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Notification 6

  • Michael Killian uploaded new sub Misty Shorts

    10 min ago

  • Misty Shorts was funded by Ebf for $50k

    10 min ago

  • Nataliya Baltsevych requested conctarcs for Misty Shorts

    10 min ago

  • Nataliya Baltsevych was funded by (ABC Financial Group) for $50k

    10 min ago

  • Nataliya Baltsevych uploaded new sub Alan Barton

    10 min ago

  • Alan Barton was funded by (Mountain Capital) for $50k

    10 min ago

  • Michael Killian uploaded new sub Misty Shorts

    10 min ago

  • Misty Shorts was funded by Ebf for $50k

    10 min ago

  • Nataliya Baltsevych requested conctarcs for Misty Shorts

    10 min ago

  • Nataliya Baltsevych was funded by (ABC Financial Group) for $50k

    10 min ago

  • Nataliya Baltsevych uploaded new sub Alan Barton

    10 min ago

  • Alan Barton was funded by (Mountain Capital) for $50k

    10 min ago
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Important stip notes
  • New deals greater than $150k and renewal deals greater than 3250K require additional documents, including the most recent business tax return, most recent or YTD profit and loss as well as the balance sheet.
  • Low risk construction new and renewal deals follaw the normal additional financials guidelines: High risk construction new and renewal deals greater than $75K may require additional documents, including the most recent business tax return, most recent or YTD profit and loss as well as the balance sheet, We also require the past 12 months of bank statements.
  • Trucking or freight new and renewal deals greater than $75K require additional documents, including the most recent business tax return, most recent or YTD profit and loss as well as the balance sheet. We also require the past 6 months of bank statements.
  • Businesses with significant seasonal variances iin their monthly sales should provide the 12 months of bank/processing statements to allow for accurate quoting and a smooth underwriting process.
  • For loans and MCAs, up to 65% of proceeds may be used to pay off outstanding competitor balances (must net 35% of approved amount).
  • No more than two competitor payoffs are allowed for new deals (only one allowed for renewals). Please note that Rapid has a different policy for paying off small LOCs, and in some cases existing LOCs may not require a payort.
  • No more than two competitor payoffs are allowed for new deals (only one allowed for renewals). Please note that Rapid has a different policy for paying off small LOCs, and in some cases existing LOCs may not require a payort.
  • lf we are funding a new line of credit, applicants can have up to twe competitor Loan MCA positions (unless exempted from payoff for our Loans and MCA products) that can be left in place. If the applicant has three or more competitor Loan/MCA positions, they would not be eligible for a line of credit. We will not use line of credit draw proceeds to pay off open competitor Loan/MCA position(s) in order to become eligible.
  • Please reach out to your BD Relationship Manager with any questions.
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