We offer two popular types of business funding for qualified borrowers: working capital loans up to $5 million and business lines of credit up to $250,000.

You can apply for business funding online, which provides the convenience of submitting your application from your desktop computer, tablet, or mobile device. Our application only asks for basic information about you and your business.

Our application requires some basic information about you and your business. You must also provide three months of business bank statements to complete the application. Your Northshores Capital account manager will inform you if additional paperwork is necessary.

We look for specific credit scores when evaluating applications as part of the decision-making process. We prefer a credit score of 500 or higher for a working capital loan. For a business line of credit, we look for a credit score of 630 or higher. Please note that other criteria will be considered, such as your company's annual revenue and time in business.

If you submit your application during our regular hours, 7 a.m. to 4 p.m. Pacific Standard Time, we will review your information and contact you with a credit decision to discuss the next steps. If you submit your application after hours, we will give you a credit decision on the next business day.

Northshores Capital has some of the most competitive interest rates among nonbank business lenders. If your application is approved, your interest rate is based on the verified information you provide on your application, along with your credit history and the amount of funding requested.

One key advantage of selecting Northshores Capital for your business funding needs is our fast turnaround times. Once your application is approved and we have the documentation needed, your working capital loan or business line of credit will be funded quickly. Same-day funding is available for loans and credit lines in specific transaction amounts.

A working capital loan from Northshores Capital can be used for various purposes essential to maintaining and growing your business. Typical uses include covering day-to-day operational expenses, purchasing inventory, managing cash flow gaps, investing in marketing efforts, and hiring additional staff.

A business line of credit from Northshores Capital provides anytime access to funding up to a predetermined limit that can be used for a wide range of business-related expenses. You can draw funds to purchase inventory, cover operational costs, or fill cash flow gaps, and you only have to repay what you borrow, plus interest.

Yes. It is possible to obtain both a working capital loan and a business line of credit simultaneously, provided your business qualifies. If you are considering applying for both financial products, discuss your options with your Northshores Capital account manager for guidance.

A working capital loan from Northshores Capital has monthly payment plans from 6 to 60 months. A business line of credit from Northshores Capital has two repayment options for repaying draws: weekly or monthly. Your account manager at Northshores Capital is available to discuss these payment terms in greater detail and answer any questions you may have.

Yes. Once your payment plan is initiated, you can make additional payments or settle your remaining balance ahead of schedule without incurring any prepayment fees.

If you have any questions that are not addressed on our FAQs page, please get in touch with the Northshores Capital support team. We are here to assist you!