Frequently Asked Questions
Short Term Loans / Short-Term Funding
Can you still get funding with bad credit?
Yes. Even if your credit is as low as 500 you can still obtain funding.
Can you still get in funding if you have NSF’s (Non sufficient funds) or Overdrafts?
Yes. As long as you do not have multiple overdrafts/NSF’s per week. Most lenders will allow up to 5-7 in a month.
What can I use the funds for?
These are unsecured loans so you can use the capital for whatever you would like.
Commercial Bridge Loans
Do I have to have great credit to get funding on this product?
No , you can have low as a 500 score.
Do my financial have to be stellar to get the full approval?
No, you can still obtain a full approval without having the best financials. If they’re average or below average you can still get funding.
Do my properties have to meet a certain dollar amount before I can get approved?
Yes. The properties must be worth a minimum of $1.2M.
Line of Credit
Can I obtain more capital after the line is paid back?
Yes. They will re-evaluate the terms and will grant you more capital and typically at a longer term and better rate. (assuming the payback went smoothly)
Do I have to have outstanding credit to get approved for the product?
No, you can have low as a 620 credit score.
Do I have to wait to pull the full amount from the line?
No, you can take out the full amount on a first time pull.
Long Term Loans / Long Term Funding
Is there a lot of upfront paperwork for this product?
No. There is actually no upfront paper work required, the Underwriter will call you direct same day to go over everything.
Do I have to have great credit?
No it can be low as 500.
Are these daily or weekly payback deals?
No they are monthly payback terms on 10 year terms.
Personal Loans
Do my personal or business bank statements play a factor in the approval process?
No. These loans are solely based on credit.
What are the rates?
The rates can vary from as low a 3% up to 16 cents on the dollar depending on how good your credit is.
Can I obtain another loan after it’s paid off?
Yes they will re-evaluate your past loan and typically will give you better terms and more capital in the next few business days.
SBA Loans
What are the payback terms?
10-30 year fixed terms on a monthly payback.
Can I apply for the Express and the SBA 7a loan at the same time?
Yes. That way you can see both offers and determine which is best for your business.
Do I have to have great credit?
Credit has to be a minimum of 660 for these loans.
Ready to explore business funding options?
Let’s discuss which business funding solutions are a good fit.