|Loan Amount||Up to $2,000,000|
|APR||10% - 26%|
|Loan Term (Months)||6 - 60|
Where does ForwardLine do business?
ForwardLine is a direct lender based in Woodland Hills, CA. It was founded in 2003 and offers access to business loans in 50 states (and Washington, DC).
What are ForwardLine’s rates?
ForwardLine offers business loans with fixed APRs starting from 10% to 26%.
Does ForwardLine charge an origination fee?
Yes, ForwardLine charges a loan origination fee starting at 0% of the loan amount. ForwardLine 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 ForwardLine set on the purpose of the loan?
ForwardLine 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 ForwardLine offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. ForwardLine provides access to the following business loan types:
- Unsecured term loans
- Merchant Cash Advances
Does ForwardLine charge prepayment fees?Yes, ForwardLine 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.
What is the maximum loan term you can get with ForwardLine?
ForwardLine offers business loans with terms ranging from 6 to 60 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 ForwardLine?
Applicants with a credit score of at least 640 can apply for a loan via ForwardLine. ForwardLine requires companies to be in business for at least 12 months.Businesses must have a minimum annual revenue of $100,000 to be considered.
Only U.S. citizens and permanent residents can apply for a loan. To qualify, applicants may need to provide the following documentation:
- Proof of Identity
- Proof of Income
What is the estimated funding time for a business loan via ForwardLine?
ForwardLine can approve (or deny) a loan application within 24 hours and fund business loans within 1 business day of approval.
Does ForwardLine report loan payments to credit bureaus?
ForwardLine may report credit data to the following credit reporting agencies:
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|Credit Score Range||
640 - 850
|Immigration Status Considered||
|Employment Statuses Considered||
|Minimum Months in Business||12|
|Verification Documents Required||
|Loan Amount||Up to $2M|
|Loan Term (Months)||6 - 60|
|APR (Fixed APR)||10% - 26%|