Frequently asked questions
If you have a query regarding a loan then we are here to your help you can arise your query also.
Bad credit isn’t usually a deal breaker. Your financing options are based on business cash flow. If your business receives over $5,000 in gross deposits, we encourage you to apply.
There are no restrictions on the usage of your funds. Once you’ve received funding, you can use it to grow your business as you see fit.
There are no penalties for early payment. In some cases, we offer discounts for paying your loan off early.
We can typically finance anywhere from 100% to 200% of your average monthly gross deposits.
The first step to receiving funding is filling out our online application. Once filled out, we’ll get in touch with you to discuss your financing options. Depending on your business needs, you may be eligible to receive funding with the documentation provided in your application. In the case a financing option requires additional documentation, we’ll let you know. Once you’re approved, you can expect financing in as little as 24-48 hours.
Once your application and bank statements are submitted, it only takes 4-10 hours to receive a decision from underwriting. If you accept the offer, we can have the funds in your account in as little as 24 hours.
Once approved, you’ll receive funding in a few hours. Normally, we can fund within 24 hours of receiving the application and banking statements.
Yes, we can consolidate existing loans into one note. We can also fund advances while keeping existing ones without paying them off. There are options.
SpringFi empowers small businesses with access to the financing they need to grow and prosper. Take your next step toward realizing your business dreams. Contact us online to learn more about our same-day business loans or call 347-778-5195 to speak with one of our dedicated funding experts.