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For over a decade, Advance Funds Network has helped thousands of businesses across North America get funds to purchase equipment, expand operations, scale advertising, and perform other business-related tasks.
It has an A+ rating from the Better Business Bureau and over 1,000 positive customer reviews on Trustpilot. Applying online is easy and fast, and businesses can access solutions like working capital loans, lines of credit, and business term loans.
It’s a great choice for small and large companies alike, as you can borrow from $25,000 up to $2.5 million. Advance Funds Network offers same-day funding and doesn’t charge any upfront or hidden fees for its services.
Advance Funds Network is a good choice for your business if you have subpar credit, as it accepts anyone with a credit score over 500. While some partners on the platform may not work with those who have poor credit, several others will.
It’s great for newer businesses too, as you only need to be in business for twelve months to work with the company. However, it’s still a solid option for established or very successful companies, as it offers loans of over $2.5 million.
It’s also a good option if you want to compare offers from several lenders or take advantage of different lending solutions.
One standout feature is that the company provides a variety of funding options from numerous lenders. This includes business term loans, lines of credit, equipment financing, and working capital loans programs.
Advance Funds Network offers a quick application and same-day funding and has no hidden or upfront fees. The low credit score requirement makes it suitable for any kind of company, as does the fact that you can borrow both small and large amounts.
Advance Funds Network provides a streamlined online application. To get started, go to the website and navigate to the “Get Prequalified Now” section. Next, enter how much you want to borrow, what it’s for, and how long you’ll need the funds.
After you click “Get Qualified,” the form asks about your credit score and for some brief information about your business, such as your location, length of time in business, and annual revenue. Press “Get Qualified” again, and provide your name, email address, company name, and phone number. Then, click “Get Your Offers” to complete the prequalification form.
If your prequalification is successful, you’re taken to the full application. It’ll also show you how much you’re prequalified for. Most information you’ve already provided is filled in automatically, but you’ll need to offer additional details like your business address and website, industry type, and company federal tax ID.
Once everything is completed, click “Next Step.” The following page lets you enter how much you want to borrow, what it’s for, your gross monthly sales, and your desired term length. After that, you provide the business owners’ personal information and read through the terms and conditions. The company may also request documentation to prove your claims.
This application only takes a few minutes and is much easier than traditional loan applications. Funding is also fast and you can often get same-day funding in a few hours.
You can borrow up to $2.5 million with Advance Funds Network, but the exact amount depends on your credit and monthly revenue. The higher your monthly sales, the more you can borrow.
Advance Funds Network has a tool that lets you estimate what you can borrow based on your credit score and sales numbers. For example, the tool says someone with excellent credit and $750,000 in monthly sales could qualify for around $1.3 million, while someone with fair credit and $75,000 in monthly sales only qualifies for around $100,000.
If you want to borrow the maximum of $2.5 million, you’ll need excellent credit and have monthly sales of around $2 million.
Keep in mind that all of these results are purely illustrative, and exact loan amounts and terms depend on your financial situation.
Also, to borrow anything at all, you have to ensure your business qualifies. To qualify, you need:
However, keep in mind that every lender has its own eligibility requirements, so exact qualifications vary depending on the type of funding you need and the company you end up working with.
The repayment terms like loan length and interest rate vary depending on which partner you work with. Most lenders offer terms that range from three months to over two years. Your interest rate can vary widely depending on things like your credit score, how successful your business is, and your other debts. As a result, the company doesn’t publish information about interest rates on its site.
Advance Funds Network uses Secure Sockets Layer (SSL) encryption to ensure the connection between your computer and the company is private. It has a comprehensive privacy policy that details what type of information is collected and how, what it’s used for, how it’s shared, and how it’s stored.
The policy also states the company has physical, technical, and organizational measures in place to protect your personal details and information from unauthorized access. It also continually changes or adapts these measures in response to new threats and potential dangers.
Advance Funds Network offers customer support over the phone at 866-480-2611 and via email at sales@afnllc.com. There’s a live chat option on the site, but it doesn’t let you speak with a human.
Thankfully, the website has multiple FAQs and a comprehensive blog that covers topics like growing your business, industry trends, obtaining the proper financing, and dozens more. There are also plenty of details about the many lending options it offers, including how they work and what to expect from them.
The company gets great reviews and ratings, maintaining an A+ rating with the Better Business Bureau. Advance Funds Network also has a 4.9 rating on Trustpilot, with positive reviews highlighting the exceptional service, straightforward application, and overall convenience of the process. On the other hand, the few negative reviews it has mention frequent and annoying sales calls.
464 Kings Highway, 2nd Floor
Brooklyn, NY 11223-1804
Advance Funds Network is a platform that helps you find the right business funding for your needs. It provides several options for new and established businesses and has no upfront fees or hidden charges. The company is clear about how to qualify, and you can borrow both large and small amounts.
It’s available across the USA and Canada, plus it only takes a few minutes to apply. While there’s no live chat with a human on the website, there are several ways to reach out to customer support, and the website is full of helpful blogs and FAQs.
This review was created using information from the Advance Funds Network website, as well as its Trustpilot and Better Business Bureau pages to look at customer reviews.
