Renewals
Renewal terms are looser than new-money terms, and most operators do not know they have already crossed the line into eligibility.
✓ Checking what you qualify for does not affect your credit score.
An add-on is additional capital on the facility you already have, rather than a separate position. How far into the term you can take one depends on the original term length.
You have a payment history now, and that history is worth more to an underwriter than any projection. The FICO floor drops from 650 to 550 and time in business from 3 years to 2.
The paperwork also shrinks. Three months of bank statements is the whole ask unless the renewal is above $250,000, and client and landlord interviews only come into play at that level too.
A short application. No impact to your credit score to see what you qualify for.
We review revenue, time in business and bank activity — not just a credit score.
You see the amount, the term and the total cost before you sign anything.
Money in your account, typically the next business day after signing.
Once 50% of the original balance has been paid back.
550.
No origination fee.
Only above $250,000, or above $300,000 for multi-renewal clients.
Additional capital on your existing facility rather than a new position. Availability depends on how far into the term you are.
Add-ons are not available if another position exists.
Same-day decision. Applying takes a few minutes and will not affect your credit score.
