![]() ![]() If you aren’t sure what type of loan would be best for your photography business, a representative from SMB Compass can help guide you with that decision. Rates on all loans are competitive, terms are flexible, and customer service is excellent. Products include SBA loans, business lines of credit, business term loans, equipment financing, invoice factoring, and more. Some lenders only offer one or two lending products, but SMB Compass offers nine. ![]() Startup photography businesses will not qualify for funding from Backd To qualify, you need to have at least $300,000 in annual revenue, to be in business for at least two years, and 640+ FICO score. Terms are unlimited with this type of funding, and no collateral is required, either. If you need access to funds on a regular basis, Backd offers business lines of credit from $10,000 to $750,000. Payments can be made daily, weekly, or semi-monthly, whatever is best for your business model. ![]() Terms are 16 months and no collateral is required. Whether you want to build a physical location, market your business, or hire more employees, Backd can help you get the funding you need with either a working capital loan or a business line of credit.Ī working capital loan from Backd ranges from $10,000 up to $2 million. They tailor their loans to meet each individual business, making them ideal for photography businesses. And if you default, you are held liable for paying the loan back.īackd was founded in 2018 and has funded more than $1 billion to over 10,000 small businesses. The only downside is the loan will be in your name, not your business name. A personal loan doesn’t have as strict income requirements, and can still get you the funding you need for your business. If your business isn’t meeting the annual revenue requirement, Lendzi also offers personal loans. You also need to be in business for at least six months and have an annual revenue of $180,000. Factor rates start at just 1.15 and the minimum required credit score is 500. Working capital loans from Lendzi allows you to borrow up to $400,000 with terms of three to 15 months. Whether you need to purchase new cameras and equipment, purchase a photography studio, or simply pay for additional marketing expenses, Lendzi can help - even if your credit score isn’t quite as high as you’d like. Lendzi is both a direct lender and a lending marketplace, meaning they partner with over 75 other lenders to help you find the best loan for your photography business. If you don’t have bad credit, you can still apply with Lendzi and get an excellent loan. Lendzi was founded in 2020 and works with borrowers with high revenue that have been denied a loan elsewhere. ![]()
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