FREQUENTLY ASKED QUESTIONS (FAQ)
Application
What information do I need to apply?
Typically, we only require basic information about yourself and your business. We may ask for:
– Business Tax ID.
– Last three months of business bank statements.
– Social Security number of business owner(s).
What industries do you work with?
We work with more than 700 different kinds of businesses including restaurants, auto repair shops, healthcare professionals, contractors and many other service providers.
Is there any obligation if I apply?
No. If you apply for funding from OnDeck, there is no obligation to accept the loan offer. Your loan offer is valid for 30 days, at which time it expires.
Funding
How does term loan funding work?
We fund term loans through the Automated Clearinghouse (ACH) system. If you’re approved, the funds will be deposited into your business bank as soon as the same day.
Can I get more funds after my first loan?
Many United Capital Term Loan customers renew their loan. When you renew, all remaining interest on the original term loan is waived and you’re issued a new loan. You may also qualify for a lower origination fee — as low as 0%
Are payments fixed or variable?
Payments for Our term loan are fixed, so you’ll pay the same amount from the beginning to the end of your repayment term. This allows you to manage your cash flow with no surprises or large costs up front.
Can I get a loan if I have a bad credit?
We can sure find a program that is not credit based and use one that is revenue based it is still possible yet is gonna be a riskier file and therefore more expensive.
Apply now for financing options
Ready to find the best financing options for your business? Fill out this quick and simple application form with some basic information about your business and our team will get back to you shortly. We’re here to guide you every step of the way.