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Guide to Find Funding for a Consulting Business

  • Apply in under 2 minutes
  • Get funds as fast as 24 hours
  • Applying won’t impact your credit score
By Erin Ryan Social Community Manager, Senior Writer and Editor at Fast Capital 360 Reviewed By Mike Lucas
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Loan Overview

  • Coins stacked on table with blue arrow pointing up
    Loan Amount Up to $500,000
  • Calendar image appearing as though the page is being flipped
    Estimated Repayment Terms 1-5 Years
  • Speedometer icon
    Interest Rate Starting at 7%
  • Dollar sign in circle
    Speed of Funding As fast as 1 day

Consultants provide their clients with the advice and guidance they need to get their business on the right track. But when the time comes for consulting businesses to seek help, where can they turn?  

Regardless of the industry, running a business requires hard work, planning and meticulous attention to detail. There are many moving parts to a consultant business — and many of those components come with a price tag. 

When you need funding for your consulting business, whether for marketing or office space, here’s what you need to know.


Reasons to Apply for a Consulting Business Loan

When you run a consulting business, you might find you have short- or long-term needs that require a capital investment. 

Here are a few reasons consultants pursue financing:

Make Large Purchases

Whether you need to upgrade computers or other equipment, acquire a company vehicle or make some other significant investment in your operations, a business loan can help.

Market Your Business

The Small Business Administration (SBA) recommends that small businesses spend 7%-8% of revenue toward marketing. You may consider financing, whether you want to invest in paid media, search engine marketing, social media or just want to revamp your website.

Pay for Rent 

If you experience lulls in business and work out of an office, sometimes finding the funds to keep your doors open can be challenging. In times like these, funding for your consulting business can help you get through a temporary slow period and keep things running as usual.

Cover Utilities and Other Operating Expenses

Not only do you have to keep your doors open to stay in business, but you need to be able to keep the lights on, air conditioner going and the water running, among other things. That’s likely several thousand dollars each month, and it can add up fast. Sometimes a short-term financial lift can maintain the status quo. 


Best Financing and Loans for a Consulting Business

Here are a few of the best business funding options for consultants:

SBA Loan

An SBA loan for consulting business owners is funding that’s guaranteed in part by the SBA, which typically means less risk for lenders. For borrowers who have been denied conventional bank loans, this is an option with competitive rates and terms.

Business Term Loan

If you have a large, one-time expense, a business term loan could be a good option. Loans can be short-term, with repayment spanning a few months, or longer in term, paid back over several years.

Working Capital Loan

A working capital loan, or “bridge loan,” is an umbrella term for many different types of short-term financing. They bridge gaps in funds when revenue is experiencing a temporary low.   This type of financing can be used to pay rent, cover an emergency expense and more.

Business Line of Credit

If you want a flexible financing solution that’s there when you need it, consider a business line of credit. If you’ve ever used a credit card, you have an idea of how a line of credit works: Get approved for a certain limit. Use your credit line when you like (or don’t). As you use it, pay it down and your credit line will be restored up to the original limit.

Merchant Cash Advance

If your credit has seen better days and you need capital fast (in some cases, within a day of approval), a merchant cash advance could be your answer. This alternative financing has less stringent requirements because terms are shorter, payments are typically daily and interest rates are higher than other forms of funding.


Estimate terms for every type of financing

Loan qualifications

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    Time in Business 1+ Year
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    Annual Revenue $200,000+
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    Credit Score 560+

Loan qualifications

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    Time in Business 1+ Year
  • icon
    Annual Revenue $200,000+
  • icon
    Credit Score 600+

Loan qualifications

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    Time in Business 1+ Year
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    Annual Revenue $75,000+
  • icon
    Credit Score 540+

Loan qualifications

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    Time in Business 2+ Years
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    Annual Revenue $160,000+
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    Credit Score 620+

Loan qualifications

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    Time in Business 1+ Year
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    Annual Revenue $150,000+
  • icon
    Credit Score 600+

Loan qualifications

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    Time in Business 4+ Months
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    Annual Revenue $100,000+
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    Credit Score 500+

Loan qualifications

  • icon
    Time in Business 2+ Years
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    Annual Revenue $50,000+
  • icon
    Credit Score 650+

Loan qualifications

  • icon
    Time in Business 1+ Years
  • icon
    Annual Revenue $75,000+
  • icon
    Credit Score 540+

How much do you need?

