While these loans are quick and easy to obtain, they are not for everyone. This type of financing can be quite expensive, especially if your business is relativly new. Only borrow if have a clear plan to implement funds that you believe can take your business to the next level. Avoid this type of short-term financing if you would be using it to pay off long-term debt or if you do not have a clear use for it.
The maximum loan amount is $1,000,000. However, any amount above $105,000 will require recent Business Tax Return, Balance Sheet, and Profit & Loss statements.
You can expect offers near the amount of average monthly deposits to you business account. For example: if you average $50,000 in gross deposits for the past three months, you might expect to see offers of around $50,000 and below.