SMM Services
We Can Now Lend to
More Industry Types
Denali funding opportunity
You know us as the #1 lender to restaurant and hospitality businesses, but many of our partners ask, “have you considered lending to more industry types?” The answer is yes. We’ve recently created a new loan product specifically designed for businesses other than restaurants. Below is an expanded list of the business types we can now lend to.
Denali Unsecured Loan vs. Merchant Cash Advance
RATES UP TO 36% LOWER THAN INDUSTRY AVERAGE
Most businesses have limited choices when it comes to obtaining capital. The most common is a merchant cash advance (MCA). As shown in the table below, an unsecured business loan from Denali Financial is far superior to a merchant cash advance!
Denali Loan for Expanded Portfolio |
Typical Merchant Cash Advance |
|---|---|
| Rate = 1.25 (annualized = 25%) | Rate = 1.35 to 1.40 (annualized = 47% to 70%) |
| Fixed term = 12 to 36 months | Variable term = 6 to 9 months |
| Loan amount based on total sales (cash & credit card) | Advance amount based on credit card sales only |
| Fixed weekly payments | Daily variable payments |
| Flex Pay – 50% principal deferment into the future for lower payments now | No |
| Line of Credit = Yes, up to 5 drafts for 6 months | No |
| Early payoff options are available | No |
| Interest paid is tax deductible | No |
Minimum Requirements
Time in Business
Business must be open and operating for at least 2 years under the same ownership.
Annual Sales
Business must generate at least $200,000 in net annual sales.
Credit Score
Guarantor’s Equifax credit score must be 601 or higher.
Bankruptcy
Bankruptcies whether business or personal must be discharged for 12 months or more.
Other Requirements:
Loan amount is capped at 7.5% of net annual sales. Business cannot have more than 7 NSFs in the current month. Tax liens cannot equal 20% or more of monthly sales. Lease must be current if applicable. Click here for a list of prohibited industry types.