Estimated Interest Rate

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Payments

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    This is an estimation tool that provides a range of possibilities depending on creditworthiness and terms selected. Terms can be adjusted to increase or decrease your payment. To see all our loan calculators click here.

    Payments

      Total Repayment:
      Cost of Loan:
      This is an estimation tool that provides a range of possibilities depending on creditworthiness and terms selected. Terms can be adjusted to increase or decrease your payment. To see all our loan calculators click here.

      How much do you need?

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      This is an estimation tool that provides a range of possibilities depending on creditworthiness and terms selected. Terms can be adjusted to increase or decrease your payment. To see all our loan calculators click here.

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      Loan Term

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        Total Repayment:
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        This is an estimation tool that provides a range of possibilities depending on creditworthiness and terms selected. Terms can be adjusted to increase or decrease your payment. To see all our loan calculators click here.

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          This is an estimation tool that provides a range of possibilities depending on creditworthiness and terms selected. Terms can be adjusted to increase or decrease your payment. To see all our loan calculators click here.

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          Invoice Due In (Weeks)

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          This is an estimation tool that provides a range of possibilities depending on creditworthiness and terms selected. Terms can be adjusted to increase or decrease your payment. To see all our loan calculators click here.

          How much do you need?

          Estimated Factor Rate

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          Payment Frequency

          Total Repayment:
          Number of Payments:
          This is an estimation tool that provides a range of possibilities depending on creditworthiness and terms selected. Terms can be adjusted to increase or decrease your payment. To see all our loan calculators click here.

          How much do you need?

          Estimated Interest Rate

          %

          Loan Term

          Payments

            Total Repayment:
            Cost of Loan:
            This is an estimation tool that provides a range of possibilities depending on creditworthiness and terms selected. Terms can be adjusted to increase or decrease your payment. To see all our loan calculators click here.

            How much do you need?

            Estimated Interest Rate

            %

            Loan Term

            Payments

            Total Repayment:
            Cost of Loan:
            This is an estimation tool that provides a range of possibilities depending on creditworthiness and terms selected. Terms can be adjusted to increase or decrease your payment. To see all our loan calculators click here.

            Where to Find Funding for Your Consulting Business

            Many business owners turn to conventional lenders, such as banks and credit unions, when they need a loan. While they can offer competitive rates and terms, their qualification requirements can be difficult for many to meet. Time to funding also can be lengthy. 

            Another option is an alternative lender. Although they offer less competitive terms, they work with many business owners to help them secure funding, whether they’ve been turned down for a bank loan or they need capital fast.


            What You Need to Apply for Funding for a Consulting Business

            Whether you need an SBA loan for your consulting business, a business line of credit or  short-term financing, Fast Capital 360 can help. Let us show you how. 

            Minimum Requirements:   

            • 500+ FICO score
            • 6 months in business
            • Annual revenue of $120,000 

            What You’ll Need to Get Started:

            • Basic information about your business and yourself 
            • 6 most recent monthly bank statements

            Apply Through Fast Capital 360

            Here’s what sets us apart:

            Quick and Easy Application

            Get started by completing our easy 2-minute online application.

            Multiple Offers

            We partner with reputable lenders throughout the U.S. That means you could have several funding offers come your way.

            Expert Advice 

            A Fast Capital 360 Business Advisor will reach out to review your offers so you can make an informed decision about the best financing option for your consulting company.

            One application. Multiple loan offers.

            Quickly compare loan offers from multiple lenders without impacting your credit score.

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