Term length varies based on product and qualifications such as credit and time in business. The average term is 8-18 months. Term loans can go out 5 years, and high risk funding can be as short as 3 months.
FAQ
How long are the terms?
Are these daily payments?
Payment structure, just like term length is based on qualifications such as credit, time in business, and product. Consolidation products are always a monthly payment, term loans are always a monthly payment, and bridge funding is weekly or daily. We always work to get you a weekly payment over a daily payment. Your funding advisor will discuss this topic in depth during your consultation.
Do these build credit?
Some products do build and report to your business credit. None of these report on your personal credit. Business credit is critical in obtaining traditional financing, so this is a great added benefit. Your funding advisor will clarify if your approval option reports to business credit or not.
Do you make a hard inquiry?
No, to see your options, there are no hard inquiries. A few certain products and scenarios require one, but we are very upfront if this will occur. We do not run credit and pepper you with inquiries like many out there. If a funding selection is received and completed, this typically comes with a hard inquiry at the end.
Are you a lender?
No, and unlike most, we are very upfront about it. Our funding advisors and the founder are extremely knowledgable on what your best opportunity will be. The funding field is a maze, and loaded with land mines, which is why its critical to have a highly professional advisor to help you navigate the space. Doing this on your own can be a costly mistake in numerous ways.
How are you paid?
When funding is successfully completed, Ballpoint Capital receives a commission from the funding source. This amount is the same, or less than when you are direct with the source. We do not charge a fee of any type unlike many that sneak in junk fees on your funding deals.
What is the rate?
This has a very large range, based on several factors including credit, time in business, industry, and funding product. Term loans range from 8-15% APR, lines of credit from 9-20% simple, and bridge funding from 15 cents to 40 cents per dollar fixed with prepayment discounts. Your funding advisor will ballpark you upfront an accurate range, there will be no surprises. Alternative finance is not bank financing, and the ease and speed of the process comes with a cost.
What states can be funded?
We can work in all 50 states, however a few products, such as merchant cash advance consolidation, is limited to certain areas.
How quickly will I be funded?
This depends on the product, and your willingness to provide items in a timely manner. Most funding can be done in a day or two, with term loan products taking around 15 days.
How do I know you are who you say you are?
A quick google search handles this. We have no negative comments and are a legally registered business. Check out our TrustPilot reviews to get an idea about how people feel about us. We let that do the talking in tandem with the lack of negative remarks about Ballpoint Capital.