Small Business Loans

Learn about financing options for your business.

Find the right small business loan with Nextlvlfunding.

Nextlvlfunding extends financial support through small business loans, assisting entrepreneurs in initiating, managing, and expanding their enterprises. Our array of funding solutions encompasses both a term loan and a line of credit, tailored to suit the distinct requirements of your business.

By opting for a small business loan through Nextlvlfunding, you gain access to swift financial assistance accompanied by personalized guidance from our team of skilled loan advisors. The application process is streamlined and expeditious, requiring only a few minutes to finalize, and a prompt approval verdict could swiftly follow. Backed by billions in successfully disbursed funds and boasting a top-notch rating from the Better Business Bureau, Nextlvlfunding stands as the preferred choice for countless small business proprietors who place their trust in our lending prowess.

A+ Rating

With the Better Business Bureau

$14 Billion

Delivered to Businesses Globally

4.7/5 Stars

Reviews

How to get a small business loan.

Navigating the realm of funding alternatives and submitting a business loan application can be a daunting task. To alleviate this, breaking down the procedure into a sequence of uncomplicated stages can prove to be beneficial.

Step 1. Determine your funding needs.

Assessing your funding needs is paramount. Define your goals, estimate costs, and evaluate cash flow. Nextlvlfunding offers tailored solutions like term loans and lines of credit, adaptable to your business. Anticipate growth and potential risks. Rely on our expert advisors for guidance. Secure the right funding for your journey.

Step 2. Research loan types.

Explore various loan types to suit your business needs. Understand options like term loans, lines of credit, and more. Nextlvlfunding provides expert guidance to help you choose wisely and secure the ideal loan for your venture.

Step 3. Compare lenders.

Compare lenders efficiently. Assess interest rates, terms, and customer reviews. At Nextlvlfunding, we stand out with competitive offerings and top BBB rating. Make an informed choice for your business with our transparent and trusted lending solutions.

Step 4. Apply.

Apply effortlessly with Nextlvlfunding. Our user-friendly application takes minutes to complete. Experience swift processing and personalized support from our dedicated loan advisors. Get on the fast track to securing the funds your business needs to thrive.

Uses and benefits of small business loans.

  • Launching your business. No mystery here: Launching a business comes with costs. A small business loan offers the necessary funds to kick start your venture.
  • Funding growth. Progress demands financial input. Extend to a fresh locale, initiate a marketing drive, or enlist more personnel.
  • Buying equipment. Acquiring equipment often bears a substantial cost. Utilize a small business loan or line of credit to acquire equipment or finance significant acquisitions. Certain lenders might provide conventional equipment financing, leveraging the equipment as collateral to back the loan.
  • Bridging cash flow gaps. A small business loan offers funding to bridge seasonal lulls or address gaps in cash flow.
  • Boosting working capital. Seize unforeseen opportunities without hesitation. Bolster your working capital to effectively navigate unexpected challenges.

Where to find small business loans.

Numerous sources provide small business loans. Historically, banks and credit unions were the mainstay for business owners. Nowadays, online lenders present an array of supplementary financing choices, catering especially to borrowers who face difficulties in securing funds from traditional establishments.

Banks

Conventional providers of small business loans, physical banks, and credit unions suit borrowers with stellar credit seeking substantial funding. Eligible applicants enjoy competitive interest rates, although the application procedure’s lengthiness might impede swift funding.

Online lenders

Online small business lenders offer expedited application processes, often resulting in quicker fund disbursement compared to traditional banks and credit unions. Those with imperfect or unfavorable credit might still qualify for financing, albeit usually at elevated interest rates.

Small Business Administration

The U.S. Small Business Administration (SBA) collaborates with lenders to support loans for small enterprises. SBA loans generally offer favorable rates and terms, with funding spanning from a few hundred dollars to several million. Stringent borrowing criteria and a meticulous application procedure may decelerate fund disbursement.

What types of business loans are available to business owners?

A term loan supplies small businesses with a lump-sum fund injection. Typically, it offers higher maximum loan amounts compared to a line of credit or cash advance. Repayment occurs via regular monthly installments. Certain term loans, known as secured loans, necessitate collateral, while unsecured ones do not. Nextlvlfunding opts for a general lien on business assets instead of specific collateral, eliminating the need for security on loans.

A business line of credit furnishes a predetermined fund pool accessible on demand. Repayment takes place through scheduled installments, with borrowers restoring their available credit as they repay. This financing choice suits recurring costs well, permitting withdrawals within the credit limit without requiring reapplication.

A merchant cash advance (MCA) offers businesses an upfront lump-sum capital injection in return for a portion of future sales. While it provides swift funding, MCA interest rates can surpass those of alternative small business financing methods.

Equipment loans cater to machinery acquisitions and are available through various banks and online lenders. Generally, the acquired equipment functions as collateral, enabling lenders to extend competitive interest rates. Nonetheless, in case of borrower default, the lender retains the right to reclaim the equipment.

The Small Business Administration primarily extends a finite selection of direct business loans, often via government-supported emergency loan initiatives. More frequently, the SBA collaborates with conventional lenders such as banks and credit unions to furnish specific business loans fortified by a government assurance. This guarantee streamlines the loan approval process for business proprietors whose credit standing slightly deviates from the bank’s standard qualification criteria.

What business loans does Nextlvlfunding offer?

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Nextlvlfunding Line of Credit

Access a revolving credit line available round the clock.

Credit limits spanning $6K – $100K

Flexible repayment durations: 12, 18, or 24 months

Ideal for maintaining readily available funds

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Nextlvlfunding Term Loan

Obtain a singular lump sum, plus the potential for future applications.

Loan ranges: $5K – $250K

Repayment options extend up to 24 months

Ideal for substantial business investment

Minimum requirements and qualifications

1 Year

in business

625

personal FICO® score

$100K

business annual revenue

Business

bank account

Applying for a small business loan at Nextlvlfunding is quick and simple.

Step 1. Complete the application.

Rest assured, your data remains secure. We solely request essential business details along with your three most recent bank statements.

Step 2. Get a decision.

Your designated loan advisor will discuss various small business loan choices to identify the one that aligns perfectly with your requirements.

Step 3. Receive your funds.

Upon finalizing your online checkout, you could potentially access your funds on the very same day.

Clients Reviews

Same Day Funding is accessible exclusively in specific states, catering to term loans up to $100K. The eligibility timeframe spans Monday to Friday, concluding by 10:30am EST. For checkout completed before 10:30am EST, funds will be accessible by 5pm local time on the same day. However, if checkout transpires after 10:30am EST, during weekends or bank holidays, it will not meet the criteria for Same Day Funding, and funds will be deposited within 2-3 business days.

Certain industries, as outlined in the list of restricted sectors, fall outside our scope of service. Furthermore, there are specific industries and states currently affected by the Coronavirus for which we are temporarily suspending lending. It’s important to note that Nextlvlfunding does not extend loans to businesses situated in Nevada, North Dakota, or South Dakota.