Business Funding FAQ

General questions.

I was declined by my bank. Can I still get business funding?

Usually, yes. Banks decline most small business applications for reasons a revenue-based lender treats as ordinary — under two years trading, uneven monthly income, a thin credit file, or an industry the bank classes as high risk. These lenders underwrite on recent deposits rather than credit history, and a bank decline is not a factor in their decision.

What credit score do I need for a business loan?

For revenue-based funding, often none in the conventional sense. Many lenders set no minimum and regularly approve businesses scoring in the 500s, because monthly revenue and time in business carry far more weight. A line of credit is the one product where score genuinely matters.

How fast can I actually get the money?

One to three business days is realistic once the file is complete, and decisions frequently come back the same day. The slowest step is almost always producing three to six months of bank statements, so having those ready is the single biggest thing within your control.

How much can my business qualify for?

Most lenders advance between 50% and 150% of one month's revenue. A business turning over $40,000 a month typically sees offers between $20,000 and $60,000. Longer trading history and steadier deposits push that range upward.

What does business funding actually cost?

Revenue-based funding is quoted as a factor rate rather than an interest rate, commonly between 1.1 and 1.5. At 1.30 a $50,000 advance means repaying $65,000 in total. Compare offers on the total dollar figure rather than the rate or the daily payment — two offers at the same rate over different terms cost the same overall but very different amounts per week.

Does applying affect my credit score?

Checking your options does not. Applying here results in a soft review that leaves no mark. A hard credit pull happens only later, if you accept an offer and that particular lender requires one, and you are told before it happens.

Is there a fee to apply?

No. There is no fee to apply, no fee to receive offers, and no obligation to accept one. The lender pays a commission when a deal funds. If anyone asks you for an upfront fee to secure business funding, that is a recognised advance-fee scam and you should walk away.

Will applying get me flooded with sales calls?

Not from us. Your application goes to the lenders that fit your business rather than to everyone with a phone, and we do not sell your number as a lead. It is worth asking any broker this question directly before you hand over a phone number.

Are you a lender?

No. Business Loans for America is a financing marketplace and brokerage. Lenders in our network make their own independent credit decisions and originate the financing. We do not make loans and we do not make credit decisions.

What documents will I need?

Typically three to six months of business bank statements, basic business details and proof of ownership. Full tax returns and prepared financial statements are rarely required at this size, which is much of why the process moves in days rather than weeks.

How long does my business need to have been trading?

Six months of trading opens most options. Under six months narrows them considerably but rarely closes them — equipment financing in particular remains available, because the equipment itself secures the loan.

Can I repay early to save money?

On a term loan or line of credit, usually yes. On a merchant cash advance, generally no: a factor rate is fixed at the outset rather than accruing over time, so repaying a 1.30 advance in four months instead of nine costs the same in dollars. Some lenders offer an early-repayment discount, but you have to ask for it in writing.