How long does it take to receive the loan funds? 

If you complete the online application, obtain underwriting approval, submit the required documents promptly, and accept the loan contract terms, you could receive the funds in your business or personal bank account as soon as the same day, in many cases. The exact timeline may vary depending on the specific circumstances of your application, but we strive to provide a fast and efficient funding process.   

Are there loan options available for startup businesses?

Yes, there are loan options specifically designed for startup businesses, which may have different lending requirements. The underwriting department will provide you with specific information on what is needed to apply for a startup loan. We understand that the financial needs of startup businesses can be unique, and we strive to provide tailored solutions to support your business's growth and success.

If you're considering applying for a startup loan, take the first step and apply online. The lending/underwriting department will contact you with more information. They can guide you through the process and help you determine the best loan option for your business.

What are the requirements for getting a business or cash advance loan?

The main requirement is that your business must have been operational for at least 4 months if you accept ACH payments, or 6 months otherwise. The underwriting department will review your average monthly deposits in gross sales/income and ensure that your business makes a sufficient number of deposits each month. ACH transactions can be counted as deposits. Additionally, your business must have its own dedicated bank account.  

What interest rate will be applied to the loan?
Unsecured Business Cash Advances, which are different from traditional loans, use a "Factor Rate" that is applied to the loan. The Factor Rate is the fee you will be charged for use of the money and the rate will be disclosed to you before you accept the loan terms.

It's important to understand the difference between a traditional interest rate and a Factor Rate when considering a Business Cash Advance loan. Our lending team can provide you with more information on how the Factor Rate will be calculated and applied to your loan.

SBA vs. Business Cash Advance?

SBA loans require a ton of documentation and a several page application, great credit, they may have you sign as a guarantor on the loan, have a proven successful business track record, hope you can win over the lender and then wait weeks or months and hope for the best that your application will be approved.
The Business Cash Advance that we arrange for you, 1 page application and minimal business documentation. Know within 24 hours or less on approval and loan amount. Have the money in your business bank account within 24 hours or sooner. 

What Is An Unsecured Business Cash Advance?

The cash advance that is made available to your business is what is known as an Unsecured Merchant Cash Advance. Sometimes also called an Unsecured Business Cash Advance. Essentially the business is be paid on its future income based on past business income activity.
It is money made available to your business that is not secured by a "personal guarantee", equipment, UCC-1 or tied to or business or personal assets. The money can be used for anything.
The Business Cash Advance is repaid through the business bank account and/or small ACH withdrawals when a customer pays for an item or service using a debit or credit card.