Small Business Loan Facts.

What types of business loans are being offered?

  • Short Term loans are a great option when you need to borrow money for a specific investment in your business, like starting a new project, expanding, or making a large purchase.
  • Line of Credit is the best financing option when you need extra working capital to cover recurring business expenses or bridge cash flow gaps. With ongoing access to cash, you have the flexibility to withdraw only what you need, when you need it—and pay for only what you use.

Credit criteria.

  • Annual Revenues: $100K
  • Time in Business: 1 Year
  • Personal FICO: 600

How much can I borrow?

  • Term Loan: $5 - 250K
  • Line of Credit: $6 - $100K

What are the repayment terms?

  • Term Loan: 3 - 36 Months
  • Line of Credit: 12 Month repayment term, but small businesses can pay back as early as the next day and would only get charged 1 day of interest

Is there a prepayment penalty?

We forgive 25% of outstanding interest if early repayment is made. So there is no penalty, but a potential benefit for a small business owner if a merchant needs to repay early.

What can I use the funds for?

Typically, our customers use our loans for inventory, marketing spend, hiring, expanding their business, renovations, PPE, etc.

How fast can you fund?

We can go as fast as same-day. On average, it’ll take 5-7 days depending on how fast applicants respond.

What is the typical turnaround on loan approval?

We can approve loans in as little as a few hours if we have all the required information.

What information do you need to complete an application?

We typically need 3 months of bank statements, and in some cases additional documents to prove your identity.

How long does it take to complete an application?

Most applications take less than 15 minutes to complete!

Do you run a hard or soft credit inquiry for the application?

We run a soft credit pull once the application is completed and submitted.
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