Business funding sounds complicated until you see the steps. On a complete file, you can go from application to an offer in a few hours and to funds in a day or two. Here is how the process works and what you can do to move through it quickly.
The four steps of business funding
- Apply. A short online application asks for basic details about you and your business. We use a soft pull only, so it does not affect your credit score.
- Send documents. Recent business bank statements are the main item. They show revenue and cash flow.
- Review your offer. Offers usually arrive in 1 to 5 hours on a complete file. You see the amount, factor rate, fees and payment before you decide.
- Get funded. After you sign, funds usually arrive within 24 to 48 hours of the application. It can be as little as 24 hours.
For the visual version, see our how it works page.
What underwriters look at
Approval is based mostly on your business, not only your credit score. We review monthly revenue, time in business, deposits, existing obligations and industry. To qualify, you need at least 1 year in business and at least $5,000 in monthly revenue. Our minimum credit score is 500.
How to get approved faster
- Send complete, recent bank statements. Missing pages cause most delays.
- Answer your phone and email. A quick reply to a question can save hours.
- Apply for a realistic amount. Use the qualification estimator to set a sensible target.
- Know your numbers. Check the payment against your cash flow with the cost calculator before you apply.
- Keep business and personal accounts separate. Clean statements are easier to read.
What repayment looks like
With our Direct merchant cash advance, repayment is a fixed daily or weekly payment, so you know the amount ahead of time. Terms are typically up to 10 months, and sometimes up to 15 months. After you have paid back 50 to 70 percent and your account is in good standing, you may qualify for a renewal.
Common questions
Do I need collateral?
Not for our Direct merchant cash advance. Other products through partners, such as asset based financing, do use collateral.
Is it a loan?
No. A merchant cash advance is not a loan. It has a factor rate and fixed payments, and it is meant for speed. See the exact ranges on transparent terms.
Where does this fit with other options?
Our business funding page compares every product we offer, including lines of credit and equipment financing.
See what you qualify for
Offers usually come in 1 to 5 hours on a complete file, with funding typically in 24 to 48 hours from application. We use a soft pull only, so applying does not affect your credit score. Apply now or call 1-866-737-6278 (866-Re-Smart). Prefer to start with numbers? Try the qualification estimator and the cost calculator.
All funding is subject to underwriting and approval. Amounts, factor rates, fees and timing vary by applicant and transaction. A merchant cash advance is not a loan. Smart Business Funding® is a registered trademark (U.S. Reg. No. 7,637,151).
