Wambuistreet - 1st Business Loan Services


The SBA 7(a) loan program is the SBA’s most widely used loan program. While the loan is partially guaranteed by the Small Business Administration, the financing is delivered through an approved SBA lender.

This way, you can borrow anywhere between $30,000 – $500,000 for as long as a 10-year term. The SBA’s 7(a) loan program is attractive to many small business owners for its competitive interest rate. If you apply through Wambui Street, you’ll see that the interest rate is currently set at very less interest.1 Payments are made monthly and you won’t face any fees for early repayment. Your business should have an operating history of at least three years to qualify.

Use the proceeds for working capital, refinancing debt, making major purchases, and more. With great interest rates, affordable once-monthly payments and no prepayment penalties, federally-backed SBA loans are considered the gold standard in small business lending. We’ll pair you with a dedicated loan specialist who will help you prepare a complete and SBA approval-friendly application. Contact now

Term Loans Loans

Term loans are one of the most popular types of small business loans. If you’ve ever taken out a mortgage or financed a vehicle purchase, then you’re probably familiar with the mechanics of a term loan. Term loans are delivered via a lump-sum of capital from a lender and paid off in fixed installments according to a schedule until you pay back the principal plus any applicable interest (and any fees). Repayment periods can vary from short term (6 months) to medium term (1 -3 years) to long term (7 years). Term loans are typically secured by a lien on your business assets (a right for the lender to seize those assets if you default on the loan) and may require a personal guarantee, which means your personal assets may be liable if your business defaults on the loan. One of the perks of a term loan is that the interest rate, which could be either fixed or variable, tends to be competitive and lower than other types of small business financing. This is especially true when you consider that you may be repaying the loan over a number of years. Business owners have flexibility with regards to how they can use the funds. For instance, one could use a small business term loan to expand to a new location, replenish inventory, or hire new employees. Low monthly payments, no prepayment penalties, and faster-than-the-bank decisions: term loans are just one of three flexible financing options covered under our simple application. To know more contact now

Merchant cash advances (MCAs) aren’t exactly small business loans. Instead, they’re a cash advance against your future credit card revenue delivered to you in a lump-sum. The advanced amount, which can be a minimum loan amount of $2,500 to a maximum loan amount of $400,000 is determined by the issuer and based on your average monthly credit card sales. Because the cash advance is repaid as a percentage of your daily credit card revenue, it may take anywhere from 90 days to two-and-a-half years to repay. One of the key risks of MCAs is piling on too many of them – known as stacking – which may completely deplete your cash flow. You should also be aware that interest rates (often expressed as a factor rate) can be very high, ranging between 40-350%. Funding Circle does not offer Merchant Cash Advance funding solutions at this time. To know more contact now

A working capital loan is a short-term loan meant to help a business cover its everyday operations needs. It can be directed toward expenses such as payroll, paying rent, or making monthly payments towards debt. A working capital loan is not meant to buy long-term assets or investments. To know more contact now

A line of credit is a flexible form of short-term financing. You have a set amount of available credit that you can access as you need. With a business line of credit, you do not make any payments or pay any interest until you actually use the funds. A line of credit is ideal for unexpected expenses so that you don’t have to rely on cash flow when emergencies arise. For instance, having to replace a major piece of equipment or offsetting a seasonal decline in revenue. When you apply through Funding Circles network of lending partners, you could be eligible for a line of credit for up to $250,000. With a line of credit, you’ll only pay interest on the funds you draw. However, there may be other fees attached to lines of credit like monthly maintenance fees, draw fees, and late payment fees. If you’d like to be considered for a line of credit through Wambui Street network of partner lenders, be sure to contact us now.

Invoice factoring is more similar to an MCA than it is to a business term loan. Invoice Factoring works by selling your accounts receivables to an invoice factoring company (also called a ‘factor’) at a discounted rate in exchange for two lump-sum payments. The first payment is the advance (which represents the discounted invoices) – an upfront payment of 70-90% of the factored invoices, and the second payment is for the remaining balance (minus any fees) once your customers pay the invoices in full. Invoice factoring is best for businesses that need to cover inventory costs or upfront expenses but have delayed payment terms with their customers. The benefit of invoice factoring is that your account receivables are quickly turned into cash rather than having to wait months for customers to pay. To know more contact now

Business owners can look for small business loans with shorter or longer terms based on their financial needs. The best one for you depends on a few factors. You should consider how you’ll use the money, how much you need, and how much you’ll pay in interest with each option.

If you’re not sure what kind of financing option you want (loan, line of credit, or something else), consider talking to a financial expert (like your accountant) about your situation. They’ll be able to talk you through your options, helping you find the best small business loans for you and your business.