Business financing
Funding to grow what you've built.
Kevin is a referral partner of Lexington Capital. He helps you get your paperwork in order and submits your application, so you're not doing it alone.
Programs
Bank line of credit
A true revolving line from Lexington's partner banks and credit unions. Draw on it, pay it down and use it again, with a monthly payment based on your balance and no collateral. Co-signers are welcome.
What it takes
- A credit score of 680 or higher
- 2 years in business
- Credit cards under 25% of their limits (if not, you may still pre-qualify)
- A three-bureau (tri-merge) credit report
Business credit cards
Business cards from major banks, with an introductory 0% interest period set by the bank. They build business credit and don't report to your personal credit. Startups are welcome, with no minimum revenue and no industry restrictions.
What it takes
- A credit score of 680 or higher
- Credit cards under 25% of their limits
- A three-bureau credit report
Co-signer funding
If your own credit isn't there yet, you may qualify for a line of credit with a co-signer's credit instead.
What it takes
- A co-signer with a credit score of 680 or higher
- The co-signer's three-bureau credit report
Revenue-based line of credit
A revolving line for businesses with steady sales, with weekly or monthly payments.
What it takes
- At least 6 months in business
- At least $300,000 in yearly revenue
- A credit score of 600 or higher
- 4 months of business bank statements
SBA loans
Government-backed loans with 10- or 25-year terms, for growth or to refinance existing business debt. Losses on your tax returns don't rule you out.
What it takes
- 2 years in business
- A credit score of 650 or higher
- At least $120,000 in yearly revenue
Business term loans
A lump sum with 1- to 3-year terms and monthly payments, for larger, established businesses.
What it takes
- 2 years in business
- A credit score of 650 or higher
- At least $1,000,000 in yearly revenue
- 4 months of business bank statements
Working capital
Fast funding for payroll, inventory or a slow season, with terms of 6 to 36 months. Once approved, funds can arrive in 24 to 48 hours. There's no minimum credit score.
What it takes
- At least 6 months in business
- At least $100,000 in yearly revenue
- 4 months of business bank statements
Equipment financing
One or more pieces of equipment, with 3- to 7-year terms, fixed rates and monthly payments. No industry restrictions. Ask your tax professional about writing off the equipment.
What it takes
- 1 year in business
- A credit score of 600 or higher
- At least $120,000 in yearly revenue
- An invoice for the equipment
- Your last 4 months of bank statements
These are Lexington Capital's general guidelines and can change. Lexington reviews every application case by case, so if your situation is different, ask Kevin anyway.
How it works
Talk with Kevin
Call or text (848) 212-8787, or pick a time. Tell Kevin what the money is for and how much you need. If it isn't a fit, he'll tell you.
Get your paperwork ready
- Your last 4 months of business bank statements (for most programs)
- An invoice for the equipment, if you're financing equipment
- For SBA loans, your business tax returns
- Basic business details: what you do, when you started and your yearly revenue
- Three-bureau credit report: every program needs one. You can get yours through IdentityIQ. Their $1 offer is a short trial that becomes a paid monthly membership unless you cancel, so check the price on their page and cancel if you don't want to keep it.
After you talk, Kevin will tell you how to send your documents. Please don't text bank statements or credit reports.
Kevin submits it to Lexington Capital
Kevin puts your application together and sends it in. Lexington Capital reviews it and makes the decision, and Kevin keeps you posted.
What to expect with a bank line of credit
- Lexington reviews your three-bureau credit report for a pre-approval.
- If you're pre-approved, Lexington's director of banking relations walks you through the whole program so you can decide if it makes sense for you.
- You receive Lexington's agreement to review and sign, including its fees.
- If your credit cards are over 25% of their limits, you may need to pay them down first so your credit report shows it.
- A compliance call goes over every detail of the agreement before anything moves forward.
- Lexington's bankers apply for lines of credit and business credit cards for you.
- The whole process usually takes 2 to 4 weeks from the first application.
Straight talk
The truth: a "no" today isn't a "no" forever. If you don't qualify yet, Kevin will tell you what could help.
The truth: a co-signer is equally responsible for the debt. Make sure they understand that before they sign.
The truth: a 0% intro period ends. Plan how you'll pay the balance before it does, and read Lexington's agreement and fees before you sign.
The truth: borrowing is a big decision. Only borrow what your business can repay.
Financing is provided by Lexington Capital, not by Kevin or Retire With Kevin. Kevin is a referral partner of Lexington Capital, not a lender, and may receive a referral fee. Lexington Capital reviews every application and makes all credit decisions. Not every applicant is approved, and terms depend on the lender and your situation.
Ten minutes. Real answers. No pressure.
Tell us what's on your mind, and Kevin will walk you through your options with real numbers.