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Frequently Asked Questions

We've listed answers to the most popular questions here.

We process loans quickly. It depends on how quick you are to submit the necessary documentation required for verification. If you do so quickly a loan advisor reaches out within one business day to review your offer and complete the online checkout. You can receive funds as fast as the same business day after approval.

There is a number of industries that typically meet approval easier, for which reasons we are not exactly certain. The industries which seem to perform well with small business loans are: Restaurants, Juice Bars, Coffee Shops, Retail Stores, Liquor Stores, Daycare Centers, Children Stores, Clothing Stores, Variety Stores, Hair and Beauty Salons, Optical Stores, Jewelry Stores, Automotive Repairs, Home Furniture, Equipment Stores, Taxi and Limo Services, Healthcare Industry, Windows and Installations, Electricians, Plumbing Services and Delivery Services. Click here to see an entire list of preferred borrowers.

Yes, sole proprietors are still able to get funding. We have several lenders which will not disqualify you for sole proprietorship or individual entrepreneurship status.

Qualifying for a loan is simple. The basic requirements are:

  • Your business has a steady stream of revenue.
  • You can prove your revenue with bank or merchant statements.
  • You have an active bank account that allows for direct deposit and withdrawals.

To be approved for a merchant cash advance, you must meet the basic requirements above. The specific lender you are matched with may have additional eligibility requirements based on its own approval criteria. Factors such as income, merchant statements, credit history and state of incorporation may affect the approval of your loan or the amount that you are approved for.

Qualified loan amounts can vary and are based on eligibility. Approved loan amounts can range between $5,000 to as much as $500,000 depending on your businesses situation and industry. Lenders may also take into account the performance of other loans by businesses which fit your classification.

Yes! Business Union Capital is partnered with lenders who specialize in lending to those with less than perfect credit. Unlike traditional lenders that only consider your credit score, we look at additional areas of your finances, including sales volume, income and other factors. Our lenders' flexibility allows for applicants with good, bad or even no credit to be approved for a loan as long as they meet the minimum eligibility qualifications of a steady source of income and an open bank account. However, if you are opting for an SBA Loan, please note that governmental requirements are generally much stricter.

If your application has been approved, Business Union Capital will direct you to your lender's agreement page where you can review and electronically accept different rates and repayment terms. You will receive this notification generally by email confirmation with a direct link to the loan agreement page.

Once your application is approved and you've electronically signed for your loan, funds are directly deposited into the borrower's checking account. Deposit times may vary based on your businesses eligibility and your bank. Funds are usually deposited into your bank account by the next business day.

Cost of borrowing varies and is based on a borrower's eligibility for a loan. Upon approval for a loan, rate and repayment terms are presented to you. Remember, no loan is issued unless you, the borrower, electronically accepts the rate and repayment terms.

Your loan is typically due on a weekly, and in some scenarios, monthly basis. However, some lenders will allow for custom repayment options for a fee. Please contact your lender directly if you have repayment questions or for early termination options. If you have received and are using a business line of credit, generally there are no early termination fees. Check with your lender to see what type of loan you are using and whether or not, early termination fees apply.

Business Union Capital is a loan matching service provider, not a direct lender. The lender you are matched with has its own policies regarding late payments. These policies can be reviewed within the lender's terms and conditions before accepting a loan. If you are unable to make a payment on time, please contact your lender directly to discuss an alternative payment schedule.

Yes. Business Union Capital utilizes industry standard security protocol and enhanced data encryption technology to ensure that your information is 100% safe and secure on this site. Additionally, once your information is delivered to the lender, that information typically secured by similar means.

Yes. Although we recommend that you complete the online application for the quickest and most favorable results, you can also call us at the number on the bottom of the website during normal business hours to apply by telephone. You will still need to upload documents online.

Yes. Our loans help build business credit and interest on these loans is fully tax-deducible. Total loan payback may also be cheaper than banks and merchant cash advances.

Yes. If you franchise a highly-reputable business you are likely to have an easier time getting franchise financing. Many lenders prefer franchise businesses they have worked with before and have had no problems with repayments on loans.

Our company assists business principles (owners) with small business financing through a network of lenders who look closer at sales volume than ownership credit so that loan approvals can avoid strict requirements which a traditional bank loan does. Business loans based on sales volume are much quicker, easier and convenient to acquire so owners and principles can address short term and immediate financial needs, like equipment purchases, acquisitions, or just a need of working capital.

Additional Details: Eligibility for the lowest rates with prospective lenders is limited, available only to businesses with the strongest creditworthiness, cash flow, and typically businesses that have shown an excellent payment history on prior loans. Rates subject to change without notice. Lines of Credit allow borrowers to draw the cash directly into a business checking account at any time. Only pay interest on what you draw. Pay back your balance early any time. Receive line of credit draws almost immediately in your bank account. Loans in good standing are eligible for renewal once they are 50% paid down and meet the following criteria: No more than 3 missed payments during past loan term. Zero past due balances at time of renewal. No stacking small business financing with other lenders. The renewal will be a new loan in which a portion of the proceeds is used to pay off the current active loan. Required for approval on all loans: Recent banks statements. We work with a very expansive list of industries; please see the list of preferred borrowers. A one-time origination fee to cover the cost of processing the loan may apply depending on the lender. For more information please see our frequently asked questions.
Downloadable Documentation: Term Loan, Term Loan and Line of Credit, Line of Credit Only   Adobe