FAQ'S small business loans

Average Time to Get Approved?

In Most cases we can get your loan  approvals in 24-48 hours with funding subject to receipt of required documentation, underwriting guidelines, and processing time by your bank. Funds are deposited into your business checking account as soon as the next business day after approval and acceptance of terms. 

What Are The Prepayment Options?

Funding is offered through lenders that can offer special opportunities for its customers to terminate contracts early and receive a discount in the process. Certain categories of business like  Equipment Finance customers who payoff the total remaining balance early,  at any point during the contract, can receive discount off the total remaining balance. Working Capital customers who pay off the total remaining balance in full within the contract term can receive discount off the total remaining balance. Typically companies who are on a lease contracts do not receive discounts for prepayment. Customers must pay off the balance in full, be current, and in good standing to take advantage of the discounts offered by our lenders.  

How Do I Make My Payment?

Depending on the guidelines, loan type, financial health of the borrower and individual requirements of the lender payment terms can vary. But typicality  most lenders will require the payment to  be withdrawn via Automatic Clearing House (ACH) Monday through Friday excluding bank holidays. 

  

· Financing for Working Capital can come with payments programs that have terms terms of 4-180 months depending on the lender requirements. 


Are Payments Tax Deductible?

Section 179 tax deduction is a lucrative and important tax break that has been made permanent across the board, under the Protecting America from Tax Hikes Act (PATH Act).  In most cases, the IRS allows your equipment lease or loan payments to be 100% tax deductible!  You can secure the equipment, tools, and technology that you need, while also taking advantage of significant tax deductions — up to $500,000.  Consult your tax professional for more details.

Am I Getting The Lowest Payment?

We will shop your loan request through lenders that are the best fit for your needs, with one of the criteria being lowest payment terms available based the businesses eligibility, In order to compare our lenders offers to an existing quote customers must provide a competitive quote without contingencies, and vendor invoice, and in the name of the lessee within seven calendar days of the date  of our lender issues its terms. 

Pursuant to the terms and conditions specified in the Rules and Restrictions of the lenders that offer a Guaranteed Lowest Payment we will apply these terms to your loan.  

Is This Loan Guaranteed?

This is not a guaranteed offer of credit. Loans are always subject to lender approval. Approval amount is based on eligibility determined by information obtained from Dun & Bradstreet and other available sources. Actual eligibility may vary. Restrictions may apply. Application is subject to approval by the lender and is based on factors such as business type, time in business, annual sales, average bank balances, personal credit and other variables deemed relevant by the lender. business loans small business loans