Business Funding
Business Funding
Our Business Funding Programs provide solutions for all business owner types. Whether you are a brand new start-up with no revenues to date, or a seasoned business with strong revenues, we can help you get the funding you need. Make sure to look through all the programs listed below as each of them has their own unique benefits.
Business Credit Lines
Low Interest
- Rates as low as 6.99% for FULL DOC applicants.
- As low as 8.99% for STATED INCOME applicants.
No Doc or Full Doc
- We have products that tailor to how established your business is. If your business is a start up, we have No Doc products available. If your business is established and showing profit, we have full doc products available.
Funding in as little as 15 days
- Quick approvals for stated income applicants
No collateral
- All products, no doc or full doc, are unsecured. We do not collateralize or lien against any work equipment, commercial property, or personal property.
No Restrictions on use
- All our credit lines can be used same as cash. We do not burden our clients with vendor credit lines (I.E. BP credit lines, Office Depot credit lines, Staples credit lines).
No Upfront Costs
- Not sure if you qualify? Apply without an application fee!
Lines will not report to the personal credit bureaus
- Drawing these credit lines will not affect your debt/credit ratio, thereby sheltering your personal credit for personal necessities (auto loans, mortgages, student loans, personal credit cards).
Business Funding Plans
MINIMAL DOCUMENT BUSINESS FUNDING
Funding Amount: Between $25,000-$150,000
Time frame for Approval: 7-30 Days.
Requirements: Business Entity (New or Seasoned)
Personal Guarantor with a qualifying credit profile (700 Minimum)
Funding details: All funding is in the form of Business Credit Cards Only- Introductory 0% interest rates for the first 6-12 Months, after which rates can average between prime plus 3-12% (prime rate is currently 3.25%)
*If your credit does not meet the minimum credit requirements please contact a FDL representative additional information to acquire funding.
REVENUE BASED LENDING
Funding Amount: Between $10,000-$2,000,000 (loan amount is typically about 10% – 20% of your current annual gross revenue. Example: if the business making $500,000 per year the loan approval amount will average around $50,000 – $100,000)
Time frame for Pre-approval: 5-7 Days upon submission of initial documentation
Funding Timeline: 10-12 Days
Required for Pre-qualifications
- 1 Page application
- 6 Month Bank Statements
- Personal Guarantor with a qualifying credit profile (500+ Minimum credit score)
Funding Details and Terms: TBD by Lender
FULL DOCUMENT BUSINESS FUNDING AKA TRADITIONAL LINES OF CREDIT
Funding Amount: 25,000-1,000,000
Time Frame for Approval: 30-45 days
Funding Timeline: Funding received throughout the submission process.
Required for Pre-qualification:
- 2 or more years minimum in business
- 5+ years personal credit history for owner
- Annual Sales $350,000 or greater, revenues must show growth over the previous year
- All owners can participate
- Industry availability varies by region
- Credit scores should be 650 or higher, 700 or above greatly improved likelihood of approval and funding
- Last 2 years personal and business tax returns must have been filed.
- Minimal derogatory credit marks in the past 12 months
Funding Details and Terms: TBD by Lender
ASSET SALE-LEASE BACK
This is not a loan program. It allows businesses to utilize the cash equity of their existing assets to funding their businesses growth and expansion.
Details: An asset (or a series of assets) is purchased from you for up‐front cash and leased back to you on a rent-to-own basis, usually over a six-month period while you continue to possess and use the asset(s). This system gives you the ability to utilize the cash value of your existing assets to grow your business while at the same time having full use of such assets. At the end of the lease the ownership of the assets transfers to you.
Funding Amount: Between $10,000-$500,000 (asset value needs to be equal to or exceed amount of capital requested)
Time frame for Pre-approval: 5-7 Days upon submission of initial documentation
Time Frame for receiving fund: 10-12 Days
Required for Pre-qualifications
- 1 Page application
- Information on Asset(s)
- 12-months bank statements
Funding Details and Terms: TBD by Lender
