Working Capital

Working capital when you need it.

Our quickest and easiest loan solution, designed to provide businesses with quick access to working capital loans of up to $350,000.

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Get pre-qualified
quickly.

Our newest and quickest online, self service loan options provide fast funding up to $350,000 without all the paperwork. With lower interest rates and longer repayment terms than alternative online lending products – plus the support of an in-house team of experts – our FLASH and LIGHTNING loans are ideal for those with good personal and business credit scores and can be prequalified quickly without affecting your personal credit score.

Flash and Lightning Loans are Best for:

These loans are ideal for businesses that want working capital to grow their business. Our online application features the easiest SBA application process and accelerated approval times, plus it offers longer terms and lower interest rates than other online alternative solutions.

Flash and Lightning Loans vs. Merchant Cash Advance

There are several differences between an MCA and our Flash/Lightning loans. Key differences include interest rates, repayment terms and payment frequency. Our loans have ten year fully amortizing terms with monthly payments. The repayment schedule for an MCA is much shorter with higher payments that are drafted as frequently as daily.

TypesRatesTermsPayment Frequency
Flash/Lightning LoanPrime Plus 2.75% to 3%10 YearsMonthly
Cash Advance15% to 350%1 to 3 YearsDaily or Weekly
Minimum Qualifications for Flash and Lightning
  • Eligible Small Business per SBA guidelines
  • Minimum credit score of 675 with no previous bankruptcies in the last 10 years
  • At least 24 months in business
  • No outstanding lawsuits
  • All income and payroll taxes are current (No tax payment plans)
FlashLightning
Maximum Loan Amount$150,000$350,000
Minimum Gross Revenue*$150,000, loan amount can’t exceed 33% of gross revenuesN/A – must have sufficient cash flow to repay the loan
Minimum Net Income*$0N/A – must have sufficient cash flow to repay the loan
Term10 years10 years
Interest RatePrime plus 3%, adjusting quarterlyPrime plus 2.75%, adjusting quarterly
Closing Costs$350$350
Bank Fee$2,150$2,150

*based on the most recent business tax return

Funding in 4 Simple Steps

Apply Online/ Pre-qualification

Complete the online application any time of the day. We will perform a  pre-qualification that will not affect your personal credit score.

Submit Documentation

If you meet our pre-qualification requirements, you will receive an email with a link to our portal to upload the needed documentation. We will review the documentation and your application, which may require us to request some additional items. We will also send you a request to pull tax transcripts (IRS Form 8821) for your business. Once all documentation is accepted and tax transcripts are received, your loan request will be submitted for approval.

Approval

When your loan is approved, you will receive an email outlining details of your offer. You can receive your offer as quickly as the same day your loan was submitted for approval. Upon acceptance of your offer, the loan will be submitted to SBA. SBA may take up to 3 business days to approve the loan. Upon approval, you will be sent closing documents to sign through Docusign.

Funding

After receiving your signed closing documents, we will fund your loan within one  day so you can start making your business dreams a reality.

We make progress, not excuses.

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Colony Bank offers a wide array of services to support you, from personal banking solutions to specialized lending options. Whatever your financial needs, we will help you every step of the way.