Creative Business Funding Solutions and Small Business Loans
With You Every Step of the Way.
Creative Business Funding Solutions and Small Business Loans
With You Every Step of the Way.
Types of Business Funding
We will develop a program that is right for your situation and needs. We will get you the funds you deserve! Below is a brief explanation of financing products we offer at Derk Cap.Don't be intimidated, we will work with you every step of the way. We can get you funds in as little as 24 hours.
An SBA loan is a type of financing that’s backed by the U.S. Small Business Administration (SBA), which guarantees a portion of the money businesses borrow through these loan programs. Therefore, the risk is lower for the lender, and the lender may be willing to extend money to businesses that it might not otherwise approve for financing. The interest rates on SBA loans can be competitive for well-qualified borrowers. What’s more, SBA loans typically range from $30,000 to $5 million and come with extended repayment terms—up to 25 years. SBA loans also feature more stringent qualification requirements. You should be prepared to wait up to a few months for an approval from the government. Having a personal credit score of at least 680 is recommended for these types of loans. Derk Cap will make it as painless as possible working with you every step of the way.
Derk Cap's working capital loan is short-term financing—typically a term loan, line of credit or invoice factoring—that can help businesses that need a cash infusion to cover day-to-day operating expenses such as payroll or inventory. Seasonal businesses, in particular, might benefit from a working capital loan during slow seasons when managing cash flow is a challenge. Working capital loan terms will vary depending on the specific type of financing you apply for and the risk you pose as a borrower. In general, though, working capital loans can range from $2,000 to $5 million and can satisfy A thru D borrowers. This is also ideal for startups initial cash injection.
Derk Cap Equipment financing can help your business finance necessary equipment, including small items like electronics and large manufacturing machinery (Yellow Iron). Loan amounts depend on the cost of the equipment being financed. While lenders typically finance between 80% and 100% of the equipment costs, it’s typical for them to also require a down payment of about 15%. Terms range between three and 6 years. This type of financing is also offered as A+ to D risk paper.
There are 2 types of Equipment financing. Operating and Capital Leasing. There are pros and cons to both but operating leases are treated as off balance sheet leasing. So, they are treated as a rental. This offers tax advantages with monthly write-off. Consult with your CPA to this regard. A Capital Lease offers ownership at the end of the term. This is ideal for those that see balance sheet benefit. A yearly write-off is also possible under section 179. Its a long term loan where its an asset treated as a liability. Again, consult your CPA.
A business line of credit offers a flexible way to borrow money when you don’t know the exact amount of funding you need upfront. This is because borrowers can access a credit line between $2,000 and $250,000 on an as-needed basis, similar to a credit card. What’s more, you can reuse your credit limit as you repay it throughout the draw period, and you’ll only owe interest on the amount you borrow—not the entire approved limit. Unlike business credit cards, a business line of credit’s draw period eventually expires, typically within 12 to 24 months. Once the draw period ends, the repayment period begins, and you’ll have to repay any unpaid balances, plus interest. The repayment period can range anywhere from six months to five years. During this time, you’ll no longer have access to your credit limit for borrowing purposes.
Businesses that use an invoicing system to bill other businesses may be eligible for invoice factoring. With this type of business financing, your business sells its outstanding invoices to a factoring company. The factoring company then advances you a portion of the uncollected invoices (often 70% to 95%) and becomes responsible for collecting the outstanding invoices. After collection, the factoring company pays your business the remaining balance minus the factoring fees. Factor fees typically range from 0.50% to 5% for each month an invoice remains unpaid. Invoice factoring is a handy financing method for startups and new businesses that don’t have a strong credit profile yet.
A merchant cash advance (MCA) can be an easy way to access short-term financing when your business needs money FAST. Derk Cap can usually fund withing 24 hours. Business owners give the lender a business bank account 3 or 4 month history. Like invoice factoring, your loan will likely be about 80% of the average monthly deposits. The loan is Zero interest and fees(cost of the loan is built into the total owed. This amount plus fees are repaid through automatic clearing house (ACH) payments on a daily or weekly basis. For A+ paper, a monthly payment is possible depending on the lender. MCAs may be a good option for businesses that experience a high volume of sales and need to access cash quickly—without qualifying for a traditional business loan.
