FAQs

You are free to spend your funds on any purpose related to your business.

We appreciate your interest in joining BorrowPartner. We have openings for remote business development managers. Visit our careers page.

You may qualify for additional capital if:

• You repaid 50% or more of your last financing,
• You didn’t choose the maximum amount in your prior financing, or
• Your company revenue increased significantly since your last financing. 

We would need to review it, but, in most cases, yes. If you already pledged your accounts receivable, we would need to work with your current lender to structure a subordination agreement. 

In both cases, working capital is issued against a collateral. Invoice factoring requires the sale of accounts receivable at a slight discount. Asset-based lending (ABL) does not require such a transfer of assets. Instead, with ABL, assets are collateralized and monitored against the working capital. The advance rate (the percentage of the asset’s value guiding the working capital amount provided) is often lower with ABL.

You can apply through our Loan Agent program. Whether your business already offers products or services to small and medium companies, or you want to start this on your own, team up with BorrowPartner to offer best-in-class financing solutions. Learn more here. 

No. The way we see it, your information is yours, not ours. We use your information to process the transactions with which you entrust us. We don’t sell it, never have, and never will. Your information is safe with BorrowPartner. See our Privacy Policy for more details.

No. Applying for business financing with BorrowPartner does not affect your personal credit score. In some cases, lenders might request a “hard” credit pull, but it will be before transferring the funds to you and after you have reviewed and accepted their offer. To obtain and monitor your credit score today, BorrowPartner recommends MyScoreIQ. 

Processing time varies based on the financing type. Business loans and lines of credit are generally reviewed and approved within a day or two. SBA financing will typically take longer. Contact us for specific information about your specific loan. In all cases, complete applications are generally reviewed within one business day, and offers are sent to you as soon as they are received from the lenders. After you select and send back your preferred offer, the funds are typically deposited in your account within one business day, sometimes within a few business hours. Find out more about how it works. 

You should receive your money within one business day after approval, sometimes as quickly as a few hours. You will also receive an automatic email notification of the transfer.

All information that you share with BorrowPartner is secured using bank-grade encryption protocols.

Yes, you can. Business lines of credit allow you to draw down funds as needed. You can apply even if you don’t need the funds right away. Securing a line of credit early will ensure your funds are available when needed.

Easy. Simply visit MyScoreIQ and you will get it in minutes. 

BorrowPartner works with established businesses that demonstrate consistent revenue and responsible financial management. Lenders typically look for:

• At least one full year of operating history
• Regular business banking activity
• Sufficient cash flow to support repayment
• A credit profile that reflects sound financial practices

Exact requirements vary by financing type and industry. We review each application individually to match businesses with the most competitive options available.

Besides personal credit scores, other factors that we consider include:

• Business revenues
• Years in business
• Total existing debt
• Cash flow
• Percentage of business owned
• Business credit score
• Payment history
• and others…

To provide you with the lowest cost of money, BorrowPartner offers one of the largest selections of business financing solutions anywhere. These include SBA Loans, Real Estate Financing, Business Loans, Business Lines of Credit, Invoice Factoring, Equipment Financing, and Asset-Based Lending. One easy online application is all you need to get started, and our expert financing advisors will review your information and, with you, identify the best financing options for your business.

Required:

• Driver’s license – used to confirm identity
• Recent business bank statements – typically the last three months, used to review deposits and revenue consistency
• Voided business check – to set up funding and repayment

Sometimes requested:

• Prior year tax return – may be required for larger requests or additional underwriting
• Merchant processing statements – used when credit-card sales are part of your business revenue

Non-working-capital financings, such as SBA, or factoring programs, or Real Estate may require additional documentation. You will be able to upload the necessary documents directly during the online application. Our advisors will let you know if anything else is needed.

BorrowPartner is an awesome business financing brokerage platform. We identify, customize, and secure the very best financing solutions for our small and midsize business clients. We are easy to work with, we are available, we are flexible, and we are pleasant. 

We are serious about what we do. If you work with us, you will be glad you did. If you don’t work with us, well, you won’t know how happy you could have been – and we will be sad, but we’ll still wish you success with your business. 

Funding sizes and terms vary depending on the type of financing. In general, our financings range from $50,000 to $750,000,000, with repayment terms of up to 35 years.

We are experts at what we do, and we do it well.

Banks require weeks to complete an application, demand a collateral, and are slow to respond. Venture Capital firms dilute your equity in your own business and sometimes even take over. Direct lenders offer limited selections of financing products that they don’t adapt to your needs. Some don’t even fully disclose their fees.

At BorrowPartner, our financing recommendations are based on your business needs – not on anyone else’s, our easy application takes minutes, and there are no surprises. We minimize the paperwork requirements. We bring you the best available financing options available for your business. We reduce the time to access funds. 

BorrowPartner is your partner in financing. Find out more about us.

If you previously received funding for your business from a different financing platform, we recommend you brace yourself for a shockingly different experience when working with BorrowPartner.

Working with us might be simpler than expected, save you money, and even be fun. It might even compel you to return for more funding as you grow your business.