Business Loan FAQ
What kind of business are eligible for the Business Loan program?
Most business that have been open a year or more can qualify for a Business Loan. As long as you have a separate business checking account.
What documents do you need from me for your application?
- Application completed and signed by principles/owners
- 3 months most recent credit card processing statements (all pages)
- 3 months most recent bank statements(all pages)
- Copy Business license
- Photo of the principles/owners Driver’s License
- Copy of voided business check lender will use to ACH transfer your funding to
Additional documentation may be required for a larger business funding or exceptions requested.
How soon will I know if I am approved?
In most cases your approval will be delivered in one business day.
How do I pay you back?
An ACH weekly or daily debit from your authorized business checking account. We will inform you of your exact payment amount, and our on-line loan management portal allows you to monitor the activity.
Do I need to change my credit card processor?
There is no need to change your credit card processor.
How do I receive my funds?
Typically, we wire transfer the money directly to your business checking account.
If I need additional funds, does my account have to be paid in full?
Once you have successfully repaid 50% of the principal of your loan, you are eligible to apply for a renewal.
Can I repay the Business Loan at any time without penalty charges?
Absolutely! You can always pay off your remaining balance on the loan at any time without penalty charges.