Having access to working capital is one of the most important things a small business owner can have to grow their business. Working capital can help to alleviate the numerous challenges a small business owner may face. At Delancey Street, we can help small business owners in the Glendale area get up to $10 million in working capital that they need for their business. We provide all types of business with small business loans, hard money loans, merchant cash advances, invoice factoring, lines of credit, and more. We take the time to understand the unique needs of each business owner to help them get the right loan for their situation.

At Delancey Street, we have a fast approval process, and funding can take as little as two business days. You can use the funds in any way you want such as making payroll, buying new equipment, paying vendors, or increasing wholesale inventory. Our flexible repayment plans are tailored to accommodate the cash flow structure of your business. We even work with clients with bad credit, so there is no excuse. Apply with us today.

Fast Loans for Glendale-area Businesses
Getting a business loan can be an important moment in the life of your business, but the process of getting a loan is not easy. There are many steps you will have to take before a loan offer is made. If you are properly prepared, you can remove some of the difficult obstacles in the process.

Preparing for the Loan Process
If you are a business owner who needs working capital, you should first understand what you need, why you need it, and how much you need. For instance, you may think you need a loan when in fact invoice factoring may be a better option. You may think you need a $10 million loan, but can you make the monthly payments? Would a $1 million loan be enough to get what you need to meet your business goals? Once you have thought through these and other questions, then you can begin the process of understanding your creditworthiness and start collecting documents for your loan application.

Your Credit Report
One of the first documents any lender will look at is your credit report. A credit report helps lenders decide if they are going to lend you money, how much money they want to lend to you, or if there are other financing options available to you. Lending decisions are not completely based on your credit report, but it gives lenders an idea of how safe it is to place their money into your hands. In other words, the chance of you being approved for a loan with great terms improves if you have great credit.

Before you apply for a loan, get a free copy of your credit report. Check to see if there are any derogatory marks on your credit report such as late payments, collection accounts, or tax liens. If you have any of these derogatory marks and you feel they are a mistake, then you can have these mistakes corrected, which will improve your credit score. Your credit score will also improve when you pay down any of your existing debt.

Collect Your Documents
You will need to collect several documents and submit these documents to the lender along with your loan application. They will need to see the past 2-5 years of documents, which include:

• Personal and business tax returns
• Income statements
• Cash flow statements
• Balance sheets
• Business banking statements

Have these documents ready at the start of the application process so that you are not running around trying to find these documents after you submitted your application. Also, make sure you tell the lender exactly how much you need and how you plan on using the money. This can increase your chances of being approved for a loan.