Where does Finance Factory do business?
Finance Factory is a lending platform based in Towson, MD. It was founded in 2006 and offers access to business loans in 50 states (and Washington, DC)
What are Finance Factory’s rates?
Finance Factory is not a direct lender or loan broker, so it has no control over the interest rates lenders charge. These vary depending the loan amount, repayment period and creditworthiness of the business and its owners. One of the advantages of using Finance Factory is that lenders compete for your business and you can pick the lender with the lowest interest rates and fees.
How much can you borrow from Finance Factory?
Maximum loan amounts vary by lender. One of the advantages of Finance Factory is being able to filter from many lenders to those who can fund the loan you need. Loan amounts start at $5,000 and go up to $1,000,000.
What do you need to qualify for a loan with Finance Factory?
Applicants with a credit score of at least 640 can apply for a loan via Finance Factory.
Finance Factory does not require borrowers to have been in business for a minimum number of years. Active duty servicemembers and their covered dependents are eligible to apply for a loan via Finance Factory. Its rates and terms fall within the limits of The Military Lending Act.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
- Proof of income
What is the estimated funding time for a business loan via Finance Factory?
Finance Factory will typically approve (or deny) a business loan application within 48 hours and fund the loan within 48 business days of approval.
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...
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
- Active Duty Military
- Military Dependent
- U.S. Citizen
- U.S. Permanent Resident
- Proof of Identity
- Proof of Income