Applying for Small Business Loan

IOU Financial lends from
$10,000 to $500,000

Your time is valuable and limited so applying for small business loan through IOU Financial is given first recommendation for its simplicity. 

And look for customer rebate up to $599 for any these approved loan

Just a quick word on today’s small business loan market.  

MCAs (Merchant Cash Advances) became popular because they were the most readily available financing for retailers.     The MCA became popular for their super high approval rates and decisions within one business week.

But MCAs have their nagging drawbacks, their interest rates being top of that list.    These APRs may range from 25% to 45% for a 6-12 month term.   So these MCA funding deals would need to finance a project or trend that yields a good profit in the end.   Business owners normally have a good idea if the numbers look profitable.     But some businesses have accepted MCA financing, which didn’t yield a profit, because it was the only financing available for retailers.    

Another drawback, the Merchants have to change credit card processors.     This will be a disruption in your daily work & operation, even if it’s just temporary.

Applying for Small Business Loan is easier & less expensive with IOU.

Are you familiar with Kevin O’Leary of the Shark Tank TV series?   He partnered with IOU because he believes in small business.   Listen to his 60 second video. 

Why do Customers use IOU Financial?


47 %


18 %

Cash Flow

16 %


14 %


5 %

With IOU, you have a business loan program that’s almost completely automated online.    

These loans can range from $10,000 to $500,000.    You may request a 6-month, 9-month, 12-month, 15-month or 18-month terms with APRs 12.99%, 13.99% and 14.99% respectively.  Also, there will be a guarantee fee and 8.8% origination fee added in with the cost of borrowing.   

IOU has an 85% approval rate & will make a decision two business days after documentation is fully received.   

Once you apply and you pass the application phase, you are then asked for limited documents.    How many documents does a traditional bank require?  

Here are some basic documents that will be requested only after you pass a brief application and credit check. 

Submission Requirements are:

  • Most Recent 3 months Business Bank Statements but 12 months if business is seasonal,
  • Most Recent 1 year Business Federal Tax Returns – All Pages – All Schedules,
  • Primary residence mortgage or rent needs to be current,
  • Voided Business Check,
  • Valid Driver’s License,
  • 1 year in business 
  • 80% of ownership must be included in the application.

Cash Flow Requirements:

  • Minimum Average Daily Balance of 3K Per Month,
  • Minimum Volume Deposits of 10K Per Month,
  • Minimum of 10 Deposits Per Month, we can include processing transactions.
  • Gross $100,000 per year,
  • Allowable Non-Sufficient Funds activity: 5 in most recent month, 10 in recent 3 months, 15 in 6 months.

Bankruptcy in your history?

  • Your bankruptcy should be at least 2 years ago and you should have at least 2 re-established current accounts.

Special Circumstances:

Tax liens, tax extensions, multiple bank accounts, franchise status, current Merchant Advance will require a few extra documents and a call with your IOU account executive.

IOU will consider a low FICO

Businesses with constant or daily sales are preferred!

Life happens.  

If problems have occurred which resulted in a low credit rating then IOU will still consider your application.   Your FICO can be as low as 560.    IOU is much more concerned that your records indicate strong deposits and daily sales.                 

That sums it up for IOU ~

So if you...

want a business loan between $10,000 - $500,000 within 2 business days, you have good deposits and don't fall outside of any of the the State restrictions or restricted business types then consider IOU Financial!

Now, if IOU approves your loan and it works out well then they will gladly consider you for a renewal which will take 1 business day, not 2.  You now have a working relationship with them and that makes you the priority.    You can begin a renewal process as soon as your loan is 40% paid off.      

Can we reward you for using our recommendation?

We'd like to offer a customer rebate up to $599 for any approved loan

The below contact information is good between the hours of 8am through 9:30pm Eastern time Sunday -Thursday and 8am through 5pm Friday.

Henry Waxman

  • Phone# (484) 562-0421

Yes, I enjoy speaking after hours with people when the other staff members have left. :)

Again, call  Henry's number so we may reward you with a customer rebate up to $599 upon loan approval  

IOU Financial is a BBB member and your online application information is secured by TRUSTpilot.

IOU is  being given first recommendation since your time is valuable and limited.  However, if IOU is not a fit for you then there are other non-bank loans you may consider.   Just click on the side Business Loans tab.

One last thing...

"Business funding from Philadelphia to Pittsburgh, Pennsylvania"

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