Novapex – Loan Terms

At Novapex, we provide customized funding solutions designed to help your business grow. Below are our primary loan programs and their corresponding terms.

1. Working Capital Loan

Purpose:
Ideal for covering day-to-day business expenses such as payroll, inventory, or short-term cash flow gaps.

Loan Amount: $10,000 – $500,000
Term Length: 6 to 24 months
Repayment: Daily or weekly automatic payments
Interest Rate: Starting at 1.19 factor rate
Funding Speed: As fast as 24 hours
Requirements:

• Minimum 6 months in business
  
  

• $10,000+ monthly revenue
  
  

• No open bankruptcies
  
  

Best For: Businesses seeking quick access to flexible capital without long-term commitments.

2. Equipment Financing

Purpose:
For purchasing new or used equipment to improve operations or expand production capacity.

Loan Amount: $25,000 – $5,000,000
Term Length: 2 to 7 years
Repayment: Monthly fixed payments
Interest Rate: As low as 7.99% APR
Funding Speed: 3–5 business days
Requirements:

• Established business credit preferred
  
  

• Equipment quote or invoice required
  
  

Best For: Businesses in construction, manufacturing, transportation, or medical sectors needing reliable, asset-backed financing.

3. SBA Loan (Small Business Administration)

Purpose:
Government-backed loans are designed for long-term growth, real estate purchases, or business acquisitions.

Loan Amount: $50,000 – $5,000,000
Term Length:

• Up to 10 years for working capital
  
  

• Up to 25 years for real estate
  Interest Rate: Prime + 2.75% (variable)
  Funding Speed: 2–6 weeks
  Requirements:
  
  

• 2+ years in business
  
  

• 680+ credit score
  
  

• Solid financial history
  
  

Best For: Established businesses seeking low-interest, long-term financing options with flexible uses.

4. Business Line of Credit

Purpose:
Provides revolving access to funds to cover unexpected expenses or short-term opportunities.

Loan Amount: $10,000 – $250,000
Term Length: Revolving, renewable every 12 months
Repayment: Interest only on funds drawn
Interest Rate: Starting at 9.99% APR
Funding Speed: 1–3 business days
Requirements:

• Minimum 1 year in business
  
  

• Consistent revenue and cash flow
  
  

Best For: Businesses that want ongoing access to working capital without reapplying for new loans.

General Terms and Conditions

• Prepayment: No penalties for early payoff on most programs.
  
  

• Documentation Required: Government-issued ID, 3–6 months of business bank statements, and a business voided check.
  
  

• Use of Funds: Must be for business purposes only.
  
  

• Approval: Subject to underwriting review and creditworthiness.
  
  

• Disclaimers: Terms and conditions are subject to change without notice.