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FAQS
We try to collect the most commonly asked questions and answer them here. If you have a question thats not listed here.. please contact us by calling (302)-827-7779
Product FAQ's
Prime Equity Funding offers business term loans and lines of credit. There is one application for Prime Equity Funding financing and our
system
will evaluate which best fits
your business’s cash flow and needs.
Our term loans range from $5,000 - $2,000,000 over 1 – 24 month terms.
Our lines of credit go up to $100,000. The lines are revolving so as you pay down your balance, your available funds increase.
Our lines of credit go up to $100,000. The lines are revolving so as you pay down your balance, your available funds increase.
This may be possible, depending on your business credit and annual revenues.
You can contact your dedicated Account Manager or call (302)-827-7779 to speak with someone about eligibility.
Application FAQ's
Prime Equity Funding has a variety of loan options to suit your needs. To qualify for an Prime Equity Funding loan, your business should have
the following
characteristics:
- Minimum 1 year in business
- Minimum of $100,000 in annual revenue
- Minimum 600 FICO score of the business owner
- Have a business checking account
The Prime Equity Funding application process is simple and typically takes about 8 minutes. You can apply
online
or over the phone by calling
(302)-827-7779.
We work with more than 700 different kinds of businesses including restaurants, retailers, auto repair shops, healthcare professionals, HVAC
contractors and many other service providers.
We don't serve these restricted industries.
Your loan rate will be determined by the health of your business and cash flow.
We may charge an origination fee of 0–4% on your loan depending on your circumstances, and if you renew you may be eligible for subsequent
reductions.
For lines of credit, there may be a $20 monthly maintenance fee, depending on the product you get into.
Prime Equity Funding loans are not unsecured. However, we do not require any specific amount, type or value of collateral and no appraisal or
specific assets are required.
The loans are secured by a general lien on the assets of the business and backed by a personal guarantee.
We do not take personal assets of the guarantors as collateral.
Prime Equity Funding can deliver your decision in just a couple of hours. We typically fund loans within 4-6 hours of approval.
There are absolutely no fees when you apply & there will be no fees up until you accept a loan offering.
There is absolutely no obligation to accept a loan offer.
Your loan offer is valid for 20-25 days, at which time it expires.
Funding FAQ's
Prime Equity Funding funds term loans through either through the Automated Clearinghouse (ACH) system or via wire. Which ever the client
requests.
USA
CANADA
AUSTRALIA
Depending on the state where your business is located and other attributes of your business and the loan, your business loan
may be issued by a member of
the Prime Equity Funding family of companies. Your loan agreement will identify the lender prior to your signing.
Loans subject to lender
approval.
Prime Equity Funding® is a Registered Trademark. All rights reserved.