SuperMoney 

Finance Factory

in Business Loans from Finance Factory

Claimed Visit Site Get Personalized Rates

Finance Factory

Claimed

in Business Loans from Finance Factory

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote
Cast your vote

Would you recommend Finance Factory to your friends?

Thanks for your vote!

Thanks for your vote!

You voted: May or may not recommend

Highlights
Highlights
Loan Amount $5,000 - $350,000
APR  (Fixed APR) 0% - 149%
Loan Term 36 - 120 months

Finance Factory Review

Where does Finance Factory do business?

Finance Factory is a business financing offering by Finance Factory, based in Towson, MD. Founded in 2006, Finance Factory offers access to business loans in 50 states (and Washington, DC).

What are Finance Factory’s rates?

Finance Factory offers a fixed APR business financing product that ranges from 0% APR up to 149% APR.

Does Finance Factory charge an origination fee?

Yes, Finance Factory charges a loan origination fee of 5% to 10% of the loan amount. Finance Factory deducts the fee directly from your loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.

What limitations does Finance Factory set on the purpose of the loan?

Finance Factory considers loan applications for business purposes, such as:

  • Business Debt Refinance
  • Equipment Purchase
  • Hiring
  • Inventory
  • Lease Improvement
  • New Location
  • Payroll
  • Product or Service Expansion
  • Technology Investment
  • Working capital

What types of business loans does Finance Factory offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Finance Factory provides access to the following business loan types:

  • Unsecured term loans
  • Secured Term Loans
  • Lines of Credit
  • SBA Loans
  • Invoice Financing
  • Merchant Cash Advances
  • Commercial Real Estate
  • ACH Cashflow Loans
  • Bridge Loans

Does Finance Factory charge prepayment fees?

No, Finance Factory does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from Finance Factory?

Loan amounts start at $5,000 and go up to $350,000.

What is the maximum loan term you can get with Finance Factory?

Finance Factory offers business loans with terms ranging from 36 to 120 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for Finance Factory?

Finance Factory does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.

Applicants with a credit score of at least 660 and up to 750 are eligible for Finance Factory.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Finance Factory. Their rates fall within the limits of The Military Lending Act.

U.S. citizens, permanent residents, and non-residents can all apply for a Finance Factory loan.

To qualify, applicants may need to provide the following documentation:

  • Recent pay stubs
  • Proof of income
  • Business formation documents
  • Driver's license
  • Government issued photo ID
  • Proof of identity

What is the estimated funding time for a business loan via Finance Factory?

Finance Factory can approve (or deny) a loan application within 48 hours and fund business loans within 1 business day 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...

Contact

Message from Finance Factory

Finance Factory is a leader in the startup and alternative business funding spaces. Founded in 2006, Finance Factory has helped solve the challenge of early-stage business owners obtaining capital to acquire, launch or grow their small business. Over the past 12+ years, Finance Factory has successfully established over $1 billion in funding for entrepreneurs nationwide. Finance Factory has an A+ Accredited rating with the Better Business Bureau.

About Finance Factory

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 50 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
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Prepayment Fee  
Origination Fee 5% - 10%
Credit Score Range 660 - 750
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
  • Non-Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Revenue $0
Verification Documents Required
  • Business Formation Documents
  • Government Issued Photo ID
  • Proof of Identity
  • Proof of Income
  • Recent Bank Statements
  • Recent Pay Stubs
  • U.S. Tax Identification Number
  • Driver License (or other photo ID)
Loan Amount $5K - $350K
Loan Term 36 - 120 months
APR (Fixed APR) 0% - 149%

Be the first to rate

 

Would you recommend Finance Factory to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
Cancel my vote
(will require moderator approval)

Other Business Loans

Fora Financial
Rating not yet determined In our efforts to provide the community with the most accurate information, recommendation rating is not determined until a sufficient number of SuperMoney users cast their vote

3 Reviews

OnDeck
Mostly recommended

13 Reviews