Funding in New York
New York carries extra restrictions on the revenue-based tier here, and the state has a commercial financing disclosure law requiring providers to disclose the finance charge, APR and total repayment before you sign.
Ask for the New York disclosure. If a funder cannot produce one, that tells you something.
The states that are excluded
Merchant Fund Express funds in every US state except Vermont, North Dakota and South Dakota. Vermont, North Dakota and South Dakota sit outside the lending area on every product. California and New York carry extra restrictions on the revenue-based tier.
Those are the only geographic lines. Everything else is set by the product.
The thresholds a New York file is read against
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.
Renewal: 550 FICO, 2 years in business, once 50% of the original balance is repaid.
There is no hard credit cutoff here. The 650/600/550 tiers are product criteria, not a floor on the business. Scores in the 500s are placed routinely, and files in the 400s are read on revenue, deposit consistency and time in business rather than on the score alone.
What to send
Application plus three months of business bank statements. Same-day decision, next business day funding.
Questions
Do you fund businesses in New York?
Yes. Ask for the New York disclosure. If a funder cannot produce one, that tells you something.
What credit score is needed?
There is no hard credit cutoff here. The 650/600/550 tiers are product criteria, not a floor on the business. Scores in the 500s are placed routinely, and files in the 400s are read on revenue, deposit consistency and time in business rather than on the score alone.
Which states are excluded?
Vermont, North Dakota and South Dakota. California and New York carry extra restrictions on the revenue-based tier.
How fast is a decision?
Same day on a complete file.