In order for Philadelphia businesses to thrive and grow in an increasingly competitive marketplace, they need access to working capital. Since traditional lenders are raising the requirements to access business loans, Approved Business Lending offers solutions tailored to the needs of businesses in all industries throughout Philadelphia. Our team works directly with business owners to understand their needs and create a funding solution to help them reach their goals. Approved Business Lending provides a wide range of working capital solutions designed specifically for Philadelphia businesses.
Merchant Cash Advances for Philadelphia Businesses
Many small businesses in Philadelphia, PA would benefit greatly from an extra source of working capital, but are not in a position to take out a traditional loan, or simply do not want to take on extra debt. Approved Business Lending offers a merchant cash advance program for businesses in Philadelphia. Our merchant cash advance program is an infusion of capital that does not place debt on the books, and isn’t dependent on your business credit ratings.
Our merchant cash advance program features:
- Funding up to $200,000
- Easy, automated payback terms
- Quick funds you can use however you like
- Minimal paperwork
- No loss of equity
- No closing costs
Unsecured Business Lines of Credit in Philadelphia, PA
Approved Business Lending offers unsecured lines of credit to businesses in the Philadelphia area. If your business generates at least $1 million in revenue annually, you could be approved for a line of credit up to $500,000. New and smaller businesses in Philadelphia with little to no revenue history can typically receive up to $50,000.
Our unsecured business lines of credit feature:
- Excellent rates and introductory offers
- No subprime loans, so you are guaranteed good rates if you qualify
- No collateral required if your financials and credit profile are favorable
- 1% – 5% over prime possible for larger credit lines
Term Loans for Philadelphia Businesses
Our lender is a leading online direct lender that works closely with partners to offer small business clients the best credit financing solutions for their operations.
This program offers a conventional, fixed-rate term loan in amounts between $20,000 and $500,000 and terms of 1 – 4 years. Our one-of-a-kind online application takes less than 10 minutes to complete, and funding can be made available for Philadelphia businesses in 1 – 3 business days.
This lending model allows us to serve clients spanning a wide variety of industries throughout Philadelphia, PA though there are some industries we know to be proven successes, such as:
- Auto Repair Services
- Manufacturing
- IT
- Machine Shops
- Funeral Homes
- Convenience Stores
- Distilleries and Breweries
- Child Care
- Restaurants and Bars
- Liquor Stores
- Gas Stations
- Dry Cleaners
- Agriculture/Farming
- Healthcare
- Pet Care
- CPAs
- Lawyers
- Engineers
- Hotels and Motels
- Other Personal/Professional Services
Restricted Industries
Our lender has certain industries and business types that they are unable to fund. Examples include: used car dealers, banks and other lending institutions, insurance carriers, money service businesses, adult entertainment, marijuana related businesses, non-profit entities, government entities, and online gambling services. They cannot lend to businesses based in North Dakota, South Dakota, or Nevada.
Underwriting Requirements
If you would like to explore our working capital solutions for Philadelphia businesses, contact Approved Business Lending today.
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