Business Loan Alternatives Checklist: What You Need to Know

By: Emily Klaus | Marketing Associate

Imagine this: a restaurant merchant wants to build a patio before the summer so she has more seating and a unique experience for her patrons. A lawn service owner has doubled his customers in the last year and needs to hire more employees to handle his growing business. Or maybe the president of a construction company needs to purchase materials for his next project, but hasn’t yet been paid for his last. Whatever the need or industry, small business owners handle cash flow issues every day and sometimes, look for financing from banks or other lenders to meet that need. However, traditional loans can be complicated and it could be weeks or months before an applicant ever sees the money. Unfortunately, these small businesses can rarely wait that long.

That’s where a business loan alternative like a merchant cash advance can help. Jet Capital offers merchant cash advances to small businesses in all types of industries: restaurants, trucking, construction, dentists and doctors, retail shops and mechanics, just to name a few! With a merchant cash advance from Jet Capital, you are selling a percentage of your future revenues to Jet Capital at a discount. Jet Capital then advances your business an amount based on your business track record and unique situation - not just your credit score. This means that even if you and your business have been turned down by traditional lenders, Jet Capital may be able to help with a business loan alternative.

Business Loan Alternatives Application Information

Sometimes the most difficult part of anything is the paperwork involved. Luckily, Jet Capital makes it easy for those looking for a business loan alternative like a merchant cash advance. Our easy online application is just three short pages. In about 10 minutes, small business owners can be on their way to getting working capital to grow their business.

Here’s what a small business owner can expect to see in a merchant advance application from Jet Capital:

  • Primary business owner first and last name
  • Primary business owner ownership percentage - if you own less than 51% percent of the business, we require information for the secondary owner
  • Business physical address - please keep in mind that we do not accept P.O. Boxes for the business address
  • Landlord and rental information
  • Federal Tax ID for business
  • Monthly revenue
  • Requested advance amount
  • Primary business owner birthdate and SSN

Additional Documents Required

If your application for our business loan alternative is initially approved, you may be asked to provide some additional documentation to supplement your application. This documents may include:

  • At least 3 months of bank statements
  • Proof of business ownership
  • Valid government photo ID of primary business owner
  • Voided check
  • Lease or rental agreement, mortgage statement or title/deed
  • Merchant processing statements

Depending on the size of your advance, you may need to submit all of these documents and more, or just a few of the documents listed above. The quicker we receive the requested documents, the faster you are on your way to receiving the working capital you need to grow your business.

Apply online today or give us a call at 866-845-9674!

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