Q: Why do businesses choose short term loans?
A: Traditional lenders make it hard and nearly impossible for small business owners to borrow cash with strict eligibility requirements, slow approval speeds and unfavorable terms. Short term loans provide fast approval speeds, more lenient eligibility requirements and shorter repayment terms for business owners that need immediate funding. Round Up Cash understands these needs and works for you to get your business the funds it needs.
Q: Will I be charged an application fee?
A: No. There is no obligation or application fee associated with getting approved through Round Up Cash.
Q: How much can I expect to qualify for?
A: Your loan amount will be based on a number of factors but not limited to: personal/business credit history, business industry type, annual gross business revenue. Request a quote today to learn how much your business qualifies for!
Q: How long is the approval/funding process?
A: Our approval process is fast and simple! Get approved in as little as 24 hours and funding as soon as the next day after accepting an offer. We’ll be as quick as you are responsive!
Q: Will my credit score affect my eligibility for a business loan?
A: Yes. However, give us a call to find out. Perfect credit is not a requirement for this loan and only one of many factors in play when determining your eligibility.
Q: Will you pull my credit?
A: Once you have spoken to one of our team members and filled out a loan application we will conduct a “soft pull” credit check which will not affect your consumer credit score.
Q: Do I have to provide collateral?
A: We do not require any collateral.
Q: How are repayment terms determined?
A: An ACH fixed payment schedule will be set up for the term of the loan based on your specific repayment terms. ACH payments ensure you never miss a payment and the predictability of future cash flow.
Q: Are there restrictions on how I can use my funds?
A: Unlike traditional lenders, there are NO restrictions on how the funds are used, giving you freedom to choose where you spend your funds.
Q: Is there a prepayment penalty?
A: You can choose to pay off the entire balance of the loan at any time without being charged a penalty.
Q: Can I borrow more in the future?
A: Yes. Many of our borrowers choose Round Up Cash for multiple rounds of funding. For our highest qualified borrowers, we can potentially refinance your short term business loan into a long-term SBA loan through our business partner.
Q: Does Round Up Cash service personal loans?
A: No. Round Up Cash only services small business short term loans.
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