Step-by-Step Guide: How to Get a Small Business Loan for Your Startup

A small business loan for your current business, or even your startup can seem near impossible to tackle. Especially now as the US is still reeling from COVID-19 and many businesses are trying to find a way to keep their doors open and weather the storm.

However, we don’t think that cash flow should ever stand in the way of your business growing, which is why we offer small business loans for established businesses, startups, expansions, and more!

Alternative business funding through Probably gives you the ability to reach your business goals and grow the way you want. Many of our clients use their business funding to invest in equipment, employees, marketing, construction costs, rent, and more. Because we don’t attach strings to your small business loan – we let you use it exactly how you want and how you need it.

Probably Makes the Small Business Loan Process Short

1-Page Application

If you have heard horror stories about stacks of paper and hours of signing your name, don’t worry! Probably wanted to be a better business funding option, and we started with our small business loan application.

Our application is just one page and can be filled out in just a few minutes. We will then contact you to get to know your business, your needs, and how we can best help your business. And our name doesn’t just come from anywhere, we are called Probably because we can Probably help you get the small business loan you need.

Just fill out our application, speak with one of our team members, and be on your way to the small business loan you need. Short, simple, and sweet. Every step of our process is meant to make applying for your small business loan transparent and easy, and credit decisions are always rendered quickly. We think that’s how business funding should be.

Probably Makes the Small Business Loan Process Simple

3 Months of Business Bank Statements

We don’t require mountains of paperwork in our application, and we don’t require you to show us mountains of past bank statements either. Instead, we made our small business loan process simple too.

Simply 3 months of business bank statements if you are an existing business or contact us if you are a startup. Every business got its start at some point, and we want to help you on your business journey by getting you the small business loan you need today. Most banks refuse to consider startups or new businesses, but Probably will work to help you grow regardless of your age.

Plus, we offer no prepayment penalties, and instead offer prepayment (or early payment) discounts on our small business loans. These prepayment discounts can be anywhere from 6 to 25% off the original cost of funds depending on your business loan amount. Do the banks do that?

Probably Makes the Small Business Loan Process Fast

Funds as Quick as 1 Business Day

Probably can fund your business as quickly as one business day! From quick business loans for startups to equipment loans for existing businesses, we have an option that will perfectly fit your needs. And we will get you the funds right when you need them.

Whether you need a small business loan to bridge a payroll gap, buy more inventory, rent, taxes, or other periodic charges and fees, we can get you the funds your business needs immediately. Because what good is a small business loan, if it comes too late?

We look forward to making your small business loan process short, simple, and fast with Probably.

Contact Probably Today for Your Small Business Loan

With an easy application process, fast approval in as little as one business day, repayment for up to 18 months, and small business loans anywhere from $5,000-$2,000,000 – we can most certainly work with you.

Or, better said, we can Probably work with you!

Contact us today or apply online to get your small business loan underway. We cannot wait to partner with you and your business.


Loans for Small Business [8 Questions to Always Ask]

Loans for small businesses can seem difficult and complicated, but they don’t have to be! In fact, we think that with a few simple questions, just 4 for you and 4 for your lender, you can find the perfect small business loan for your needs.

Questions for Yourself

1. Why Do You Need the Capital?

In other words, why do you need a small business loan? Knowing and being able to articulate the loan purpose will help answer some other questions about which loan option might be best, timelines, and more!

The purpose of your small business loan will help you identify if you want a short-term working capital or bridge loan. Knowing these basics, how much you need, and timeframes are essential to getting a loan that will fit you and your business needs.

What are the benefits of a short term loan versus something long term? Generally, the shorter the loan term the higher the payments, but the lower the total cost. As longer-term loans typically have lower payments, but the total cost includes more interest accrued over the life of the loan.

2. What Size Small Business Loan Do You Need?

No, ‘as much as I can get’ is not the right answer. The right answer is “just enough.” Strategically borrowing “just enough” will allow you to pay it back within your means. Look at what your needs are and consider your return – how much more money can you make with additional capital?

Also, knowing how much capital you need can help you narrow down your lender options, as some lenders may specialize in larger or smaller loans than your need. Many lenders may specialize in certain loan sizes or in certain industries. Alternative lenders offer more flexibility with loan amounts, while banks typically lend much higher amounts.

3. What Is Your Credit Profile?

Your credit profile can really make a difference – and this includes your personal credit score and your business credit score, coupled with your business’ cash flow. We call this the “health” of your business. Many business owners do not even know their business credit profile, so it’s important to understand how it works and how it can be improved.

