Details

Short-Term Loan by The Business Backer
Using expert advisors, The Business Backer is able to match businesses with financing that is right for them. This includes traditional loans, lines of credit and alternative forms of financing. They’ve reinvented the loan process by using the expert consultants to provide an honest appraisal of financing options available for a business. They’re approach has allowed them to service thousands of customers spread across the United States.

Additional Details

Cost
1.09 – 1.45 Factor Rate

Repayment Terms
Daily or weekly payments for 4 – 18 months

Funding Amount
$5,000 to $200,000

Repayment Example
$20,000 (loaned amount) x 1.45 (factor rate) = $29,000 (total payback amount)

Origination Fee
None

Funding Speed
2 – 3 days

Recommended Requirements to Know

Annual Revenue
$250,000 and above

Personal Credit Score
640 and above

Months In Business
Minimum of 12

Business Bankruptcy
No open bankruptcies on your business credit reports.

Personal Bankruptcy
No open bankruptcies on your personal credit reports.

Pros

No origination fee and quick, simple approval process with good rates.

Cons

Annual revenue requirement can be high compared to similar products. Daily repayments might be part of the loan terms.

Main Point:

Because of their rates, funding amounts and absence of fees, this can be a good option for any business that makes daily or weekly payments.

Get the financing you need

Apply Now