FMS Advance is a financial service company that lends money to small businesses. It is based in New York City. The major services it provides are SBA loans, reverse consolidation, and credit repair. The credit management service from this company is generally sought out by business owners who seek to improve their personal credit score. Trustpilot has ranked it 320 out of 343 non-bank finance companies listed on its site and assigned it a TrustScore of 6.5 out of 10.
SBA loans offered by FMS Advance can be used to purchase equipment, add marketing programs, increasing inventory, refinancing debt and adding marketing programs. The funds it provides as SBA loans range from $30,000 to $350,000, for which interest rates land from 7.25% to 8.25%. US-based business owners with 650 and above as credit score, and who have completed more than 2 years in business, can avail FMS Advance’s SBA services. The reverse consolidation program from this company can be used when a business is hard-pressed to make daily payments such as on MCA. In this, a cash amount equivalent to the current advance payment would be drafted daily.