DELANCEY STREET

Here's Who We Are

We're a Direct Lender

We’re a direct lender who funds small business owners nationwide, regardless of industry, credit, or time in business. We fund it all. GUARANTEED.

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We Provide Multiple Options

We have a lot of different financing options available to our clients. Regardless of your situation, we’ll have a solution for you.

Fast Approval

Our application process is completely online. You can get funds in your bank account in literally 24 hours.

The Working Capital You Need In 24 Hours.

We get you funding. It's that simple. Regardless of credit, income, or time in business - we'll fund you.

Apply

Use our online form or call toll-free anytime to get started. There's no cost, and the application takes only three minutes.

Approval

Receive application approval in as little as 24 hours. There is no credit check required.

Receive Funds

Review and return your signed agreement and get your money in as little as 24 hours.

Recent Funded Business

100K Term Loan

Ambulance Service

Our client bought a new ambulance.
2019 - June
55K Advance

Truck Funded

Our client used the funds to hire new team members.
2019 - February
85K Term Loan

Restaurant Funded

Our client used the funds for restaurant equipment.
2019 - May

Get a Decision in as Little As 30 Seconds

We’re Fast. We Help Regardless of Credit. WE HAVE A SOLUTION FOR YOU.

Apply Online

We have a completely online application process, which is simple and easy.

Get Offers

We'll match you with the best loan offers we have that are financially responsible.

Get Funded Quickly

We'll fund you the same day you accept our offer.

How Delancey Street Works

Fill Out Our Application

Answer basic questions about yourself and fill out our entirely online application. Each loan has its own online process.

Meet Your Concierge

We'll pair you with an experienced Delancey Street specialist who will reach out to you, and understand your needs. We'll try to determine which financial product is right for you.

Compare Our Loan Offers

We give you a few different loan offers based on your scenario and what options you qualify for.

Choose Your Loan

Once you've chosen a loan that works for you, we finalize it and start getting the documents needed.

Get Funded

Once we get all of the documents back, we'll get you funded ASAP.

We Help You Grow

After you get funded, your Delancey Street concierge specialist will keep in touch to make sure you're happy and doing well.

Business Loans

Get business loans ranging from 3 months to 18 months
No credit score requirement, we have a program for everyone
We can fund up to $5 million in virtually 24 hours

High Risk Business Loans

High Risk Business Loans Are Possible with Delancey Street

High risk business loans are typically business loans which are offered to businesses who have poor credit or no credit. Because of this, lenders look at the loan as a very high risk loan – and sometimes will reject it. The loan is based on the business’s credit history, negative marks on their credit report, or other issues which may impact the lender’s decision to offer the loan. Generally, high risk loans get smaller loan amounts at higher interest rates.

What makes a borrower a high risk?
High risk business owners have some combination of low credit score, recent issues with their credit history, no business credit, poor cash flow, industry volatility, etc. For example, there are many industries that are considered high risk, such as the trucking industry, or home improvement, etc. Generally, a business score below 650 is considered to be high risk. If the business is less than two years old, this is another factor which makes the business high risk. Any business owner who has any combination of these issues should consider speaking to us in order to get qualified for a loan.
If you’ve considered opening a small business, you’ve taken a big first step. Small business owners enjoy the freedom of doing something they love for a living. Providing a valuable service or product is a noble effort. A small business loan is often one of the first tasks in establishing or growing your business. This informative article will provide you with information on how to obtain a small business loan. Some available options will also be reviewed.

Creating a business plan is essential:
If you’ve already created a business plan, you’re ahead of the game. If so, have a peer or expert in the business review it for you. When applying for a loan, you’ll have to be able to clearly articulate how the plan will play out. It’s also good to provide some visual representations to bring your ideas alive. If you have yet to create a plan, there’s a wealth of resources available to help. Online courses, videos, books, and even courses at local libraries are often resources that are available. If writing isn’t your forte, there are consultants and professional writers that can help. It’s important that you specify exactly what you’re looking for to avoid confusion and additional work. Once you have your business plan, you’ll want to prepare a presentation and anticipate any questions that may arise. Lenders will often go over the plan with a fine tooth comb. Being prepared can make the difference between an approval and a denial.

