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Reduce Cost of Money

Loans are excellent tools, but why pay more than necessary? Whether you have one high-interest loan or several smaller loans, there are ways you can reduce your monthly payments and free up valuable cash for your business. We can help you explore refinancing, consolidate loans, and position your business to qualify for better rates.

Consolidation Loans

If you have several loan payments due each month, consider bundling your debts into one consolidation loan.

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SBA loans

Consider refinancing certain types of high-interest debts through the Small Business Administration’s 7(a) loan program.

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Financial Positioning

We can help you strengthen the aspects of your business that lenders like to review closely.

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Credit Repair

If your business credit isn’t what you want it to be, we can help you transform it.

Financing Details

Consolidation Loans

Consolidating your debt puts all of your loans with one lender so that you have one monthly payment instead of many. You’ll also have one interest rate, and that rate could be lower than what you’re paying now.

Consolidation is especially helpful if your business is healthier than when you first took out your loans. For example, having a better credit rating and payment history could qualify you for a new, lower interest rate. Alternatively, if you are in the position to make higher payments, you can pay off the loan more quickly and avoid having to pay interest on the unpaid principal.

SBA Loans

In certain situations, the Small Business Administration will allow you to refinance high-interest debts through their 7(a) loan program. Companies should apply for this assistance when the original loan has unreasonable terms, when the original purpose of the loan would have qualified for SBA assistance, and when they can significantly benefit from refinancing.

To be eligible for SBA refinancing, however, a firm owner must have a credit score of at least 690, no payment lapses for three years, no federal loans, a clean criminal record, and a 10% down payment. If you qualify, you can also refinance other SBA loans, credit card debts, lines of credit, or even commercial mortgages.

Financial Positioning

Working with lenders daily makes us intimately familiar with what lenders look for in an application. We’ll help you take advantage of this knowledge to enhance your overall credit score. Work with us to pay down existing debt, reduce your monthly payments, convert short-term financing to long-term, and replace high-interest loans to position your business for the best rates on the market

Credit Repair Activities

Even the most successful businesses can end up in a financial bind. Poor credit history can make it difficult to borrow, buy, and qualify for low-interest rates. However, with a few simple steps and guidance, we can help you completely transform your credit.

We’ll assist you to identify trouble areas, find opportunities for credit growth, and learn time-saving techniques that can get you back on track fast. Once you’ve hit your goals, we’ll help make sure you stay there. Increase your credit score and open up more financing options by letting us help you repair your credit today.

Reduce The Cost of Money

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Advantages Of Reducing Your Montly Payments

Exploring ways to reduce your monthly payments yields many benefits. With our help, you can:

Increase your monthly working capital

Strengthen your credit history.

Become eligible for lower interest rates.

Identify and address previously unknown trouble areas.

F.A.Q.’s

Is consolidation different from refinancing?
Yes. Although both consolidation and refinancing can lower your interest rates, refinancing is simply replacing one loan with another. Consolidation typically combines several loans into one.
How does consolidation reduce my debt?
If you have multiple loans with different interest rates, consolidating them will give you one interest rate. This rate is typically the average of the interest rates you’re paying now. With our help, you may be able to qualify for even lower rates.
Does debt consolidation hurt your credit score?
Consolidation can temporarily lower your score. This is because the new lender will perform a hard inquiry to look at your current score. Consolidation also changes your average account age and adds a new credit account. These impacts, however, are normally temporary, and your score will increase shortly afterward.
Can I consolidate debt using an SBA 7(a) Loan?
Yes. In addition to refinancing your obligations, an SBA loan can be used to aggregate your debts into a single monthly payment, at a potentially lower rate.
Is repairing my credit safe?
Yes, we have vetted each of our network partners to ensure integrity, regulatory compliance, and trustworthiness. We don’t do business with informal providers or unlicensed lenders. If a specific tactic is not right for your business, we will tell you upfront. We provide transparency with our terms and will work to answer your questions until you are satisfied with the process.

Reduce Cost of Money

Get Started Today

Here’s how to get started:

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Fill out a Short Questionnaire

Your answers will help us get a good idea of where you want to go with your business. Whether you’re dealing with strained resources, leasing issues, or high-cost markets, we can help you secure the funds you need.
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Speak with One of our Brokers

After reviewing the questionnaire, we’ll talk with you and go deeper into the details of your financial situation. Once we understand what you truly need, we’ll hunt down the best offers for you, and arrange a discussion to present our findings.
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Recieve Customized Financing

We will work with you to answer all of your questions. Once you are satisfied and ready, we will help you with an official funding application process.

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Enjoy Continued Support

We understand that some forms of financing are complex, and may require advice beyond the initial application.  Our team of professionals stands ready to help you along every step of the way.

OUR ADDRESS

625 Kenmoor Ave SE Suite 301
Grand Rapids, Michigan 49546

PHONE NUMBER

616-229-4548

SUPPORT MAIL

info@criticalfundinggroup.com
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