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Frequently Asked Questions

Empowering Your Business Growth

These FAQs provide general information about business financing options. For personalized advice and detailed information, please contact our team directly.

A Fixed Term Loan provides a lump sum of capital repaid over a set period with regular payments, suitable for significant investments like equipment purchases or business expansion.
A Business Line of Credit offers flexible access to funds up to a predetermined limit, allowing you to draw and repay as needed, ideal for managing cash flow and unexpected expenses.
An MCA provides immediate capital in exchange for a percentage of future sales, with repayments adjusting based on daily revenue, beneficial for businesses with fluctuating sales.
Qualification typically requires a solid business plan, good credit history, financial statements, and proof of consistent revenue. Specific criteria may vary by lender.
Collateral requirements depend on the loan type. While some loans are unsecured, others may require assets as security.
Fixed Term Loans can finance equipment purchases, business expansion, inventory acquisition, or other significant investments.
Unlike traditional loans with fixed payments, an MCA offers repayments based on a percentage of daily sales, providing flexibility aligned with revenue fluctuations.
Yes, a Line of Credit can cover payroll, manage cash flow gaps, and address other short-term financial needs.
Interest rates vary based on loan type, lender policies, creditworthiness, and market conditions. It’s advisable to consult directly for current rates.
Approval times vary; some financing options offer quick approvals within 24 hours, while others may take longer, depending on the lender and loan complexity.
Yes, startups can apply, though they may face stricter criteria, such as providing a robust business plan and demonstrating potential for revenue generation.
Repayment terms vary but typically range from one to five years, depending on the loan amount and lender policies.
Some loans may have prepayment penalties, while others do not. It’s important to review the loan agreement for specific terms.

Both offer revolving credit, but a Line of Credit often provides higher credit limits and lower interest rates, suitable for larger expenses, whereas credit cards are ideal for smaller, everyday purchases.

Yes, refinancing options are available to consolidate and manage existing debts, potentially securing better terms or lower interest rates.

Commonly required documents include financial statements, tax returns, business licenses, and a detailed business plan.
Credit score requirements vary by lender and loan type. While a higher score improves approval chances, some lenders offer options for those with less-than-perfect credit.
The process typically involves submitting an application with required documentation, undergoing a credit and financial review, and receiving a decision from the lender.
Yes, funds from business financing can be allocated toward marketing efforts to help grow your business.
Fees may include application fees, origination fees, and closing costs. It’s essential to discuss and understand all potential fees with your lender before proceeding.
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