Applying

How do I qualify for Business Funding Pro financing?
Business Funding Pro has a variety of loan products to suit your needs.  To qualify for an business loan, your business should have the following characteristics at minimum:

1. Minimum 3 months in business
2. Minimum of $10,000 in revenue monthly
3. Minimum 500 FICO score of the business owner

This will at least qualify you for a short term loan product. Other products require a minimum of 1-2 years in business and an annual revenue of $150,000 at minimum.

I’ve been turned down by my bank before. Can I still get a Business Funding Pro loan?

Yes. We have helped many small businesses obtain funding through our bank partners even after they have been turned down by other banks.

Can I get a second Business Funding Pro loan?

Yes, many customers get a second Business Funding Pro loan as their business grows. Typically business owners find that as they grow they need more capital to continue growing without issues.

What information do I need to apply?
Typically, we only require basic information about yourself and your business. Depending on your loan type and amount, we may also ask for:

1.  Business Tax ID letter

2. Bank statements for the previous 1 to 3 months

3. Social Security card of business owner(s)

4. Driver’s license

5. Most recent tax returns for the last three years

6. Continued application

7. Year to date profit and loss statement

8. Aging accounts receivable report

9. Invoice/Contract

10. Articles of Incorporation

11. Certificates of Good Standing

12. Proof of insurance

13. Lease agreements

14. Landlord subordination among others that can be specific to your business type.

How does the application process work?
The Business Funding Pro online application process typically takes about 5 minutes. You can apply online or over the phone by calling 1-888-705-8278

What are your discounts, rates, and fees?
Your rate will be determined by how healthy your business is and its current cash flow. Fee’s and discount amounts will range depending on the loan product you are applying for.

How quickly can I receive a Business Funding Pro loan?
Short term loans can be decided in minutes and funded in as fast as 24 hours.

Term loans, factoring, and leasing, can take up to 5 days to complete.

With SBA loans you can receive your capital as swiftly as 7 business days. The majority of SBA loans only take a couple of weeks from application completion to you receiving your capital. SBA 7(a) loans above $150,000 and SBA 7(a) commercial real estate loans up to $5 million typically take  from up to weeks. The problem most customer face is taking time to provide us your supporting documentation, the faster your documents are sent, typically equals a faster funding time. The process typically moves very quick.

Is there any obligation if I  apply?
No, if you apply for funding from Business Funding Pro, there is no obligation to accept the loan offer.

Funding

How does Loan funding work?
Your loan will typically be funded either through the Automated Clearinghouse (ACH) system or via wire. For more information call 1-888-705-8278

Repayment

How do I pay my loan back?
For most products a fixed payment amount will be deducted from your business bank account on a daily, weekly, or monthly basis depending on the loan type you are approved for. Other options may be available depending on the product type.