for a funding solution that best fits your needs. It can be a daunting task, as every company has its own unique hoops to jump through when dealing with lenders such as a bank or credit union, which creates specific financing requirements. Here at AdvancePoint Capital, we offer a wide range of small business loans and short-term cash flow options for businesses of all types and sizes. If you require financial support for growth, keep operations afloat due to the economy, finance renovations to your business, or plug cash flow leakages — we can help.

You’ve probably taken a look at traditional loan options from a bank, credit union, or other financial institutions, and if you’re here, you’ve come up empty-handed. Maybe you’ve been denied due to poor credit history, or perhaps you’re too afraid to be denied at all. Some businesses may even be waiting on the bank’s final decision and are running short on time. Our services offer small businesses alternative financing solutions for business owners just like you to get the cash flow support you need — fast, with a quick decision. Let’s get started, try out our services, and learn about our small business menu of funding options and what lending partners are available for your success.

Small Business Term Loans for North Carolina Small Business

Throughout North Carolina, small businesses seeking a funding option that looks similar to a traditional bank loan can benefit from a business term loan. Loans come with a fixed amount of upfront capital and a fixed interest rate; you also get fixed terms and payments — making for a straightforward option.

  • $10,000 – $1,000,000
  • All credit types are considered
  • Fast processing time
  • loans range from 3-10 year repayment

Small Business Line of Credit in North Carolina

A business line of credit works comparable to a credit card, in which you can draw money from it when your business needs it most. Perhaps the best feature of this product is that you only pay interest on your outstanding balance, making it a great revolving line of credit option.

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

Short Term Business Loan

Businesses in North Carolina with a poor credit history or a limited time in business can benefit from short term loans. These loan options have term lengths of around 6-18 months. 

  • $10,000 – $1,000,000
  • Substandard, mid-prime, to subprime credit scores, are considered
  • Processed in as little as one day 
  • 6-18 month repayment

Are you a business owner in North Carolina who is having difficulty finding the ideal business loan solution? We offer alternative financing options for businesses throughout the state! We can achieve success for you. Try out our services, Get a quote today, and let’s get started!

Merchant Cash Advance in North Carolina

If you own a business that runs on credit card and debit card sales — a merchant cash advance can be a sound choice. Merchant cash advances aren’t technically a loan, but rather an advance that uses your monthly cash flow as collateral — and you repay your advance with future sales. It’s a flexible option that you can rely on.

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

Equipment Financing in North Carolina

Let’s face it; equipment is an essential yet expensive necessity for many businesses. You can use the future purchase of equipment as collateral for the cash you need today, making it an excellent option for healthcare industries, restaurant owners, and other industries that rely on expensive equipment.

  • $10,000 – $1,000,000
  • All types of credit considered
  • Processed in as little as two days
  • 1-5 year repayment

Small Business Administration (SBA) Loans in North Carolina

The (SBA) Small Business Administration office is a Federal government agency that provides programs, guidelines, and loan guarantees to approved lenders for business funding. Since its founding, the Small Business Administration’s mission has been to deliver millions of loans, loan guarantees, contracts, counseling sessions, and other forms of assistance to U. S. small business entrepreneurs. The SBA is not a lender and merely provides a guarantee that gives approved lenders the ability to take on the risk of small business lending with attractive rates and terms that could not normally be afforded to small business owners. Without the Small Business Administration (SBA) guarantees, the approved lenders would not be comfortable lending these loans under the SBA’s terms.

  • $10,000 – $1,000,000
  • All types of credit are considered
  • Application process from 1 week up to a month depending on the program
  • Variety of Programs to help U. S. small businesses including the Loan Program 7(a), Loan Program SBA Express, and Loan Program 504 C (Real Estate for Collateral)
  • A business plan may need to be provided depending on the program
  • Interest rate ranges from 6-8%

Small Business Administration (SBA) Economic Injury Disaster Loans (EIDL) – In response to the Coronavirus (COVID-19) pandemic, small business owners, including agricultural businesses and nonprofit organizations in all U.S. states, Washington D.C., and territories can apply for an Economic Injury Disaster Loan. The SBA EIDL Federal government program is designed to provide economic relief to eligible businesses currently experiencing a temporary loss of revenue due to coronavirus and its impact on the economy. This SBA EIDL loan offers financial relief for qualified businesses and nonprofit organizations currently experiencing a temporary loss of revenue due to COVID-19. Interest rate 3.75% for small businesses; 2.75% interest rate for private non-profits. Long-term repayments of up to 30 years.