About Us
Experienced and Reliable
Derk Business Capital is a family owned business located in beautiful Western New York. Member owners include David and Kimberly Derk. With almost 35 years combined experience in business, finance, banking and real estate, the Derk's decided to put their talents into helping small business find the capital they need to grow in their industry. Mid March 2020, they hit the ground running establishing a new company called Funded Partners, which they worked in the evenings to get off the ground.In January of 2022 the business grew to the point to take it to the next level and Derk Business Capital LLC was born! At that time they decided to relocate to their roots and hometown; the burbs of Buffalo, NY.
David Derk, Founder, Member Partner and pushing sales efforts. David owned and co-owned several companies including Town Loans, Inc, Town Loans employed over 100 loan officers and and had 18 branches across the USA. He has directed and grown successful companies over he past 2+ decades. Small business loans, SBA loans and employee retention credit processing is his direction now.
Kimberly Derk is Director of Operations and Member Partner. Kim is involved in every aspect of the company from marketing, sales as well as the books. Kim was a Realtor selling several $1mm+ homes in Orange County, California. She also worked in finance as a specialist for government lending and insuring. Her eye for detail is invaluable to the company.
Our Mission
Derk Business Capital is committed to establishing strong relationships with our clients, lenders, and partners. We will do this by providing the best financing solutions available through small business loans, sba loans and employee retention credit processing to business owners while creating a positive association with business financing. Through our streamlined process, educated team of experts and lenders, we support business owners ability to create new opportunities. Derk Cap is proud to empower the heartbeat of our country; our small businesses.
Our Vision
To help business owners generate growth through opportunities with simple small business loans that they deserve.
Business Funding Explained
Please contact us if you cannot find an answer to your question.
Small businesses make up almost half of the private workforce in the United States—creating two out of every three new jobs. If you’re a small business owner, securing a business loan can help you start or grow your business, purchase necessary equipment or finance working capital needs. Understanding how business loans work can help you find the right loan for your business, which can be a lifeline when used responsibly.
Derk Cap business loans provide business owners with financing either as a lump-sum payment or credit line. In exchange for this funding, your business agrees to repay the money it borrows over time, plus interest and fees. Depending on the type of business loan, your lender may require daily, weekly or monthly payments until fully repaid. Additionally, business loans are either secured or unsecured. Secured loans require collateral— something of value the lender can repossess if you fail to repay—to back the loan, like real estate, equipment, cash or investments. Unsecured loans, however, do not require collateral. Instead, you typically have to sign a personal guarantee agreeing to accept personal liability if the business doesn’t repay its debt as promised.
You can use business loans for many different purposes. When you apply for financing, however, you will usually need to let the lender know how you intend to use the funds. Common uses include:
- Startup costs
- Commercial real estate purchases and/or remodeling
- Cash flow for everyday expenses
- Debt consolidation or refinancing
- Equipment purchases
- Inventory purchases
- Business acquisitions
- Business expansion
- Business franchising
- Marketing and advertising
- Refinancing
You may notice a key type of purchase missing from the list above—personal expenses. In general, lenders will not allow you to use business loans to cover personal costs like residential home purchases (unless business investments like property portfolios, rentals or fix and flips), personal vehicles or other transactions that aren’t related to a business need.
Contact Us
Contact Us
Get in touch!
If you have a questions at all, drop us a line. Call, text or email us. We'll get back to you soon with the right small business loans for you.
Derk Business Capital LLC
David Derk: Dave@DerkCapital.com Direct: 562.253.6415 Kimberly Derk: Kim@DerkCapital.com Direct: 949.520.0522
Hours
Monday - Friday: 8am - 6pm
Saturday: 9am - 1pm
Sunday: Funday
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