4 million dollar business loan

4 Million Dollar Business Loan - 4 million dollar loan

Crystal Business Funding provides 4 million dollar business loan's . Apply Now for quick and easy working capital business.

Securing a 4 million dollar business loan can be a massive help to scale your company properly.

What is a 4 Million Dollar Business Loan?

A 4 million dollar business loan is a nice amount of funding that can change the way your business operates. Depending on what you're using the capital for, will determine the increase in revenue. The most common use of a 4 million dollar note is, 1. Simply getting working capital to run the business smoothly. 2. Expanding operations by either purchasing equipment or real estate.

Where to get a 4 million dollar loan?

Due to the fact that $4 million is a larger number compared to the average business loan, a bank would be very difficult to get you what you need (unless you have a really great relationship with your bank).

So where can you get the business loan?

Revenue Based financing

Revenue based financing is simply exactly what it sounds like ‘a loan that will be based on the businesses monthly revenue’. The most popular type of business loan that is based on revenue is ‘Merchant Cash Advance’ also known as MCA. An MCA is not a traditional loan but rather an advance based on future revenue of the business. The lender will give you the funds you need upfront, which you will then repay by allowing the lender to take a percentage of the daily or weekly sales until the loan is paid back.

Why Choose Revenue based financing?

The best part of getting a 4 million dollar MCA loan is how quickly it will take to get approved and funded. Since an MCA loan is based on the businesses revenue rather than your profit margins… Most online lenders offer MCA, so you don't need to specify search for an MCA provider.

Interest Rates:

The cost of revenue based loans are generally not as cheap as a bank, with interest rates typically ranging from 25% to 35%. However, MCA’s aren't measured with APR, so the rates mentioned above isn't the yearly cost, rather it's the total interest paid over the life of the loan. Which means if you get an 18 month term at 25% you'll have 16.66% APR.

Online Lenders

Online lenders have revolutionized the way businesses access capital, providing an alternative to traditional banks that is faster and often more accessible. For companies seeking a 4 million dollar business loan, online lenders can offer various products, including term loans, lines of credit, and invoice financing.

Why go with an online lender?

Besides the obvious reasons why online lenders are a great option (it's way easier than going down to your local bank) there are other benefits of online lenders such as: Most online lenders don't require collateral, it's very simple and easy to apply, and the time it takes to get an approval is really fast. Some lenders can have you funded as quickly as the day you apply.

Interest Rates:

Interest rates for online business loans depend on the type of loan you're getting, the businesses credit score, & the businesses financials. So rates can range from 15% to 35%.

SBA Loans

You can possibly get a 4 million dollar loan with an SBA loan, depending on a couple of factors, here are some of the basic requirements: The last 3 tax returns show a gain/profit, a credit score above 650, be in business for a nice amount of years, and you'll need to put up collateral, (unless you get under $500k).

4 million dollar SBA loans

If you meet the above requirements, and don't mind waiting a month or two for the loan then an SBA can be a perfect solution to obtain the funds needed.

Interest Rates: SBA loans generally offer rates between 8.5% and 12%, depending on the lender, amount, and your credit….

What’s the Best Choice?

To decide what the best option for a 4 million dollar business loan is, think of what you'll qualify for, and how soon you can use the funding.

If you can use the working capital right away then revenue based financing or an online lender is probably the best option.
If low-cost financing is all that matters to you then try your local bank or the SBA. Traditional financing can be a perfect solution provided that your business meets the requirements.

Final Thoughts

When choosing a lender, make sure tjqt the lender will lend upto 4 million. Whether you end up obtaining an MCA loan, an online loan, or an SBA loan, if you utilize the funds cleverly, you'll be able to scale and grow your business much easier than without a loan.