We offer three flexible financing options, including term loans with low monthly payments, no prepayment penalties, and faster decisions compared to traditional banks.
Our streamlined small business loan process makes it easy to discover the right financing options for your business at no cost or obligation, with no effect on your personal credit score
Once you’ve uploaded your documents, your Account Manager will reach out directly to discuss your financing needs and funding options.
Once you’re approved for and accept our offer, we’ll finalize the processing of your loan and deposit the money directly into your bank account.
Our Business Term Loan offers set monthly payments and no prepayment penalties, making it highly flexible for various business needs, such as cash flow management, equipment financing, and other expenses. Applying for this loan does not affect your credit score, and timely repayment helps build good credit for your business!
Moderately good credit is typically needed to qualify for a Funding Circle Business Term Loan. However, if your credit isn’t perfect, we offer other business financing options through our network of lending partners, including a Business Line of Credit and an SBA 7(a) Loan.
An Icarus Fund Term Loan offers several key benefits for your business. You can check your eligibility without any hard credit pulls, ensuring your credit score remains unaffected. If approved, you can receive funds the same day, providing quick access to capital. Additionally, on-time payments are reported to business credit bureaus, helping you build a strong business credit history.
Let’s connect over a virtual coffee.
One of the biggest benefits of our Business Term Loan is its versatility – once you’re approved, you can use your funds for almost any business purpose!
A business term loan is one of the simplest financing options available to small business owners. Approved borrowers receive an upfront lump sum from their lender and repay it on a fixed schedule.
With Icarus Fund's term loan, you can receive funds in your bank account on the same day you're approved.
A term loan can be used for nearly any business purpose. Designed for flexibility, Icarus Fund’s Business Term Loan helps you achieve various short- and long-term goals, such as hiring staff, purchasing equipment, covering payroll, and renovating or expanding your location.
Term loans are ideal for established businesses with a solid credit history and several years of operation. For businesses needing funds quickly, term loans offer a faster alternative to the lengthy application processes of traditional banks or the Small Business Administration (SBA).
With asset-based lending, you can power your business with flexible funding secured by using existing business assets such as inventory, machinery and equipment, and/ or real estate. These loans often have lower interest rates, which means you are more likely to save money over time.
Asset-Based Lending (ABL) and Traditional Lending are two distinct forms of financing that differ in their underlying principles and structures. Here are the key differences between the two:
Asset-Based Lending (ABL):
Collateral: ABL is secured by specific assets owned by the borrower, such as accounts receivable, inventory, equipment, or real estate. The lender evaluates and monitors the value and quality of these assets, which serve as collateral for the loan.
Focus on Asset Value: ABL places significant emphasis on the value and liquidity of the borrower’s assets. The credit limit or loan amount is determined based on a percentage of the appraised value of the eligible assets.
Borrowing Availability: ABL provides a revolving line of credit, allowing the borrower to borrow and repay funds within the established credit limit as needed. It offers flexibility in accessing working capital based on the value of the eligible assets.
Traditional Lending:
Creditworthiness: Traditional lending primarily evaluates the borrower’s creditworthiness, financial history, and ability to repay the loan. It relies on factors such as the borrower’s credit score, income, business history, and financial statements.
Fixed Loan Amount: Traditional loans provide a fixed loan amount disbursed upfront. The loan is typically repaid over a predetermined period with fixed monthly installments.
Collateral and Personal Guarantee: Traditional loans may require collateral, such as real estate or equipment, depending on the loan amount and terms. Additionally, personal guarantees from business owners or directors may be necessary to secure the loan.
Overall, the key distinction between ABL and Traditional Lending lies in their approach to collateral and the primary factors considered for loan approval. ABL focuses on the value and liquidity of specific assets, while Traditional Lending emphasizes the borrower’s creditworthiness and financial history. ABL offers more flexibility in borrowing against assets, whereas Traditional Lending provides a fixed loan amount based on creditworthiness and repayment ability.
We specialize in unique asset-based lines of credit and provide working capital by leveraging accounts receivable, inventory assets, and even intellectual property, to companies that generate between 2M to 100M of revenue per year.
Asset-based Lending typically offers advance rates on collateral of up to:
Do you have any questions? Write and our specialists will answer you.
