Financial business

Taycor Financial Corporate Finance Review

Taycor Financial offers working capital for business owners with low credit and limited time in business, as well as equipment financing for more established businesses. A wide range of available amounts and repayment terms can make Taycor Financial an attractive option for businesses with stable monthly revenues, although quick, sometimes daily, payments can be difficult to follow.

  • What Taycor Financial offers

  • Who is eligible for financing from Taycor Financial?

  • Taycor Financial Review: Pros and Cons

  • Faq

What Taycor Financial offers

Taycor Financial offers several options for working capital and equipment financing. Here is an overview of your choices.

Rising

Term

Rates

Costs

Term loans

$ 5,000 to $ 1 million

4 to 60 months

Factor rate from 1.1 to 1.38

Original fees up to 5%

Credit line

$ 10,000 to $ 1 million

6 to 18 months

Factor rate from 1.1 to 1.35

Original fees up to 5%

Merchant cash advance

$ 5,000 to $ 500,000

2 to 24 months

Factor rate from 1.15 to 1.45

Original fees up to 5%

Accounts receivable factoring

$ 5,000 to $ 5 million

Not provided

Not provided

Not provided

Financing and equipment rental

$ 5,000 to $ 2 million

12 to 84 months

4.2% to 28% APR

Documentation costs (undisclosed amount)

equipment lease-back

$ 100,000 to $ 1.5 million

24 to 60 months

6.5% to 28% APR

Documentation costs (undisclosed amount)

Term loans

Taycor Financial term loans are available between $ 5,000 and $ 1 million with repayment terms between four and 60 months. Taycor Financial uses factor rates to calculate interest on working capital products, including loans, lines of credit, accounts receivable factoring, and advances. To determine the total cost of financing, you multiply the factor rate by your loan amount. The factor rates for term loans range from 1.1 to 1.38. For example, if you borrow $ 100,000 at a factor rate of 1.1 (100,000 x 1.1), you will owe $ 110,000 over the life of the loan. Term loans also come with a set-up charge of up to 5%. Borrowers will need to make daily or monthly payments.

Credit line

Business lines of credit are available from $ 10,000 to $ 1 million. A line of credit would allow you to borrow money as needed from a set amount. Maturities range from six to 18 months with a weekly or monthly repayment schedule. The factor rates for lines of credit range from 1.1 to 1.35. Lines of credit also have origination fees of up to 5%.

Merchant cash advance

Businesses with relatively large credit card sales volumes could take out a cash advance of between $ 5,000 and $ 500,000. A cash advance comes in the form of a lump sum financing and Taycor Financial would take a fixed percentage of the company’s daily or monthly credit card sales as a refund. The terms range from two to 24 months and the factor rates range from 1.15 to 1.45. Cash advances have an origination fee of up to 5% of the amount of the advance.

Accounts receivable factoring

Similar to a merchant cash advance, accounts receivable factoring would give borrowers access to a lump sum in exchange for selling your invoices to Taycor. As they are paid, Taycor Financial will collect a portion of the invoice amounts as a charge and send the rest to you. Accounts receivable factoring is available between $ 5,000 and $ 5 million, but the company does not disclose additional details on the cost of factoring or repayment terms. Lenders typically finance up to 80% to 90% of the invoice value.

Financing and equipment rental

Taycor Financial offers financing and equipment leasing between $ 5,000 and $ 2 million with repayment terms between 12 and 84 months. Interest ranges from 4.2% to 28% APR. Taycor Financial also charges documentation fees based on individual financing agreements.

equipment lease-back

A sale-leaseback typically allows business owners to sell equipment and then lease it to the buyer. You could sell the equipment for cash, but make lease payments to continue using the equipment. Taycor Financial sale and leaseback agreements are available between $ 100,000 and $ 1.5 million with lease terms of 24 to 60 months. APRs range from 6.5% to 28%. Borrowers also have to pay documentation fees.

Who is eligible for financing from Taycor Financial?

Eligibility requirements vary by product, but businesses typically need to be up and running for a few months and generate consistent monthly income to be eligible for funding. Here’s a breakdown of Taycor Financial’s minimum requirements:

Term loan

  • 500 personal credit score

  • $ 8,000 monthly income

  • Three months in a company

Credit line

  • 620 personal credit score

  • $ 15,000 monthly income

  • Six months of activity

Merchant cash advance

Accounts receivable factoring

Financing and equipment rental

equipment lease-back

Taycor Financial can also review applicants’ bank statements and tax returns. If approved, you could receive financing within four to 24 hours of the lender’s decision.

Taycor Financial is aimed at companies in the following sectors:

  • Construction

  • Franchise

  • Health and fitness

  • Industrial equipment

  • Impression

  • Restaurants

  • Software

  • Packing material

Almost all financing options require business owners to provide personal collateral. A personal guarantee makes the borrower personally responsible for repaying the debt in the event of a business default. Accounts receivable factoring, merchant cash advances, equipment financing, and leasing are the only financing options that may not require a personal guarantee.

Taycor Financial Review: Pros and Cons

Before applying for financing from Taycor Financial, consider these potential positives and negatives.

Advantages

The inconvenients

Several types of financing are available with low credit requirements.

The list of products is not clear on the lender’s website.

Small and large quantities offered.

Equipment loans over $ 400,000 may require additional documentation.

No prepayment penalty on certain financing options.

Funding time would be based on your loan amount. Taycor Financial may take longer to review requests for larger amounts.

Faq

  • Does Taycor Financial require a deposit to finance the equipment?

    Taycor Financial provides 100% equipment financing to eligible business owners. However, an equipment rental would require you to pay the first and last payment in advance.

  • Can I repay my debt early?

    Yes, Taycor Financial allows borrowers to prepay equipment financing. You won’t have to pay prepayment penalties, and you may be able to save on interest by paying earlier.

  • Are there flexible repayment terms?

    Equipment financing has several repayment options: monthly, 90-day deferred, seasonal, quarterly, semi-annual and progressive payments. A graduated schedule would allow you to make smaller payments at the start of your lease or loan and gradually increase the amount over time.

  • Where is Taycor Financial located?

    Taycor Financial is based in El Segundo, California. The lender also has offices in Irvine, California, and Boston. Taycor Financial has nearly 30 years of experience providing commercial loans to borrowers nationwide.

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