Revenue-Based Financing Qualification and Application Process
Revenue-Based Financing Qualification and Application Process
The loan qualification process is based on what your revenues are at present, and how fast those are likely to improve. The whole process is fast and easy, plus you can be provided with funds inside 30 days.
Revenue Requirements
You have to be generating between $15,000 and $30,000 in minimum monthly revenue. Your revenues have to be predictable MRRs or subscription-based ones. In addition, the gross profit margin of your business has to be 50% at the very least.
Total Financing Amounts
You can finance anywhere between $50,000 and $3,000,000 by means of a revenue-based business loan. The overall funding amount will usually be a multiple of your monthly business revenue. If you require more than that, then you can generally go back to your revenue-based financing provider for further funding after making payments in a timely fashion for 6 months at the least.
Application Process
You—the business owner—can submit an online application that includes basic personal and business information. The provider will connect to your accounts to check your revenue through bank statements. After everything is confirmed, the loan will proceed to underwrite to find out the loan payment terms and the amount. These precise details will be based upon the information presented in your investor deck or business plan with special attention given to growth potential.
Typical documents which you will have to include with the application are three to twelve months of bank statements, and an investor deck or business plan.
