We Can Now Lend to More Industry Types
You know us as the #1 lender to restaurant and hospitality businesses, but many of our partners ask, “have you considered lending to more industry types?” The answer is yes. We’ve recently created a new loan product specifically designed for businesses other than restaurants. Below is an expanded list of the business types we can now lend to.
Attorney or Law Firm
Doctors & Other Healthcare Professionals
Printing & Publishing
Chemical & Related Manufacturing
Electronics Manufacturing & Equipment
Food Products Manufacturing
Steel Production/Steel Fabricators
Industrial Equipment Manufacturing
Beer, Wine & Liquor
Food Processing & Sales
Meat Processing & Products
Nutritional & Dietary Supplements
ATV/Golf Cart Dealers
Cable & Satellite TV Production & Distribution
Energy & Natural Resources
Newspaper, Magazine & Book Publishing
ARF Unsecured Loan vs. Merchant Cash Advance
RATES UP TO 36% LOWER THAN INDUSTRY AVERAGE
Most businesses have limited choices when it comes to obtaining capital. The most common is a merchant cash advance (MCA). As shown in the table below, an unsecured business loan from ARF Financial is far superior to a merchant cash advance!
ARF Loan for Expanded Portfolio
Typical Merchant Cash Advance
|Rate = 1.30 (annualized = 30%)||Rate = 1.35 to 1.40 (annualized = 47% to 70%)|
|Fixed term = 12 months||Variable term = 6 to 9 months|
|Loan amount based on total sales (cash & credit card)||Advance amount based on credit card sales only|
|Fixed weekly payments||Daily variable payments|
|Flex Pay – 25% principal deferment into the future for lower payments now||No|
|Line of Credit = Yes, up to 5 drafts for 6 months||No|
|Early payoff options are available||No|
|Interest paid is tax deductible||No|
Minimum Loan Requirements
Time in Buisness
Business must be open and operating for at least 1 month under the same ownership.
Business must generate at least $100,000 in net annual sales.
Guarantor’s Equifax Beacon score must be 551 or higher.
Bankruptcies whether business or personal must be discharged for 12 months or more.
Loan amount is capped at 7.5% of net annual sales. Business cannot have more than 7 NSFs in the current month. Tax liens cannot equal 20% or more of monthly sales. Lease must be current if applicable. Click here for a list of prohibited industry types.