What is a Business Line Of Credit (BLC)
A business line of credit (BLC) has more in common with a business credit card than with a business loan.
Like a business loan, an unsecured line of credit provides a business with access to money that can be used to address any business expense that arises. Unlike a business loan, however, there’s no lump-sum disbursement made at account opening that requires a subsequent monthly payment.
A business line of credit is subject to revenue, credit review (we accept bad credit in most cases) renewal and is also revolving, like a credit card: Interest begins to accumulate once you draw funds, and the amount you pay (except for interest) is again available to be borrowed as you pay down your balance. As with a credit card, the lender will set a limit on the amount you may borrow.
What Is a Commercial Real Estate Loan?
Commercial real estate loans are ideal for businesses looking to purchase, develop, or construct new property as well as current property. Businesses can apply for a commercial real estate loan/mortgage, which is secured by liens on the commercial property. As the name states, this is for commercial properties only and not for residential properties. The terms and rates differ from a traditional residential mortgage.
Uses for commercial real estate loans can vary, meaning businesses don’t have to acquire new property to apply. This loan can cover expenses such as refinancing or renovations on current business real estate in addition to covering new real estate property. Keep in mind, this type of financing is very different from a traditional residential mortgage that you would apply for when purchasing or refinancing residential property.
Loan Amount
Start at $75,000 and range up to $2 million
Loan Terms
Range from 5 years up to 20 years
Payment Frequency
Automatic monthly payments from an account on file
What is a Merchant Cash Advance?
A merchant cash advance (MCA) gives businesses fast access to working capital based on future credit card or other receivables so they can meet their business needs. This type of funding is an alternative form of financing that works by giving businesses upfront access to a lump sum in return for a portion of the future revenue receivables at a discounted price. This allows the payment timeline to be tailored to the flow of business sales.
To be approved for an MCA, certain criteria must be met. Important qualifying factors are that the business must accept credit card payments or have other receivables.
At Toroide, applying for an MCA is fast and convenient. You can complete the application for your business through our online portal in just a few minutes. Our merchant cash advance amounts start at $5,000. and range up to $4,000,000.00
What Are Asset-Based Loans?
Asset-based loans give small businesses access to working capital through an agreement that’s secured by business collateral such as inventory, accounts receivable, equipment, or other property owned by the borrower. This means the lender is collateralized with an asset of the business. It’s important to note that the more liquid the business asset, the less risky the loan. An asset-based loan is a secured business loan that can be less risky and have bigger benefits than unsecured loans, including potentially lower rates.
Since businesses an asset-based loan is secured through collateral, lenders base their funds on the value of the secured assets. The financing available may vary depending on the type of collateral the business has.
Loan Amount
Start at $50,000 and range up to $10 million
Loan Terms
Range from 6 months up to 36 months
Payment Frequency
Daily, weekly, or monthly fixed payments
What is a Bridge Loan
A bridge loan is a short-term loan that helps bridge the gap between a business’s current need for financing while they wait for a more long-term solution to be secured.
This is ideal for businesses who need to leverage funding to buy real estate, expand operations, or manage cash flow, among other reasons.
We understand that sometimes the loan process can take time and securing long-term financing can be an extensive process. That’s why at Toroide, we work with our network of partners to provide small businesses with simple and transparent bridge loans, giving them access to the capital they need fast.
Our bridge loans start at $5,001 and range up to $10 millions. Payment options are super flexible with automatic daily, weekly, or monthly payments.
