Frequently Asked Questions
Application Process
+What documents do I need to apply?
+Required documents typically include:
- Business tax returns
- Bank statements (last 3 months)
- Financial statements
- Business licenses
- Equipment quotes (for equipment financing)
How long does the application process take?
+Processing times vary by funding type:
- Working Capital: 1-3 business days
- Equipment Financing: 2-5 business days
- SBA Loans: 30-90 days
- Traditional Bank Loans: 2-4 weeks
What happens after I apply?
+After submitting your application:
- Initial review within 24 hours
- Document verification
- Underwriting review
- Funding proposal
- Contract signing
- Funding disbursement
Equipment Financing
+What types of equipment can I finance?
+We finance a wide range of business equipment including:
- Heavy machinery
- Manufacturing equipment
- Office equipment
- Vehicles and trucks
- Medical equipment
How does Equipment Financing work?
+Equipment Financing provides funding specifically for purchasing business equipment. The equipment itself serves as collateral, making it easier to qualify for than traditional loans. Terms typically match the expected life of the equipment.
What are the benefits of Equipment Financing?
+- Lower down payments compared to traditional loans
- Tax benefits and deductions
- Fixed monthly payments
- Equipment serves as collateral
- Flexible terms based on equipment life
Working Capital
+How quickly can I get working capital?
+Most working capital solutions can be funded within 24-48 hours after approval. The entire process from application to funding typically takes 2-3 business days.
What can I use working capital for?
+Working capital can be used for various business purposes including:
- Inventory purchases
- Operating expenses
- Payroll and staffing
- Marketing and advertising
- Emergency expenses
- Business expansion
What are the requirements for working capital?
+Basic requirements typically include:
- 6+ months in business
- $10,000+ in monthly revenue
- 500+ credit score
- Valid business bank account
SBA Loans
+What are the requirements for an SBA loan?
+Basic SBA loan requirements include:
- Good credit score (typically 680+)
- 2+ years in business
- U.S.-based business
- For-profit operation
- Owner-invested equity
What types of SBA loans are available?
+The main types of SBA loans include:
- SBA 7(a) Loans - Most common, for general business purposes
- CDC/504 Loans - For major fixed assets like real estate
- SBA Express Loans - Faster processing for smaller amounts
- Microloans - Small loans up to $50,000
What are typical SBA loan terms?
+SBA loan terms vary by type:
- Working capital: Up to 10 years
- Equipment: Up to 10 years
- Real estate: Up to 25 years
- Interest rates: Based on prime rate plus markup
- Down payment: Typically 10-20%