Forward Financing Review

Forward Financing is a business financing offering by Forward Financing LLC, based in Boston, MA. Founded in 2012, Forward Financing LLC offers access to business loans in 50 states (and Washington, DC).

What are Forward Financing’s rates?

Forward Financing offers a business financing product that ranges from 10% APR up to 200% APR.

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:

• Business Debt Refinance
• Equipment Purchase
• Lease Improvement
• New Location
• Product or Service Expansion
• Working capital

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:

• 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 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 to be considered.

Applicants with a credit score of at least 500 and up to 850 may be eligible for Forward Financing.

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 Forward Financing. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Forward Financing. Permanent resident / green card holders are also eligible to apply.

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

• Proof of income
• Proof of identity
• Proof of citizenship or residence permit

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.