Service Business
Loans & Financing
From salons to hotels to marketing agencies, we can provide all types of small businesses with service loans.
Apply NowWe're a Funding Partner
with a Proven Track Record
Since 2008, we've grown with the companies we support.
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.
Learn Why Us-
Equipment
Buying equipment like computers, salon chairs, or furniture is made easier when you have a service business loan.
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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.
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Renovations
Making a space just right for your service business will help your brand grow. Use professional services business loans to customize your space.
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.
| Time 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 |
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.
Case Studies
Maintaining Momentum
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Funding Amount: $1,000,000
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Behavioral Health: Behavioral Health
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Use of Funds: Marketing Continuity
Delivering Certainty
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Funding Amount: $1,000,000
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Industry: Manufacturing — Transmission Solutions
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Use of Funds: Liquidity Support, Bridge Funding
Bridging Gaps
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Funding Amount: $150,000
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Industry: Manufacturing
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Use of Funds: AR Bridge, Working Capital
Green Growth
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Funding Amount: $125,000
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Industry: Landscaping
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Use of Funds: Working Capital
Scaling to Meet Surging Demand
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Funding Amount: $1,000,000
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Industry: Manufacturing
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Use of Funds: Facility Launch, Labor, and Materials
Strategic Recapitalization
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Funding Amount: $5,000,000
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Industry: Manufacturing — Building Products
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Use of Funds: Partner Buyout & Debt Recapitalization
Designing for Expansion
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Funding Amount: $250,000
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Industry: Interior Design
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Use of Funds: Market Expansion, Team Growth
Stocking Up for Growth
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Funding Amount: $60,000
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Industry: Retail
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Use of Funds: Inventory Purchase, Debt Consolidation
What Sets Us Apart from the Rest
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
Service Business Loan FAQ
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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.
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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.
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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.
Get Financing Today
Apply online in minutes and get an approval decision for your small business funding in as little as 4 hours.