Our loan process is quick and simple, but if you need to know a little bit more, just look over our pre-qualification checklist below. We’re not looking for a perfect business by any means, just signs of health. Go over the list of indicators further down, and also see some of our lenders’ histories. Our minimum requirements are less stringent than traditional lenders. Although we look at a variety of data points when analyzing businesses, we require minimums in the following:
What About Startups?
Since some of our funding options include factors based upon a portion of future sales, we usually cannot offer funding to any businesses under 2 years old. Some exceptions can be made, so contact us if your business is especially healthy for a startup.
I meet all the requirements, now what?
Great! The next step is to complete our easy to fill out application form. Don’t worry too much about entering in the “correct” answers. Our goal is to help you build a better business not require that you already own a flawless one. Once you have entered in all the necessary information and submitted the form your application will then be sent to our team of loan specialists for review.
1 Year or More
U.S.- and Canada-Based Businesses
After we have checked over your submission, during our normal business hours, a member of the SpotOn Financial team will contact you. During that time they will provide you with additional information, get a few more details from you, and will inform you of the next step in our process. You can be pre-approved in as little as a few days and have access to funding in as little as a week.
Don’t meet the criteria? You may still qualify
- Have already been turned down by a bank
- Do not have a business plan
- Do not have personal collateral
- Have a tax lien with a payment plan
- Have a bankruptcy that has been discharged
- Have poor personal or business credit