Why One Source
One Source: The Better Alternative
It’s been said that you need a college degree to get a bank loan in today’s complicated world of financing. During the recession in 2008, a lot of government dollars were lost in bailing out banks around the country that made bad loans, which led to the strict banking regulations and rules that often eliminate small businesses from getting the loans they need—and deserve.
It’s important to know that when applying for a business loan, structuring the use of proceeds properly to meet SBA eligibility is critical. The average business owner may not be educated with what is or is not eligible and their loan request is usually denied. One Source can structure the loan properly so that the business is successful in receiving the financing they need, another important SBA requirement is the business must be able to demonstrate it has cash flow needed to debt service the loan, we can help business owners prepare a cash flow spreadsheet with eligible add backs to demonstrate the business can afford the loan amount it is requesting. Lastly, most lenders require the business owner to prepare a loan summary explaining the reasons for the loan amount requested and how it will help the business. At One Source we have proprietary software that will prepare a professional and informative loan summary together with cash flow spreadsheets to present your loan in a professional manner increasing a business owner’s chances of approval. One Source Business Capital has 22 years of experience in structuring loan request for clients around the country.
Why One Source?
We’re Experts in What We Do. Most banks do not have the manpower or the expertise to process an SBA loan, and often leave the bulk of the application process on the customer’s shoulders. At One Source Business Capital, structuring and packaging SBA loans is our field of expertise, so you can leave the hard work to us. What’s more, because we work independently, there’s no conflict of interest, so you can maintain your existing banking relationships.
All Banks Have a Vested Interest in Funding Businesses Where They Operate. Many banks often can’t service the needs of small and cash-based businesses due to regulatory constraints, collateral requirements, and sometimes even a lack of know-how.
In addition, the scrutiny of federal regulators over their underwriting policies and practices requires an infrastructure that’s costly to banks, so they often tend to favor larger borrowers.
One Source is able to efficiently sort and find the appropriate guidelines with banks and non-bank lenders, making it easier and faster to get the capital small businesses need.
Banks Aren’t Equipped to Handle the Risk Small Business present. That’s why we a have an affiliation with non-bank lenders. They can offer stated income/asset loans and work with small businesses seeking loans of $250,000 to $5,000,000. Non-bank lenders are better equipped and understand small businesses and take the time to identify promising businesses that traditional banks may not even consider.
What’s more, non-bank lenders usually don’t require the financial covenants of depositary banks, so as your business grows so can your paycheck and you get to bank anywhere you choose, without restriction.
Get the Financing You Need $500k — $5 Million
Non-recourse programs available • All credit situations, including bank workouts • No income verification • No seasoning programs on investment property refinances • Creative solutions around cash flow problems • Lower DCR (debt coverage ratio) • For the same income, we can usually get more funding • Competitive interest rates • will provide funding for corporations, trusts, and LLCs • Unique and special purpose properties
* Certain rules and restrictions apply. Terms of program may change without notice.
Because of these constraints with most traditional banks, there is a void in the market for loans and credit services to small businesses. The good news is that we understand this and One Source Business Capital is here to step into this void and help small companies like yours.