BUSINESS LOANS
Learn About Your Options.
There are several options that are available to you, by using croft funding. We are aware that not all companies hold the same eligibility whether It be for a big or small loan that you need to help any financial issues. There are always issues when borrowing money for an investment or helping to cover overheads. You need to find a loan that is best suitable for your financials and the size of your company. By selecting the correct loan such as a term loan it means that you can borrow a sizeable sum of cash and pay this amount back over a certain period of time and the term of how you borrow it. By using the short-term loans can vary in the period of time you borrow for and giving you a flexibility on the elements of repayment.
For some businesses you need quick capital and access to it quickly and being able to manage your cash flow by using a line of credit is the most suitable option for your business long term. The flexibility of the credit is revolving meaning you can take money out up to $100,000 and this amount can replenish as you repay. You can use it on a particular basis and only pay interests on the funds that are used.
Deciding what loan type and financing is correct for your business we can help you along the process with some simple steps. Finding the type of loan that best suits your businesses characteristics without the hassle that would be given to you at a standard bank, there is a lack of paperwork. It is hassle free for us and for you!
TERM LOAN
The great thing about considering SBA Payback Protection Program (PPP) loans is that the fixed interest rate sits low at 1%, no additional fees or any penalties at prepayment. This is longer than your average short-term loan fixed at 5 years.
However, any applications made before June 2020 it is 2 years instead of five. The deferral period for this type of loan is applicable on the timing of the application for forgiveness on the PPP loan. The amount in which you can borrow tends to be based on the 2.5 times the average on your payroll or can depend on whether you operate in a certain industry such as accommodation and food which allows employers up to 3.5 times more.
But the maximums are set dependent on whether these are first- or second-time loans.
SBA PAYBACK PROTECTION PROGRAM (PPP)
The great thing about considering SBA Payback Protection Program (PPP) loans is that the fixed interest rate sits low at 1%, no additional fees or any penalties at prepayment. This is longer than your average short-term loan fixed at 5 years.
However, any applications made before June 2020 it is 2 years instead of five. The deferral period for this type of loan is applicable on the timing of the application for forgiveness on the PPP loan. The amount in which you can borrow tends to be based on the 2.5 times the average on your payroll or can depend on whether you operate in a certain industry such as accommodation and food which allows employers up to 3.5 times more.
But the maximums are set dependent on whether these are first- or second-time loans.
LINE OF CREDIT
The great thing about considering SBA Payback Protection Program (PPP) loans is that the fixed interest rate sits low at 1%, no additional fees or any penalties at prepayment. This is longer than your average short-term loan fixed at 5 years.
However, any applications made before June 2020 it is 2 years instead of five. The deferral period for this type of loan is applicable on the timing of the application for forgiveness on the PPP loan. The amount in which you can borrow tends to be based on the 2.5 times the average on your payroll or can depend on whether you operate in a certain industry such as accommodation and food which allows employers up to 3.5 times more.
But the maximums are set dependent on whether these are first- or second-time loans.
QUESTION & ANSWERS
Frequently Asked Questions
Term loans are very popular and tend to be the best when it comes to financing a small business.
If approved, they can be placed into your account on the same day. The repayment period usually ranges from between 2 and 5 years and repayment is based on a plan that is specific for you. This ensures that your loan is customized for your businesses needs and cash flow.
We use the latest in analytics and technology to understand the key points of your businesses data. By understanding your business, we provided convenient, manageable loans which can really strengthen or even save your small business.
We at Croft Funding pride ourselves on serving every client’s individual needs. From allocating funds to market your business to consolidating your debt, our professional team will take care of your individual needs. By working together, we will make sure you have access to the specific funding you require.
Of course, the requirements for each loan vary greatly depending on a number of factors. For information concerning your specific application, please click on and complete the “Apply Now” form. This will provide us with all the information needed to access your eligibility for a loan.
Depending on your specific eligibility and the current economic position of your business, your loan could be in your account as quickly as the same day as your approval. If not, your loan will be with you within at least one week.
The timetable for repaying your loan will depend on your choice of loan and the specific parameters that will be established. We have a wide range of options available and we will ensure that we design a loan that suits your specific needs best.
There are multiple different repayment methods available to you which depend on your specific proposal. We want to ensure that the repayment schedule takes into account the activity of your specific business to ensure that you are able to repay the loan. The repayment period usually ranges from between 2 and 5 years and repayment is based on a plan that is specific for you. This ensures that your loan is customized for your businesses needs and cash flow.
Of course, taking out a loan is a big commitment but our services aim to relieve your financial stress and not add to them. We are a responsible, ethical company that will work with you to make an agreement that you will be able to pay back. We encourage open communication at all stages of the process to ensure that we are aware of your company’s situation changes.