Features

Where does Forward Financing do business?

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)..

Does Forward Financing charge an origination fee?

Yes, Forward Financing charges a loan origination fee of $300 to $995 

What limitations does Forward Financing set on the purpose of the loan?

Some lenders only provide business loans for certain purposes. Forward Financing offers considers loan applications for the following reasons:

  • Equipment purchase
  • New location
  • Product or service expansion
  • Working capital
  • Business debt refinance

What types of business loans does Forward Financing offer?

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:

  • Unsecured term loans

Does Forward Financing charge a late fee?

No, Forward Financing will not charge you a late fee. Yes, Forward Financing charges borrowers with a late payment fee.

Does Forward Financing charge prepayment fees?

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.

How much can you borrow from Forward Financing?

Loan amounts start at $5,000 and go up to $300,000.

What is the maximum loan term you can get with Forward Financing?

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.

What do you need to qualify for a loan with Forward Financing?

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:

  • Proof of citizenship or residence permit
  • Proof of income

What is the estimated funding time for a business loan via Forward Financing?

Forward Financing can approve (or deny) a loan application within 1 hour and fund business loans within 1 business day of approval.

  • Credit Score Range
    500 - 850
  • Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Other
    • Retired
    • Self-Employed
  • Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
  • Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
  • Minimum Revenue
    $10000
  • Verification Documents Required?
    • Proof of Identity
    • Proof of Income
    • Proof of citizenship/residence
  • Origination Fee ($)
    $300 - $995
  • Business Loan Type
    • ACH Cashflow Loan
    • Unsecured Term Loan
  • Intended Use of Funds
    • Business Debt Refinance
    • Equipment Purchase
    • Lease Improvements
    • New Location
    • Product or Service Expansion
    • Working Capital
  • Approval Speed (Hours)
    1
  • Funding Time Range (in days)
    1
  • Loan Amount
    $5000 - $300000
  • Loan Term Range (Months)
    Up to 12
  • Max Loan Term (Months)
    12
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