Our Business Term Loans offer a different range of funding and longer terms than our Working Capital Loans. They come with higher approval standards, though they remain more attainable than traditional bank financing for small businesses. Term loan typically range from 2-5 years and can be as low as 8% APR.
We’ll approve you for the maximum loan for which your business qualifies. Take as much of that as you can actively use now – and know that the additional funding is there if and when you need it.
You also have the ability to pay in excess funds to reduce your balance, or request an additional draw if you need the extra funding – as you need. Once again, you will only pay fees on the money you have actually accessed.
This allows you the freedom to manage your funding as you wish – and this flexibility means that you can react to changes in your business circumstances as they occur. You’ll have the comfort of knowing that Prime is always available to provide you with what you need, when you need it.
SBA loans can be ideal for small and medium sized businesses with terms up to 30 years and rates as low as 6%. However, the application process can often take 2 weeks up to 3 months. The SBA Bridge Loan through Prime Merchant Funding was created specifically for borrowers like you in mind to help with your short-term needs while you wait for approval from the SBA.
Depending on which SBA loan you are applying for, approvals can often take anywhere from one month to six months.
If you have already applied for an SBA loan, or if you are considering an SBA loan, we want to help support throughout the process. The SBA Bridge Loan program through Prime Merchant Funding was designed to specifically address your short-term financing needs while you wait for your approval.
With a low cost of funds, this product also features competitive early pay off discounts and no prepayment penalties if you wish to pay the loan off within the first 6 months.
And, if the SBA does not approve your application, you won’t be stuck trying to figure out your options. The SBA Bridge Loan product through Prime Merchant Funding is set up to be a safety net with a 12-month term if you wish you continue using our funds through the entirety of that period.
Are you looking for more flexibility and control over the cost of your loan? Need cash for 6 to 18 months, not multiple years? Are you unsure about exactly how much you need or when you'll need it? Rates can be as low as 15 cents on the dollar.
Working capital is required by every business to pay its various operating expenses. Such business expenses would include but not be limited to taxes, payroll, workman’s comp, vendors and other overhead for its day-to-day operations.
Even an otherwise strong business can be short on working capital due to their customers’ slow invoice payments. For those business owners, a working capital loan can be a life-saver.
In other cases, businesses may have the opportunity to grow, perhaps by upgrading facilities, expanding employee training, repairing or replacing under-performing equipment, etc. Those situations require cash that may not be sitting in your bank account. A working capital loan lets you achieve those improvements and cover the cost over time.
At Mulligan Funding all of our working capital financing options are fast and simple. You can get an approval within hours and receive funds within days. We have a variety of lending programs to meet your business needs. Small business working capital loans can be the perfect solution!
Are you unhappy with your current working capital business loan payment? Is your current lender not able to restructure your payments to accommodate your business' needs from the impact of COVID-19? We may be able to help.
COVID-19 has affected businesses large and small. As a small business ourselves, we understand the challenges created as a result of not only having to shut down, but of downward adjustments to revenue streams and new, unexpected expenses related to social distancing regulations.
Knowing that businesses may not be operating at 100%, but payments to your lender still continue with some lenders unable to adjust those payments for you, the Recovery Assistance Program Loan through Mulligan Funding was created specifically for this need.
If your daily or weekly working capital loan payments are higher than you would like given these challenges, the Recovery Assistance Program Loan may be a great fit for your business. Talk with our Loan Advisors today to see how we may be able to refinance your current loan to allow for more manageable payments.
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Thu | 09:00 am – 08:00 pm | |
Fri | 09:00 am – 08:00 pm | |
Sat | By Appointment | |
Sun | Closed |