Guide
The lowest published cost here is 1% per month on a drawn line-of-credit balance. Anything advertised meaningfully below that is a bank, a credit union or the SBA.
✓ Checking what you qualify for does not affect your credit score.
Line of credit: from 1% per month on the drawn balance, 2.49% per draw, $10,000 minimum draw, no origination, maintenance or early payoff fee.
Term loan: 0% origination, weekly payments, and a full early payoff earns a 50% discount on the remaining interest.
MCA refinance: priced with a factor rate rather than interest, with early payoff discounts at 30, 60 and 90 days.
A 1%-per-month line drawn for two weeks costs very little. The same line drawn and carried for three years costs a great deal.
Cost of capital is a function of rate and time. Shortening the time is usually the bigger lever.
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.
From 1% per month on a drawn line-of-credit balance, for files clearing Tier 1.
None on the line of credit or the term loan.
No. A full early payoff on the term loan earns a 50% discount on the remaining interest.
Same-day decision. Applying takes a few minutes and will not affect your credit score.
