Grow your Business with a Scion Funding Term Loan
What is a Business Term Loan?
A traditional business term loan is a lump sum of capital that you pay back with regular repayments at a fixed interest rate. … Most business owners use the proceeds of term loans to finance a specific, one-off investment for their small business.
What is an Inventory Line of Credit?
Inventory Financing can be easily summed up as a short-term loan or line of credit made to a business that allows it to purchase products to sell. The inventory purchased serves as the collateral for the loan if the company cannot sell its products and repay the loan, also known as a loan against inventory.
What is an Equipment Line of Credit?
An Equipment Line of Credit from Scion provides the benefits of our lease products, preserves low cost of funds and allows you to space equipment acquisitions over time. Funding can be committed for up to 12 months in advance with periodic take downs (which can be matched to the equipment’s expected utilization time).
Scion’s direct funding capabilities and broad array of credit portfolios ensures your Equipment Line of Credit will be established with low, fixed, long-term rates on favorable terms with the most advantageous structure tailored to your unique business needs.
What is a Merchant Cash Advance?
A merchant cash advance (MCA) is an alternative to the lengthy approval process and strict credit requirements required for a traditional term loan.
A merchant cash advance (MCA) isn’t technically a loan, but rather a cash advance based upon the credit card sales of a business. A small business can apply for an MCA and have an advance deposited into its account fairly quickly.
We evaluate risk and weight credit criteria differently than a banker. Scion looks at the daily credit card receipts to determine if the business can pay back the funds in a timely manner. Basically, a small business “sells” a portion of future credit card sales to acquire capital immediately.
What is a Unsecured Line of Credit?
The lending institution assumes greater risk in granting an unsecured line of credit. None of the borrower’s assets are subject to seizure upon default.
Not surprisingly, unsecured lines of credit are tougher to get for both businesses and individuals. For example, a business may want to open a line of credit in order to finance its expansion. The funds are to be repaid out of future business returns.
Such loans are only considered if the company is well-established and has an excellent reputation. Even then, lenders compensate for the increased risk by limiting the amount that can be borrowed and by charging higher interest rates.
Credit cards are essentially unsecured lines of credit. That’s one reason why the interest rates on them are so high. If the cardholder defaults, there’s nothing the credit card issuer can seize in compensation.
Designed for Growth
Get 100% of the funds upfront to invest in projects that help grow your business.
Fast Funding
Apply online in minutes and have funds deposited in your bank account in as fast as a few hours.
Transparent Pricing
Our pricing is simple. Pay a fixed, weekly rate over 6 or 12 months, with no origination fee.
Dedicated Advisors
Our advisors are available to walk you through the process and help you obtain the funds you need.