Question 1

What is a merchant cash advance (MCA)?

Accepted Answer

A merchant cash advance is a lump sum of capital your business receives in exchange for a share of future sales. You repay a fixed amount (the lump sum multiplied by a factor rate, typically 1.15 to 1.50) over a set term, usually 3-18 months, through daily or weekly ACH withdrawals from your business bank account.

Question 2

How long does it take to get funded?

Accepted Answer

MCA and short-term alternative loans: 24-72 hours. Term loans: 3-10 business days. Equipment financing: 3-7 days. SBA 7(a) loans: 45-120 days. Same-day funding is possible on clean MCA files with bank statements ready.

Question 3

What documents do I need to apply?

Accepted Answer

For initial offers: the last 3 months of business bank statements in PDF format. Some lenders may later request tax returns, profit & loss statements, or a voided check. For SBA loans, expect to provide 2-3 years of business tax returns.

Question 4

What is the minimum revenue to qualify?

Accepted Answer

Most lenders in our network require at least $10,000 per month in revenue for alternative products. For term loans and SBA, minimums typically start at $25,000-$30,000 per month. Established 5+ year businesses often qualify for larger loan amounts at better rates.

Question 5

How many lenders will see my application?

Accepted Answer

Your application is matched to the 10-25 lenders in our 100+ network most likely to fund your specific profile. Most applicants receive 3-8 real offers within 24-48 hours.

Question 6

Is FynFund free to use?

Accepted Answer

Yes, completely. FynFund is free for borrowers. We are compensated by our lender partners if and when a loan is successfully originated. There are no application fees, no subscription costs, and no hidden charges.

Question 7

What credit score do I need for a business loan?

Accepted Answer

Most alternative funders in our network accept personal FICO scores as low as 500-550. SBA loans typically require 620+. Best-rate term loans require 680+. For MCAs, business revenue and time in business matter more than personal credit.

Question 8

What is a factor rate?

Accepted Answer

A factor rate is a multiplier used in merchant cash advances to calculate total repayment. A $50,000 advance at a 1.25 factor rate means you repay $62,500. Factor rates typically range from 1.15 (best) to 1.50 (higher risk). Established businesses get better factor rates.

Question 9

Does applying hurt my credit?

Accepted Answer

No. FynFund uses a soft credit pull to match you with lenders. Your personal credit score is not affected. The lender you ultimately choose may do a hard pull at contract stage, but only with your explicit approval.

Question 10

Can my established business get a lower MCA rate?

Accepted Answer

Yes. Businesses with 5+ years of operating history and stable revenue consistently receive factor rates 10-20% lower than newer businesses. Lenders price risk, and established operators are materially lower risk.

Question 11

What is the difference between an MCA and a term loan?

Accepted Answer

MCA: fastest funding (24-72 hours), highest cost (factor rates 1.15-1.50), flexible daily/weekly repayment, no collateral. Term loan: slower funding (3-10 days), lower cost (APRs 9-18%), fixed monthly payments, may require collateral or personal guarantee.

Question 12

Do you fund veteran-owned businesses?

Accepted Answer

Yes. Several lenders in our network offer preferred rates for military veteran-owned businesses. The SBA Veterans Advantage program also waives the upfront guaranty fee on SBA 7(a) loans up to $350,000 for veteran-owned businesses.

Question 13

Can I get a business loan with bad credit?

Accepted Answer

Yes. Many alternative lenders in our network specifically underwrite businesses with FICO scores in the 500-600 range based on revenue strength rather than credit history. MCAs and revenue-based financing are typically the most accessible products for lower-credit applicants.

Question 14

What is SBA 7(a) and should I apply for one?

Accepted Answer

SBA 7(a) is the most common SBA loan program, with amounts up to $5 million and rates of 8-12% APR. It's the cheapest long-term business financing available. Downside: it takes 45-120 days to close. Best for expansion, equipment, working capital, or partner buyouts where speed isn't critical.

Question 15

Can I pay off a merchant cash advance early?

Accepted Answer

Yes. Most MCA funders in our network offer early-payoff discounts. The exact discount varies by funder. We negotiate early-payoff terms upfront if that's important to your cash flow strategy.

Question 16

Does FynFund work with trucking companies?

Accepted Answer

Yes. FynFund specializes in trucking business funding — owner-operators, small fleets, and larger trucking companies. We route trucking deals to industry-specialized funders for better rates and faster approvals.

Question 17

Can I get restaurant financing?

Accepted Answer

Yes. Restaurants, bars, cafes, food trucks, and catering companies routinely qualify. Established 5+ year restaurants get the best rates. Available products include working capital MCAs, equipment financing for kitchen gear, and SBA 7(a) for expansion.

Question 18

Do you offer invoice factoring?

Accepted Answer

Yes. For businesses with B2B invoices (trucking, construction, staffing, manufacturing), invoice factoring converts unpaid invoices to immediate cash at 85-97% advance rates. Funds typically arrive within 24-48 hours of invoice submission.

Question 19

What if I've already taken an MCA?

Accepted Answer

Prior MCAs don't disqualify you. Many funders offer reverse consolidation to pay off existing positions at better rates, or second-position advances alongside your current stack. Disclose any open positions upfront so we match you accurately.

Question 20

How much can my business borrow?

Accepted Answer

Most established 5+ year businesses qualify for $50,000 to $500,000 on their first product. Businesses with $500K+ monthly revenue can access $1M-$2M in MCAs. SBA 7(a) goes up to $5M. The specific amount depends on revenue, product type, and credit profile.

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