FAQs

Getting Started

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. 

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

Financing sizes and terms vary depending on the financing type and the borrowers’ profiles. Our financing sizes range from $100,000 to $75,000,000. Repayment terms vary from 1 to 30 years.

To provide you with the lowest cost of money, BorrowPartner offers one of the largest selections of business financing solutions anywhere. These include Asset-Based Lending, Specialty Finance, Invoice Factoring, Equipment Financing, Working Capital Financing, SBA Loans, and Real Estate Financing. 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.

Application Process

Processing time varies based on the types of financing. Working capital loans and lines of credit are generally the fastest, sometimes within a day or two. SBA financing will typically take longer. Other financings are subject to due diligence and vary on a case-by-case basis. Contact us for specific information about your 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 return your preferred offer, the funds are typically deposited in your account within 1 business day, sometimes within a few business hours. Find out more about how it works. 

Depending on the financing type and capital sources, you may receive your money as quickly as one business day after approval. You will also receive an automatic email notification of the transfer.

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.

About Your Financing

You are free to spend your funds on any purpose as long as it is related to your business.

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. 

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. 

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.

Security and Privacy

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.

All information you share with BorrowPartner is secured using bank-grade encryption protocols. We use industry-standard SSL/TLS encryption for data transmission and encrypted storage for all sensitive information. Access to your data is strictly limited to personnel directly involved in processing your application. See our Privacy Policy for complete details.

Working with BorrowPartner

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

You can apply through our Partner 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. 

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. 

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. 

Resources

Easy. You can access your full 3-bureau credit report and FICO scores instantly through MyScoreIQ. They provide all three reports for just $1 during the 7-day trial period, and you can easily cancel or continue the service afterward. It is a quick, secure way to see exactly what lenders see before applying.

Get the financing your business needs to grow

Applying for financing with BorrowPartner does not affect your personal credit score

Apply Now
Scroll to Top