Question 1

How long does the application take?

Accepted Answer

About five minutes online. You share a few basics about your business, then either upload your last few months of bank statements or link your bank securely. Once submitted, your deal is matched to funders and the first offers typically arrive within business hours.

Question 2

What are the minimum qualifications?

Accepted Answer

Typically: at least 6 months in business, $15,000+ in monthly revenue, a personal credit score of 500 or higher, and a dedicated business bank account. Funders weigh your actual revenue and bank activity far more heavily than your credit score.

Question 3

Will applying affect my credit score?

Accepted Answer

No. Checking your funding options uses a soft credit pull only, which has zero impact on your score.

Question 4

What documents do I need?

Accepted Answer

Your last few months of business bank statements — either uploaded as PDFs or provided by linking your bank account securely. Individual funders may request additional items (like a voided check or proof of ownership) after you accept an offer, and you upload those in the app too.

Question 5

Can I apply for more than one business?

Accepted Answer

Yes. Each business runs its own application and its own auction. To keep things clean, only one application per business can be active at a time — but if you own several businesses, each can apply.

Question 6

How does the live auction work?

Accepted Answer

Your application is routed to funders whose criteria match your business. Each can submit an offer, and every offer lands on your dashboard the moment it arrives — amount, factor rate, payment, fees, and estimated time to fund, side by side. You choose the winner. No broker, no phone calls behind your back.

Question 7

Why would funders actually compete?

Accepted Answer

Because the structure makes them. Funders on a deal are told when offers are in play, and a funder only unlocks visibility into competing offers by submitting their own — visibility is earned by participating. That dynamic pushes each funder to lead with their real number instead of an opening ask.

Question 8

What is “Name your price”?

Accepted Answer

If the standing offers aren’t quite where you want them, you can publish the exact terms you’d accept — amount and factor rate — to the funders on your deal. Funders can then meet your terms, beat them, or counter. It flips the negotiation: instead of reacting to offers, you set the target.

Question 9

How long do offers stay open?

Accepted Answer

Each offer shows its own validity. Auctions generally stay live while funders are actively reviewing your deal; if your application sits idle for an extended period you may need to refresh it with current statements, since funders price on recent revenue.

Question 10

What is a factor rate?

Accepted Answer

A flat multiplier that sets your total payback: a $50,000 advance at a 1.30× factor costs $65,000 total. It doesn’t compound like interest. Lower is better, and it’s the number funders compete on most directly in your auction.

Question 11

Are there hidden fees?

Accepted Answer

Every offer on Funding Network itemizes its fees and any payoffs, and computes your “Net to You” — the amount that actually lands in your account — before you accept anything. If a number would surprise you at funding, it was on the offer first.

Question 12

How should I compare offers?

Accepted Answer

Look past the headline amount. Compare total payback (amount × factor), the payment and its frequency against your cash flow, the itemized fees, and your net proceeds. The dashboard puts these side by side on every offer precisely so the biggest number can’t hide a worse deal.

Question 13

Can I pay off early and save?

Accepted Answer

Often, yes. Many funders include early-payoff discount windows — pay the deal off within a set number of days and it reprices at a lower factor. After funding, your deal page shows each window, what a payoff costs today, and exactly what you’d save.

Question 14

What happens after I accept an offer?

Accepted Answer

A short verification checklist: confirm your identity and your bank details (instantly via a secure bank link, or by uploading documents). Once the funder’s checklist clears, contracts go out and you sign electronically — all in the app. Then the funder wires the funds.

Question 15

How fast does the money arrive?

Accepted Answer

It depends on how quickly verification and signatures are completed, which is usually the same day. Many deals fund within one to two business days of acceptance.

Question 16

Do I ever have to leave the platform?

Accepted Answer

No. Verification, document uploads, contract signing, and messaging with your funder all happen on your dashboard. Your documents stay archived there afterwards.

Question 17

How do I track my balance and payments?

Accepted Answer

Every funded deal gets a live card on your dashboard: current balance, paid-down progress, payments left, the next payment, and whether the last one cleared. The full deal page adds the complete payment history, your renewal timeline, and any early-payoff discount windows.

Question 18

What if my revenue drops and the payment is too heavy?

Accepted Answer

You can request a reconciliation from your deal page — asking the funder to adjust payments to match your current revenue. If a payment is modified, your dashboard shows both the original and the modified amount, and who changed it.

Question 19

Can I pause payments briefly?

Accepted Answer

You can request a pause with a proposed resume date — for example, bridging payroll while a large check clears. If your funder agrees, the deal card shows the pause and the resume date. And if you’re ready early, one click resumes payments and notifies your funder — good faith that funders remember.

Question 20

How do I get a balance letter?

Accepted Answer

From your deal page. Some funders let you download one instantly; others fulfill a request. Either way it’s a button, not a phone call.

Question 21

Is my bank data safe?

Accepted Answer

Bank statements and linked-account data are stored in private, access-controlled storage and shared only with the funders matched to your deal. Sensitive identifiers are encrypted, and access is enforced at the database level — not just hidden in the interface.

Question 22

Do you sell my information?

Accepted Answer

We don’t share your information with data brokers or advertisers, and we don’t use it for behavioral advertising. Your application is shared with the funders competing for your deal — that’s the product. The details live in our Privacy Policy.

Question 23

Who can see my application?

Accepted Answer

Only funders matched to your deal, and only what they need to price it. Funders never see your full SSN, and competing funders can’t see each other’s offers until they’ve earned that visibility by bidding.

Questions, answered plainly

Applying & qualifying

The live auction

Offers, rates & costs

After you accept

Payments & after funding

Security & privacy

Still deciding?