BizFly Funding - Frequently Asked Questions

We only need you to have a credit card merchant account if you are trying to apply for a credit card split. None of our other programs require a merchant account.

There are so many benefits to merchant cash advances that we created an entire article about it, MCA benefits.

We specialize in small business funding, period. Auto Repair, Construction, E-Commerce, Health & Wellness, Medical, Law Offices, Hospitality, Landscaping, Rehabilitation, Real Estate, Restaurants, and Veterinary are just to name a few industries we serve.

However, if you’ve been in business for over 3 months, and generate an income of over $5000, you are welcome to apply and receive options with the best rates. It will not affect your credit score, and there is no obligation.

Learn more about services we offer and choose the appropriate one to resolve your issue.

According to our policy we never charge an application fee as we have decided that it would allow our clients to apply for a loan without risk or obligation. Once we get you funded we are compensated by the lender. Typical loan application fees are charged by the loan officer or loan broker in an effort to cover the expense of credit checks as well as some administration costs. This fee is almost always optional and many lenders will waive this fee in an effort to earn your business.

We do not charge any loan application fees on any of our loan products. Once we issue a Conditional Approval, there is a minimal closing cost.

Rate factors are only used in a merchant cash advance. They start at 1.15 to 1.50 and are determined by strength of the business and credit of the individual applying. If the business owner has bad credit they will still get approved but will typically have a higher rate factor.

Fill out our One-Page Application, It would be helpful to have the following options:
business tax ID number, average monthly sales and business owner’s social security number.

If a business has credit issues it is best to get it fixed. If business owner can’t wait to fix credit and needs money now then the only option is to apply for an extremely flexible merchant cash advance. We also have resources available that can get your credit back on track as well.

All businesses must be incorporated. LLC’s, Partnerships, C Corps, S Corps are all acceptable corporate structures.

No collateral needed for most of our financial products. We require no collateral for our Unsecured Business Loans, Merchant Cash Advances, as well as our Bad Credit Business Loans.

In order to be considered for a Small Business Loan you must be in business for a minimum 6 months.

The usually time to get approved is 24-48 hours. For Merchant Cash Advances – pre-qualify in minutes, pre-approved within hours, and in some cases same day funding can be applied.

Fill out our One-Page Application and submit your last three months business bank statements to get qualified for a small business loan.