You also need to write a contract or promissory note to show your next integrity. Businesses that show good quick ratio scores when examined this way are said to have “passed the acid test for financial integrity.” Speak with one specialist from start to funding! On paper, your business looks great. Be careful about large volume customers or the reverse of speedy debt collecting could happen. If you have someone who seems to work circles around the others, rather than think about whom you can let go, consider how you can use your star employees to inspire and train the others.
If your credit is sub par but you still need a lump sum, OnDeck considers your business’s cash flow over your credit. If your business appears viable, you might qualify for a Micro Loan of $5,000 – $35,000. A company can be endowed with assets and profitability but short of liquidity if its assets cannot readily be converted into cash. Customers must have monthly lined of credit payments automatically deducted from their U.S. It doesn’t require a minimum personal credit score or minimum annual revenue. You also need a personal credit score of at least 600 or 650, depending on the loan size.