Question 1

How quickly can I get approved for a business loan?

Accepted Answer

Most applications receive a decision within 24 hours. For straightforward term loans and lines of credit, same-day approval is often possible. More complex financing like asset-based lending may take 1-2 weeks due to collateral evaluation.

Question 2

What documents do I need to apply?

Accepted Answer

Typically, you'll need 3-6 months of business bank statements, recent tax returns, and basic business information (EIN, time in business, revenue). Some loan types may require additional documentation like accounts receivable aging reports or equipment quotes.

Question 3

Will applying affect my credit score?

Accepted Answer

No. Our initial pre-qualification only requires a soft credit check, which doesn't impact your score. A hard credit inquiry only occurs if you decide to proceed with a formal application after reviewing your options.

Question 4

What credit score do I need to qualify?

Accepted Answer

We work with businesses across the credit spectrum. While a higher score (680+) typically qualifies for better rates, we have options for businesses with lower scores. Factors like revenue, time in business, and collateral also influence approval.

Question 5

How much can I borrow?

Accepted Answer

Our loan amounts range from $50,000 to $100 million depending on the product. Term loans and lines of credit typically go up to $10M, while asset-based lending can extend to $100M for qualified businesses.

Question 6

Do you offer loans to startups?

Accepted Answer

Yes, though requirements differ. Startups typically need to show at least 6 months in business with consistent revenue. We also offer resources on alternative funding like pre-seed financing and venture capital for early-stage companies.

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