Their other loan types are in the one to 10-year range. Short-term working capital loans may have a term length as short as three months, whereas an SBA loan can last 30 years. However, most products average around two weeks, with SBA loans taking even longer than a month in some cases. Depending on the loan type, you might get funded as soon as one day. With Upwise Capital, there are many flexible options with loan amounts ranging from $5,000 to $200 million. You’ll start the process with a short online intake form, and their loan specialists will contact you within 24-48 hours. You’ll even find a list of which documents they will need to get you approved and funded. Each loan product has its own webpage that explains how the funds can be used, typical rates and terms, and its requirements. Upwise Capital has the best website of any lender we’ve seen. With Upwise Capital, you may qualify for one of the following depending on your credit, time in business, and collateral: Online lender, no physical location to visitĮven with online lenders, relationships matter, so when you find a lender that offers as many loan products that can help you at different stages of your salon’s growth as Upwise Capital does, you’ll want to keep them close, so they are your first call when you need funds. The Small Business Administration (SBA) loan is a lot of paperwork and a lengthy process
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