Overview

Going by the motto 'every business deserves a chance, the LCF Group offers a range of lending options, from small business loans to customized out-of-the-box financing options for high-risk and hard-to-fund businesses.

In business for over a decade, LCF works with a range of businesses, including those from less conventional industries such as cannabis, pawn shops, and more. The experienced lender has helped over 8,000 businesses successfully qualify for funding.

LCF understands that in a fast-paced economy, businesses need access to working capital quickly. That’s why they pride themselves in providing convenient, fast funding. Business owners can fill out the quick online application in minutes. Approval only takes a few hours, and you can expect funding within 24 hours or less.

Features

LCF Business Loans offers a range of lending options, including:

Small Business Loan

A loan option tailored for businesses with a fixed or variable interest rate. The borrower repays the loan through monthly payments over a fixed period of time until the principal and interest are repaid.

SBA Loans

SBA Loans are guaranteed by The U.S. Small Business Administration. Businesses qualify if they can prove consistent growth over a number of years and have strong credit scores and credit histories.

Merchant Cash Advance

Rather than take out a loan, businesses can use a merchant cash advance to raise capital against future credit card sales. Although a merchant cash advance typically comes with higher costs, businesses may find eligibility requirements easier than other forms of funding.

Business Line of Credit

Similar to a personal credit card, a business line of credit provides revolving access to “ready cash” up to a certain credit limit. The size of the business line of credit will depend on your company's annual revenue. Businesses may also qualify for a line of credit with bad credit scores.

Invoice Factoring

Invoice factoring is a financing option in which small business owners exchange unpaid invoices for cash to receive short-term working capital.

Application Process

The LCF Group works with a range of businesses, even those that may not typically qualify for a traditional business loan.

LCF funds businesses from all backgrounds, including unconventional industries like cannabis or pawn shops. Even businesses with bad credit may qualify, as LCF works with merchants with sub-500 credit scores. They also accept tax liens or prior defaults. In addition, non-US residents with an ITIN, work visa, or green card may qualify.

The initial application only takes five minutes to complete online. Eligibility will depend on the financial health of your business as well as the loan type.

To apply for a loan, you may need to provide some or all of the following documents:

• Business and personal tax returns
• Business bank statements
• Personal and/or business credit history
• A business plan identifying how the money will be spent
• A personal credit report
• A personal guarantee by the business owner that they will be responsible for paying back the loan in the event the business defaults
• A pledge of collateral (such as real estate or other business assets)

Qualifying for a small business line of credit (up to $20,000) may only require a review of your credit profile. For larger amounts, business owners may need to submit financial statements, tax returns, and bank statements for several years of operations.

Repayment Terms

LCF Business Loans offers a range of funding options with flexible repayment terms.

Small business loans come with flexible repayment terms. It really comes down to what you can afford to repay. When applying, consider your monthly budget and how quickly you can repay the full loan amount.

A business line of credit usually has flexible repayment terms. However, keep in mind that unpaid balances will accrue interest based on the credit terms.

With a merchant cash advance, the business owner generally must repay on a short-term basis (usually up to 12 months).

Customer Support

The LCF Group Headquarters

3000 Marcus Ave, Suite 2W15

New Hyde Park, NY, 11040

Customer support is available from 9 AM to 6 PM EST, Monday through Friday. You can reach support by filling in an online contact form through the website. Support is also available by email at info@thelcfgroup.com and by phone at 888-499-2939.