The Right People, Process and Products to make it all work

Every day you are called about a small business loan to help your business. You may feel confused about the process or so frustrated because the calls keep coming and you need money right now.

The dreams of your business are crumbling around you currently because of this pandemic and now you need to find a way to keep your business alive and like anyone else your family safe.

National Corporate Credit knows how you feel and have all the answers for you to make the process easy and painless. A term loan can be greatly beneficial to your business as long as you know what will best fit for you.

The key thing is not to get frustrated but to follow the plan, find a solution, and work with someone at our company to make it easy for you.

Our goal is for you to trust the process, to offer a solution and help you to keep your business in the right direction.

Business Term Loan

A business term loan is an amount agreed to help your business. This can be paid weekly, bi-weekly, or monthly. Typically, business term loans range from 6 months to up to 7 years. Most of these have fixed rates but can be variable. We suggest you stay away from variable rates it can be a nightmare for your business.

All loans, like business term loans, have a beginning and an ending. Most allow you to pay off early without any penalties.

Advantages of Business Term Loans

  1. Low-Interest Rates: Our rates typically range from 3.99% to 11.99% but can be up and down based on where interest rates are at that moment in time.
  2. Cash flow: Having available cash flow gives you the flexibility to invest in other parts of your business where you might not have had the money to do so before. These areas could be marketing locally, if you have a restaurant get new equipment or if you have a construction company get more supplies.
  3. Easy Payment terms: Who would ever have predicted this pandemic.  Who would know that employees would make more money sitting at home on unemployment than working at your business but you had to keep things going. The great thing about setting up your own terms by deciding which company to work with you can set your budget in a way that works for you.
  4. We have the people, the right products, and the process: Applying with National Corporate Credit is easy from the start. Once you fill out our lead form or call us directly you will have approval in minutes if not seconds. We have a process that puts you in the driver seat to make it very easy to talk to our national banking network. Our relationships were built over a 10-year period. So, while other finance companies make promises we have already set up the right relationships to get you the money you need quickly. The whole process can be done in less than 10 days.
  5. How does your business win? The key thing is making your loan work for you. First, your loan is tax-deductible. Secondly, your credit score will increase with each on-time payment you make and increasing your overall credit portfolio. We also have other things to help you in the future to make your business better through our Success Portal.

Why most small business fail?

  • Not understanding Your Customers

  • No Vision

  • Not the right people

  • Not the right process

  • Not the right product

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The important thing is not being afraid to take a chance. Remember, the greatest failure is to not try. Once you find something you love to do, be the best at doing it.

Mikyle Jessen, Co-Founder National Corporate Credit

I make a conscious effort to keep things in perspective when I get burned out. It is easy to get stuck in the daily grind, but if you think about all the distance you have covered, and what lies ahead, it is much easier to feel motivated and optimistic.

Francisco Villa, Co-Founder National Corporate Credit

A Term Loan, what is there to understand

The basics are pretty simple, you receive your money, minus any fees, you get a schedule of how to pay back and you make your first payment typically 30 days from the origination of the loan.

The key thing to remember in all of this is the people, the right products for your company and finally the process to make it all work.

National Corporate Credit Types of Loans

When you go for any loan you need to figure out how much you need, what payment you can afford, and how long you want to make the payment on the loan that works for you.

short-term loan or some people call cash advance is usually unsecured with no collateral. The payment structure is usually daily or weekly. This should ONLY be considered for a short time, that you can afford it and your credit situation is why you would need this type of loan.

Term Loans based on your credit history can either be collateralized or not, but it really comes down to the amount. Almost always these types of loans have a type of collateral attached to the process.  Typical length is for three to seven years with National Corporate Credit. Once you go over seven years you start looking at long term options like Small Business Administration Loan or SBA. The idea of a longer-term loan is your doing major expansion or looking to purchase a large piece of equipment.

Key Differences in Loans to consider:

  • Secured vs. Unsecured Term Loans: When you secure a loan, it means the bank has title to what you are giving them as collateral to secure the loan that is equal to the value of your loan. If you have financial difficulties, they would then legal own that collateral and you would lose that collateral if you cannot make payments on the loan. A loan that is not secured means no collateral is attached to the loan or cash advance. These are considered high-risk loans for a bank institution. These loans will never go out further than 18 months.
  • Fixed vs. Variable Interest Rate: Getting a loan that has a fixed rate is what it is exactly, a fixed rate for the length of the loan. It will not change and that you will be your rate for the life of the loan. When you are looking to consider a variable rate on a loan you need to consider how this will affect your budget. These types of loans can be very volatile. It’s a good practice to never go out longer than 5 years on a variable rate product. National Corporate Credit does not offer this as part of their suite of products.
  • Have a Vision

  • Execute your plan

  • Believe in your product or service

  • Always keep moving toward the finish line

  • Never give up

Life is gives you opportunities, take the opporuntity and run with it, we will have your back always. At National Corporate Credit, we are one family and want all of our clients to succed. Let’s start today.

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Let’s create your vision and your story of success!