Lendinero has launched a funding program to benefit Hispanic businesses. The program is a 1 year term loan with interest rates starting as low as 6%. Lendinero has been in the forefront of helping Hispanic businesses since its inception. Most Hispanic businesses are accustomed to traditional banking and Lendinero helps Hispanic businesses that cannot obtain a loan at a bank. Most business owners are not accustomed to the Lendinero way of doing business because credit decisions are delivered fast. A Hispanic business owner can apply online, fax or email their documents and in less than 48 hours a credit decision is delivered. The best program that can help Hispanic businesses is the 1 year program with rates as low as 6%. To qualify Hispanic businesses need the following:
- 2 Years in Business and generate in excess of $240,000 in annual sales
- A credit score of 640 or above
- Last 2 years of profit to loss statements and balance sheets
- Year to date profit to loss statement and balance sheet
- A net profit margin ranging from 5% to 15% to cover the monthly payment
- 6 months to 12 months of corporate bank statements with positive close out balances
Lendinero offers other solutions to Hispanic businesses. If they don’t qualify for this program, there are other programs that can be provided even if the businesses have been in business for less than 2 years or if they have poor credit scores. Lendinero understands Hispanic businesses and takes into account all of their needs and all financing solutions to include: equipment financing, inventory based financing, asset based lending, and accounts receivables financing. A Hispanic business can know all of their options in less than 2 business days and obtain a credit decision.