1-855-680-FICO (3426) funding@newbusinessfunders.com

Frequently asked questions

How Much Funding is Available?

We help you arrange funding from $10,000 to $500,000.

What Is the Minimum FICO Score to Qualify?

680 FICO score is the very minimum and you’ll also need a one year credit history as well, to get approved.

How long does it take to get approved?

We will have an answer within 24 hours after receiving your credit report. If we receive it in the morning you may get an answer the same day.

How Soon Can I Receive My funding?

In as little as 10 days after we receive your completed application. We are as serious about your funding and we move very quickly. The clock starts ticking at moment we receive your application.

How Do You Determine How Much Funding I Can Get?

Based upon a number of factors including:

  • FICO Score. 680 or higher to get started.
  • Positive Existing Credit Lines- Existing Visa, Master Card, Am Ex or Discover Cards, Mortgage or Car payments, all current.
  • Aging – Meaning how long have you had these accounts.
  • Credit Limit & Usage Ratio – If you have a 10,000 limit on your Visa Card and you owe $5,000-then you are at 50% ratio on your usage against your $10,000 limit. Note: The ideal usage ratio is 30% of your credit limits.
  • Recent Accounts – How many recent accounts you’ve opened in the past 12 months.
  • Inquiries – How many new credit inquiries you have in the past 6-12 months.
What do I need to Get Started?

To start you will send your Fico report from Credit Karma (www.CreditKarma.com) or your log in details to:funding@newbusinessfunders.com to see how much you are approved for by our lenders.

What Happens after I send my Credit Report?

After we get you your FICO report, we will send you a pre-approval letter with a single page application for New Business Funders. Fill this out as soon as possible & send it back to: funding@newbusinessfunders.com.

What happens after I send the Application to New Business Funders?

You will receive an introductory welcome email from our underwriter to schedule a call. This call will go over details of our program, so you will know exactly what to expect to happen and when it will happen.

What Happens After The Call with The Underwriter?

Within a day or two you will get daily updates with a list of the financial institutions that we are applying to on your behalf, a list of pending, approved, and denied applications, if any. Within a few days after the first update all the approved credit lines will be compiled with a final and complete list of each Bank, Credit Union or Community Bank that approved your application. In addition, you will be provided with a list of those credit lines that have Zero Percent Interest. Some will be 6 months; some lines may be 12 months. Depending on your FICO you may go up to 18 months.

What Happens After All My Approvals Are In?

You will receive a thank you email from our underwriter that will outline each and every credit line, the terms and summary and conclusion of the file. The email will include a grid list of all new accounts and a total amount of funding. Our underwriting department will invoice you for the service. You will continue to be served by our team for all your follow up needs.

What Happens After I Receive My Thank You Letter & Summary of Approvals?

You will receive your Credit Lines and Cards in the mail from the various financing entities within a few days, usually 5-7 days.

What If I Don’t Get Approved for Funding?

The Good News is that there are still options:

  • First, New Business Funders has an “In house” Credit Restoration team called Up My Fico. Our Up My Fico team knows how to accelerate, restore and build your credit for higher dollar amounts and higher credit limits on your new business lines of credit.
  • Second, if you want to get approved immediately, you can get a credit partner and then potentially share part of your profits with your credit partner.
  • Third, sometimes our customers aren’t initially approved because they are using too much on their credit cards and, therefore, need to pay them down to an acceptable level. We will provide you a letter that will tell you exactly which card and how much you need to pay down to qualify for the higher amount you are pre-approved.
What products do you offer?

New Business Funders provides a wide variety of funding:

  • Equipment Finance
  • Business Credit Cards
  • Business Credit lines
  • Construction Finance
  • Revenue-Based loans
  • Merchant Cash Advances
  • Express SBA Loans
  • Accounts Receivable Factoring
  • Purchase Order Financing
  • Credit Restoration – 30-Day Guarantee
What are the application costs?

There are zero upfront costs. There are zero application fees. Either we get you funded or we don’t get paid.

14040 N. Cave Creek Rd. Ste 310

Phoenix, AZ, 85022


1-855-680-FICO (3426)