how it works
Minimal Requirements
As soon as you submit your online application, one of our friendly and dedicated funding advisors will contact you to ask you a few simple questions, assess your goals, and get a better understanding of your business. To guarantee that we give you an offer that better suits your business’ needs, we will require minimal paperwork and that involves the funding application and your four most recent statements. In most cases, we still fund applications that show less than ideal credit and we do not require that you own any collateral to get you funded.
Underwriting
Once we have everything we need to process your financing, our underwriting team will review your documents to determine which type of merchant financing program your business qualifies for. We then determine your repayment plan depending on the unique characteristics and seasonality of your business. You will receive a contact detailing the terms of your financing for you to review and sign before the funds can be disbursed.
Funding Process
Before we can put cash into your bank account, an account manager will follow up with you to make sure that none of your questions are left unanswered. At this point, you will only be required to submit a month-to-date statement that shows your transactions so far in the current month. In some cases, although not often, additional stipulations may be required. You will receive the funding in 24-48 hours from the time all stipulations are satisfied.
Renew
You become automatically signed up to our Advantage Program once you get funded for the first time. You will be eligible to unlock some of the benefits of this program, including renewals when you maintain a healthy flow of transactions on your bank accounts and a positive repayment history. Once you are at least 40% paid-off, you will receive a notification to let you know that you are eligible to request additional funds. Although a request for additional funding is not a guarantee for financing, over 83% of our customers qualify for renewals before their current program is paid-off.
