You have questions. wE have answers.
There are several factors used to determine if your company may be approved for this program. The main three are age of business, business credit, and revenue.The best way to find out if your company may be approved for the Trade Credit Platform is to have a short conversation with a GU Loans loan officer. Clients that do not qualify for this program are still eligible for similar programs.
GU Loans uses risk-based pricing. This means we have the ability to approve virtually any business. Rates start at 2.1% APR and are adjusted depending on the risk of default. Of course, most clients would like to estimate their rate prior to applying. Unfortunately, due to the complexity of business loans, it is not possible to estimate rates or payments without completing a credit application. It would be a disservice for any lender to tell you their lowest rate, when they have no idea if you can actually qualify for it.
While the majority of the risk (and thus the interest rate) is determined by your company’s credit standing, numerous other factors affect your APR and payments. These factors include personal and business credit scores, prior payment history, depth of credit, amount of debt, age of credit, number of credit lines, type of equipment, industry, criminal record, child support, bankruptcies, repossessions, foreclosures, judgements, length of time in business, revenue, profit, retained earnings, down payment amount, value of assets, and many others.
The majority of the loans we provide require no down payment. There are some programs that require a small down payment. The exact amount required varies and is determined by numerous factors, including business credit, personal credit, time in business, depth of credit, revenue, profit, cash reserves, and many others.
There are virtually unlimited kinds of commercial equipment out there, and we finance them all. It is extremely rare for us to reject any type of equipment. From sewing machines to airplanes, if it is legal in your jurisdiction, GU Loans can finance it.
Yes! In most cases, GU Loans is able to finance used equipment. Ask your GU Loans loan officer for more details.
Term lengths tend to vary, depending on the program. The most common term GU loans provides is five years. The longest loan term GU Loans offers is seven years.
Yes! We have several options for brand new companies, including pre-revenue companies. GU Loans can provide loans to companies the same day they are incorporated.
Definitely! GU Loans knows most businesses experience a rough patch at one point or another and are sometimes not able to pay their bills on time. GU Loans loves to help businesses recover from tough situations. Many of our long-term clients started off with various situations that caused them to be turned down by several banks prior to us providing the financing they needed. GU Loans uses risk-based pricing, which allows at-risk businesses to get money when they need it most.
In a lot of cases, the only document we require is a driver’s license. If you are not able to provide bank statements or tax returns, GU Loans can still help you obtain your loan. Talk to your loan officer about your unique situation.
Yes! While not every loan is available to businesses with no credit, GU Loans provides several alternative financing options that allow for businesses and owners without a prior credit history.
GU loans does not provide personal loans. However, there are some personal credit card options for which we may be able to help you get approved for through one of our affiliate banks.
GU Loans has been helping businesses grow and prosper by providing commercial funding solutions for over a decade.
Probably not. There are a few exceptions but we think you are a piece of shit if you don’t pay for your child. If you are not even willing to pay to support your own flesh and blood, what are the chances you will pay GU Loans back
GU Loans is both a licensed lender and a licensed broker. This means that if we cannot help our clients directly, we can use our inter-banking relationships with over 300 financial institutions to seamlessly arrange financing for your company.
We do them all! There are simply too many options to list. If it is business related financing, the chances are GU Loans can help you. Talk to your loan officer about your unique situation.
Some of the financing GU Loans provides qualifies for section 179 tax breaks. GU loans does not provide tax advice and strongly recommends talking to your CPA about your particular situation. Your GU Loans loan officer can then answer any questions you or your CPA may have, in order to help determine the best financing options for your company.
GU Loans is located in Michigan. Our address is: GU Loans, 100 Galleria Officentre, suite 420, Southfield, MI 48034.
GU Loans provides financing in all 50 states and some parts of Canada. Due to local regulations, some financing products may not be available in all areas.
There are three main options. 1. Over the phone. 2. Online at www.guloans.com 3. At the vendor from whom you are purchasing the equipment.
Our approval times are extremely fast. The exact time depends on the type of loan you are trying to obtain. Some approvals are instant, while others may take a few hours.
Yes, but not always. Please consult your GU Loans loan officer to see if your request qualifies.
Yes! GU Loans will finance virtually any commercial property in the United States. GU Loans also provides financing for investor residential properties, such as rentals and fix-and-flips. However, GU Loans will not provide financing for any property in which the owner resides.
Yes! GU Loans can finance virtually any commercial equipment. GU loans has hundreds of equipment financing programs to fit the needs of your business.
Yes! We have numerous loan products available that do not require collateral.
Banks tend to have complex guidelines that are designed to help only very strong, low-risk businesses. While GU Loans provides these types of loans as well – and typically at a rate lower than your local bank – we also have an extremely diverse portfolio of programs that are risk-based and individually tailored. This means we can almost always help you when your bank cannot.
GU Loans has literally hundreds of programs. Each one is specifically designed to fit particular credit scenarios or equipment types. There is no one best loan option that works for every situation. You should, therefore, schedule a free consultation with one of our loan officers to find out which option is best for you.
Yes! GU loans has loan programs that require no payment for up to 120 days.
Yes! GU loans offers several programs for both nonprofits and religious institutions.
No! However, many vendors refer their clients to GU Loans, in order to provide their clients with easily obtainable financing, great rates, and the best customer service in the industry. So if your vendor referred you to GU Loans, there is a good reason for that!
GU Loans is not owned by the bank that referred you to us. Many banks know they cannot help every client because of the highly restrictive guidelines under which banks are forced to operate. Sometimes the only way the loan officer or your bank can help you is by referring you to us. GU Loans is honored every time a competitor refers their client to us.
Remember GU Loans has many no document programs that are similar tto the Trade Credit Platform program. The Trade Credit Platform typically requires six months business bank statements, two years tax returns, three years financial statements, and accounts payable and/or accounts receivables statements.