Forward Financing is a direct lender based in Boston, MA. It was founded in 2012 and offers access to business loans in 50 states (and Washington, DC)..
Yes, Forward Financing charges a loan origination fee of $300 to $995
Some lenders only provide business loans for certain purposes. Forward Financing offers considers loan applications for the following reasons:
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Forward Financing provides access to the following business loan types:
No, Forward Financing will not charge you a late fee. Yes, Forward Financing charges borrowers with a late payment fee.
Yes, Forward Financing charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.
Loan amounts start at $5,000 and go up to $300,000.
Forward Financing offers business loans with a maximum term of 12 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.
Applicants with a credit score of at least 500 can apply for a loan via Forward Financing.
Forward Financing 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 Forward Financing. 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:
Forward Financing can approve (or deny) a loan application within 1 hour and fund business loans within 1 business day of approval.
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