This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Year Established:
01/20/2020
Member Since:
10/28/2022
Categories:
 

“We help entrepreneurs understand the confusing world of alternative financing, so they can grow their businesses and achieve their goals and dreams.”

 

About Us

The same way the Northstar in the sky guides people home when they are lost and confused, we guide you through the confusing world of alternative financing to a solution.  We have finance options & strategies that you or your banker may not even have heard of or don’t have access to. Let us share these innovative financing programs with you to help grow your business to achieve your goals and dreams.

We are finance professionals with over 20 years of expertise in the fields of small business ownership, finance, and real estate.  We take a consultative approach: learning about you and your business, so that we can offer the best customized solution possible.

Financing

Accounts Receivable Financing (Factoring):

Use unpaid invoices to get funds for your business today versus months.

Your Challenge:

  • You’ve done the work and now you wait to get paid.
  • You must wait 30, 60, or 90 days to get invoices paid.
  • Your business has grown so quickly that your cash flow is now compromised, despite good margins and profits.
  • Your cash flow crunch prevents you from taking on additional work.
  • Your credit may now be negatively impacted because of the above scenarios

Our Solution:

  • Get paid up to 90% of your invoice within days instead of months.
  • Shift all the responsibility of collecting your invoice to a lender.
  • More weight is placed on the credit worthiness of who your business is invoicing, rather than your credit.
  • Factoring allows your AR team to focus on taking care of business instead of on collections.
  • Programs for most industries.

Ideal for:

Businesses that would be better served by having funds in their hands today versus months from today.  Businesses who have commercial or governmental customers.

How it works

1

Answer basic questions about your business & provide supporting documents

2

Receive customized funding solutions

3

Cash is directly deposited into your business bank account within days

Commercial Real Estate Loans:

Short-term or long-term financing for the purchase or refinance of 1- 4 family homes, apartment buildings, mixed use, office space, shopping malls, warehouse or industrial.

Your Challenge:

  • You’ve waited weeks or months, only to hear the bank say No.
  • Your credit may have dropped during the waiting period & now you don’t qualify.
  • Maybe you made a large purchase like a car or boat, now your debt load is too high.
  • You have a small tax lien or judgement that was found during the background check.
  • You are a small business owner and don’t show enough income on your tax return.

Our Solution:

  • Up to a 90% loan-to-value on Fix & Flips.
  • Interest only options that keep your cost low while you rehab a property.
  • Terms range from 1yr, 2yr, 3yr, 8yr, 20yr, or even 30yr terms.
  • Tax returns may not be required.
  • Programs from $50,000 - $20,000,000

Ideal for:

Businesses or Investors having trouble getting financed through banks to purchase 1- 4 family homes, apartment buildings, mixed use, office space, shopping malls, warehouse or industrial.

How it works

1

Answer basic questions about you and the subject property & provide supporting

2

Receive customized funding solutions

3

Your real estate purchase is funded

Equipment Financing:

Financing for an equipment purchase and/or it’s installation.

Your Challenge:

  • Your bank doesn’t like the type of equipment your purchasing.
  • You are a new business owner and a bank isn’t willing to take a chance on you.
  • You have a 30 day late on a credit card.
  • You have a tax lien or judgement.

Our Solution:

  • Programs for all levels of credit, scenarios, and dollar amounts.
  • Terms up to 72 months for equipment.
  • Financing from $500-$20,000,000
  • Tax liens / judgements are no worries, especially if on a payment plan.
  • Pull money out of equipment that you own free/clear.
  • Most funding can occur within 5- 14 days after pre-approval.
  • Programs for startups.

Ideal for:

Businesses looking for competitive rates & terms on equipment.

How it works

1

Fill out our 1 page application, supply 3 months of business bank statements, and an equipment invoice

2

Receive customized funding solutions

3

Receive funding for your equipment and/or installation

Merchant Cash Advance:

You’re offered a repayment plan you can afford.  It is based on your business revenue and expenses when determining your repayment terms.  You’re not borrowing money, instead, you’re selling a portion of your future sales.

