That said, there are still plenty of loans designed for self-employed individuals, and as long as you provide proof of income, you can still qualify. Here’s everything you need to know about how to get a loan when you’re self-employed. Tips for qualifying for a loan As a self-em...
Do you think banks are always the best option when it comes to getting a loan? The answer could vary depending on the borrowers and their requirements. But if you are a real estate investor, you can’t depend on banks for loans as they have a long process, so you can look forhard m...
Get the capital your business needs– fast. Apply for a small business loan with Excel Capital: See What Your Business Qualifies For Full name Business name Email Phone Monthly gross sales
Find the best loan for you. Reach out today! Get Started Frequently Asked Questions How does a pre-approval affect my credit score? How long does a mortgage pre-approval last? What documents do I need for a mortgage pre-approval? Can the pre-approval amount change after it has been...
Lender requirements vary regarding how long a business needs to have been operating to qualify for a loan. Some lenders may lend to businesses that have been open for only six months. However, establishing your business over a long period of time will open more doors to business credit. ...
A banksmall business loanis a loan that a business owner receives from a bank. This can be a traditional loan that provides a lump sum of cash, or a more flexible option like a business line of credit. Bank loans typically offer low rates and long repayment terms but may be more diffic...
What is DSCR? DSCR or Debt Service Coverage Ratio is a number that loan lenders use to determine whether or not your business has enough money to pay back the debt in the future. It also helps to determine whether your business can afford to pay back the requested loan amount on time. ...
A debt service coverage ratio (DSCR) is a credit metric that measures how much of a company's operating income can be used to pay for its long-term debt obligations. Lenders often use the ratio as a measure of a borrower's creditworthiness. The ratio is sometimes referred to as the inte...
As a general rule, a DSCR of 1.15 - 1.35 is considered good. Using the Debt Service Coverage Ratio The main purpose of a DSCR is to assess a company's creditworthiness. Banks and other lending institutions use it alongside credit history while deciding whether to extend a loan, or may als...
The DSCR is also a more comprehensive analytical technique when assessing the long-term financial health of a company. The DSCR is a more conservative, broad calculation compared to the interest coverage ratio. The DSCR is also an annualized ratio that often represents a moving 12-month period....