Lendinero's blog on Growing Your Business
Lendinero is working with a new online platform to offer small businesses a quick solution. Businesses can apply for a business line of credit via lendinero and they are redirected to a special online platform where qualified businesses use their QuickBooks data to get fast approval for a revolving business line of credit. Most alternative financing solution providers request the last four months of bank statement. With this solution, small business owners avoid that step. When business owners create an account for a business line of credit request the QuickBooks data will be utilized to analyze the initial phase to deliver a credit decision. Small business owners who use QuickBooks can apply on this platform and be approved the same day. The process can take less than 5 minutes.
A revolving business line of credit is one of the best solutions for small businesses. Minimum qualifications include being in business for six months and earning monthly revenues of at least $20,000 . The business must withdraw $5,000 minimum at the time of funding and thereafter
each draw is repaid automatically in fixed weekly installments over 6 months to 12 months. Also, the business owner can pay off early the funds they withdraw without penalty.
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