Reno Small Business Loans

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 Reno Small Business Loans

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

Whether you’re opening a new business or growing one, you need enough cash to pay for overhead expenses, marketing, and business improvements. At Delancey Street, we help with the funding you need to launch or build your business.

This article will explain the various types of loans that will help your small business flourish and the general qualifications used to determine eligibility.

3 Common Types of Business Loans

There are three common types of small business loans that you can apply for: a traditional loan, investors or private equity firms, and business lines of credit.

A Traditional Small Business Loan

The first type of loan you could get is a traditional one. The Small Business Administration, for example, provides grants that make it easy for borrowers to get the funds they need.

However, to qualify for this loan, you need to meet certain standards, like a steady employment history and a good credit rating.

The benefit of this type of loan is that you will pay low-interest rates and amortization is guaranteed.

The downside is that you will have to make a presentation in person to convince the lender that you have a solid business idea. Your business plan will be carefully scrutinized before it is approved.

What if you don’t fit this mold?

Since the criteria for loan qualification is so stringent, you may find that you do not meet all the standard qualifications. Your next best alternative is to consider private investors or a private equity firm.

Investors or Private Equity Loans

The second type of loan is getting funding from an investor or a private equity firm.

You will have to make an excellent presentation about your business plan to secure this type of loan. Then you will have to give up some equity of your business to the lender.

While this solution does resolve any problems with bad credit and cash flow, the biggest downside is that you will give up some control of your business.

Business Lines of Credit

A business line of credit means that you can draw upon money when you need it. This type of funding is easy to get if your business has a strong financial track record.

The advantage of a business line of credit is that it will help out your company if you have occasional cash flow problems. You can make immediate withdrawals when needed.

Additionally, you won’t have to repeatedly apply for funding because the underwriting is all done in the beginning.

This type of loan will work for your small business if your business has a solid track record and if you are comfortable with paying interest and all fees upfront, regardless of how much money you need to use.

5 Steps to Qualify for a Small Business Loan

In order to qualify for most small business loan, regardless of the type you choose, here are five general criteria you will be expected to meet.

1. Good credit will of course play a huge role, but it’s not the only qualification.

2. If your business is already established, it should show assets, more profits than losses, and a promising future.

3. If your business is new, you will have to present a solid business plan. You must create a formal, well-written and carefully documented business plan.

4. You may be asked to offer some collateral or to give up some equity in your company to reassure the lender that they are not taking a high risk.

5. After approval, you must stay in the good books of your lender, which means making agreed-upon payments by the stipulated deadlines.

How We Can Help

At Delancey Street, we do things a little differently. We understand how demanding it can be for a small business to get the capital they need to show a profit.

We work with each owner to understand their needs and offer fast approval. We can provide the money you need in as little as two days. In addition, we will work with you to create a realistic payment plan.

We also don’t put any restrictions on how you should use the money.

We can help you with merchant cash advances, business lines of credit, or a small business loan. Apply today, and find out how easy it is to start or grow your business