Short-Term Loan by The Business Backer

Short-Term Loan by The Business Backer

The Business Backer connects businesses with the financial sources they need, from traditional bank loans to alternative financing and other lines of credit. The Business Backer has reinvented the business lending system through their consultative process and honest appraisal of all the financial options available to a business. This unique approach, combined with a team of expert advisors, has allowed them to service thousands of customers across the United States.

7/10

Cost
70% Complete
Low High
Effort to Apply
40% Complete
Easy Difficult
Funding Speed
20% Complete
Minutes Months
Repayment Terms
60% Complete
Months Years

Bottom Line

If you can make daily or weekly payments, this can be a great option considering the rates, lack of fees, and the funding amounts.

Pros

Can provide fast funding for a reasonable rate. No origination fee.

Cons

Higher annual revenue requirement than similar offers. Potentially daily repayment terms.

Cost
1.09 - 1.45 Factor Rate
Repayment Terms
Daily or weekly payments for 4 - 18 months
Funding Amount
$5,000 to $200,000
Repayment Example
$10,000 (loaned amount) x 1.45 (factor rate) = $14,500 (total payback amount)
Origination Fee
None
Funding Speed
2 - 3 days
Application Fee
None
Revenue
At least $250,000 in revenue
Time in Business
At least 1 year in business

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