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Service Business Loans & Financing
From salons to hotels to marketing agencies, we can provide all types of small businesses with service loans.
We're a Funding Partner with a Proven Track Record
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What is a Service Business Loan?
There are many different types of service businesses from those in hospitality and hotels to those in necessities like laundromats and dry cleaners. A service business loan is a type of financing that helps any service-based business start their enterprise, run their operations, get supplies and equipment, and even help pay employees. These loans can be more like term loans or they can be something like a line of credit similar to a credit card. A service business loan can even help seasonal businesses
How a Service Business Loan Works
Service business loans give businesses like real estate agents, hair stylists, photographers, and hotel operators the resources they need to get their company going. Whether they need to lease a space, get a website setup, buy supplies, or hire other employees, these businesses are able to thrive with the right types of lending.
Use Cases
How To Use a Service Business Loan
Because there are different types of service-based businesses, there are also different kinds of loans. Most people think of SBA loans, but there are more options than that to help with service businesses.
Equipment
Buying equipment like computers, salon chairs, or furniture is made easier when you have a service business loan.
Expansion
Even service based businesses need room to expand. Getting the right professional services loan can give you the funds for new hires, more space, and operational expenses.
Renovations
Making a space just right for your service business will help your brand grow. Use professional services business loans to customize your space.
Why Apply for a Service Business Loan?
Invest in Advertising
Promoting your service business through advertising campaigns can take away from your operational expenses. Leveraging the funds from a professional services loan can help you get the word out and help you pay your bills.
Cover Payroll
It takes money to train and onboard new staff members. Using professional services company loans will give you what you need to pay your staff on time and cover the fees to hire and train new ones.
Additional Cash Flow
Many businesses need better cash flow. Using business loans services can free up more of your business cash do you can take care of daily expenses with ease.
Minimum Eligibility Requirements
Service and hospitality businesses have unique needs. That’s why we have lending products just for them. Here’s what you need to qualify for a service business loan with Fora Financial.
Minimum Requirements
| Time in BusinessTime in Business | Minimum 6 Months |
|---|---|
| Business Annual Growth Revenue | $240K+ Annual Revenue |
| Business Checking Account | Yes |
| US Citizen/Based Company | Yes |
| FICO Score | 570+ |
| Other Financing | None |
| Bankruptcies | None open |
Better Your Business With Fora Financial
Fill Inventory Orders
Pay for Business Expansion Plans
Hire Skilled Employees
Have Additional Cash Flow On-Hand
Invest in Advertising
Afford the Latest Business Technology
Case Studies
Featured Funding
Construction Growth
Funding Amount: $2,000,000
Industry: Construction
Use of Funds: Bridge funding
Featured Funding
Communications Expansion
Funding Amount: $1 Million
Industry: Telecommunications
Use of Funds: Expansion
Service Business Loan FAQ
How Do You Apply For a Service Business Loan?
It’s easy to apply for a service business loan. Gather financial details about your business together and fill out a quick application with a business loan lender like Fora Financial. You should hear back in 2-3 weeks to see if you’re approved and for how much.
Are Small Business Loans Hard To Get?
SBA loans are notoriously difficult to get. The good news is that they are not the only loan product out there. You can more easily get lines of credit and other professional services loans.
How To Get Approved For a Service Business Loan
Many companies require you to be in business for at least a year to qualify for a loan. However, some loan products are geared toward new startups. It’s best to apply when you have good business credit, a business plan in place, and your financial information in order. Apply today to see if you qualify with Fora Financial.
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Blackrock Consulting LLC provides business capital, including business loans and Revenue Based Financing, directly and through a network of unaffiliated third-party funding providers. All offers will depend on your business meeting at the time of submission our pre-qualification and/or underwriting criteria, which includes, but is not limited to, business & personal credit history, time in business, cash flow, revenue consistency, industry-specific underwriting rules. Business loans are offered by Blackrock Consulting LLC, by Blackrock Consulting LLC. Revenue Based Financing is offered by Blackrock Consulting LLC.