(800) 994-0684

info@superiorbusinesslending.com
65 W. Jackson Blvd., #226

Chicago, IL 60604

 

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How quickly can my deal be funded?

We can fund deals the same day as application if needed for those that qualify. Deal timeframe is typically from same day to three months with the timing being dependent on what type of financing the business is looking to obtain.

How do you know what financing we should apply for?

We have worked on countless deals throughout our history, so we have seen most every type of deal. With that being said, our experience is key in knowing what types of financing your business’ situation will have the best chance of successfully closing.

We have been turned down by our bank, will there be any options for our business?

We work with businesses that have bank financing and those that cannot get approved at their bank. We are able to deliver options that traditional bank financing is not able to provide, so reach out today to see what we can do for your business.

What underwriting items are needed?

All dependent on each deal and what type of financing is needed, but below are the usual items:

  • Line of credit application
  • Last three months business bank statements
  • Year-to-date income statement
  • Most recent balance sheet
  • Most recent Accounts Receivable and Accounts Payable aging report
  • Current debt schedule
  • Last 2 years tax returns

What are the biggest problems in working with some businesses?

One issue is when business owners and advisors to be honest with us about timing on financing. So many times, we start a process where we are told there is not a rush—only to have constant emails and calls to see where things are. After this goes on for a while, we have to ask if there is a much more urgent need than being portrayed. We understand wanting to portray that all is under control but that gets lost quickly once emails, calls and texts start coming at a rapid pace to check on the status of a deal.

The second issue we see a lot is businesses not being diligent on returning needed underwriting items. Diligence in returning underwriting items and timely communication is key in helping your business have the best chance of successful funding.

What are the next steps?

Please reach out at one of the ways below to get your deal on the right track: