small business loans in kansas

Small business owners can use loans to grow their business. You can use the funds however you wish.

Cover Expenses

Pay for any unexpected expenses that arise.

Invest in your business

Use the loan to grow your business however you wish.

Payroll

Use the loan to pay your employees.

Liquid

Keep the cash on hand for future expenses.

Equipment

Buy new equipment to grow your business.

Staff

Use the loan to hire new employees.

We Fund Fast

24-48 Hours

Loans up to

$10 Million

Google Rating

5 Stars

Delancey Street Can Help with small business loans in kansas

We're committed to building relationships and helping people all over the USA get access to the RIGHT loan for them. Regardless

Trusted

We're frequently interviewed by major media organizations.

Easy Application

Our app process is super easy. All it takes is one application, and we handle the rest for you.

Service

Service is key. You can ask for advice on ANYTHING and we'll bend over to help.

Experts

Many of our team members are former business owners, and understand your challenges.

Customized

We customize each loan for you, and to your unique specs. Everything is customized.

Universal

We help virtually any industry, any business, anywhere in the USA. It doesn't matter.

Nationwide

We fund business loans nationwide. It doesn't matter where you are, we can help you.

Honesty

This is crucial, and critical. We are 100% honest with our clients, and never strive for less.

Hear from people we’ve helped

“Delancey Street funded our e-commerce shop and really gave us the chance to grow our business significantly.”

- Leena, VP of Sales at Waist Karma

Steps Required to Quality for a Small Business Loan

If you’re in need of a small business loan and wondering where to start, you’ll find the information provided below helpful. When seeking small business loans in Kansas, the process can be less complicated if you’re prepared. Whether your goal is to obtain a loan through SBA or an online lender, there are requirements that you should know about.

Managing Your Credit Scores

In the current technological era, more people are aware of different services provided online. One of the most important websites that you can visit when seeking a small business loan is AnnualCreditReport.com since they will provide you with a free credit report every year. This is important because you’ll want to make sure the information being reported is accurate. In the event that errors are found, you can contact Experian, Equifax and TransUnion, which are the three credit bureaus that report consumer information. The goal is to increase your personal credit score, also known as a FICO score, as much as possible. The range for FICO scores is from 300 to 850.

As it relates to your business credit score, it’s somewhat different than your personal credit score. Dun & Bradstreet, Experian and Equifax are the three credit bureaus that report on business credit, and the scores range from 0 to 100. Since SBA and other loan products require an excellent business credit score, you’ll also want to make sure this report is error-free.

Understanding Lender Requirements

One of the best ways to make sure you have a strong application when applying for small business loans in Kansas is by getting an understanding of lender requirements so that you can meet or exceed them. You’ll find that some lenders are somewhat flexible, while others are more stringent when it comes to satisfying lending requirements. In addition to your credit score, your annual revenue and the number of years that you’ve been in business will factor into the lending decision.

There are a variety of different reasons why a loan might not be approved. For example, if you had a bankruptcy or payment delinquencies, then your loan request might not be declined. If you’re applying for an SBA loan, then your business can’t be a nonprofit organization, a life insurance company or a real estate investment firm. You might consider applying for a loan with online lenders since they tend to be more lenient. Just keep in mind that online loans might be easier and faster to obtain, but they are also more expensive in most cases.

Compiling Financial and Legal Documents

You probably won’t be surprised to find out that there’s a good amount of documents that must be provided when applying for traditional loans. Here are examples of the documents often requested: Articles of Incorporation, commercial leases, personal and business income tax returns, personal and business bank statements, balance sheet, income statement, your driver’s license and business licenses. Sometimes a resume is required in order to confirm your business experience and management skills. If you decide to go with an online lender, you’ll find the process to be more streamlined, which means fewer documents are required.

Creating a Business Plan

Sometimes there’s a tendency to either not create a business plan or create a business plan that isn’t comprehensive. When seeking a small business loan, it’s best to put as much effort into the development of your business plan as possible because it’s a document that will be requested by lenders and used as part of the decision making process.

Your business plan should include a company description, industry analysis, a list of your management team, an overview of products and services, an operations plan, a sales and marketing strategy and a SWOT analysis (strengths, weaknesses, opportunities and threats).

Offering Collateral

Whenever you receive a loan, there’s always a chance that something will happen that prevents you from paying back the loan. With this realization in mind, lenders often request collateral that might be in the form of inventory, real estate or equipment.