One of the more stressful aspects of running a small business in Vancouver involves properly managing money. Even when you take every step possible to manage your business’s budget properly, you may still not have cash available to get through a slow period or to take advantage of a great opportunity when it presents itself. Regardless of why you need access to more money for your business, Delancey Street is your trusted source for up to $2 million of small business financing. We provide loans and lines of credit to all types of small businesses in Vancouver, and we can adjust terms to meet your company’s unique needs. By applying for financing through Delancey Street, you may enjoy:

A fast review of your loan request
Rapid funding for approved loan requests
Financing options available for bad credit scenarios
No limits regarding your use of the funds
Payment options tailored to fit your needs

Financing Without Delay
At Delancey Street, we often can fund approved financing requests within two business days. We have created a streamlined lending process that takes the stress and time out of a traditional small business loan experience. Our lending team understands the urgency of your situation, and we will work diligently to provide approved applicants with a written loan quote soon.

Preparing for the Experience
As simple and easy as our small business financing experience is, it is helpful to prepare yourself for the loan process. This is an efficient process that begins by determining your precise need for finding. By taking this step, you can ensure that you apply for financing that meets all of your needs. You also should review your credit scores and begin preparing a loan submission package for us to review.

Why Credit Scores Matter
Small business lenders often review credit scores for the business and for the owner. Your credit report and scores show a lender how well you have managed your money up to this point. Lower credit scores indicate a greater risk to the lender, and higher credit scores indicate a reduced risk. This is one reason why loan amounts may be lower and interest rates may be higher if you have bad credit scores.

Increasing Your Credit Scores
Because credit ratings impact the financing terms that may be available to you, spending time improving your credit rating may be beneficial if time allows. Some of the primary reasons why your credit rating may be lower than desired include erroneous information being reported, high debt balances and the age of your accounts. Review your business and personal credit reports to determine if you need to correct incorrect information, and contact creditors and credit bureaus as necessary. Reducing debt balances over the next few months may also help you to raise credit scores. In addition, keep in mind that older accounts are more favorable than newer accounts. If you intend to close an account, choosing a newer account may be a smart option in some cases.

The Need for a Financial Plan
Small business lenders usually want to know what your plans for the borrowed money are. You can prepare a detailed written plan outlining how you intend to use the money. An alternative is to provide current and projected future financial statements to show how the borrowed money will help your business.

Prepare a Financing Package
In addition to filling out a small business loan application, you typically will need to submit numerous financial documents as part of the loan process. If you want to proceed through the loan process quickly, consider getting a head start on this aspect of the process. You can pull together tax returns and bank statements for the business and for you personally. You can also update your business income and expense statement so that it is as current and accurate as possible.

Review Your Loan Quote
Approved applicants will receive a written loan estimate from Delancey Street promptly. This document will indicate all terms of the loan. When you agree to the loan terms, we will initiate the funding stage of the loan process.