small business loans in ks

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 ks

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

Easy Steps to Qualify for a Small Business Loan

Embarking upon the journey of applying for a small business loan can be somewhat intimidating. One of the first things that you probably want to know is what you need to qualify, which is a great question that’s worth exploring. The information below provides an answer to that question. Whether your preference is pursuing a loan online, through the SBA or from a bank, there are ways to simplify the process and increase your chances of success. This applies to small business loans in KS and any other state.

What’s Your Credit Score?

One of most important aspects of getting approved for a business loan is your personal and business credit score. If your business doesn’t have a history because it’s a start-up, then the focus will be on your personal credit score, which can range from 300 to 850, with the higher number demonstrating a strong credit history. Your credit score, also called a FICO score, is determined based on many different factors, but the most important is your payment history because it’s 35% of your score. The other factors include the amount of debt you have, the kind of credit you have, the amount of time you’ve had credit and recent credit inquiries.

Interestingly, the Federal Trade Commission reported in 2012 that a significant number of consumers find errors on their credit report and by removing those errors, 20% of consumers saw a increase in their credit score. In order to start the process of assessing and resolving any issues, you can visit AnnualCreditReport.com, a company that provides a free copy of your report each year. If you identify any errors, you can contact the three credit bureaus (Experian, TransUnion and Equifax) to have them removed. You should also be aware that the range for business credit scores is 0 to 100 and the three credit bureaus used for that report are Dun & Bradstreet, Experian and Equifax.

What Are the Minimum Lender Requirements?

It’s always best to know what you’re dealing with before jumping into a endeavor and this applies to the process of applying for small business loans in KS. One of the first things that you’ll want to do is identify the minimum lender requirements and then make sure you either meet or exceed them. While each lender is different, most of them have criteria pertaining to your annual revenue, credit scores and years in business. But that’s not all, they also examine whether you’ve had any past delinquencies or bankruptcies.

If you’ve been late paying a student loan and you want to get a loan that’s backed by the SBA, then you’re likely to run into a problem. The SBA tends to have strict criteria, including an ineligible business lists that includes companies in real estate, insurance and banking. But don’t be dismayed, there are other options, such as online lenders who tend to be more flexible and can also fund loans faster than most traditional lenders. Just keep in mind that you might end up paying more for an online loan product.

Do You Have All of the Required Documents?

One of the best things that you can do when trying to obtain a small business loan is compile all of the required documents. You can essentially prepare everything that the lender needs in advance so that you don’t have to scramble at the last minute to figure out if you have what’s requested. Here are the documents that you may need to provide: income tax returns, Articles of Incorporation, your driver’s license, business licenses, income statement, balance sheet, bank statements, commercial leases and your resume. Your resume should communicate your business and management experience.

If you’re feeling a little intimidated by the amount of documentation that you might need to supply, then perhaps you’d be better off going with an online lender since they tend to offer a more streamlined application process. If you have good credit, then they may also offer loan products that are comparable to traditional loans.

Do You Have a Solid Business Plan?

Perhaps you’ve already developed a business plan with financial projections that spell out how you intend to increase your profits. If not, then here are the elements that you should include in your business plan: Business overview, industry analysis, management team, products and services, sales and marketing strategy, operations plan and SWOT analysis (strengths, weaknesses, opportunities and threats). Your business plan is a great way to develop a strong narrative that demonstrates your plan for success.

Do You Have Collateral?

There’s a good chance that qualifying for a small business loan will required to provide collateral for security. It’s basically a back up plan for lenders should your business fail and you are unable to repay the loan. If you don’t have collateral, then you should consider an unsecured business loan.