Reviewing your credit is strongly recommended:
If you’ve ever applied for a mortgage, you know firsthand how intense the loan process can be. The lender is taking a significant risk by investing in an idea and you as a business owner. They must feel confident that you’ll be able to perform up to expectations to eventually make a profit. Your personal credit will be one of the first things they’ll review. While your credit isn’t the sole indicator as to how you’ll perform, it’s a strong indicator as to how you’ll handle the business’s finances. If you have credit issues, you’ll want to fix them before applying. If you’re unable to fix them, you should consider hiring a credit repair company to help. While there are options available for those with poor credit, it’s always to your advantage to fix it to open up more options.

Small Business Administration loans are a great tool for conventional borrowers:
The SBA provides economic opportunities for many people every day. Their small business loans are the backbone of many companies. They also provide grants and incentives for those who are in need and demographically challenged. The SBA loan process is a thorough and conventional one, however. For those who have strong credit scores, assets, and a solid business plan, these are great loans. For those who are credit challenged without significant compensating factors may find difficulty in obtaining an SBA loan. Banks provide these loans and are eager to do so because they’re backed by the federal government. This significantly reduces the risk to the lender. Conventional underwriting guidelines must be observed and tend to be more rigid than with other types of loans.

For those who are credit challenged:
If you have poor credit, there are still other options available. Venture capital and private equity firms have grown in recent years. They’ll invest a significant amount of money into your business for partial ownership and control. This means that the business plan is a key factor in getting approved. It’s almost certain that they’ll require an in-person and thorough interview. Often times, this is with an entire panel of executives who’ll discuss your plans. They’ll ask lots of questions and expect good answers. Confidence is half the battle in getting approved with these firms. Also, a contract will outline the terms of the agreement, so you’ll need to hire a lawyer to review it. Since partial control is assumed, the owner must occasionally yield to the investor’s wishes, whether they agree with them or not. This is a great option for those who are willing to give a little in hopes of big returns.

Options for existing businesses:
If you’ve already opened your business but need funding, you’ll have even more options. A business line of credit is a popular choice for businesses that experience cyclical slumps or cash flow issues. The underwriting is conducted prior to approval and the owner can withdraw funds in a hurry. This can be a huge benefit for many small businesses, where events can happen quickly. The interest rates and terms also tend to be better than other alternative loan products. However, the entire interest amount must be paid even if the money is never used. Regardless, the convenience and cost savings factor tends to outweigh the interest charges for most small business owners.

Invoice factoring is a relatively new concept in business lending. With these loans, the outstanding receivables balance is used to secure the loan and determine the loan amount. The company will typically have to provide some evidence of a good receivables history. However, the underwriting times and quick funding provides a significant advantage over a conventional loan. Since the business’s credit is used to qualify, it also takes some stress off of the owner’s shoulders.
Merchant credit advances are very similar to invoice factoring. A cash advance is provided on processed credit transactions. While this is a convenient option that has very little underwriting criteria, it can be one of the more expensive options. The loan amount and fees are simply reduced from the amount that is paid out to the merchant normally.

Alternatives to high risk business loans
Many traditional lenders, like banks, don’t lend to businesses with little or no credit. There’s a number of alternative lenders that can fill the void and help you. For example, you could qualify for a secured loan where you offer business inventory, equipment, auto titles, or other forms of property as collateral. This secures the loan in the event you default on the business loan.

Another way of getting a loan is getting a co-signer. For example, some banks and traditional lenders may approve your business if you have a co-signor who has good credit which will guarantee your loan. If your friend, or family member, believes in you and your business – they can co-sign the loan and take the risk.

Delancey Street is here for you

Our team is available always to help you. Regardless of whether you need advice, or just want to run a scenario by us. We take pride in the fact our team loves working with our clients - and truly cares about their financial and mental wellbeing.

"Super fast, and super courteous, Delancey Street is amazing"
Leo
$125,000 Small Business Loan
"Thanks for funding me in literally 24 hours"
Jason
$35,000 Lawsuit Advance
"Great choice for first time fix and flippers"
Mary
$250,000 Hard money Loan

In The Media

Delancey Street CEO discusses ways to reward employees
Delancey Street CEO discusses the benefits of franchising on Forbes.
Delancey Street CEO discusses management on AMEX.
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