One sum, one project
A term loan provides a defined amount for a defined purpose, repaid on a set schedule. We fund $25,000 to $5,000,000, with funding in as little as 24 hours once the file is complete; specific terms depend on your statements and are shared after you apply.
Projects that fit the local economy
Wikipedia describes the city as a major center of the logistics industry in Southern California, helped by two interstate highways, Ontario International Airport and large tracts of former farmland in the south, with roughly seven square miles around Milliken Avenue holding massive distribution centers and smaller manufacturers. Local businesses that grow with that activity often plan expansions: a second warehouse unit, a showroom or kitchen at one of the shopping centers, a fleet addition, a bulk inventory purchase ahead of a contract.
The pre-application worksheet
| Line | What goes in it |
|---|---|
| Project cost | Fit-out, permits, deposits, stock, equipment |
| First revenue date | When the project first earns money |
| Payment before revenue | How many months of payment before the project earns |
| Margin after payment | What is left once the payment is made |
| Delay cushion | Six weeks of slip without a missed payment |
For illustration only: a $100,000 fit-out that adds $15,000 of monthly revenue at 35% margin brings $5,250 of margin before payment. Round numbers, not our terms.
Keeping the amount honest
Itemize the project and add a modest buffer. Rounding up by $30,000 means paying for that comfort for the whole period. Keep running costs out of the project figure; a general cushion is a job for working capital.
Other shapes
Repeated small costs fit a line of credit; a machine fits equipment financing. Regional pages: San Bernardino County and Inland Empire.
What can go wrong with a project loan
The usual failures are not dramatic. A permit slips and rent starts before revenue. A contractor goes over budget by 10% and the buffer is gone. A contract is delayed and the new machine sits idle. Each can be survived if the plan includes a margin for them. Ask yourself what happens if revenue starts two months late, and if the answer is a missed payment, reduce the scope or stage the work.
Documents worth preparing
- Vendor or contractor quotes.
- About three months of business bank statements.
- A one-page summary of project cost, start date and expected revenue.
Matching the schedule to the revenue
If the project earns seasonally, ask whether the payment schedule suits that. A fit-out that opens before a slow quarter will carry payments with little revenue behind them. Where possible, time the opening so that the first payments land in a stronger period, or keep a cushion for the weak one.
Applying
Bring about three months of business bank statements and your project breakdown. No tax returns are required. The application takes 5 minutes with a soft credit pull; FICO 500 and above is considered and sole proprietors can apply. Apply here.