Small Business Lending

Empowering Entrepreneurs

Starting and growing a small business often requires access to capital. Small business lending provides entrepreneurs with the financial resources they need to launch, expand, or stabilize their operations. Understanding the types of loans available and the lending process can help business owners make informed decisions.

There are many options for small business loans ranging from traditional bank loans to merchant cash advances. Some of loan types can be very helpful and some can be extremely toxic. It’s essential to find a financing option that is good for the long term health of your small business. Our small business lending program offers business borrowers a faster and more flexible application process. While our small business loans may provide quicker access to funds, interest rates may be a bit higher compared to traditional banks. Then again, these lenders often cater to larger business with a more established credit profile. If your banker has told you “no”, that is a good time to contact GreenLight Consulting.

The Application Process

Applying for a small business loan involves several steps:

Preparation: Your GreenLight Loan Officer will work with you to prepare your file. This loan file contains all the information necessary for your personal situation, which may include appraisals, financial statements, tax returns, and maybe even a business plan. A clear presentation of your business model can enhance your application.
Plan for Payback: Every loan file will include a small understanding on how you intend to pay back the loan. The more information you provide here, the more your odds for approval are increased.
Submitting the Application: After you and your GreenLight Loan Officer agree that your file is complete, you will submit your application and loan package.
Credit/Risk Assessment and Due Diligence: Our Underwriting Team meets regularly and will review your complete loan package and complete due diligence on you as a borrower. The more information you present in your Loan Package will help in securing favorable loan terms.
Approval and Term Sheet: After careful evaluation of your Loan Package, you will either receive notification that your loan is approved or denied. This usually takes 5 to 7 business days. However, it can be shorter or longer than that. With your approval, the Underwriting Team will issue a Term Sheet by which it will agree to do your loan.
Loan Agreement and Funding: Once you agree to the terms of the loan, the GreenLight Underwriting Team will request our legal team to create an Agreement pursuant to the terms. This will be sent to you electronically and you should have your legal, accounting, and finance team review the terms carefully. Once you have thoroughly reviewed the Agreement, you can sign or reject it. Upon signature, your funds will be released within one to three business days.

Small business lending is a vital resource for entrepreneurs seeking to realize their visions. By understanding the application and approval process, business owners can secure the financing they need to thrive. Whether starting a new venture or expanding an existing one, the right loan can provide the necessary boost to achieve business goals.

Start the application Process Now!

<!-- wp:shortcode -->
<iframe id="JotFormIFrame-242595803576164" title="GreenLight Consulting General Inquiry Form" onload="window.parent.scrollTo(0,0)" allowtransparency="true" allow="geolocation; microphone; camera; fullscreen" src="https://form.jotform.com/242595803576164" frameborder="0" style="min-width:100%;max-width:100%;height:539px;border:none;" scrolling="no" > </iframe> <script src='https://cdn.jotfor.ms/s/umd/latest/for-form-embed-handler.js'></script> <script>window.jotformEmbedHandler("iframe[id='JotFormIFrame-242595803576164']", "https://form.jotform.com/")</script>
<!-- /wp:shortcode -->