Too often, small businesses are on the edge of a major break through but lack the financial resources to push the dream to reality. Allied-SCSS wants to be “Your Partner in Success” so we have established strategic relationships specifically around accessing capital for small businesses. Here are a few of the programs we currently have available, however there are other options outside of these that can be explored. Once you’ve identified how you want to proceed simply complete our Access to Capital Assessment.

Unsecured Business Credit Lines Program:

Requirements 

  • Minimum 660 FICO
  • 5 years established credit file
  • 3 currently open tradelines
  • At least 1 tradeline with a $3,500 High Credit Limit
  • 40% or less credit utilization ratio (ideally 30%)
  • EIN for your business

Rewards

  • Funding amount up to $200K
  • No business Taxreturns required
  • Newly established business can qualify
  • Quick funding typically 21 to 28 days
  • Only pay interest on the amount that you use
  • Access to capital that can be used for any business expense
  • Separateyour business and personal credit profiles
  • Establish and build your business credit

Realities

  • $20 fee to allow access to credit profile
  • Funds are issued on business credit card
  • May require multiple accounts to reach desired funding request
  • Fee of 14% based on total funding received

Commercial Real Estate Program:

Requirements 

  • Minimum 680 FICO
  • Personal Financial Statement (will be provided)
  • 2 years of both business and personal tax returns
  • Recent Appraisal or Description of Property
  • Proof of Funds for Down Payment
  • Business Plan (only if it will be Owner Occupied)

Rewards

  • Funding amount between $250K and $4Million
  • Tax Advantages of Owning the Property
  • Automatically Increases Businesses Value by Acquiring an Asset
  • Space can be Rented out as long as 51%  of the Space is Owner Occupied

Realities

  • Typically Requires 20% Down Payment
  • Borrower may have to pay out of pocket for property appraisals, inspections, permits, zoning requirements, etc.
  • Land and Gas Stations are not Eligible for this Program

 

Equipment Financing Program:

Requirements 

  • Minimum 675 FICO
  • Application (will be provided)
  • Invoice form Vendor or description of equipment
  • 3 months bank statements
  • 2 years or more in business

Rewards

  • Funding from $40K to $100K
  • Limited Documentation required
  • Equipment necessary for any business purpose can be funded (Vehicles on a case by case basis only)
  • Funding in 14 to 20 business days

Realities

  • Not a program for start-ups
  • Full Financials (tax returns, etc.) required for over $100K in funding

 

Fix and Flip Program:

Requirements 

  • Minimum 600 FICO
  • Purchase and Sales Agreement
  • Application (will be provided)
  • 2 years tax returns
  • 4506 Tax Return Form
  • Personal Financial Statement (will be provided)
  • 2 months most recent bank statements
  • Borrower’s authorization form (will be provided)
  • Appraisal authorization form (will be provided)
  • Rehab list of work needed/cost breakdown (if necessary)
  • Invoice form Vendor or description of equipment
  • 3 months bank statements
  • 2 years or more in business

Rewards

  • Funding from $50K to $2.5M
  • Term sheets issued 48 hours after complete package submitted
  • Quick transaction time between 20 to 30 days with all docs submitted
  • Loan issued to business entity with personal guarantee by borrower

Realities

  • Rates start at 9.99%
  • Borrower is responsible for obtaining title
  • Non Owner Occupied (1 to 4 Family residential) Properties Only
  • Most programs require borrower to have at least 20% for total down payment
  • LTV
    • Up to 85% for purchase
    • Up to 75% ARV (After Repair Value)
    • Up to 65% for refinance
    • Up to 50% for cashout