How can I quickly check if my business meets minimum lending criteria with an Eligibility Checker?

TL;DR: Term loans provide a lump sum with fixed repayments over a set period, ideal for long-term investments. Unlike flexible options, they offer predictable financial planning. Answer: Are you seeking a stable, predictable financing solution for a significant business investment or expansion? Term loans are business loans with a fixed repayment schedule and a predetermined end date. These tend to be long-term business loans, providing a single disbursement upfront and requiring regular, fixed payments. This structure makes them best suited for projects where you’re confident in your business's ability to consistently meet monthly payments. For businesses planning for sustained growth, term loans offer financial stability that differs significantly from short-term borrowing. Consider using our Eligibility Checker to see if a term loan aligns with your business's financial health and long-term goals.

TL;DR: Short-term business loans offer quick funding for immediate needs, typically repaid within a year, but often carry higher interest rates due to their speed and flexibility. Answer: Does your business require rapid access to capital for immediate operational needs or to seize fleeting opportunities? As their name suggests, short-term business loans are precisely engineered for urgent financial requirements. They are characterized by a repayment term of one year or less and are known for their quick funding disbursement. Unlike more traditional, long-term financing that supports extensive projects, short-term solutions prioritize agility. An important consideration is that interest rates for short-term business loans will usually be higher, reflecting the premium for the speed and flexibility they offer. To quickly check if your business meets our minimum lending criteria for such agile solutions, use our Eligibility Checker today.

TL;DR: A Line of Credit offers flexible access to funds for immediate operational needs or unexpected costs during acquisition, distinct from a fixed property loan. Unlike the lump-sum, property-specific nature of a commercial mortgage, a Line of Credit provides flexible access to capital, allowing care home owners to draw funds as needed up to a set limit. This alternative can be particularly useful for covering immediate post-acquisition working capital, funding minor refurbishments, or managing unexpected expenses that arise during the property transfer, rather than tying up a larger portion of your commercial mortgage for these variable costs. It helps maintain cash flow agility without directly funding the property purchase itself. Can your care home benefit from this flexibility? You can use our Eligibility-Checker to Quickly-check-if-your-business-meets-our-minimum-lending-criteria.

TL;DR: Equipment financing funds essential non-property assets for your care home, freeing up commercial mortgage capital for the property itself. While a commercial mortgage focuses on the real estate, Equipment Financing serves as a specialized alternative designed specifically for purchasing the crucial assets within your care home, such as medical beds, kitchen appliances, laundry systems, and specialized care equipment. Unlike a broad commercial mortgage that may cover both property and some fit-out costs, this option uses the equipment itself as collateral, making it a distinct and efficient way to finance these significant non-property expenditures. By separating equipment costs, you can potentially reduce the overall amount required for your primary commercial mortgage, optimizing your capital structure for the care home property acquisition. Are you wondering if your care home business qualifies for this? Use our Eligibility-Checker to Quickly-check-if-your-business-meets-our-minimum-lending-criteria.

TL;DR: Invoice financing turns your outstanding care home invoices into immediate cash, providing vital liquidity to support acquisition costs or bolster working capital. For care homes acquiring an existing operational business, Invoice Financing offers a swift alternative to generate immediate capital from outstanding patient or local authority invoices. Unlike relying on a commercial mortgage which is long-term property debt, this method allows your business to borrow against the amounts due from customers, providing crucial cash flow that can be directed towards initial acquisition expenses, bridging operational gaps, or reducing reliance on a larger upfront mortgage for working capital. This strategy provides short-term relief and financial flexibility by unlocking capital already earned but not yet received, accelerating your ability to manage acquisition-related financial commitments. Could this be a suitable option for your care home's financial strategy? You can use our Eligibility-Checker to Quickly-check-if-your-business-meets-our-minimum-lending-criteria.

TL;DR: A Merchant Cash Advance provides upfront funds in exchange for a portion of your care home's future credit and debit card sales, offering flexible repayment. Similar to how invoice financing leverages current receivables, a Merchant Cash Advance provides an alternative financing solution for care homes by advancing funds based on your projected future revenue, particularly from credit and debit card sales. Unlike a traditional commercial mortgage with fixed monthly payments, repayment for a Merchant Cash Advance is directly tied to a percentage of daily card transactions, offering a flexible repayment structure that adjusts with your care home's revenue flow. This can be a swift way to secure immediate funds for short-term acquisition-related costs, initial operational setup, or unexpected cash needs, without impacting your long-term property financing. Is your care home’s revenue stream suitable for this type of flexible funding? You can easily use our Eligibility-Checker to Quickly-check-if-your-business-meets-our-minimum-lending-criteria.

The Contigo Eligibility Checker offers an instant, obligation-free assessment of your business's suitability for funding by evaluating key financial indicators. It is a fast and simple online tool designed to **quickly check if your business meets our minimum lending criteria**. By answering a few fundamental questions about your business, such as its trading history, revenue, and industry, our intelligent system provides an immediate indication of your eligibility. This process saves you valuable time by giving you upfront clarity before you proceed with a full application, ensuring you focus on funding options that are truly available to you without impacting your credit score.

To use the Contigo Eligibility Checker, you'll need to provide basic details about your business's operational history, financial performance, and sector. When using the **Contigo Eligibility Checker**, you'll be asked a few basic questions to help us understand your business's foundational strength. This typically includes details about your trading history, such as how long your business has been operating, its average monthly or annual revenue, and the industry in which it operates. These details allow us to **quickly check if your business meets our minimum lending criteria** and provide you with an instant assessment, ensuring the process is efficient and straightforward for you.

Using the Contigo Eligibility Checker will not affect your business's credit score as it performs a soft inquiry, designed to provide peace of mind. No, absolutely not. The Contigo **Eligibility Checker** performs a soft inquiry on your business, which means it will **not** affect your credit score. We understand the importance of maintaining a healthy credit profile, and our tool is designed to provide you with an immediate indication of whether your business meets our minimum lending criteria without any adverse impact.

This allows you to **quickly check if your business meets our minimum lending criteria** with complete peace of mind before considering a full application, empowering you to make informed decisions about your business funding.

If your business is not initially deemed eligible by the Contigo Eligibility Checker, you can reach out to our team for personalized guidance and advice on strengthening your financial profile for future funding opportunities. If the Contigo **Eligibility Checker** indicates that your business is "Not Yet Eligible," please don't be discouraged. This simply means your business might not currently align with our *minimum* criteria at this specific moment. We recommend the following steps:

• Contact our team: Reach out to Contigo's financial experts for a personalized discussion. We can provide insights into specific areas for improvement.
• Review your financial profile: Focus on improving your business's financial health, such as boosting revenue, managing expenses, and ensuring timely payments to suppliers.
• Strengthen your trading history: Sometimes, having a longer, consistent trading history can increase eligibility.
• Explore alternative options: Based on our discussion, we might be able to suggest other paths or criteria adjustments you could work towards.

Our goal is to help you understand what’s needed to **quickly check if your business meets our minimum lending criteria** in the future, unlocking future funding opportunities.