Frequently asked questions

Frequently asked questions we see the most regarding credit, business loans, or the process!

I have bad credit will that stop me from getting approved?

Yes and no. Our minimum credit to qualify is 500. However, if sales are greater than 25k each month we can get an approval below 500 credit score! Keep in mind the better the credit score the greater the approval will be.

How long does the process take?

Once the application is completed and the last 3 months of business bank statements are received. We will have an update/offer within 24 hours.

Will my credit score be affected?

No! Our credit checks are all soft pulls and will not affect your credit score. We do not do hard credit checks.

when will funds be transferred into my account after approval?

When everything is completed (contracts signed, bank account verified) funds will be wired into your account within 2-3 hours. We do same day funding!

Is there a certain deposit volume each month my business needs to get approved?

Yes! To get approved the business must deposit $15,000 or more in each of the last 3 months. In addition there also has to be a minimum of 5 deposits into the account.

How long does the business have to be active for an approval?

For our MCA option the business must be active for a minimum of 6 months. We don’t do start up funding. For our Line of Credit options the business must be active for at least 2 years.

I have another position would that be okay?

Yes! We fund first positions all the way up to 5 positions.

What are the interest rates?

Each capital option program has different rates and rates also depend on the type of file. Business term loans generally are 5-15% APR. As our Merchant Cash Advance for lower credit businesses are 1.15-1.39 factor rate. Line of credit 1.5% of funds used.