No, competitor payoffs are not required. We have lenders that are willing to take a 2nd or 3rd position. In some cases, they will provide enough funding to pay off an existing loan in addition to getting working capital.

You will need to provide a completed application, the last 3 months of business bank statements, photo ID, and voided business check. 

We fund businesses in the United States, including the U.S. territories of American Samoa, Guam, Northern Mariana Islands, Puerto Rico and the U.S Virgin Islands. We also fund in Canada. 

The minimum credit limit that can be provided is $5,001, and also follows the state-level lending requirements for loans. On the other hand, the maximum credit limit that can be granted is $55,000.

$1,000

This is a weekly payment schedule and the default day is Monday. Clients can choose to change the payment day.

There are 2 Main Fees:

1.  4% Draw fee is accessed on the amount each time a draw is made on the account.

2.  Balance fee is accessed weekly based on the average daily balance owed during that week. The balance fee is charged on every weekly payment date and accrues Daily. Meaning, on any given day including weekends! (Remember it’s like a Credit card), the cost of the line of
credit is the average unpaid balance at exactly 11:59pm each day multiplied by the balance fee.

The payment is calculated by taking the sum of all balances and fees and dividing it by the term, in days* then multiplying it by seven (7) which is the number of days a LOC’s weekly payment!

The first draw will be required at account opening and this will be carried out, similar to a weekly loan. The client has the option to choose whether to take the entire line or just a portion of it.
The minimum draw amount throughout the term is set to $1,000.

Your weekly repayments will be ACH'd from your business checking account on file on the scheduled payment date. You only pay towards the balance owed.

The business lines of credit is set for 6, 9, and 12-month terms. At the end of the term, a client can renew their line of credit and terms (considering repayment history is in good standing).

Our application process is built around an integrated communication center that gives our lenders, loan advisors, and underwriters instant access to the information they need to approve your working capital loan. Your funding can be approved in as little as 2-5 business hours, with working capital available in as little as one business day. 

Approval for funding through Lionsford is based on more than just your business’s credit score. We take into account multiple factors, including:

• Business revenue
• Cash flow
• Vendor payment history
• Years in business

We do not fund startups. To qualify for funding through Lionsford, your business must be in operation for at least 6 months. 

We can help businesses in most industries, including high-risk industries. This includes attorneys, dental practices, medical practices, automotive dealers, construction companies, restaurants, retailers, manufacturers, gas stations, dry cleaners, pharmacies, business services, and more.

Of course! At Lionsford, we know your business’s credit score doesn’t always tell the whole story. That’s why our approvals are based on more than just your credit score. We look at the overall health and potential of your business, including:

• Business revenue
• Cash flow
• Vendor payment history
• Years in business
• Public records

No. Our lenders trust that small business owners know best how to use their funding, so they don’t restrict how you use your funds.

Yes. Once you have repaid 50% of your original cash advance, you are eligible to apply for another cash advance called a renewal. In most cases, the lender will also increase the amount of the advance you are eligible to receive.

We can get you funded from as little as $5,000 up to $5,000,000.