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Blog
Jul 16, 2021
3 min read
Last update: May 17, 2024

10 Most Common FAQ About Small Business Funding

Trying to decide if small business financing from SBG Funding is right for you? Here is a list of the top 10 frequently asked questions we get about our small business funding products to help facilitate your decision.

  • How long is the process?

Applying only takes 2 minutes. Once we receive the signed application and bank statements, we’ll send you an offer within 1 day. As soon as you’re approved, we can have the funds in your account within 24 hours.

  • How long are the terms of your financing products?

The terms of our financing products range from 6 months to 5 years. Each product has slightly different terms and conditions.

  • Are there any prepayment penalties?

No. Depending on the product you choose, you may be eligible for no prepayment penalty allowing you to fully prepay your loan at any time and owe none of the outstanding interest, or a prepay discount which gives you a significant discount off of any remaining interest when the loan is paid off.

  • How much money will I be able to borrow?

The loan amount is determined by each business’s monthly revenue and cashflow. As a rule of thumb, our clients qualify for an average of 75% to 150% of their monthly revenue. If you need more funding than what you qualified for, SBG Funding can supplement most loan approvals with an additional line of credit.

  • What if I have bad credit?

Bad credit score is not a problem. With SBG Funding you will get a personalized financing solution, despite your credit background. Your credit only plays a role in determining which products you are approved for and what the terms of the deal will be.

See how to check your FICO/credit score or learn how it is calculated!

  • Do you have to pull my credit? I’m concerned about affecting my credit score. 

Applying will not impact your credit score. For an approval, we do a “soft pull” on your credit which does not negatively impact your score. If you decide to move forward with the approval, then we will do a “hard pull” prior to funding.

  • How is SBG Funding different from my bank?

Unlike typical lending institutions, SBG Funding is efficient in helping you access financing that is not limited by the same time-consuming, stringent regulations as traditional banks.

  • Do I need collateral to secure my loan?

No. Unless you take out equipment financing or get a loan based on property, all of our financing options are completely unsecured and uncollateralized.

  • Is my information secure?

Yes! At SBG Funding we’re fully committed to protecting our customers and their data. We have a state-of-the-art data privacy server and continuously work to strengthen our practices as new technology evolves.

  • What industries do you serve?

We serve a bunch of different industries! Don’t see your specific industry listed below? Don’t worry! Give us a call at (844) 284 – 2725 or contact us here. We offer custom tailored approvals specific to each business’s needs. Here is a partial list of the industries we serve:

Let’s get your business moving!

Have a question that’s not listed? We’ve got answers! Give us a call at (844) 284 – 2725 or email us at info@sbgfunding.com.

As leaders in small business growth funding, we understand that timing is everything. Unlike most banks, we’re focused on providing the most flexible financing options available, and we do it quickly! At SBG Funding we keep the application process simple so you can focus on meeting your business needs, from keeping payroll covered to purchasing more inventory in busy seasons. For more information about how we can help your business grow, click here.

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Great stuff!

A funding specialist will get back to you soon.

If you can’t hang on then give us a call at (844) 284-2725 or complete your working capital application here.

Apply now