Ruskin Consulting Web Dev
“I like to take risks. That’s how I make money. But they are calculated risks.”
— Kevin O’Leary

Growing your business is extremely important in today’s global economy. If you stay complacent and passive for too long you will surely be taken over by your competitor. One way to grow your business is taking out a business loan to gain an edge over your competition. You obviously want to make sure you have a good business that is profitable, or soon to be profitable, before you take out any type of business loan.

What Do I Need to Qualify for A Business Loan?

The requirements for these business loans are much more lenient than a loan from a bank but with that comes a higher APR due to the increased risk. Therefore, if you are able to get a loan from a bank it is often preferred to do that instead of a business loan from a broker.

Requirements:

  • 1+ year time-in-business
  • $15,000+/month in revenue
  • FICO score above 600 (there are exceptions)
  • Cash flow positive or at least break-even

Terms:

  • Loans last between 1 – 4 years
  • Fixed monthly payments
  • Loans range from 25k – 500k
  • Rates range from 10% – 28% APR

Required Documents:

  • 2 prior years of Business Tax Returns
  • 1 prior year of your Personal Tax Return
  • 6 months of most recent company bank statements
  • Signed and completed Credit Application

It’s also important to note that most rates range around 15% APR. Also important is you can still receive a loan if you are a Sole-Prop and even if you once went bankrupt as long as it happened over 2 years ago.

What does Ruskin Consulting offer?

We our partnered with a variety brokers; we want to find you the best deal on your business loan. These loans vary from 10% APR to 28% APR. The requirements for these loans are minimal and are much easier to acquire than with a loan from a bank. You can get up to a 4 year term on these loans to help you fund your marketing efforts, open new locations, or purchase equipment and inventory. These loans can also be used to refinance your current loans at a lower rate. You may also use these loans as a line of credit so you only pay interest on what you withdraw. This is useful for fulfilling purchase orders.

Ruskin Consulting has good connections with banks, brokers, and credit card processors. The owner, Joshua, used to work for Citi Bank so he knows the in’s and out’s of loans and financing. Ruskin Consulting is connected with multiple brokers and can shop around for the best loan for your business. We can deliver you multiple offers and help you decide which loans are the best for you. Contact us today to see what kinds of loans you apply for.