FAQs
- Signed Application (dated within 30 days)
- Last 3 months business bank statements
- MTD (month to date) *if after the 15th of the month
- Payback months *if a seasonal business
- Basic Financials (A/R, A/P, B/S, P/L) *if seeking $100k+
- Business owner(s) driver license(s)
- Voided business check
- A/R (if applicable)
- Business lease or mortgage statement
- Landlord contract or two rent checks
- Proof of ownership
- Business type
- Size and nature of current financing in place
- Time in business
- Open/unexplained UCCs
- Any personal credit, business credit & background check issues
- Size and health of cash flow
- Number of deposits
- Average daily account balances
- Use of funds
- Seasonality
- Qualifying and Processing?
- Review application, merchant details and decline criteria
- Full analysis of bank statements
- Review credit report and background
- Underwriting
- In depth review of bank statements and business cash flow
- Evaluate owner and business details
- Perform detailed review on public records
- Closing
- Review contracts and required stipulations
- Perform bank login or decision logic
- Merchant interview
- Funding
- Ensure positive balance in bank account
- Complete recorded funding call
- Business less than 3 months old
- Greater than 5 negative days in the past month
- Late on tradelines and/or mortgage
- Previous decline - within the last 30 days
- Criminal background
- Previous default and/or modification of MCA or loan
- Not often. However it is determined on a deal to deal basis.
- Yes. Almost all of our fundings offer prepayment incentives and is built into the contract as an addendum.
- Providing us with the most accurate information regarding your business will result in a more aggressive, faster funding process.