A Merchant Cash Advance is not a loan, but rather an advance based upon the future revenues or credit card sales of a business. This financial product is ideal for businesses with a high volume of credit card transactions and the need for quick access to funding. It offers the flexibility of repayment, which fluctuates with the business's sales volume, providing a manageable repayment system during varying economic conditions.
A term loan is a traditional loan instrument that provides a lump sum of capital upfront, which the borrower repays with interest over a predetermined period or 'term'. These loans are typically categorized by their duration: short-term (usually 1-2 years), medium-term (2-5 years), and long-term (5 years or more). Interest rates can be fixed or variable. Term loans are often used for specific investment purposes within a business, such as purchasing equipment, renovating facilities, or expanding operations. The repayment schedule is usually monthly or quarterly and is determined at the outset, which provides businesses with a predictable payment structure.
Small Business Administration (SBA) loans are government-backed loans that provide long-term financing for small businesses in the United States. These loans are renowned for their favorable terms, including lower down payments, flexible overhead requirements, and no collateral needed for some loans. SBA loans can be used for a wide range of purposes, such as working capital, purchasing equipment, financing inventory, and even acquiring real estate. Chiles Capital facilitates these loans by working with the SBA and its lending partners to offer such beneficial terms, focusing on small businesses that may not meet the borrowing criteria of traditional banks.
A line of credit is a flexible loan from a bank or financial institution. Similar to a credit card, it provides a business with access to funds that can be used and repaid as needed. A credit limit is set, and the business can tap into the line of credit as needed, only paying interest on the amount borrowed. This makes lines of credit ideal for managing a company's cash flow and unexpected expenses. They often serve as a safety net for businesses to have capital available when needed without the need to take out a new loan. Interest rates on lines of credit are typically variable, and the funds can be drawn upon repeatedly as long as the account remains in good standing and below its limit.
Our loan options are based on the value of your property, not on your creditworthiness. This means that even if you have a less-than-perfect credit score, you can still secure the funds you need. Our focus is on providing short-term solutions to meet your immediate financial needs. With our property-based lending approach, you can access the funds you require quickly and easily, without the hassle of a traditional credit check. We understand that life's unexpected expenses can arise, and we are here to help you navigate through them. Trust in our property-based lending solutions to provide you with the short-term financial support you need, regardless of your credit history.