Your Challenge:

  • You have a bunch of negative days in your business bank account.
  • Your credit score is below 640 or you have a partner with lower credit.
  • You are a seasonal business and currently have low cash flow.
  • You just opened your business less than 2 years ago.
  • Your business is considered a restricted industry.
  • You need funding within 1-2 days.

Our Solution:

  • Several negative days are allowed in your bank account.
  • Funding offered down to credit scores of 450.
  • Payback can be structured around your business’s seasonality.
  • Minimum time in business is 3 months.
  • Almost any industry funded.
  • Possible quick funding within 1 day.

Ideal for:

Businesses that need funds quickly, have higher and more consistent bank deposits, and have been in business more than 6 months.

How it works

1

Fill out our 1 page application & supply 3 months of business bank statements

2

Receive customized funding solutions

3

Cash is directly deposited into your business bank account within days

SBA (Small Business Administration) Loans:

These loans are guaranteed by the Small Business Administration.  They offer some of the lowest rates in the market as well as long repayment terms (7-25 years).

Your Challenge:

  • Your local SBA lender turned you down.
  • Your debt service coverage ratio is too low.
  • You need to spread your loan over a term longer than 5 or 7 years.
  • You don’t have the down payment required by your bank.
  • You’ve been in business under 2 years.
  • Your credit score is below 640.

Our Solution:

  • We are partnered with many national Preferred SBA banks and non-banks.
  • Lower debt service coverage ratio allowed.
  • Terms can be spread over 10 -25 years, depending on use of funds.
  • Some programs offer 100% financing, depending on industry.
  • Startups are eligible for financing.
  • Our programs may be able to go down to a 600 credit score, with a supporting story.

Ideal for:

Business owners who have strong credit, can wait for a longer loan process, and have been in business over 2 years.

How it works

1

Answer basic questions about your business & provide supporting documents

2

Receive customized funding solutions

3

Cash is directly deposited into your business bank account

Unsecured Business Line of Credit:

Get the working capital you need to start and grow your business. It is a revolving line of credit like a how a credit card works.

Your Challenge:

  • You have strong credit, but you are a startup
  • You had unexpected expenses pop up.
  • You have no collateral to pledge for a loan.
  • You need funds for the short term.
  • You operate a seasonal business, so your cash flow dips occasionally.

Our Solution:

  • Receive a free consultation on what you qualify for.
  • No upfront fees.
  • Receive up to $150,000, depending on your credit profile.
  • 0% for up to 18 months.
  • Program only based on your personal credit.

Ideal for:

Startup businesses with strong credit or seasonal businesses.

How it works

1

Answer basic questions about your credit profile & provide supporting documents

2

Receive customized funding solutions

3

Get access to your unsecured business line of credit

Credit Repair

Get the working capital you need to start and grow your business. It is a revolving line of credit like a how a credit card works.

Your Challenge:

Our Solution:

Ideal for:

How it works

1

Answer basic questions about your personal credit

2

Receive customized  solutions

3

Put your customized plan into place and you’re on your way to better credit

Partners

Help your clients by referring them to NorthStar Business Funding.

NorthStar Business Funding regularly works  with bankers, finance brokers, CPAs, real estate agents, attorneys, all types of consultants, and many other experts who work with business owners daily.   We will guide your clients to funding options that will allow them to grow their businesses and achieve their dreams.

All we need is a warm introduction and we will do the rest.  Your clients will be treated as our own.  Once we put together a customized financing program and your client is funded, we will pay your referral commission.  It’s that simple!

Be sure to take a look at the Membership section for more detailed information on the Webster Chamber, such as: fees, upcoming events, benefits, and our application form. And feel free to reach out at 585‐265‐3960 for answers to inquiries not covered on the site. We look forward to seeing you soon!

Contact us