Automatic fixed payments, which are daily, weekly or monthly.
Terms ranging from three months up to sixty months.
Funds can be deposited into your business bank account within hours after approval.
All you need are 3 important things to apply
If approved, our team will send out the approved funds to the business bank account. This can be as quick as a few minutes so be on the lookout. We pride ourselves in providing businesses with fast access to working capital.
Getting a small business loan does not have to be hard or time consuming. With Nebula Finance, steps to apply for a small business loan are very simple and fast. It all starts with filling out an application. Having the necessary documentation in hand will help facilitate the process. The most common documents needed are: your driver’s license or other form of identification, online access to your business bank account or three months of business bank statements, and your business bank account and routing number. Other documents and information may be required in some cases. Once we have received your application for a small business loan, we will proceed to review it. If approved, be on the lookout as we will send the working capital to the business bank account provided to us during the application process. Need more information? Check out our blog on how to get a small business loan for more answers to your questions.
Credit can be an important factor that alternative funders or traditional small business lender looks at when trying to qualify a business for a loan. However, it is so important to note that it is not the only determining factor that funders look at. Funders like to look at the overall performance of the small business which means looking at the business revenue, time in business, accounts receivables, and business credit history. For more information, please check out our how to get a small business loan with bad credit article.
Getting a secured or unsecured small business loan really depends on your current business needs and financial situation as well as the type of funder that is going to provide your business with the working capital. A secured business loan is when the lender takes an interest in the business’s collateral, which typically means that the lender will file a UCC financing statement as to the business collateral. For an unsecured business loan, the lender does not take an interest in the collateral and does not file a UCC financing statement. In general terms, an unsecured loan reduces possible risks for the borrower, however, often times will not offer such competitive terms. Secured loans, are generally a better option for many businesses as it helps reduce the cost of funds which can also help increase the amount of financing. Other factors to consider are that specific collateral (specific to those of real estate, inventory, or other specific assets) can help increase the financing even more; however, they can take much longer for the loan to be processed and approved. At Nebula Finance, our secured loans are a great option for small business financing as the application process is still quick and easy.
A UCC financing statement is a document filed with the secretary of state by the lender proving you financing. The UCC puts other lenders on notice that your lender has a security interest in your business collateral. The UCC will be filed in a state where your business operates or a state where the business has collateral. Once the small business loan has been paid in full, and there are no other outstanding loans with the lender (i.e. any renewal loans or another separate loan), the lender will terminate the UCC.
Most alternative funders require the business owners to provide information regarding certain time in business, business bank account, business revenue, and some sort of identification (i.e. driver’s license or passport). While this is not an exhaustive list, these are the most common requirements when applying for working capital.
A small business loan can be both short term as well as long term, it just depends on what the business needs. Nebula Finance offers business loan terms starting at 3 months and can range up to 60 months*. If the business needs quick access to working capital, but wants to pay the loan off quicker, then a small business loan can be short term. However, if a business is looking for longer repayment terms, then the business may qualify for a long term business loan, provided the funder offers longer term loans. There are lots of factors that lenders funders take into consideration when determining loan terms. The best thing to do is communicate your business needs with our team to find the best solution for you.
Nebula Finance offers a small business financing calculator that will allow you to adjust certain business information accordingly, such things as the working capital amount, your estimated credit score, and monthly sales. This will allow you to see what your small business may qualify for once you apply for small business financing; however, additional information may be required. To see what your business may qualify for, we recommend applying online through our website through your desktop, tablet, or mobile phone.
Click here for immediate access to the small business financing calculator.
Nebula Finance knows what it takes to grow a successful business, and we want to help. We want to provide all the financial resource possible for your business to succeed. After all, your success is our success. Whether it’s location expansion, payroll, marketing efforts, new equipment or technology, we have a financing solution to help.