How it Works
Navigating the waters of the underwriting process can seem tedious, however with the proper understanding of your business’ sustainability and capital requirements, we’re able to streamline your funding request, making it fast, simple and transparent.
Some Data Used to Underwrite Your Funding Approval:
- Review of the company’s profile and funding request
- Industry segment, product(s) and service(s) provided
- The amount of funds you are seeking and how the funds will be used in your business
- A snapshot of any outstanding business debt and payments
- Strength of personal credit – fair, good, excellent?
- Strength of positive cash flow in recent months (do you have any wiggle room or reserves as a cushion?)
- Your timeline to receive the necessary funding
Some additional documents needed to complete the funding process:
- Revenue documents – typically 4-6 months of business bank statements and a total of 12 months if business revenue tends to be seasonal
- Invoice(s) – when considering Invoice financing of the business’s account receivables
- Equipment quote(s) – used to secure the necessary funding to purchase equipment
Based on the review and scoring of these items we can determine the proper fit and discuss all of the options approved for funding.
…to underwrite longer term-based funding models further documents typically will be required. You can expect to provide items such as:
- Proof of ownership (partnership agreements, LLC operating agreement, article of incorporation)
- Previous 1 or 2 years business and personal income tax returns
- Income statement (also known as P&L statement) and balance sheet
- Leases for business locations
- Mortgage statement for the business, if any
- Title deeds of personal real estate that can be utilized as possible collateral
- Notice of any liens that may exist on the business and payment schedule
- Be fully operational for at least 12 months (in some cases 6 months)
- Process a minimum of $8,000 per month in credit card transactions or have average monthly sales of $20,000 or higher
- Be located in the United States
Get started today, our funding advisors are ready to help. (866) 245-5863
How to Pre-Qualify
Your Business Should:
We’ve helped many business owners that fall into that very same category of carrying an open balance with another lender. We are able to provide suitable funding options that fit your budget without hampering the cash flow of your business.
From the local mom & pop store to your national multiple-location chains, we’ve managed to provide funding solutions to our clients in record time.
Collecting documents for review tends to be the single most thing to delay the underwriting process. Some crucial elements are making sure that your documents are complete with all pages and legible for review in order to meet your funding request in a timely fashion.
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