 Need working capital for your business?Getting the cash you need to grow your business is easy at Coffman Capital. We provide a working capital loan up to $150,000, unsecured, at around 8.5% interest for a term of 7 years with no prepayment penalty. Minimum requirements for Working Capital Loan: - Existing Business only, 2 or more years in business
- FICO Credit Score of 640+ for amounts up to $100,000
- FICO Score of 680+ for amounts $100,000-$150,000
- Maximum Working Capital Loan Amount: Up to 30% of gross revenues for immediate past year reported on tax return; Minimum loan is $25,000
- Profit Requirement: Must have been profitable in prior tax year (can add-back depreciation and officer salary)
- Term: 7 years full amortization, Prepayment Penalty: None
- Interest Rate: Variable at Prime + 1.5% up to Prime + 4% depending on personal and business credit score and other factors. Average is 8.5%
- Auto Debit (EFT) Payments: Required
- Completed Express Loan Application - see Working Capital Application
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Coffman Capital provides small business loans, business acquisition loans, working capital loans, and commercial real estate loans to businesses.
