Elevate your business ambitions with our strategic Business Financing solutions. At Latter Financial Group, we understand that growth requires the right financial support. Our business financing options are crafted to empower entrepreneurs, providing flexible capital solutions to fuel expansion, invest in new opportunities, or manage day-to-day operations. With competitive rates, personalized guidance, and a streamlined application process, we are your dedicated partner in realizing your business’s full potential. Take the leap forward confidently, knowing that your financial success is our priority.
Unsecured Business Financing
Unsecured Business Financing is perfect for those who are looking to fund their startups but may not qualify for traditional business financing options such as SBA loans, a business line of credit, or a working capital loan. Made available to startups and low-revenue businesses, this option is also great for people looking for quick funding. This program offers 0% start-up rates with no doc requirements and funding up to $150,000.
- STATED INCOME: No income documentation is required to qualify. No bank statements, W2’s, pay stubs or tax returns needed.
- UNSECURED: This program is completely non-collateralized, but still personally guaranteed. This includes the business credit accounts.
- TYPICAL RESULTS: This is an aggregate program requiring multiple accounts to meet our pre-qualification. The total combined revolving credit lines can range from $20,000- $200,000 per applicant. If more funding is needed, you can have a credit partner apply such as a spouse or business partner to double or even triple the amount. This will require an additional EIN(s).
- TYPE OF FUNDING: The revolving lines of credit will come in the form of both personal and/or business credit cards. Each credit application submitted will require a hard credit inquiry. Most or all of the business credit card accounts will not report on personal credit history.
- INTEREST RATES: Most or all of the lines of credit carry a 0% introductory rate for anywhere from 15 to 24 months. This is stipulated in advance and you would need to accept the terms of each account. After the interest free period, the average blended rate is 5% and up depending on the risk factor.
- TIMING: The process takes about 3-5 weeks, plus or minus, depending on the situation.
- PRE-QUALIFYING: Your lowest credit score needs to be over 680. We will provide a conditional pre-qualification within 24 hours. *680+ FICO does not guarantee eligibility.
SUCCESS FEE: There are no upfront nor any recurring fees. Once the credit lines have been established, the one time success fee is due and can be paid with the new credit cards.
- SOFT CREDIT PULL: If you don’t have an account with a credit monitoring website where you can share your report with us, we can run credit without a hard inquiry.
Book of Business
Book-of-business financing is one of the absolute best long-term solutions for insurance agents who can’t secure funding through SBA or conventional type loan financing. This enables agents to borrow against their future receivables that stream from their book of business. With Book-of-business Financing your business doesn’t need to be perfect, nor do you need to supply the extensive documentation that lenders typically demand. You can get approved with just a quick review of your credit and renewable commission breakdown. Unlike conventional financing, you don’t need perfect credit to get funding. You can be approved even with challenging personal credit and scores as low as 450. Lenders are actually more interested in you supplying 3 solid references than they are with you having good credit.
Invoice Factoring (also called A/R Financing or Invoice Financing) is the process of purchasing commercial accounts receivable (invoices) from other businesses (B2B), government agencies (B2G) or (B2C) from your clients at a discount.
The business then uses the funds advanced by an invoice factoring to support their working capital needs.
Latter Financial Group offers two types of factoring lines:
- Notification and Non-Notification
- Notification Factoring: $20,000 – $5,000,000
Based more on your client’s debtors financial strength (aligned with more traditional factoring)
We send your clients customer a notification letter and verify invoices to confirm payment and invoice details. Higher credit lines, lower rates, and can give a combo offer with Flex if eligible.
- Non-Notification Factoring: $20,000 – $200,000
- Based on your client’s financial strength
- No communication with your customer
- Lower credit lines, no combo offers
If your business has receivables that you have not been able to get paid on as fast as you want, reach out to Latter Financial Group and leverage your business finances.
Small Business Loans (SBA)
Running a small business can be challenging especially when your budget is low and you are uncertain about the profit and loss. Well, in such cases the best option could be an SBA loan. The SBA loan program was basically created to help and make it easier for small businesses to get loans. It’s not a direct loan from SBA itself but it generally works with the lenders mostly banks. This helps to reduce the risk for both, the lenders and the borrowers. It allows a lender to offer some flexible terms and low-interest policies. SBA participates by giving grantee when you work with a lender and it’s one of the smartest ways to fund your company and grow your business.
There are different types of SBA loans that depends on your business needs,
conditions, the specific terms of the loan, and most important the length of the loan. So it’s good to analyze your business’s terms and conditions properly before you apply for SBA loan. In short SBA loans can be proved very beneficial for your small business because it has low-interest rates and you can get large amount of loan with repayment policy.
MCA's/Business Revenue Loans
A merchant cash advance (MCA) isn’t technically a loan, but rather a cash advance based upon sales of a business. A small business can apply for an MCA and have an advance deposited into its account fairly quickly.
Merchant cash advance providers evaluate risk and weight credit criteria differently than a banker. An MCA provider looks at the daily credit card receipts to determine if the business can pay back the funds in a timely manner. Basically, a small business “sells” a portion of future credit card sales to acquire capital immediately.
Purchase Order Financing
Purchase order financing is a term commonly used for trading businesses. Generally, it finds the solution for the companies that lack the cash flow for accessing the orders of customers. The purchase order finance companies pay your suppliers for the goods and deliver it to your customers, after the payment of customers the purchase order finance directly deduct their amount from the rest of the payment before sending it to you.
It’s very beneficial for those small businesses that lack the budget and cash slow, suppose if you have started a new business and you get a huge amount of orders at a time and you don’t have enough money to buy the materials and fulfill the orders. In such time purchase order financing can help you to fill customer orders. It funds you in advance to complete your job. The purchase order financing companies earn money by charging you a percentage of the amount that you are going to collect from your customer. The biggest benefit of purchase order financing is that it allows companies to accept big orders and jobs which give these companies to experience tremendous growth. So once you made trusted clients the purchase order financing would be your first priority to choose.