Blog - Velocity Lending Solutions

Best Startup Funding Sources in 2022

Posted by Kris de Leon In Startup 0 comment

Starting a business can be very exciting. Perhaps you just left your day job that you hated, and now you are finally pursuing your dreams of being your own boss. Or maybe you’ve been a self starter your whole life and that you enjoy the challenges that come with being an entrepreneur.

Regardless of your reason for starting a business, one fact that’s hard to overlook is that over 50% of new businesses fail within five years. Lack of funding is often cited as one of the top reasons for failure. Cash is king and is often the life blood of business.

You may have the greatest ideas, but without cash to pay for resources, it can be tough to bring your ideas to the market. The biggest question many entrepreneurs ask is – How do I fund my startup?

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Can You Get Funding Without Good Credit?

Posted by Kris de Leon In Business Funding, Personal Credit 0 comment

This is a question we get asked by business owners a lot.

“Can I get a business loan without credit?”

The answer to that, is it depends.

While credit often plays an important role in being able to obtain a business loan, it’s not the only thing that determines whether or not you can get one.

Fortunately, when you work with alternative lenders like us at Velocity Lending Solutions, you have access to multiple different types of lending options, instead of just a traditional loan like you would get at the bank.

These different options have different lending requirements, outside of just credit scores.

They look at the performance of your business, the revenue being generated, your monthly deposits, collateral, etc.

So maybe you have the credit but your business is generating a decent amount of revenue every month.

There are lending options available to you in that type of situation via alternative lenders that traditional banks and lenders just wouldn’t be able to provide.

This allows you to seize opportunities for growth in your business by having access to capital that you otherwise wouldn’t have had.

Get qualified for business funding today by visiting our funding platform ROK Financial here.

How Do Business Cash Advances Work?

Posted by Kris de Leon In Business Funding, Merchant Cash Advance 0 comment

When your business is in a financial bind, you might think that taking out a long-term loan is your only option.

But getting into a monthly payment with high interest rates that you’re stuck with for a long period of time isn’t always the best solution for a short-term problem.

A cash advance, or Business Cash Advance, is not a loan, so it’s easier to qualify for.

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Hard money VS. Private money

Posted by Kris de Leon In Real Estate Funding 0 comment

What’s the difference between hard money and private money?

This is a common question we get from investors all the time.

While both are very important to have in your real estate investing business, there are some key differences that you need to be aware of so you know when to use them.

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5 Types of Real Estate Loans

Posted by Kris de Leon In Real Estate Funding 0 comment

Let’s talk about the 5 most common types of Real Estate Loans for most deals.

Even though you may not personally use each one of these types of real estate loans in your career, they’re important to know because you can never have too many loan options available.

Let’s do a quick breakdown of each:

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How Access To Capital Can Save Your Business

Posted by Kris de Leon In Business Funding 0 comment

Why is access to capital so important for businesses?

There are many reasons you want access to capital for your business.

But in my personal opinion the most important reason is because it gives you what I call “Emergency Protection”.

Anything can happen in business.

Everything could be smooth sailing one day, and the next day the roof caves in or that really expensive piece of equipment you need to run your day-to-day operations just stopped working all of a sudden.

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5 crucial factors regarding business loans

Posted by Kris de Leon In Loans 0 comment

These are 5 factors you want to consider when evaluating a business loan offer.

This is important because there are a lot of different types of funding available to business owners, and not all of them are ideal for your specific business.

In fact, sometimes you could qualify for a loan with much better terms and conditions, and not even know.

So let’s go through 5 of the top factors you want to consider when evaluating a business loan offer.

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Why people get denied for a business loan

Posted by Kris de Leon In Loans 0 comment

Ever been denied for a business loan but wasn’t sure exactly why?

Unfortunately, there are a lot of reasons why a business loan application might be denied.

But the more important question to ask is, “What can I do to improve the odds of a successful loan application?”

Lenders want to make sure of three things essentially:

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What is Equipment Financing and how does it work?

Posted by Kris de Leon In Business Funding, Equipment Financing 0 comment

Let’s talk about how Equipment Financing works.

Equipment financing is the use of a loan or lease to purchase or borrow hard assets for your business.

Any tangible asset, other than property or a building, used in the operation of a business may be considered equipment.

For example, desks, computers, a pizza oven, a dental X-Ray machine, and construction equipment are all considered business equipment and can be either purchased with an equipment loan, or leased.

Because the equipment you are purchasing is considered collateral, this is a financing option that allows a small business owner to finance the purchase of equipment even if they don’t have other assets that could be used as collateral.

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The Best Business Loans For Bad Credit

Posted by Kris de Leon In Loans, Personal Credit 0 comment

Here are 4 best types of business loans if you have bad credit.

Believe it or not, you can get a business loan even if you have bad credit.

With that said, if you do have bad credit, we strongly recommend investing in a credit repair program that can improve your credit as soon as possible.

It doesn’t take as long as you might think and it will save you a lot of money in interest and fees in the long run.

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