Amount
At $300,000 you are typically funding line-of-credit territory only, and a file that needs Tier 1 revenue behind it.
✓ Checking what you qualify for does not affect your credit score.
At $300,000 you are typically funding line-of-credit territory only, and a file that needs Tier 1 revenue behind it.
$300,000 is above the $250,000 term-loan ceiling, so the line of credit is the route — $10,000 to $350,000, from 1% per month on the drawn balance, charged only on what you draw.
On a line, you are only paying on the drawn balance, so the question is the draw pattern rather than the limit.
Tier 1: 650 FICO, 3 years in business, $300,000 a year or $25,000 a month, 8+ monthly deposits.
Tier 2: 600 FICO, 6 months in business, $60,000 revenue, $800 minimum daily balance.
The minimum FICO is 500. The 650/600/550 tiers are product criteria that decide which product a file is read against, not a floor on the business. Scores in the 500s are placed routinely and are read on revenue, deposit consistency and time in business rather than on the score alone.
Same-day decision, next business day funding on a complete file.
Above the term-loan ceiling the line of credit applies, read against Tier 1: 650 FICO, 3 years in business, $300,000 a year or $25,000 a month, 8+ monthly deposits.
The minimum FICO is 500. The 650/600/550 tiers are product criteria that decide which product a file is read against, not a floor on the business. Scores in the 500s are placed routinely and are read on revenue, deposit consistency and time in business rather than on the score alone.
Same-day decision, next business day funding on a complete file.
Same-day decision. Applying takes a few minutes and will not affect your credit score.
