Providing Solutions For Small Businesses.
Fairway Funding has all the tools your business needs to grow and succeed.
Small Business Loan
So, what is a small business loan? Simply put, a small business loan is any funding option specifically designed for a small business. Small business loans allow existing or startup companies to borrow money from various lenders. Various loan types exist to help entrepreneurs meet different goals. The way each loan works depends on the type of loan.
How Does Small Business Loans Work?
There are many business loans on the market and it can be beneficial to go over just a few of them.
Term Loan - A standard bank-type loan. You receive the funding and pay off the principle plus interest over time.
Equipment Financing - An excellent way for a growing business to get an edge. You receive the equipment upfront and pay it off over the life of the equipment.
Accounts Receivable Financing - If you have large amounts of outstanding invoices, you can borrow against them. The invoices act as collateral and AR Financing offers lower rates.
Merchant Cash Advance - A merchant cash advance is borrowed against future credit card sales. A borrower then pays back a percentage of daily CC sales to the lender. So, you never have to see the payments!
Business Line of Credit - A business line of credit works just like a non-physical credit card. The owner of a small business is extended a line of credit and is charged the interest-only or what is spent.
Simple Application
Our simple online application can get you matched with offers in minutes.
No Minimum FICO
Bad credit? No problem! Most of our top financing options have no minimum FICO.
Larger Amounts
Get matched with the best financing options with the highest funding amount.
Same Day Funding
Our Turn-around Speed can get you in and out of Underwriting in just a few hours, and same-day funding!
What do you need to qualify?
You can qualify for our top funding options with as little as 3+ months in business. The minimal revenue to qualify for financing options are 15,000+ per month, or $180,000 in annual gross sales. We have financing options for all credit profiles. There is no minimum FICO score required to apply.
Merchant Cash Advance
A Merchant Cash Advance (MCA) isn’t technically a loan, but rather a cash advance that is paid back by withdrawing a percentage of your credit sales, typically on a daily basis. Since a merchant cash advance is based on a certain percentage of the daily balance, the more credit card sales a business does the faster they are able to repay the advance. On the other hand, during times of slow business, the payback would be reflective of the incoming cash flow.
How Does a Merchant Cash Advance Work?
A merchant cash advance lender will provide you a lump sum of money in exchange for a percentage of your future credit card sales. Instead of making a fixed payment over a period of time your loan is paid back usually daily or weekly by the lender collecting that set percentage of your credit card sales.
Simple Application
Our simple online application can get you matched with offers in minutes.
No Minimum FICO
Bad credit? No problem! Most of our top financing options have no minimum FICO.
Larger Amounts
Get matched with the best financing options with the highest funding amount.
Same Day Funding
Our Turn-around Speed can get you in and out of Underwriting in just a few hours, and same-day funding!
What do you need to qualify?
You can qualify for our top funding options with as little as 3+ months in business. The minimal revenue to qualify for financing options are 15,000+ per month, or $180,000 in annual gross sales. We have financing options for all credit profiles. There is no minimum FICO score required to apply.
Business Line of Credit
A business line of credit is a type of small business loan that gives a business flexibility when accessing funds. Rather than a fixed amount at one time, funds are accessible as needs may arise. The idea is to allow you to be able to scale your business without being hindered by hiccups along the way. Some of these scaling activities may include inventory purchases, machine repairs, taking on new opportunities, and bridging the occasional cash-flow gap.
How Does a business line of credit Work?
For better loan terms it is important for your small business to maintain a good credit score to help build its profile. Making on-time payments and paying down your debt on a regular basis are some of the ways to maintain your credit score. Depending on your needs, a business line of credit could be one of the most straightforward solutions to meet your business goals.
Simple Application
Our simple online application can get you matched with offers in minutes.
No Minimum FICO
Bad credit? No problem! Most of our top financing options have no minimum FICO.
Larger Amounts
Get matched with the best financing options with the highest funding amount.
Same Day Funding
Our Turn-around Speed can get you in and out of Underwriting in just a few hours, and same-day funding!
What do you need to qualify?
To learn more about how a business line of credit can help with working capital in your business complete our application to speak with a business funding advisor.