Lenders look at businesses with strong performance, personal credit score is not important to most lenders, even owners with poor credit histories can be approved. Most lenders require a personal score of only 500+.

Tax liens up to $175,000 or open bankruptcies in the last year will not disqualify your business from a business loan, you can still get approved. Let us help you find the right funding option.

Yes. The primary reason SparkBusinessLoan was created is to help businesses that don't qualify for typical bank financing. Your business can qualify for a business loan/advance through our network of financing partners even if you’ve already been turned down by a bank.

No. Our funding partners provide their financial products based on the strength of your business, so personal collateral is not required to receive funding.

The SparkBusinessLoan network of funding partners offers small business funding in amounts ranging from $2,000 up to $250,000.

Simple, your business is more likely to receive funding when you work with SparkBusinessLoan because banks are far too conservative and make it difficult, if not impossible, for small businesses like yours qualify for a bank loan. SparkBusinessLoan also offers several distinct advantages compared to a typical bank:

• Our network of elite funding partners gives you more funding options
• You'll save time with our simple and secure online application process
• You'll have access to funding with repayment options that work for your business
• We offer approval and funding in minutes or days, not weeks or months

Because we know Small Businesses are unique, we offer five (5) different funding options. SparkBusinessLoan’s network of funding partners offer a variety of products for small businesses, including Business Term Loans, Revenue-Based Financing, Merchant Cash Advances, Start-Up Capital and Business Lines of Credit.

SparkBusinessLoan does not access your credit report when you apply. However, the funding partner selected for you will need to check your personal credit report to accurately finalize the loan option suited for you.

None. It is free to apply, and you're under no obligation to accept any loan option presented to you.

All we need is some very basic information about you and your business. SparkBusinessLoan’s application process will only ask we need to know to qualify your business as quickly as possible. One of our funding partners will then contact you for more information if you’re fit for the right loan product.

In most cases, our funding partners can review your application in just a few hours. Once all your information has been received and verified, pre-qualification can be completed in as little as 24 hours. Some of our funding partners can begin the funding process within as 24 hours. With the business line of credit, approval can be done in minutes after linking to one of your business's online services.

Once SparkBusinessLoan matches you with a funding partner, the funding partner you have worked with directly through the approval process and funded your loan is the party you will be paying directly. Our finding partner will set up a repayment plan that works and makes sense for you.

Repayment Terms per funding product:

• Business Term Loans and Revenue-Based Financing are repaid via ACH transfers, with a fixed amount paid each weekday during a predetermined repayment term. Repayment terms typically run from 4 to 24 months. With Revenue-Based Financing, the daily payment amount may be adjusted during the repayment term depending on revenue received by your business.
• Line of Credit - do not have early payment fees, however, you do assess fees once you draw on the line of credit. Once funds are withdrawn from the line of credit, a 6 months repayment term is created. Fees can range from 1% - 15% of the selected loan amount for the first 2 months and then 1% for the remaining 4 months of the 6 months repayment term. There are no repayment penalties for paying off the line of credit prior to the 6 months terms. Like most line of credits, the sooner you pay, the less fees in financing you pay and the more money you save.
• A Merchant Cash Advance is repaid directly from your merchant account. A fixed percentage (not fixed amount) is taken daily from your credit/debit card sales. Because the amount repaid adjusts with your daily sales, a Merchant Cash Advance does not have a fixed repayment term since your dailys sales may fluctuate.

Disclaimer: Because we are not a lender ourselves, the exact terms of your loan (including interest rates, repayment periods and monthly payment information) will be presented to you by your funding partner. Each funding partner uses their own policies to determine their terms, which often depend on your personal and business information, daily/monthly revenue, credit history and the state that you reside in.

Each funding partner has their own process for renewing your business loan/advance. Most partners automatically renew your Business Loan/Advance on a monthly basis if your account is in good standing. If immediate access to funds is needed, a manual review of your account can be obtained.

SparkBusinessLoan utilizes industry standard security protocol and enhanced 256-bit data encryption technology to ensure that your information is 100% safe and secure while using our service.