Question 1

What are the minimum requirements to qualify for business funding?

Accepted Answer

Minimum 6+ months in business. Minimum $15,000 in monthly revenue. An active business checking account.

Question 2

How long does the application process take?

Accepted Answer

Our online application can be completed in under 5 minutes. Funding decisions are typically made within 12 hours and approved funds can be deposited the same day.

Question 3

What do I need to get started with my application?

Accepted Answer

At FinFunders we like to keep things simple. All you'll need to apply is your three most recent business bank statements and answers to a few quick questions that can all be completed on our portal.

Question 4

Can I speak to someone if I need help?

Accepted Answer

Absolutely! Our dedicated Relationship Managers are available to assist you. Contact us Monday through Friday, 9 AM to 6 PM EST, at   (561) 489-7466 .

Question 5

Will my credit score affect my approval chances?

Accepted Answer

No. At FinFunders, we go beyond just analyzing the numbers; instead, we take a holistic view of each business. If a company's fundamentals are solid and its credit score meets our minimum threshold of 525, we're able to provide the business substantial funding.

Question 6

Will applying for business funding affect my credit score?

Accepted Answer

No, submitting an application will not affect your credit score. We only perform a soft credit pull, which does not have a negative impact on your credit score.

Question 7

What credit score is required for a business line of credit?

Accepted Answer

To qualify for a business line of credit, your FICO score must be 525 or higher.

Question 8

Will my credit score go down after applying?

Accepted Answer

No. Since we only do a soft credit pull, your business funding application will have no effect on your overall credit score.

Question 9

Are there industries you do not fund?

Accepted Answer

Yes, we do not offer funding to businesses in the adult entertainment or gambling industries.

Question 10

How quickly will I know if I'm approved?

Accepted Answer

You will typically receive an approval decision within 12 hours, often on the same day. Applications submitted after business hours are processed the following day.

Question 11

When will funds be deposited in my account?

Accepted Answer

You can choose from the following options: Same day wire transfer (fees may apply). Next business day ACH transfer.

Question 12

What can I use my funds for?

Accepted Answer

You can use your funds for anything. Use your business funding to pay for that expansion you've been planning, order more inventory, make payroll, or pay off debt. Whatever your growth goals may be, we're here to back your ambitions and make your next move possible.

Question 13

What are the terms of your financing options?

Accepted Answer

Fixed-Term Financing:  Terms range from 6 months to 2 years, depending on the product and borrower's profile. Revenue-Based Financing:  Terms fluctuate based on your business's cash flow.

Question 14

How can I use a business line of credit?

Accepted Answer

You can use it for anything your business needs. A business line of credit offers flexible access to funds, allowing you to withdraw money whenever you need.

Question 15

Do I need collateral to secure a loan?

Accepted Answer

No, we do not require collateral for any of our funding products.

Question 16

Can I qualify if I already have a loan with a traditional bank?

Accepted Answer

Yes! Our financing options can complement existing traditional loans without affecting your current obligations.

Question 17

Is my information secure?

Accepted Answer

Yes, absolutely. At FinFunders, we take data security seriously. We use advanced privacy technologies and 256-bit encryption to keep your information fully protected.

Question 18

Do you offer monthly payments?

Accepted Answer

Yes, qualifying businesses can opt for monthly repayment plans.

Question 19

How do I make payments?

Accepted Answer

For revenue-based financing, your business bank account is automatically debited based on the agreed upon payment schedule. There is no need to manually make payments or worry about missed deadlines.

Question 20

Are there any prepayment penalties?

Accepted Answer

Absolutely not. Our funding products do not have any prepayment penalties. In some cases, early repayment can even qualify you for a prepayment discount.

Question 21

Can I pay off my loan early?

Accepted Answer

Yes, you can repay your loan at any time without any penalties. Depending on your funding agreement, you may even qualify for a discount on your balance. Contact your Relationship Manager for further details.

Question 22

When am I eligible for renewal?

Accepted Answer

Most clients qualify for renewal after paying 40% to 50% of their loan balance. In some cases, you may qualify sooner. Contact your Relationship Manager for further details.

Small Business Funding FAQs

Business Funding Application Questions

Credit And Loan Approval FAQs

Funding Process And Timing FAQs

General Business Loan And Funding FAQs

Accounts, Repayment, And Renewals FAQs

Still have questions?

Business owners who got funded