Our FAQ Page

Frequently Asked Questions

Below is a list of common questions about the financing solutions we offer, general questions about the business lending market and various other questions we come accross frequently. Our goal is for you to make an informed decision and to truly understand the differences between the business lending market and the banking industry. But most importantly, we want to help your company acheive it's' goals!

Where is your company headquarters located?

BLS Finance is headquartered in Charlotte, North Carolina, USA. Charlotte is a major financial center in the United States, with many of the country's major banks headquartered here. We also have affiliates in Toronto, London, Melbourne and Vienna to support the arrangement of a select range of business financing products at an international level.

My company has open tax liens. Can I still qualify for funding?

If your company has open tax liens, we can help. Ideally, you will want to be in one of two positions: either your company has a payment plan in place with the government or you are currently settling the tax debt issues and they have not gone to public record status yet. If your tax debt has an open lien (showing on public records) and you do not have a payment plan arranged with the IRS or local government, we may not be able to help.

Can you refinance my business loan(s) and/or cash advance(s)?

Simply put, yes. We are pioneers in debt consolidation and refinancing. We are highly experienced and understand the underwriting requirements involved in consolidating business debt, so if you find yourself in need of our services, please feel free to call or email us any time. Most of our clients on this program have moved from high frequency payments and/or short term loans over to monthly payments and much longer terms.

Can you provide personal loans or mortgages?

No. Here at BLS Finance, we focus exclusively on funding small to mid-size companies and we deposit loan proceeds directly into the business operating account. With regard to real estate loans, we only work with loans on properties where the primary use is either for business or income-producing investment. We do not offer loans on properties where the borrower is an individual or where the property is residential.

Can you help me get funding for a startup business?

Yes, we can help with startup business funding; however, there are a few things to bear in mind before you call us: Since there is no business to leverage the financing against, underwriting will focus almost entirely on your personal credit profile. A 650+ FICO score is ESSENTIAL to be considered for this loan product. Recent charge-offs, bankruptcies, deliquencies, excessive inquiries etc. will also disqualify an applicant for a startup business loan. Please feel free to get in touch if you have any specific questions. We will be happy to help any way we can.

What countries can you provide business loans in?

Currently we are set up to fund small to mid-size companies with loan amounts up to $35,000,000USD in the United States, Canada, Australia, United Kingdom and select central European Union countries.

Can you help me buy a franchise or acquire another company?

If you are trying to acquire a business or purchase a franchise, we can help. However, it is important to note that we only loan money to businesses, not private individuals. Simply put, you will need to be a current business owner, with sufficient business income to support the size of your loan application.

What types of commercial real estate financing do you offer?

We can arrange commercial mortgages for companies purchasing real estate and/or refinancing. We can also bridge gaps with shorter term solutions, where companies need to hold a property on finance for up to 3 years. Examples would be: (1) A contractor or developer who builds houses. (2) An LLC with rental properties, looking to renovate. There are many other short term scenarios we can help with. We can also do cash-out refinancing on real estate for businesses in need of extra working capital.

What is your minimum loan amount on real estate?

This depends on the profile of the property and loan type; however, in general we do not offer loans on commercial real estate below $100,000. Given the costs involved in closing a commercial real estate loan, there is a threshold where an alternative loan product may be better suited to the situation.

What are your interest rates?

This depends on the profile of the loan and the financial strength of the borrower. A popular example would be our 'cash-out'' commercial property refinance program, with interest rates starting at US Prime, plus 1.00%. Another example would be our 'full-doc', mothly payment, unsecured 'working capital' loan program; where interest rates are starting at 6.9%.

What FICO score do I need to get a commercial mortgage?

Generally speaking, a 620+ FICO score is a good place to start -- however, we do have programs for borrowers which have no minimum score requirement. Good equity and good revenues speak volumes with commercial property loans and we have many clients with scores well below this level.

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