Contact

➤ LOCATION

333 Pearsall Ave

Cedarhurst, NY 11516

☎ CONTACT

Admin@harbourfundinggroup.com
(770) 769-1015

Apply Now.

Use the form below to contact us regarding your business financing needs. Please be as detailed as possible. Include your industry along with any specific document requests. To help us best service your inquiry, we recommend that you first describe the issue you’re having before telling us what you want to achieve. You may also email or call us to make an appointment.

SBA

SBA loans come in a variety of shapes and sizes and they provide a number of different paths for getting the cash you need and how that cash can be used. The most common of these is the SBA 7(a) loan. In addition they also offer microloans and loans meant specifically for real estate.

The SBA does not actually lend business owners money. Instead they back a certain percentage of each loan that is generated through a nationwide network of lenders. This backing absorbs a fair amount of risk for lenders, allowing them to offer great rates and extended terms.

With multiple types of SBA loans available, businesses can get almost any amount in financing they need. SBA microloans go up to $50,000 while the SBA 7(a) loans can be as high as $5.5 million. And the CDC/504 loans cover large purchases like real estate and machinery.

Factoring

Since invoice factoring is cash provided to you based on outstanding invoices, it is not a loan and will not add liabilities to your balance sheet. With invoice factoring you don’t have to wait 30- 90 days to get payment for services/goods delivered and you don’t have a monthly loan payment.

The total time it takes to access financing through invoice factoring is typically anywhere between 1-2 weeks. The easy application and underwriting processes will range between 5-10 days and once your invoices are approved, funds are usually provided with 24-48 hours.

Owners are free to choose which invoices they would like to factor and the frequency at which they would like to factor an invoice – there are no long-term contracts required. Factoring rates have seen a dramatic decrease over the past few years, with fees as low as 1.5%.

Term Loans
 

A term loan is a monetary loan that is repaid in regular payments over a set period of time. Term loans usually last between one and ten years, but may last as long as 30 years in some cases. A term loan usually involves an unfixed interest rate that will add additional balance to be repaid.

Asset Based Loans

An asset based loan (ABL) is a type of business financing that is secured by company assets. Most asset based loans are structured to work as revolving lines of credit. This structuring allows a company to borrow from assets on an ongoing basis to cover expenses or investments as needed.

Line of credit

A line of credit can be used for any business purpose and with a variety of repayment options that work well for the seasonal variations in your business cycle. This flexibility allows you to put your cash where you need it, when you need it without any restrictions.

Your credit score is not always a significant deciding factor for approval on a business line of credit. This makes this option a great alternative for those who require consistent access to funds, but who would not be approved for a traditional business loan.

Because funds can be accessed almost instantly, a line of credit can be used to get you out of a tight spot and keep your business moving. Even if used infrequently, a line of credit can act as your on-demand back up access to funds.

Revenue Based Financing

Revenue based financing has less stringent credit requirements and a very simplified application process that requires minimal documentation. Approval is based on your time in business and historical revenue, allowing for a much higher approval rate that traditional forms of financing.

Because revenue based financing is not a typical loan, there are no requirements for upfront collateral – meaning you do not need to have high assets to get approved. The main requirements for this type of financing are a good revenue history and a high potential for future sales.

While it can take weeks, or even months, for traditional loans to be processed, the simple application minimal documentation requirements for revenue based financing allow for approvals in as little as a few hours and cash can typically be available to you within a a day.