Frequently Asked Questions

Most applicants complete the online application in under 5 minutes. You'll need basic business details and some financial information — no lengthy paperwork upfront.

For most products, you'll need your 3–4 most recent business bank statements and a completed application. For larger amounts or SBA loans, we may request tax returns, profit & loss statements, or other financial documents. We'll tell you exactly what we need based on your application.

No. Submitting an application triggers only a soft credit pull, which has zero impact on your credit score. A hard inquiry only occurs if you decide to move forward with a specific offer and give explicit authorization.

Most applicants receive a funding decision within a few hours of submitting their application and documents. In many cases, same-day decisions are possible. If you apply after business hours, expect a response the following morning.

Yes. Having existing financing doesn't automatically disqualify you. Many of our products are designed to complement traditional bank financing. However, the specifics depend on your current balances, cash flow, and the product you're applying for.

Absolutely. A dedicated HeyFunder funding advisor is available to walk you through the entire process, answer questions, and help you understand your options. You can request a callback through the site or call us directly — we're here Monday through Friday.

Yes. Many of our funding products are available to business owners with credit scores below 600. Your credit score is one factor among many — we also look at revenue, time in business, cash flow consistency, and industry. A lower score may affect which products you qualify for and the terms, but it rarely means a flat denial.

It depends on the product. Revenue-based financing and working capital products can be available to applicants with scores as low as 500. Lines of credit typically require 600+. SBA loans and HELOCs generally require 650+ and additional qualifications. Your advisor will match you to the right product for your profile.

The main factors are monthly revenue, time in business, credit score, consistency of bank deposits, existing debt load, and industry type. Strong revenue and consistent cash flow can often offset a lower credit score.

Most of our products are unsecured and require no collateral. Equipment financing is secured by the equipment itself. SBA loans and HELOCs involve collateral by nature. For other products, we may request a personal guarantee rather than a specific asset.

A personal guarantee means you, as the business owner, agree to be personally responsible for repayment if the business cannot repay. Most small business funding — ours included — involves some form of personal guarantee. Your advisor can explain exactly what you're agreeing to before you sign anything.

For working capital and revenue-based products, same-day funding is available after approval. Most funded businesses receive money within 24–48 hours of approval. SBA loans take longer due to the government-backed process — typically 30–90 days.

Funds are deposited directly into your business bank account. You can choose a same-day wire transfer (fees may apply) or a standard next-business-day ACH transfer.

It depends on the product. Fixed-term loans have monthly payments over 6–60 months. Revenue-based financing syncs repayment with your daily or weekly sales. Lines of credit are revolving — you draw, repay, and draw again. Your advisor will walk you through the specific terms for your offer.

Business funding from HeyFunder can be used for virtually any legitimate business purpose — payroll, inventory, equipment, marketing, renovations, hiring, debt consolidation, expansion, and more. SBA and HELOC products have specific use-of-funds requirements your advisor will explain.

We believe in full transparency. All fees and terms are clearly disclosed before you sign. Prepayment policies vary by product — some have no penalties, and others offer discounts for early payoff. We'll be upfront about everything before you commit to anything.

Most clients become eligible for renewal once they've paid down 40–50% of their current balance. In some cases, you may qualify sooner. Your funding advisor can check your renewal eligibility at any time.

A term loan gives you a lump sum with fixed monthly payments over a set period — predictable and straightforward. Revenue-based financing ties repayment to a percentage of your daily or weekly revenue, so payments flex with your cash flow. Term loans are better for stable businesses; revenue-based works well for businesses with seasonal or variable income.

A line of credit gives you a set credit limit you can draw from anytime, repay, and draw again — similar to a credit card but for your business. You only pay interest on what you've actually drawn. It's ideal for managing cash flow gaps, covering unexpected expenses, or taking advantage of short-term opportunities.

Equipment financing can cover virtually any business equipment — vehicles, machinery, restaurant appliances, medical devices, tech hardware, construction equipment, and more. Both new and used equipment qualify. The equipment itself serves as collateral, which often means lower rates and longer terms than unsecured products.

SBA 7(a) loans offer the lowest rates and longest terms available for small businesses — but they require strong credit (650+), 2+ years in business, solid financials, and patience. The process takes 30–90 days. If you need funding fast or have challenged credit, a term loan or line of credit may be a better fit while you build toward SBA eligibility.

A business-purpose HELOC lets you borrow against the equity in your home or another property to fund your business. Because it's secured by real estate, rates are typically much lower than unsecured business products. Limits can go up to $2M. It's a powerful tool for business owners with significant home equity who want low-cost capital.

Payments are automatically debited from your business bank account on the schedule specified in your agreement — daily, weekly, or monthly depending on your product. No need to manually track or submit payments.

Yes. You can pay off your balance at any time. Depending on your agreement, early payoff may come with a discount or full interest forgiveness. Review your agreement or ask your advisor for specifics on your early repayment options.

If a payment fails, we'll reach out to resolve it. We understand that business cash flow isn't always predictable. Contact your funding advisor as soon as you anticipate any issues — proactive communication helps us find solutions before problems escalate.

Yes. Monthly repayment schedules are available for qualifying term loan products. Revenue-based products typically use daily or weekly debits that sync with your revenue. Your advisor will walk you through the options based on your offer.

You can contact your HeyFunder advisor at any time to get a current balance, review payment history, or check renewal eligibility. We're available Monday through Friday to answer any account questions.