BusinessLending360

Questions and answers

Business Funding Questions, Answered

How the marketplace works, what funding sources look for, what each product costs and how quickly funds can arrive. BusinessLending360 is not a lender and does not make funding decisions.

About BusinessLending360 and the process

Is BusinessLending360 a lender?
No. BusinessLending360 is a business funding marketplace. We are not a bank or a direct lender, we do not make funding decisions and we do not guarantee approval. We match your request with funding sources in our network so you can compare options.
How does BusinessLending360 work?
You submit one short request describing the amount you need, your time in business, approximate monthly revenue and credit profile. We match that request with options from 1,700+ funding sources, and a funding specialist follows up with the options that may fit.
Does submitting a request affect my credit score?
No. Submitting a request on BusinessLending360 is not a credit application and does not affect your credit score. A funding provider you choose to move forward with may run its own review, which can involve a credit inquiry.
How much does it cost to use BusinessLending360?
Using BusinessLending360 is free for business owners. There is no fee to submit a request or to review options, and you are never obligated to accept an offer.
How fast can I be funded?
It depends on the product. Revenue-based financing and short-term working capital can fund within one to two business days, equipment financing within one to five, and SBA-backed loans typically take three to twelve weeks. Funding speed is never guaranteed.
What do I need to qualify?
Most funding sources look for a US-registered business, a business bank account, at least three to six months of operating history and roughly $10,000 in average monthly revenue. SBA-backed programs usually expect two or more years in business.
Can I get funding with bad credit?
Options exist from roughly a 550 personal credit score, and some revenue-based programs consider profiles from 500 when deposits are consistent. Expect a higher cost, a shorter term and a smaller amount than a stronger profile would receive.
What happens to my information?
Your details are used to match your request with funding sources and to contact you about those options. See our Privacy Policy for how we collect, use and share information, and our Disclosures for our marketplace role and compensation.

Questions by funding product

Business Line of Credit: What credit score do I need for a business line of credit?
Most online funding providers look for a personal score around 600 or above, and some consider profiles from 550 with stronger revenue. Bank-issued lines usually expect 680+. Your score is one input among revenue, time in business and deposit consistency.
Business Line of Credit: Does an unused business line of credit cost anything?
It depends on the provider. Many online lines charge nothing when the balance is zero, while others apply an annual or monthly maintenance fee, or a minimum-utilisation requirement. Ask for the full fee schedule before you accept a line.
Working Capital Loans: What can a working capital loan be used for?
Any ordinary operating expense: payroll, rent, inventory, supplier payments, marketing, repairs or taxes. Providers generally do not restrict the purpose, though they will ask what the funds are for during the request.
Working Capital Loans: How fast can working capital be funded?
Decisions are commonly returned within one business day of the provider receiving your bank statements, and funding often follows within one to three business days. Same-day funding exists on some products but is never guaranteed.
SBA Loans: How long does an SBA loan take to fund?
Plan on three to twelve weeks depending on the program and how quickly you return documents. SBA Express is the fastest route; a 504 real-estate file involving appraisals and environmental review takes the longest.
SBA Loans: What credit score do I need for an SBA loan?
Most participating lenders look for a personal score of 650 or higher, and banks frequently expect 680+. Many also apply the SBA's SBSS business credit screen for smaller 7(a) requests.
Equipment Financing: Can I finance used equipment?
Yes. Most providers finance used equipment from a dealer, an auction or a private party. Age and condition affect the maximum term and the advance rate, and very old assets may require a larger deposit.
Equipment Financing: Do I need a down payment for equipment financing?
Established businesses with good credit are often approved with no deposit on title-able assets. Newer businesses, private-party purchases and specialised equipment commonly require ten to twenty percent down.
Invoice Factoring: How much of an invoice can I get advanced?
Typically seventy to ninety percent of the invoice value up front, with the reserve released once your customer pays, less the factoring fee. Trucking and staffing sit at the higher end; construction progress billing at the lower end.
Invoice Factoring: Will my customers know I am factoring?
Usually yes. Most factoring is notified: the factor verifies the invoice and your customer remits payment to the factor. Confidential factoring exists at a higher cost and stricter qualification.
Revenue-Based Financing: How is revenue-based financing priced?
As a factor rate applied to the advance. A $50,000 advance at 1.3 means $65,000 total repayment. Convert that to an estimated APR using the expected payback period before comparing it with a loan.
Revenue-Based Financing: Is this the same as a merchant cash advance?
They are closely related. A merchant cash advance is repaid from card settlements, while revenue-based financing is more often collected by fixed daily or weekly ACH tied to overall revenue. Both are priced with factor rates.

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Terms shown are published by each company and may change. Company names and logos are the property of their respective owners and are shown for comparison only — they are not partners of BusinessLending360 and no endorsement is implied. BusinessLending360 is not a bank or a direct lender; this is not an application for credit and not an offer of credit, and funding, approval, rates or terms are not guaranteed. Information you submit is handled as described in our Privacy Policy.