QUICK FACTS
- Loans from $50,000-$250,000
- Interest rates from 8%
- No prepayment penalties
- Loan terms up to 7 years
- Authorized lender with HUD, EDA, USDA and licensed SBA Small Business Investment Company
- We fund all types of businesses including Software, Services, Manufacturing, Retail
ELIGIBILITY REQUIREMENTS
- Sufficient cash flow to support monthly loan payments. (No pre-revenue companies or companies with current large losses)
- Good credit scores for the owners of more than 20% of the company
- Collateral may be requested depending on the strength of the cash flow
- No real estate loans or speculative finance businesses
APPLICATION PROCESS
- Initial screening: Send us the previous year’s business tax return, a brief description of your company and the use of the loan. We also need a signed authorization to run background and credit checks. Within 3 business days we will contact you with a decision to proceed with underwriting.
- Underwriting: The underwriting process averages 4 weeks after all of the necessary loan application documents are received.
- Closing: Loan documents and disbursement is usually scheduled within 5 business days of a loan approval.
We will help you with questions you have to complete the loan application.
Call Steve Grizzell 801 243-6674 or steve@innoventures.com
Office: 150 South State, Suite 100, Salt Lake City, UT 84111 www.innoventures.com
