Question 1

What is Fine Point Lending?

Accepted Answer

We are a business lending marketplace that connects small business owners with a network of trusted lenders. We simplify the funding process by matching you with the best loan products for your unique needs.

Question 2

Are you a direct lender?

Accepted Answer

No, we are not a bank or direct lender. We work as your advocate, leveraging our network of lending partners to find you competitive rates and terms.

Question 3

How does your service work?

Accepted Answer

You fill out one simple application with us. We use that information to match you with multiple lenders who compete for your business. You compare offers, choose the best one, and get funded.

Question 4

Do you charge a fee for your service?

Accepted Answer

No, our service is free for business owners. We receive a commission from the lending partner when a loan is funded.

Question 5

What types of loans do you offer?

Accepted Answer

Our network offers SBA 7(a) and 504 loans, Business Lines of Credit, Working Capital Loans, Merchant Cash Advances, and Term Loans.

Question 6

Which loan is best for me?

Accepted Answer

It depends on your business goals. For long-term investments, SBA loans are great. For cash flow, consider a Line of Credit or Working Capital. Our specialists can help guide you.

Question 7

What is an SBA loan?

Accepted Answer

An SBA loan is a small business loan partially guaranteed by the U.S. Small Business Administration, which allows lenders to offer better terms and lower down payments.

Question 8

What is the difference between a term loan and a line of credit?

Accepted Answer

A term loan provides a lump sum that you repay over a set schedule. A line of credit gives you access to funds you can draw from as needed, paying interest only on what you use.

Question 9

What are the minimum requirements to qualify?

Accepted Answer

Requirements vary by product, but generally, you need at least 6 months in business, a minimum credit score of 500+, and at least $50,000 in annual revenue.

Question 10

Can I get a loan with bad credit?

Accepted Answer

Yes, we have partners who specialize in bad credit business loans. Products like Merchant Cash Advances focus more on your daily revenue than your credit score.

Question 11

Do I need collateral?

Accepted Answer

Not always. Many of our short-term products (like Working Capital or MCAs) are unsecured. Larger loans, like SBA loans, typically require collateral.

Question 12

Can startups get funding?

Accepted Answer

Most of our lenders require at least 6 months of revenue history. We currently do not offer funding for pre-revenue startups.

Question 13

How long does it take to apply?

Accepted Answer

Our initial online application takes less than 5 minutes to complete.

Question 14

Will applying affect my credit score?

Accepted Answer

No, our initial application uses a soft credit pull, which does not impact your credit score.

Question 15

When should I expect quotes?

Accepted Answer

After you submit a completed application, quotes are expected within 24–72 hours. This is an expected timeline, not a guarantee; provider review, approval, requested documentation, and bank processing can affect timing.

Question 16

How fast can I get funded?

Accepted Answer

After you accept an offer, funding is expected the same day or within 24 hours. SBA funding may take up to 60 days. These are expected timelines, not guarantees, and depend on provider approval, completed documentation, and bank processing.

Question 17

What documents do I need?

Accepted Answer

Documentation varies by provider and product. Fast-funding options may request recent business bank statements, while SBA applications generally require more extensive financial documentation. Providing complete documents can help keep the review moving, but timing is not guaranteed.

Question 18

What are your interest rates?

Accepted Answer

Rates vary widely based on the product, your creditworthiness, and the lender. SBA rates are typically Prime + 2.25% to 4.75%, while short-term products may use factor rates instead of APR.

Question 19

Are there prepayment penalties?

Accepted Answer

This depends on the lender and the specific loan product. Some term loans have penalties, while lines of credit usually do not. We will clearly outline any fees before you sign.

Question 20

What is a factor rate?

Accepted Answer

Used in short-term financing, a factor rate is expressed as a decimal (e.g., 1.2). If you borrow $10,000 at a 1.2 factor rate, you repay $12,000. It is not an annualized percentage rate (APR).

Question 21

How are payments made?

Accepted Answer

Payments can be monthly, weekly, or daily depending on the loan. Short-term loans often require automatic daily or weekly ACH deductions from your business bank account.

Frequently Asked Questions

About Fine Point Lending

Loan Products

Eligibility

The Process

Costs & Terms

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