Things To Consider
With a variety of lenders and credit programs on our marketplace, pricing will vary. All rates are subject to individual credit and underwriting guidelines set by each bank or lender.
Generally, borrowers desire a low rate with a long term that’s quick to process and requires minimal paperwork. The adjacent graph illustrates the relationship between rate, term, paperwork required, and length of time to process and fund.
Typically, financing applicants will fall into one of three categories: Bankable, Non-Bankable, or Unqualified.
- Bankable clients are those who would likely qualify for conventional bank or SBA loans. They are more likely to qualify for a traditional, long-term, credit-based, secured financing product with a monthly repayment.
- Non-Bankable are those that would not likely qualify for conventional bank or SBA loans. They are more likely to qualify for an alternative, short-term, revenue-based, unsecured financing product with a fixed daily or weekly repayment. For these applicants, we work hard to meet their current financing needs while, guiding them to a state of future bankability (thus, qualifying for more desirable offers).