Product
Business Loans, Financial Services, Business Financing Service, Small Business Loans
CORPORATE FINANCE
ABOUT THE PRODUCT
Simply Approved Business Loans is a nationwide funding partner helping small and mid-sized businesses across the United States and Canada access the capital they need to grow. We offer a full range of financing — working capital loans, merchant cash advances, business term loans, equipment financing, invoice financing, and SBA loan options — from $5,000 up to $5,000,000. Our streamlined process delivers same-day decisions and funding in as little as 24 hours for approved files, with no upfront fees to apply. Whether you need to cover payroll, buy inventory, purchase equipment, fund marketing, or expand, our advisors help you compare options and find the right fit. Apply free online in minutes.
FREQUENTLY ASKED QUESTIONS
Participating funding providers in our network typically require at least $35,000 in monthly business deposits for most working capital products, with lower thresholds (around $15,000/mo) available for some MCA programs. Final requirements vary by lender and product.
Most products require at least 6 months in business. Term loans typically require 12+ months. SBA loans require 2+ years in business. Startup financing options are available for newer businesses with strong personal credit.
Revenue-based products approve down to 500 FICO. Term loans typically require 600+, and SBA loans require 650+. Participating funding providers underwrite the whole file, not just the score.
No. We require a registered business entity (LLC, Corp, or partnership) with a business bank account at a bank or credit union. Personal bank statements and sole-proprietor accounts cannot be used.
No. Funding requires statements from a business checking account at a bank or credit union. Statements from fintech platforms like Cash App, Square, Stripe, Shopify, or PayPal cannot be used to underwrite.
Yes. Open or recent bankruptcies disqualify an application. Past defaults resolved more than 2 years ago can be considered with a paid-in-full or zero-balance letter from the prior lender.
Most working capital and merchant cash advance approvals fund within 24 hours of a clean file. Term loans fund in 2 to 7 days. SBA loans take 30 to 60 days.
Pre-qualification typically does not require a hard credit pull. The exact inquiry type depends on the lender and product, and any hard inquiry is disclosed before you sign. Applying with us is free and creates no obligation.
These answers were provided directly by Simply Approved Business Loans, LLC. Last updated 1 week ago
IMAGES
Information is owner-confirmed
Last updated 1 week ago
United States (US)
Canada