Compare Options

Funding Circle

(Term Loan)

  • Rates: from 5.49%
    to 24%
  • Payments:
    fixed monthly
  • Years In Business:
    >2
  • Loan Amounts:
    5K - 500K
  • Fees:
    Just one fee:
    0.99–5.99% of amount
  • Prepayment penalty:
    Nope. Save on interest
    and repay early!
  • Repayment term:
    1–5 years
  • Customer Service:
    VIP service, dedicated
    specialist from day one
  • Underwriting:
    your personal underwriter,
    views your business holistically
  • Approval Time:
    Under 10 days

Banks

(Term Loan)

  • Rates: low
    Fixed monthly payments
  • Payments:
    fixed monthly
  • Years In Business:
    >2
  • Loan Amounts:
    5K - 100M
  • Multiple fees:
    Origination, Closing, Ongoing Service
  • Prepayment penalty:
    Sometimes.
    Small percent!
  • Repayment term:
    5-20 years
  • Customer Service:
    No exactly known for it
     
  • Underwriting:
    no contact with underwriter,
    limited view of your business
  • Approval Time:
    Month(s)
  • Government SBA loan guarantees increase your approval time while improving your approval chances.

Unsecured Credit Lines

(Credit)

  • Rates: 0% @ 6 - 18 months
    moderate rates after
  • Payments:
    interest only payments
  • Years In Business:
    >0
  • Credit Line:
    5K - 150K
  • Fees:
    Self / Consultant
    0% / 4–15% of amount
  • Prepayment penalty:
    Nope. Save on interest
    and repay early!
  • Repayment term:
    Your choice
  • Customer Service:
    Multiple Lenders
    Multiple contacts
  • Underwriting:
    automated underwriter,
    no special circumstances
  • Approval Time:
    Instant
  • You may have trouble accessing some credit lines issued in the form of credit cards. Cash advance rates are typically high (14% - 24%)

Merchant Cash Advance

(Advance)

  • Rates: 10%
    to 100%
  • Payments:
    Daily
  • Years In Business:
    >1
  • Loan Amounts:
    5K - 100K
  • Fees:
    Multiple fees:
    3 – 9% of amount
  • Prepayment penalty:
    Typically Hefty.
    !
  • Repayment term:
    <12 months
  • Customer Service:
    Hit and miss
    multiple intermediaries
  • Underwriting:
    automated,
    Emphasis on cashflow
  • Approval Time:
    1 - 3 days
  • Monthly versus daily payments can quickly and dramatically change the total cost of your loan, and sometimes make shorter-term cash advance rates appear less expensive than a term loan. A good lender will always be willing to help you calculate an APR (all costs for one year in a single equivalent interest rate), so that you can accurately compare the true cost of each loan.

What's Needed

  • Business Tax Returns

    at least 2 years

    For larger loans we may need financial statements.

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  • Personal Tax Returns

    at least 1 year

    Returns are needed from each personal guarantor.

    APPLY NOW
  • Business Bank Statments

    recent 6 months

    You can conveniently provide access to our underwriters online or scan and upload documents.

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  • Business Debt Form

    List of Liabilities

    Underwriting needs an accurate view of existing obligations.

    APPLY NOW
  • Guarantor Form

    Owners' Personal Guarantee

    Each 20% or greater owner must personally guarantee our loans.

    APPLY NOW



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1

Why are you searching for capital?

We want to fully understand why you want more capital and how you plan to use it. While Funding Circle is one of our go-to marketplaces, we work with many other investors who may fit your particular circumstance.

  • Do you have a business plan?
    Writing things down adds a lot of clarity. Our lenders want to know that you can clearly articulate how the loan will help your business. Will you scale up faster, penetrate new markets or even out your cashflow? Does the owner understand current competitive advantages and future opportunities?
  • Do you have all the necesssary electronic documents?
    In general we need documentation to support ownership of the business and assets, 2 year of tax returns and 3 - 6 months of bank statements. Depending on the type of loan and the investor, additional documents to support the opportunity such as contracts or invoices my be needed.
  • What's the owners' credit history?
    Most lenders consider personal credit history a b indicator of business creditworthiness. Before we submit a loan we help you resolve personal credit issues. A FICO score greater than 720 is best.
  • What can you afford to pay?
    You don't need an MBA to figure out how much a loan will cost you, so remember to compare loans based on their annual percentage rate (APR) once all costs are accounted. How much you can pay depends on what the investment will generate as well as the risks involved.



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2

It's a family affair.

We holistically recognize that your personal life and business life are reflective of each other. So, when helping you evaluate your options we appreciate the impact these decision may make on your family. We work with many lender always keeping your well being above everyone else.

  • We strive to nurture happy and loyal clients.



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3

Manage expectations with preparation.

  • There are no do-overs once you waste the time.
    By first preparing your business, then preparing a proper presentation, we achieve results the first time and enable your later success. We define success early on so you can recognize success when it arrives.
  • Only Soft-Pulls On Your Credit -- No hard inquiries. We don't damage your credit just by looking at your options.



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4

From Application To Funding, we're there with you every step of the way.

  • Consistent Effective Communications
  • Anticipate barriers; develop contingencies.
  • We are not closers or sales people.
    If you see a good offer, you won't hesitate to take it. We are problem solvers and explainers at our core.
  • If we can't help you we will help you find someone who will.