Business Loans in New Jersey: JSV Capital vs. Traditional Lenders


When you are a small business owner, it is in your best interest to compare business loans before choosing just one. There are many forms of financing available and some will be more suitable for your business. All loans are different, so be sure to consider what JSV Capital can offer compared to more traditional lenders before deciding which route to take.

How to start

If you were to take out a traditional loan, you need to start building a reputation for your business before you even need the money. First and foremost, you need to make sure that your personal credit score and that of your business are as high as possible. Many businesses struggle with this first part because they don’t have a working capital loan in place. You must obtain a business credit card for your business before opening and making timely payments.

This credit card will usually need to be purchased from the lender you hope to work with in the future. Establishing a working relationship with a lender is essential as a solid foundation of trust is required to obtain financing. If a lender has no prior knowledge of your business, then you will have to face an uphill battle trying to get financing.

photo by Pickawood

How JSV Capital is different

It takes a lot of time and concerted effort to get working capital loans for small businesses from other lenders. With JSV Capital, you don’t have to worry about building up previous working relationships. The application process is quick and you’ll know whether or not you’ve been approved within 24 hours. With other lenders, you may have to wait weeks to find out that you have been turned down. We don’t leave you in the dark like that.

The application process

You need to make sure you dot your i’s and cross your t’s when filling out the paperwork for a traditional loan. In addition to the lengthy application itself, there are a lot of other documents you need to provide, including:

  • Personal summary
  • Income tax returns
  • Copy of rental agreement
  • Company certificates
  • Bank statements from less than a year ago
  • Franchise agreements
  • Ownership structure

You may need to provide a lot of documents depending on the type of loan you are trying to get. If something is left out or if something is incomplete, your business can be further affected. It may take weeks to hear that you need to submit something else. Hence, it takes even longer for your loan to be approved or denied.

Before applying, be sure to go to the right lender by knowing the following points.

  • Are there any hidden charges?
  • Always inquire about prepayment penalties. As a small business owner, being able to pay off your loan sooner helps. Ask if there are any early repayment penalties or discounts.
  • Know your personal and professional credit score before you waste your time with different lenders. Not all lenders will have bad credit. This will help you narrow your search. If you end up with bad credit, you may want to seek out other lenders who can help you.

How JSV Capital Funding Stacks Up

Our goal is never to get confused when you apply. You can view the application form, which is only one page long. The only documents you will need to send are bank statements for the past three months.

Payment plans

Small businesses need loans for a variety of reasons. No matter what it’s going to be used for, you need to make sure you pay it back as soon as possible. You can set up a payment plan with other vendors, but one issue that many business owners face is paying it off quickly.

The longer the loan repayment period, the higher the interest rate will have to be. Unfortunately, many banks and other traditional lenders require business owners to repay the loan between five and ten years. It might sound good, but it can be difficult if you want to avoid long term monthly payments.

Many online lenders have a similar process, but even with them, business owners have to pay it back over a period of six to 18 months. In fact, many traditional lenders go further with this practice and impose a prepayment penalty. This means that if you try to pay off your loan too early, you will have to pay fees in addition to the loan and the interest rate.

Short term program

We understand that sometimes a business needs a quick injection of money. This quick boost shouldn’t get in your way for years, which is why you can go for a duration of three to 36 months. We are committed to working according to your needs.

That means if you need more cash to do your payroll and can pay us back in a matter of months, we’re ready to work with you. However, if you have a long term project on the horizon and will need a lot of funding in the near future, we will work with you there as well. It’s like your working capital line of credit that you can use however you want. JSV Capital’s program is a real loan to use for your working capital solutions.


Generally, there are two types of loans offered by most lenders. These are secure and not secure. For a secured loan, the business must put something of value in place. Therefore, if the person does not adhere to the payment plan, the lender acquires the property as collateral. It is generally a vehicle, equipment or building,

Unsecured loans do not require any collateral. As a result, the lender faces a significant amount of risk. As a result, many lenders tend to avoid unsecured loans when possible.

Unsecured loan of choice

Since secured loans are much safer for lenders, they are more common. For businesses that don’t have enough collateral to put in place, it can be difficult to find financing. Fortunately, JSV Capital only deals with unsecured finance, which means you won’t have to post any collateral when you get finance with us.

How to use your loan

Some traditional lenders will want to know in detail what you will be using your business loan for. Some lenders are more lenient than others. Other lenders will have strict restrictions on what it can be used for. In many cases, your loan should be for a solid business purpose as defined by the Small Business Administration. This can get quite objective, making it more difficult to qualify for the funds you need.

How to use a working capital loan

You can use your loan to help your business grow and survive. Here are some of the things our previous clients have used their loans for in the past:

  • Cover the payroll in the event of a cash flow gap
  • Buy equipment and supplies when funds are short
  • Use funds as a bridging loan
  • Increase revenue through additional advertising

This list is only a small sample of what you can use your funding for. With other lenders, you should read the agreement carefully to make sure that you are not spending the funding on something that you are not supposed to do.

Build relationships with business owners

JSV Capital is dedicated to building genuine relationships with small business owners, and we want to help. You can start the application process today. As long as your business has been around for at least a year and has at least 10,000 revenue per month, we should be able to provide you with the financing you are looking for.

Main photo by Towfiqu barbhuiya

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