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Author: Kaitlyn Short
Since its founding in 2011, United Capital Source has helped over 20,000 U.S. business get over $900 million in funding. Its website features case studies from happy customers in a variety of industries, from digital marketing to retail. There's a chance United Capital Source could help your company too — the company works with over 1,000 industries.
The company provides funds to increase cash flow. Many companies use the loans to buy supplies, pay additional employee wages, cover unexpected costs, and more. United Capital Source offers a team of business lending specialists to discuss requirements and the best options for funding.
Typical borrowers can be those with bad credit needing small loans, or those with good credit looking to get a large amount of funds quickly.
Consumers that choose United Capital Source should remember that they must have a credit score of 525 or higher.
In 2015 and 2017, the company ranked in the Inc. 5000. United Capital Source's founder, Jared Weitz, is chair of the Small Business Finance Association Broker Council.
Many alternative lenders have an array of funding options. UCS can connect you with several options that could be right for your business:
United Capital Source mentions it has programs specifically for women entrepreneurs, bad credit scenarios, and revenue-based lending too.
With some loan programs from United Capital Source, you do not need a personal guarantee or collateral. However, this may mean that the interest rates are higher — small businesses with no credit history or collateral will always need to pay higher interest rates. You could be eligible for these products without a personal guarantee or collateral:
Many companies charge a fee to apply for a business loan, but UCS makes its application free. In fact, UCS doesn't directly charge closing fees and doesn't charge prepayment fees, either.
United Capital Source offers loan options to all 50 states.
While traditional lenders can require months of time to approve an application, United Capital Source can respond to your application for certain products in as little as 6 hours. These products include the merchant cash advance and line of credit.
Other products such as equipment financing, term loans, SBA loans, business credit cards, and accounts receivable financing require a longer turnaround time, but the process is still quicker than many traditional options.
United Capital Source has a simple, one-page application. For pre-approval on some products, all customers will need is to fill out this application and provide their most recent three business bank statements.
Some products require weekly or even daily repayment, which might not make them viable for your business. However, UCS also has funding options with semi-monthly and monthly payment plans, so this will depend on the product you prefer.
For those seeking funding for a brand new business, UCS might not be able to help you. United Capital Source can work with businesses with at least three months of documented sales history.
There are several things to like about United Capital Source, including its updated, comprehensive website and quick funding options. United Capital Source has included important information for prospective clients on its website, including starting interest rates, max funding amounts, term lengths, and approval times.
However, be aware that you might not be eligible for funding if you are a startup or don't have access to a credible sales history.
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4 years ago
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4 years ago Edited January 10, 2024
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