Your business credit profile is important because your personal credit score might not always be an accurate measure of your business. Also, remember that different lenders have different scales for creditworthiness.

4. How Quickly Do You Need the Capital?

Again, this is a straightforward question that can have a large impact on what type of loan you get for your small business. Do you need capital now or want the relief of knowing you’re approved for capital? Then a working capital or bridge loan may be best, as these have faster turnaround times. Timely access to capital is valuable.

Understanding not only why you need a loan, or how much you need, but when you need it is the last foundational question you should ask yourself before moving into any application process.

Questions for Your Lender

1. Do You Work with My Business & Industry?

Some lenders specialize in specific industries, or, they may have industries they do not work with. Just like knowing the loan amount you need can help you narrow down who you work with, knowing what industries they have experience with can help your process as well.

Ask this question early so you don’t waste your time with lenders who do not have the experience or expertise working with companies like yours.

2. What is Your Application Process & Timeline?

If you need the capital quickly and you find the perfect lender with competitive rates, great communication, and the perfect terms, but they cannot get you the loan you need in the timeframe you need – then they really aren’t the perfect lender for you. Be sure you ask about their application process and its timeline in the beginning, so you know if they fit your basic requirements even before you get into the deeper details.

3. What Are Your Small Business Loan Terms?

This, and the next question, are some of the most important, as the length of time you have to pay back your small business loan amount, and what the total price will be, are paramount.

Ultimately, shorter terms equate to paying more over a shorter period of time, while longer terms equate to paying less over a longer period of time. And though paying off your loan as quickly as possible saves you money in the long run, you have to make sure it is realistic too. A working capital loan for inventory can be paid back quickly, while a small business loan for an expansion or second location will most likely have a longer term.

4. What Are Your Interest Rates & Total Costs?

Make sure the communication on interest rates and total costs are clear and the lender is transparent, as good communication is key in any business transaction, but especially when loans, terms, due dates, and fees are involved.

Contact Probably to Learn More About Working Capital Loans & Small Business Loans

We look forward to partnering with you, your business, and helping you reach your growth and goals! Contact us today to learn more or apply online today!


Working Capital Loans & Bridge Loans: All You Need to Know!

Probably can provide your small business with the working capital loan you need for equipment, payroll, inventory, marketing, taxes, and more! We want to get you the working capital or bridge loan you need to help grow your business and bring your goals in reach.

We want to make working capital loans for businesses simple, easy, and successful. That’s why we believe in clear and transparent loan terms.
We work with you to find the perfect working capital loan for your business. Whether you need a little or a lot, our business loans deliver.
Probably works hard to deliver working capital loans that give you quick access to the funds you need to invest and grow your small business.

We make getting a fast working capital loan easy with our simple process, flexible options, and quick access to the funds you need. But before you get a working capital loan through Probably, let’s make sure all of your questions are answered.

What Is a Working Capital Loan?

A working capital loan is a short-term loan that is generally used until you secure permanent financing or remove a current financial need, like inventory, taxes, or a cash flow issue that will be resolved in the future.

Working capital loans ultimately get you the immediate capital you need now – not weeks from now. Our working capital loans have longer terms of 18 months instead of the usual 12 from traditional banks.

Here’s the short and sweet of working capital loans:

  • A working capital loan is a financing option used until your business gets long-term financing or no longer has a specific bill or debt.
  • Working capital loans are short term, typically less than 12 months, but with Probably, repayment can be made over 18 months.
  • Working capital loans, or bridge loans, are often used for small businesses to bridge gaps in cash flow.

What Are the Benefits of a Probably Working Capital Loan?

Our working capital loans have a faster application process, faster approval and faster funding process than traditional loans. In addition to speed, Probably’s working capital loans have a term of up to 18 months, giving you time to pay back the loan amount. Plus, with Probably, there are never any prepayment fees.

Probably can get you approval in as fast as one business day, with loan amounts from $5,000-$500,000*.

We help new businesses build a credit profile. Our working capital loans are based on your current business performance, not years of credit history. Because we believe working capital loans for startups are just as important as loans for long-standing businesses. Most banks refuse to consider businesses without long credit histories, but Probably will work to help you grow regardless of your age.

We have no prepayment penalties, ever. In fact, we offer prepayment (or early payment) discounts! These can be anywhere from 6% to 25% off the original cost of funds depending on your loan amount.

