While Fundation hopes to make it easy for small businesses to acquire funding, it also ensures that the entire process of lending is profitable for the investing banks. As such, both lenders and borrowers get to grow their revenue easily.
What type of funding does Fundation provide?
What do I need in order to qualify for funding?
You will need a few things to qualify for funding:
- Credit score of 660.
- Yearly revenue $100,000
- 3 employees
How do I apply to get funding?
To apply for funding, follow the following steps:
Step 1: Provide your business’s basic information
Step 2: Provide information about your business’s industry
Step 3: All your business information will be reviewed review all the provided information.
What is the process to receive funding?
After approval, the money is send to your account as soon as possible.
Does Fundation run a credit check?
Do I have to provide security or a guarantee?
Are there fees involved?
Cost of funding: 8%-30% APR
What are the loan rates?
The loan rates 7.99%
What documentation do I need to provide?
You will need to provide documents to prove the ownership of the business, the financial position of your business and its credit scores such as the Tax ID number of your business, bank data, and your social security number.
How long will it take for money to get into my account?
In general, applying and receiving funds is fast; you get your money after 3 days.
What happens in the case of a default?
Fundation works towards recovering the loan amount, with an interest by assigning your account to a collection agency.
Is FundingGroup regulated?