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  FastPay Capital

FastPay Capital

in Accounts Receivable Financing from FastPay Partners LLC

Unaffiliated

FastPay Capital

Unaffiliated

in Accounts Receivable Financing from FastPay Partners LLC

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Highlights
Loan Amount $5,000 - $100,000
APR  (Fixed APR) N/A
Minimum Months in Business N/A
Minimum Revenue $0

FastPay Capital Review

FastPay Capital is offered by FastPay Partners LLC, a direct lender founded in 2009 and based in Los Angeles, CA. FastPay Capital is available in 48 states (and Washington, DC).

FastPay Capital FAQ

What APRs does FastPay Capital offer?

The cost of accounts receivable financing is typically calculated as a percentage of the invoice value, which is charged monthly. Pricing varies widely depending on several factors, such as how long you it takes to repay the invoice advance.

Does FastPay Capital charge an origination fee?

No, FastPay Capital does not charge an origination fee. An origination fee is what some lenders charge for processing, underwriting, and funding a business financing product. Typically fees range from 0.5% to 5% of the total amount advanced. Whenever possible, go with lenders that don’t charge origination fees.

How much cash can you get from FastPay Capital?

FastPay Capital advances with cash amounts start at $5,000 and go up to $100,000.

What type of invoice collection structure does FastPay Capital offers?

FastPay Partners LLC collects payment for invoices directly from clients.

What types of invoices does FastPay Partners LLC accept?

FastPay Capital accepts the following invoice type when applying for accounts receivable financing.

  • Business-to-business invoices (B2B).

What are the business financing requirements for FastPay Capital?

To apply for FastPay Capital, the borrower needs to provide the following business document:

  • Business license
  • Business bank account

What limitations does FastPay Capital set on the purpose of the loan?

FastPay Capital considers accounts receivable financing applications for business purposes, such as:

  • Working capital
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From FastPay Capital

See how FastPay Capital is helping media and tech companies scale faster and access working capital within a structure custom-built to meet the needs of the industry.

Message From Our Editor

What We Love About Fastpay Loans

Fastpay Loans offers a financial alternative for new businesses that need venture capital. Those who don’t have established credit and need to find a way to fund their business can use equity to exchange for capital, offering a solution to help digital media brands grow and thrive. This type of funding is as unique as the people who need it, and it is changing the way the media industry finances its business needs.

Another big selling point of Fastpay Capital is that the team is comprised of people who understand the difficulties and unique nature of modern financing and have backgrounds in finance, media, entertainment, legal, technology, and design. This means that the company truly understands the lending needs of this industry.

What Could Fastpay Do Better?

The entire premise of Fastpay is that businesses are given financing for their operations and then asked to repay those funds using a percentage of their sales or income. The concept is good; the disadvantage is this: they don’t generally give you choices or terms on the repayment end. Fastpay will typically require a certain percentage of each sale to repay the loan, which will usually be locked in for everyone.

Fastpay Backstory

Fastpay was founded in 2009 as a financial technology brand that helps provide liquidity and financial workflow solutions to the digital media industry. The company leverages proprietary analytics and technology to address common issues like inefficient processes and long payment terms, helping companies get the capital they need. Their headquarters are in Los Angeles, and the company also has offices in New York, Boston, San Francisco, and London.

Since the company was founded, it has originated more than $2 billion in working capital loans for small to mid-size businesses.

The Verdict

When a company is not in a place to take on a traditional loan, Fastpay is easy with no personal guarantees or credit checks required. Funding is also quick and seamless, alleviating concerns for several small media companies.

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Availability

  Available in 48 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Origination Fee
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 500 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Invoice Collection Structure Collected By Lender Directly
Invoicing Type B2B
Military Status
  • Non-Military
  • Veterans
Minimum Age 18
Minimum Revenue $0
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • U.S. Tax Identification Number
  • Recent Bank Statements
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Collateral Requirement Unsecured
Intended Use of Funds
  • Working Capital
Approval Speed 48 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Frequency Monthly
Payment Options
  • Automatic Payments
  • Credit/Debit Card
  • Bank Transfer
Loan Amount $5,000 - $100,000

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