Great Product Features, No Hidden Fees, Award Winning Customer Service, and a Committed Long-term Lending Partner
Products with customer-friendly features
like no prepayment penalties, low
upfront fees, and competitive pricing.
Award-winning* customer service featuring a revolutionary online application and dedicated customer relationship management.
Because we use our own capital, our interests are aligned with those of our customers.
* Business News Daily, January 2017, May 2016, October 2015, Best Alternative Lender for Working Capital Loans
Customer-Friendly Product Features, Simple Terms, No Hidden Fees
| TERM LOANS | LINES OF CREDIT | |
|---|---|---|
| Use of Proceeds | Expansion, equipment and capital improve- ments | Working capital and short-term cash flow management |
| Amount | Up to $500,000 | Up to $150,000 |
| Repayment Term | Up to 4 years | New balance after each draw is amortized in equal installments over 18 months |
| Payment Frequency | Twice per month | Once per month |
| Cost | • Our rates are risk-based, meaning that we determine an interest rate according to our estimated likelihood of repayment |
|
| Prepayment Fees | No prepayment penalties — simply pay the outstanding balance plus accrued interest if you prepay your loan or line of credit |
|
| Collateral | • No specific collateral required • Personal guarantee • UCC-1 on business assets (a “blanket lien”) for most customers |
|
Understanding How We Determine the Cost of a Loan
We take many factors into account when pricing a business loan or line of credit. There is no simple formula to explain how an interest rate is determined, but you can think of it in the following 4 categories.
BUSINESS STABILITY
Years in Business
Cyclicality
Seasonality
Customer Concentration
CREDIT HISTORY
Personal & Business Obligations
Positive Public Records
Negative Public Records
FINANCIAL METRICS
Revenue
Profitability
Growth
Profit Margins
CASH FLOW & DEBT
Debt to Income
Income to Debt Payments
Amount of Debt
Type of Debt
New York Women Entrepreneurs
Fundation has partnered with the City of New York, Goldman Sachs, and Squarespace to launch WE Fund Credit, a program designed to offer affordable business lines of credit at special interest rates to eligible women entrepreneurs in New York.
Click here to learn more!