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).
What are Forward Financing’s rates?
Forward Financing offers business loans with fixed APRs starting from 10% to 200%.
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?
Forward Financing considers loan applications for business purposes, such as:
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
- Merchant Cash Advances
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 terms ranging from 4 to 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 requires companies to be in business for at least 3 months. Businesses must have a minimum annual revenue of $150,000.
Only U.S. citizens and permanent residents can apply for a loan Forward Financing only considers borrowers who are employed or self-employed. To qualify, applicants may need to provide the following documentation:
- Proof of Identity
- Proof of Income
- Proof of citizenship/residence (Green Card)
What is the estimated funding time for a business loan via Forward Financing?
Forward Financing can approve (or deny) a loan application within 1 hour and fund business loans within 1 business day of approval.
36 Bromfield Street, 2nd Floor
Boston, MA 02108 USA
- Visit Site
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|Origination Fee ($)||$300 - $995|
|Credit Score Range||
500 - 850
850 300 500
|Immigration Status Considered||
|Employment Statuses Considered||
|Minimum Months in Business||3|
|Verification Documents Required||
|Loan Amount||$5K - $300K|
|Loan Term (Months)||4 - 12|
|APR||10% - 200%|