Startup Business loans

START A NEW BUSINESS

WITH OUR STARTUP BUSINESS LOAN

Apply for a personal loan to finance your entrepreneurial ideas and turn your vision into reality.

- Rent a location - Buy Equipment - Purchase Inventory, or more!

Startups have unique financing needs, and we’re here to help. Our loan program offers lines of credit and unsecured term loans for startups, entrepreneurs, and existing businesses. You can get prequalified in just a few hours, with funding available in as little as 5 days.

The process is simple: fill out an online application, choose your offer, and get funded! If you have any questions before starting, don’t hesitate to call our office during business hours. A loan consultant will be happy to guide you through the process.

Loan Amounts:

$25,000 up to $500,000

Terms:

3 to 10 years with monthly payments

Rates:

Range from 6-18%

Startup Business Loans

– Benefits:

Jumpstart your business
Get pre-qualified with a soft credit pull
Low-interest rates
Monthly payments
No prepayment penalties
5 Days for funding
Maintain full ownership

How To Qualify

– Requirements:

700+ Credit score on 2 of 3 bureaus.
5+ Active revolving accounts
History of installment loans
Less than 3 inquires in the last 6 months on each bureau
40% credit utilization or less
Verifiable income (taxes, pay stubs, w2, etc.)
Fill out a simple online application

For Your Business Through Startup Business Loans

If you have a business idea, securing a startup business loan is one of the most crucial steps to turning your vision into reality. Having access to working capital will help you grow your new company at a faster pace. Some lenders define a “startup business loan” as funding for a business that has been operating for less than two years. However, it’s also commonly used for businesses that haven’t launched yet and are in the process of opening. Fortunately, we offer working capital for both situations, ensuring you have the support you need to get your business off the ground.

Business lines of credit made easy

Most entrepreneurs at the beginning stage of opening a business often rely on their own savings, credit cards, or funds from friends and family who invest in their venture. They then focus on building the business before seeking a loan. With Gloven Capital, we can offer startup financing if you have a strong credit history built over a few years, with multiple established tradelines. This funding can be provided in the form of installment loans or lines of credit.

To learn more about the benefits of startup business loans, feel free to read this article for further insights.

What Are The Best Ways To Use An Unsecured Business Loan?

A loan is meant to help grow your business, but how do you ensure it drives productivity and generates more revenue? The key is to invest the funds wisely. Here are the main assets companies typically purchase with business loans to boost productivity and ultimately increase profits:

1. Equipment Financing

Every business requires equipment to operate, whether it’s heavy machinery for construction or simply new office printers. Purchasing new equipment or upgrading old equipment often demands funds that businesses may not have readily available in their cash reserves. Gloven Capital offers business loans specifically designed for purchasing equipment, which can be used for a full upfront purchase or for leasing equipment. Another advantage of our business loans is that Gloven Capital will not place a lien on your new equipment.

2. Real Estate

Commercial real estate mortgages are typically not used until a business has been established for some time and is ready to expand by opening additional locations or acquiring more property. Real estate is one of the most valuable assets a business can own, so when it’s time to make a purchase, it’s important to ensure everything is in order. Just like residential real estate, a well-chosen property for your business can increase in value over time. Gloven Capital's loans can be used for the down payment or even to make property improvements.

Hiring New People

Starting or expanding a business often requires hiring more managers and employees, which typically demands cash flow. The decision on who you hire can significantly impact your business's success and overall ROI. At Gloven Capital, we understand the challenges entrepreneurs face when it comes to working capital. That’s why our business loans come with a streamlined process and can provide offers within 24 hours.

4. Marketing

While marketing may not be the primary reason to get a business loan, allocating funds towards it can yield significant returns for your business. Whether you hire an in-house marketing team or outsource to a third-party agency, it’s important to ensure your loan funds are invested wisely in a strategic marketing plan. Marketing is essential for business success, whether you're new or established. Thanks to technological advancements, advertising has become more cost-effective and impactful than ever before.

Funding For Any Reason

Pre-approved in 24 Hours

Easy process. Quick funding. Does not affect your credit score.

What Are Other Benefits Of Small Business Loans?

Getting startup business loan financing helps maintain a healthy cash flow, ensuring that you can pay not only your employees but also vendors and suppliers. Keeping these relationships in good standing is crucial for your business’s ongoing success, and consistent payments go a long way in achieving that.

Using a business loan and paying it off on time also helps build your company’s credit. A strong credit history increases your chances of securing future loans, whether for expansion or other needs. Additionally, as your business’s credit improves, you may be able to refinance your loan at more favorable terms, which can help you save money in the long run and support continued growth.

How Should You Ensure Your Loan Is Paid Off?

Repaying a business loan requires careful financial planning. You’ll need a budget that accounts for your overhead expenses while including your loan payments. Prioritizing early repayment can help free up your cash flow for other business needs. However, it’s also wise to have an exit strategy in place to ensure you can manage loan repayments even if unexpected challenges arise.

If you’re running a startup and exploring financing options, Gloven Capital can help you identify the right loan solution tailored to your needs and qualifications. It’s important to have a clear plan for how you’ll use the funds and how you’ll repay them.

At Gloven Capital, we’re here to guide you through the process and provide the financial support your business needs to grow. Reach out to us today to learn more about your options and take the next step toward achieving your business goals.