At Clear Skies Capital, we don’t just see you as another business owner—we see the potential for your business to thrive with the right financial support. Our application process is designed to make that happen, offering a seamless path from application to funding.
Here’s how it works:
After you’ve submitted your inquiry application through our website, you will receive an email from us within 10 minutes of your submission. If qualified, someone on our team will reach out to you for your initial consultation.
We DO NOT perform any Hard Credit Pulls upon you or your business when you submit a Credit Application.
1. Initial Consultation and Credit Application
Every great partnership starts with a conversation. We begin by getting to know your business and its unique needs through an initial phone call.
Example: A local restaurant owner wants to expand to a new location. During the consultation, we would get to know you and your business, the expansion and costs (permits, labor, equipment, materials, inventory, etc.).
After hearing from you, our Consultant will discuss our product offerings and address any questions you may have. If our products would be an appropriate fit for your needs/goals, we would request an Application Package which include the following:
- Recent Bank Statements: We typically request four months of statements.
- Clear Skies Capital Credit Application: The application can be emailed (scan with wet-signature), filled and submitted through our DocuSign, or faxed to 1-800-918-5560.
Note: Additional documents may be required, such as invoices for equipment finance requests.
2. Clear Skies Capital Application Review
Once we have your application, our underwriting team will review your package. This process can take about 1 business day and you should hear back from us with a pre-approval or decline. We carefully review all the documents you’ve provided to get an understanding of your business structure and financial position. This step is crucial because it helps us find the right solution that best fits your situation.
Here’s what we focus on:
- Monthly Cash Activity: We use the bank activity to see deposits, expenses/payments, withdrawals, and/or liability payments. Frequency, amount, and consistency play a factor.
- Daily Ledger Balance: We look at your average daily balance to get a sense of your cash position.
- FICO Score: Your credit score assists in determining the best funding product for you.
- Time in Business (TIB): A longer history often indicates stability and longevity, which can be a benefit to your application. TIB is based on Secretary of State filing records.
- Overdrafts and Non-Sufficient Funds (NSFs): Overdrafts or NSFs, weigh into the equation for determining approval amount.
By understanding these aspects of your business, we can work on finding the best solution in an efficient and effective manner.
Your application package combined with our initial discussion (understanding you, your business and needs), assists us in finding the best solution for you. It allows us to be a strong advocate for you, so that we can work on getting you the best possible solution for you. Lowest cost and highest amount.
Instead of YOU spending time trying to find capital and talking to various lenders and/or brokers, leave that work to Clear Skies Capital.
3. Pre-Approval
Within about 1 business day, you will hear back from us. This may vary depending on the complexity of your business and capital requested. If you are not pre-approved you will let you know as soon as possible, and will provide next steps if you wish to re-submit.
If pre-approved:
- Follow up call: Your consultant will reach out to you regarding your pre-approval(s) to discuss further details. Also, address any questions or concerns you may have at this time. Included on the call may be the following:
- Preliminary terms and conditions
- Preliminary amount
- Any Additional/Potential stipulations
- Other potential options
Up to this point, NO HARD CREDIT PULL HAS BEEN PERFORMED.
Next Steps: You would provide commitment to your Consultant, along with Drivers License and Voided check. This is needed during commitment to get agreements drafted.
4. Agreements and Final Review
Once we receive commitment from you, our team will proceed with obtaining an agreement. This will also trigger a final review of your application.
This process of will look as follows:
- Agreement Released: The agreement will be sent to you for review and signature.
- Additional Stipulations (if needed): There is a possibility that additional information or documents are required alongside the Agreement. Additional documents are on a case by case basis.
- Final Review:
- Confirming receipt of signed Agreement and Additional Stipulations (if needed)
- Review previously and newly provided documents
- Perform a Bank Verification
- Verify ownership of the Business
- On a case by case basis a hard credit pull may be performed here. If you have any questions, please ask your Consultant for further details.
In some cases, pre-approvals may be adjusted or revised based upon the final review.
Final review does not take long (less than 1-hour) after you’ve provided a signed Agreement and Additional Stipulations (if needed). Some circumstances may be longer than others. Once the review is complete, it’s time to celebrate. Just wait for your funds to come.
5. Disbursement
Here’s what happens next:
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- Funds Transfer: The funds will be transferred to your business account. This usually happens within one to two business days.
- Funds Availability: Once the transfer is complete, the funds are immediately available for your use. Whether you’re expanding your business, purchasing equipment, or managing cash flow, you can now execute your plans with confidence.
6. Ongoing Support
Receiving your funds is just the beginning of our relationship. As your business grows and evolves, we’ll be here to support you. Many businesses don’t have the ability to have an in-house finance or credit team. That’s where Clear Skies Capital comes in.
Your Bank is usually the first source for Capital, however, that sometimes doesn’t work well for each situation. After your Bank, look to Clear Skies Capital we want to help. Whether or not you need Capital now or just have a simple question or inquiry – just reach out to us. We’re here to help!