One sum for one purpose
A term loan provides a defined amount for a defined purpose and is repaid on a set schedule. It suits a project with a known cost and a plan for the revenue. We fund $25,000 to $5,000,000, with funding in as little as 24 hours once the file is complete; terms are discussed after you apply and depend on your statements.
Projects that fit
Wikipedia describes Oxnard as a manufacturing center with agriculture, trade, defense, tourism and energy. Projects that grow out of that mix include a second packing or storage location, a showroom or kitchen build-out, a major inventory purchase ahead of a contract, or a staffed expansion.
Test the project before you apply
| Check | What to look for |
|---|---|
| Total cost | Fit-out, permits, deposits, stock, first months of payroll |
| Start of revenue | Payments start before revenue does |
| Margin after payment | If thin, scale the project down |
| Delay buffer | A six-week slip should not cause a missed payment |
For illustration only: a $110,000 build-out that adds $14,000 of monthly revenue at 35% margin brings $4,900 of margin before payment. Round numbers, not our terms.
When something else fits
If costs are small and recurring, see line of credit. If it is a machine, equipment financing. For general cushioning, working capital. County overview: Ventura County business funding.
Choosing the amount
Itemize the project, add a modest buffer for delay and stop. Rounding up by $30,000 means paying for that comfort for the whole period. An itemized sheet also makes your application easier to read.
What to leave out of the project cost
Keep running costs separate from the project. A build-out is a project; the rent and utilities of the existing location are not. Mixing them makes the amount larger than needed and obscures what the new revenue must cover. If part of the need is a general cushion, that is a job for working capital, which has a different shape. A clean split makes both easier to evaluate.
Questions a review will raise
- How do current deposits cover the existing costs, apart from the new project?
- What does the project cost in total, and who is the vendor or contractor?
- What does the business earn from it, and when?
A realistic timeline
Projects slip. Permits take longer, a contractor is booked, a supplier delays. Build your plan so that a four-to-six-week delay does not leave you paying for a space or machine that is not yet earning. If you can stage the project, start with the piece that produces revenue first and add the rest later. That reduces the sum you need at once and gives you real numbers for the next phase.
Applying
Bring about three months of business bank statements and your project breakdown. No tax returns are required. The application takes 5 minutes, uses a soft credit pull and considers FICO 500 and above. Sole proprietors can apply. Apply here.