Question 1

What are the minimum requirements to qualify for a business loan?

Accepted Answer

Generally, we look for businesses that have been operating for at least 6 months with monthly gross revenue of $15,000 or more. However, we have startup business loan programs and specialized financing options for different scenarios, including bad credit business loans.

Question 2

How fast can I get a business loan funded?

Accepted Answer

For products like merchant cash advances and revenue-based financing, business loan funding can happen in as little as 24 hours after approval. Business term loans and SBA loans typically take longer, ranging from a few days to a few weeks.

Question 3

Does Cinch Lending offer commercial loans in Canada?

Accepted Answer

Yes! Cinch Lending is a nationwide commercial loan broker proud to serve businesses throughout all 50 U.S. states and Canada. We have specific lending partners who specialize in the Canadian business financing market.

Question 4

Will applying for a business loan affect my credit score?

Accepted Answer

No. Our initial business loan application uses a soft credit pull, which does not impact your credit score. We only perform a hard pull once you accept a commercial loan offer and proceed to closing.

Question 5

What industries does Cinch Lending provide business financing for?

Accepted Answer

We provide commercial loans and business financing for almost every industry, including construction, retail, restaurants, healthcare, transportation, real estate investors, and even high-risk industries like cannabis (in legal jurisdictions).

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