What is same day funding?
Same Day Funding is as simple as it sounds. It allows you to receive funds in your account as early as the day you finalize your financing with Fund My Biz. There's no special enrollment and no additional requirements.
What other small business funding options can I explore in addition to a term funding?
Every business is unique, with distinct financial requirements. That's why at Fund My Biz, we offer a diverse range of funding solutions tailored to your needs. Alongside your existing term funding, you can apply for a small business line of credit. In many instances, you can even initiate both simultaneously
How do loyalty benefits work?
We believe in rewarding you for your loyalty and making it easy to access additional funding. Once your initial or current funding is 50% paid down you have the option to apply to renew your fund and you will not be charged any remaining interest on your existing fund. You may even qualify for a lower or 0% origination fee.
How does payback work?
Paying back your term financing with Fund My Biz is easy and hassle-free with automatic bank account deductions, so you don't have to worry about missing a payment. The daily or weekly payment is based on the amount and term length of your financing and is intended to be a manageable number based on the information you provided to Fund My Biz in your application.
How much will it cost?
Interest rates start at 2.5% annual percentage rate (APR). The total cost of your short term financing will vary based on a number of factors, including your personal and business credit scores, time in business, and annual revenue and cash flow*.
Can I get a short term funding if I have bad credit?
Fund My Biz doesn’t offer “bad credit funding.” However, a bad credit score doesn’t always mean you can’t qualify for business financing. Our short term funding can provide an alternative source of funding for borrowers who have had difficulty getting approved for credit cards and traditional installment funds.