A lump sum and a known schedule
A term loan delivers a set amount and a repayment schedule fixed at the start. That makes it good for projects: a second site, a build-out, a fleet addition, an acquisition. It is a weaker fit for ongoing gaps, where a line of credit adapts better. We do not publish terms, since they depend on the business. Funding ranges from $25,000 to $5,000,000 and can arrive in as little as 24 hours.
Projects that fit Oakland
- A second location in the East Bay. Wikipedia lists Fremont, Hayward, Berkeley, San Leandro and Alameda among nearby communities. A shop that has outgrown one site may open another in a neighboring city.
- Buying an existing business. Where the revenue is already visible, a defined price fits a term loan.
- Fleet or yard expansion. Port-linked firms may add trucks, trailers or storage. See trucking for the cash-flow picture.
- A commercial kitchen or studio build-out. One project, one payment.
The payment test
Look at your last twelve months of deposits and pick the lowest. Subtract rent, payroll and supplies. Is the payment comfortably inside what remains? For illustration only, a $120,000 project whose monthly payment is several thousand dollars is a poor match for a business that nets $3,000 in its slowest month. Choose a smaller amount or phase the project.
Choosing between products
| Need | Better fit |
|---|---|
| One defined project | Term loan |
| Recurring gaps | Line of credit |
| One machine | Equipment financing |
| Everyday costs | Working capital |
Three questions a reviewer will ask
Expect to explain what the money buys, how the business will earn it back and how the payment compares with slow-month deposits. An owner who can answer in three sentences has a stronger file than one who sends a long business plan. Write them down: "We are buying a second delivery truck for $68,000. It will cover the route we currently turn away. It should add roughly four runs a week."
Documents to have ready
About three months of business bank statements and a written quote or estimate for the project. No tax returns are required.
If the answers are shaky, that is useful information too: the project may need to be smaller, or it may belong to a different product such as revenue-based financing, where payments follow sales.
Phasing a large project
A big build-out does not have to be financed in a single step. A restaurant owner might fund the kitchen first, open, and add the patio once the first months of deposits show the new seats are filling. Phasing lowers the amount at risk, gives you real numbers for the next request and keeps the payment inside what the business already earns.
What to bring
We consider FICO scores of 500 and above, ask for about three months of business bank statements, require no tax returns, and use a soft credit pull on a five-minute application. Add a written quote for the project and a sentence about what it will earn. Sole proprietors can apply. Apply here.