Forward Financing is a financial services company based in Boston. It offers project funding and loans to small businesses. The company claims to provide these services on short notice and extends services including merchant cash advances and short-term loans. To be eligible, a prospective borrower needs to have been at least 3 months in business and should have a credit score of 500. Besides, the revenue should be at least $150K/yr. The firm offers amounts of $5K–$300K for 4 to 12 months. They also charge an origination fee of $300–$3,000. They use revenue-based models to decide the customers they would offer help to.
The company charges a flat fee on the borrowed amount. This amount is obtained by multiplying the amount borrowed with a number. If you borrow $10,000, a 1.5 factor rate would mean that you have to pay $15,000 (equal to $10,000 x 1.5). Forward Financing charges one additional fee, which is the upfront processing fee, that changes depending on the amount borrowed. Larger the amount borrowed, larger the upfront processing fee would be. It ranges from $300 at the minimum level, to $3,000 at the maximum. Furthermore, Forward Financing also reserves the right to charge UCC-lien on its customers.