U.S. Small Business Administration

Start, Grow, and Expand your Business
View the North Carolina Small Business Resource Guide for information and assistance in growing your local business, exploring funding options, and contracting in North Carolina.

 

Invoice Financing in North Carolina

Unpaid invoices can be a pain and even be detrimental to the progress of your business. However, invoice financing allows businesses to leverage outstanding invoices to get cash fast.

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

Why Does Your North Carolina Business Need a Small Business Loan? What Are the Funds Going to Be Used For?

The first step in choosing your ideal financing solution is to outline why exactly you need a loan in the first place. It’s here that you can choose some potential contenders and ditch options that don’t fit your needs or requirements. Let’s explore some popular reasons for financial help.

Working Capital is always a necessity for business owners. When sales rise and fall, operating a business still requires some additional capital on hand, depending on the situation.
Marketing budgets usually get left by the wayside, but for business owners that have a plan — it’s a must. Promotional costs, digital advertising, and other marketing endeavors require some funding.
Equipment isn’t cheap, and North Carolina business owners that rely on equipment for everyday processes and output know this. Finding a financing solution to keep equipment updated or up to compliance standards is always needed.
Growth comes with a price tag. Whether it’s moving to a new office or hiring new employees, needing additional resources, the cost of infrastructure while scaling requires some funding assistance.

So, have you nailed down why you need a business loan? Fantastic; here are some other important questions and considerations to take into account.

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

Additional Resources and Information in the State of North Carolina for Small Business Owners

North Carolina Small Business Development Fund – Carolina Small Business is a statewide nonprofit and Community Development Financial Institution (CDFL). They lend to start-ups and existing small businesses across the state, emphasizing small businesses that have difficulty accessing financing through traditional lending resources.

Frequently Asked Questions by North Carolina Business Owners

How do I get approved for a business loan? Do I need a business plan?There are essentially three main factors that affect business loans and your 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 long you have been in business, financial statements such as business bank statements, profit and loss statements, or business and personal tax returns. You don’t need a business plan for most business funding products.

What credit score is needed for entrepreneurs to get a business loan?

Credit will vary wildly depending on the business funding option selected. Everything from excellent to poor has a program, but the better the credit, the better the rates and terms will be, that is for sure!

What bank or lender is giving the SBA loans?

Most banks offer SBA loans, but they are not all equal or have the same appetite for all SBA programs. Let AdvancePoint Capital assist you in all your SBA loan needs.

Who can qualify for an SBA loan?

There are many qualifications and requirements for SBA loans, depending on the SBA loan program. Contact AdvancePoint Capital for more details.

How do I choose the right business lender?

Let AdvancePoint Capital do the work for you!

Which Business Funding Is Right for Your North Carolina Small Business?

We wish there were a universal solution that every North Carolina business could put their faith into, but that’s simply not how loans work. Every business demands certain outcomes and terms — and finding a lending option that best suits your particular circumstances means digging a little deeper. The good news is that there are several business loan options available.

Here at AdvancePoint Capital, we’ve established ourselves as a trusted funding partner for businesses throughout North Carolina. With a wide variety of loan options, terms, and repayment options available, we’re able to empower business owners throughout the state to move their company forward.

Start with this Online Form

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!

AdvancePoint Capital offers an easy business loan experience. Our customers love the fast, streamlined process and high approval rates that come from working with us. All credit scores are considered.

The quick, convenient, and straightforward way to get the loan you need for your business – now!

Applicants can contact AdvancePoint Capital and Get your Quote Today by filling out our simple form.

Get Quote Now!

* 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.