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FAQs

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Business Lending
Frequently Asked Questions

How much will my payments be?

Many year ago, I owned part of a commercial web design company that did quite a bit of work with Custom Home Builders. If they asked how much a web site would be, I asked them, "how much to build a home?"

They quickly understood why that isn't the best question. There are so many variables when it comes to building a home, designing a website, or lending capital that will differ from business to business. 

Our team can assist with SBA loans, term loans, lines of credit, debt restructuring, even real estate acquisitions. Each program is structured different and we have programs for merchants with excellent credit as well as business owners that aren't as established. 

We do offer a quick pre-qualification to find out exactly what you qualify for without affecting your personal credit. 

I'm looking for $500k but you only approved me for $200k.

Our underwriting team will look at your business bank statements, cash flow, other types of obligations you have and put together an offer showing the maximum amount that we can offer. 

If you don't have the personal credit or payment history as a business, we might want to build a working relationship with you before making a substantial offer. We will always try our best to maximize our offer, but we can't meet the needs of everyone. 

As alternative lenders, we take a close look at business performance, industry type, time in business and cash flow before handing out new funding.

How much is the monthly maintenance? What do I get?

The monthly package is $19.95 and includes website hosting & maintenance, email hosting, annual domain registration/renewal, SSL certificate, and 1-hours worth of website updates and changes at your request.

Do you perform a hard or soft inquiry on my credit?

When determining eligibility, we’ll perform a soft credit check on the business owner’s personal credit.

This will not affect your personal credit at all, we also offer programs that do not have a minimum credit requirement. 

 

What if I don't have a SSN?

Our team is more concerned with your ability to repay the funding vs whether or not you have a SSN. If you 

Will I have daily, weekly, or monthly payments?

Whenever we hear this question, it tells me that a merchant is referring to a type of funding called "Merchant Cash Advance."

If a business owner doesn't have credit and doesn't qualify for traditional lending options, as a last resort, a funding company can offer "revenue-based funding." We look at your cash flow and we can structure an offer based on your ability to repay the funding. Some offers are 36 months, others are 60 days. The payment terms are based on the level of risk associated with lending to you. 

Daily or weekly payments are relatively rare, this typically applies only to MCA or merchant cash advance offers. 

Most term loans and lines of credit have monthly payment options. 

If you only qualify for short term lending, we will inform you of your options and create a game plan to help move you to a more traditional program as soon as possible. 

 

What do I need to bring in per month to get approved?

We normally want to see at least $10,000 per month in deposits for us to make an offer. 

What if I don't have good credit?

We have programs that are credit based and we have revenue based programs. Our revenue based programs do not have a minimum credit score requirement, we simply look at your last (4) bank statements and structure an offer that you can realistically repay based on a percentage of your gross monthly revenue. As you pay off that funding, we will typically offer longer terms and additional funding. Building a strong payment history is important if you do not have a strong credit profile. 

Are there options for people with good credit?

Yes, we have a programed called "Smart Money" that is exclusively for merchants with a personal FICO score above 680. 

We can normally offer up to $500k with up to a 7 year term and combine that with a $150k line of credit. 

We will need access to a credit report dated within the last (7) days. An Experian report is preferred if possible.