*Approval amounts and repayment terms are subject to final credit review and approval.

How Can Working Capital Loans Help Your Business?

We understand that every business is different, which means that every working capital loan is different. Probably’s working capital loans can be used for a multitude of expenses, but some of the most common are:

Purchasing Additional Inventory

Additional inventory could be needed, even if you don’t have the capital on-hand. That’s where a Probably working capital loan can come in to bridge the gap and get your business the inventory it needs today.

Helping Bridge Gaps in Payroll

If you need capital for payroll, then waiting a week or more simply isn’t an option. Your employees depend on your payroll, and you can depend on Probably to get you the working capital you need quickly.

Investing in Equipment

Buying new equipment can be a big investment, but sometimes you need to spend money to make money. If you need a working capital loan to invest in your industry-specific equipment, we’ve got you covered.

Paying Taxes or Other Periodic Debts

Sometimes infrequent fees pop up when you least expect them, rent comes at an inopportune time, or taxes and quarterlies add up faster than you had planned. Use our working capital loan to pay for the surprise.

Investing in Marketing or Advertising

Marketing can be expensive, and if your marketing efforts need to be bumped up during certain times of year, then having the working capital you need is a must for a successful campaign.

Probably Can’t Wait to Say ‘Yes’ to Your Business Loan Needs!

We want to provide a new kind of working capital loan, a better kind. Contact us today to learn more about our loans, services, and history.

We want to help your business reach its goal – because Probably is all about you and your business.


Working Capital Loans 101

Probably’s working capital loans are meant to help businesses reach their goals because we believe that cash flow should never hold you back. But with over 45% of small business loan applications being rejected, many businesses get stuck with their second or third choice, meaning subpar lenders, shorter terms, and higher rates.

Our working capital loans give you the freedom to choose the best loan with everything you need to help your business grow! Our customers use their working capital loans to invest in their business’s short term needs and to ensure they can weather any storm.

Probably wants to help you grow your business faster and succeed. Learn everything you need to know about working capital loans here!

What Are Working Capital Loans?

Working capital loans are loans that can help businesses finance their everyday operational needs. From purchasing additional inventory, to assistance with payroll, investing in new, small equipment, paying taxes or other fees, rent, marketing efforts, or just general cash flow hurdles, working capital loans are meant to bridge the gap between what your business needs right now and what it currently has.

Working capital loans are usually short term, not multi-year loans, however, that doesn’t mean you can’t still get a great solution that works with your seasonal and industry needs. In fact, Probably offers repayment terms of up to 18 months for our working capital loans, instead of the industry standard of 12 months or less.

How Working Capital Loans Work

Sometimes bills fall just a few days too early, or you need more inventory to fill a large order. Maybe your payroll is due before your outstanding invoices have been paid. When schedules don’t quite work out, that’s when a working capital loan can greatly help you meet your business needs.

If a business does not have enough cash on hand to cover day-to-day or weekly operational expenses, then looking into a working capital loan might be the solution. But it’s good to understand the process and the best lenders before you ever need a loan. That way you can make a quick yet informed decision and get your funds sooner.

Just like many loan forms, a working capital loan includes three steps: application, funding, and repayment.

First, you will apply for your working capital loan, which with Probably, is a simple and streamlined process. Next, you will receive your working capital in as little as one business day. And finally, you will repay your working capital loan according to the terms and rates you agree upon.

Though this process sounds simple, many lenders bog it down with additional paperwork, wait time, and confusing terms. Make sure you choose a working capital loan that works for you, and a lender who is willing to partner with you, be clear, and be flexible.

Benefits of Working Capital Loans

One of the main pros of a working capital loan is that it requires less paperwork and is faster in most cases than a loan through traditional lenders. This is helpful if you are using it to bridge any capital gaps in your day-to-day or weekly operational needs.

Additionally, usually, working capital loans are a form of debt financing that doesn’t require an equity transaction, so you still have full control of your business. Furthermore, working capital loans do not require any collateral, called ‘unsecured’ loans, and are in the business name.

Working capital loans with Probably are based on your current business performance, not years of credit history, and your on-time payments with Probably help build your business credit.

Contact Probably Today for Your Working Capital Loan & Get The Business Funds You Need Sooner!

Ultimately, a working capital loan is a great choice for bridging the gap between operational and day-to-day needs, but only if it is through a great lender.

Contact Probably today to get started on your working capital loan.