Working capital programs offer term loans and lines of credit for your business based on a personal guarantee. There are two types of programs, and each is tailored to the individual applicant. These programs do not consider your business or any collateral. Approvals are based on your credit score, income, monthly debt-to-income ratio, and debt utilization ratio. It's worth noting that anyone can apply, but spouses can cosign or co-apply.

Applicants can qualify for up to $200K (or even up to $400K+ for high-income earners). To qualify, each applicant's monthly debt-to-income ratio must be 40% or less, and debt utilization must be 20% or less. Additionally, the applicant must have sufficient income to demonstrate that they can take on the loan and afford to pay it back.

Both options are fast, have lower starting rates, and longer terms than most unsecured loans for businesses. Pre-qualifications can happen in 1 to 2 business days, and funding can happen in 5 to 10 business days. Also, the origination fee is paid out of the proceeds you receive, so you don't have to bring any money to the table upfront.

The lender will look at your tax returns, proof of income for this year, and your Credit Karma credit report, so there isn't even a soft pull. There is truly no downside to seeking a pre-qualification!