FAQs
How Quickly can I Receive Funds?
Depending on the program, we can get your approved and funded as quickly as same day!
What documentation is needed to get an approval?
Typically all we would need for an approval would be a simple 1 page application and the last 4-6 months of business bank statements.
What is a business Line of Credit?
Business Line of Credit (LOC) is one of the most flexible options available to business owners. The lender gives you a set limit. You draw what you need if/when you need it and those funds get deposited directly into your business bank account. You payments are based on the amount you draw and you have 100% early payoff discounts.
Do I need to put up Collateral to get a business loan?
Most programs offered through the Working Capital Marketplace, do not require collateral. Many of the programs offered on the platform are “unsecured”.
Personal Guarantees on Business Loans?
Lenders often require personal guarantees from business owners. Some lenders ask for a performance guarantee vs a personal guarantee. Guarantees, if any, tend to depend on the funding amount, funding program and credit profile of the business.
What is a Business Loan?
A business loan is a financial tool tailored for business needs, assisting in covering various expenses such as operations, payroll, and expansion. Funding is issued under and to a business and the funds are expected to be used for business related needs.
Criteria for Business Loan Eligibility
Eligibility for a business loan typically depends on factors like your credit score, business age, industry, use of funds and business financials. The Working Capital Marketplace prides itself on having a very diverse network of products to help business owners qualify for funding even if others haven’t been able to help.
Can I qualify with a poor personal credit score?
Business owners with poor personal credit scores can still qualify for funding options.
