The CAN Capital Small Business Loan is an opportunity for start-ups and other new-born businesses to fund their expansions, finance upcoming projects and focus on inventory or marketing. It is designed to help the most rudimentary form of setups benefit from the financial security needed to continue operating in a competitive market.
What does the CAN Capital Small Business Loan Offer?
With the CAN Capital Small Business Loan a single location business is eligible to receive an amount anywhere between $2,500 and $150,000 while those present at multiple locations can get a loan up to $250,000. The terms can be a minimum of 6 months or a maximum of 18 months.
The approval of the loan depends on the business industry, daily cash flow, total revenue and age of the business.
Which Businesses Can Receive a CAN Capital Small Business Loan?
A business should generate stable monthly revenue of at least $4,500 or have been in operation for a minimum of 3 months to be eligible for a CAN Capital Small Business Loan. The minimum credit score requirement is about 550 and it is best if the business does not have any pending payments or filed for bankruptcy in the last six months.
The CAN Capital Small Business Loan funds businesses from the salon, spa, restaurant, automotive, medical, e-commerce, trade and services industries. The loans are available to business in all 50 states of the U.S.
What Can a Business Do With the CAN Capital Small Business Loan
The CAN Capital Small Business Loan has the lowest revenue and credit score requirement. Businesses with a steady cash flow are encouraged to apply for the loan. It isn’t necessarily limited to newer businesses and can be extended to a business with a good credit report that needs a small loan on easier terms.
The funds can be used as the business pleases whether it is to improve the current goods and services being provided or to work on novel ideas.