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Bank Financing

Monberg Capital Partners has a vast network of banking and non-banking partners. We act as a catalyst in the process. We help companies get loans faster to meet their deadlines and other requirements to get them started on projects as soon as possible.

Merchant Cash Advance (MCA)

 MCA is the purchase of a merchant’s future receivables at a discounted price. It is an unsecured capital with no collateral. We finance 10-20% of the gross annual sales within 1-3 days.

  • Rates from 1.15% – 1.50% factor rates.
  • The term may vary from 2-36 months.
  • Payments can be made daily, weekly, bi-weekly, or through credit card split % once the borrower batches out at the end of the day.

Paperwork

For Loan Amount Less Than $100,000

  • Four months Bank Statements and four months Credit Card Statements. If you don’t have credit cards, we require six months of bank statements.
  • Application.

For Loan Amount More Than $100,000

  • Four months Bank Statements and four months Credit Card Statements. If you don’t have credit cards, we require six months of bank statements.
  • Business Tax Return (most recent).
  • P&L Sheet (most recent).
  • Balance Sheet (most recent).
  • Application.

Bank Type Programs

This is a regular bank Government-regulated loan.

  • Rates from 5-12% APR.
  • Loan tenure may be from 1-10 years, and collateral will be amortized for 25 years.
  • Monthly payments.

Other Loans

  • Unsecured financing is up to $500,000.
  • Secured financing occurs after $500,000 up to $23,000,000.

Qualifications

  • A credit score of at least 550.
  • Profitable every year.
  • Growing business every year.
  • No bankruptcies.
  • If tax liens: a payment plan is required.
  • In business for a period longer than one year, preferably more than two years.
  • P&L sheets, balance sheets, and business tax returns for the previous two years.

Paperwork

Bank Type Programs Uncollateralized

  • Six months of bank statements.
  • Two years business tax return.
  • Two years of balance sheet.
  • Two years of P&L sheet.
  • Personal financial statement.
  • Debt sheet.
  • Application.

Bank Type Programs with Real Estate Collateralized

  • Six months of bank statement.
  • Two years business tax return.
  • Two years balance sheet.
  • Two years P&L sheets.
  • Debt sheet.
  • Personal financial statement.
  • Real estate worksheet.
  • Mortgage statement.
  • Application.

Business Start-up Loans

  • Credit Package: Application, copy of personal credit report, copy of latest utility bill, last two pay stubs, previous two years W2 form, and a copy of ID.
  • The borrower must have a minimum of 650 FICO scores to qualify.
  • The borrower’s annual gross income must be a minimum of $40k to qualify.
  • No bankruptcies or foreclosures in the past five years.
  • Business can be brand new or yet to start.
  • Financing from $5000 to $350,000.
  • Terms: Rates start at 5.99% and can go as high as 30% with 1-5 year terms.
  • Processing and funding time is typically within seven business days of submission of credit package.
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