Frequently Asked Questions
What loan size does EZ Bank Loan handle?
We handle all commercial loan sizes from $5,000 for small merchant cash advances, to well over $20,000,000 for middle-market financing facilities.
What types of businesses and industries does EZ Bank Loan work with?
We work with every and all types of industries. Small, medium and large businesses work with EZ Bank Loan to handle their financing needs.
Who are EZ Bank Loan's lenders?
We are really geared toward underutilized small business financing programs like SBA financing. The plurality of our 3,000 lenders are small banks and community banks. With that having been said, we have plenty of lenders that handle any and all types of alternative financing.
What States and regions do EZ Bank Loan's lenders work in?
EZ Bank Loan has lenders that work in all 50 States of the US.
Do your lenders offer startup financing?
The only start-up financing we handle are SBA 7(a) financing, equipment financing, and loans against ones stocks (commonly-used to fund franchise businesses).
What is the usual time frame to receive funding?
The time period for funding depends on the type of loan the business is seeking. For SBA and traditional financing, the time frame can be between 30-90 days. For alternative financing about 5-10 days. Merchant cash advances take 1-2 days.
What are your fees?
We charge you nothing out-of-pocket for SBA. Most of the time we get paid a success fee from the lenders. In some situations relating to traditional financing where the lender does not offer a referral fee, we charge between some facility amount, and it would only be due at funding.
Do your guarantee success?
No. We are not a lender. But we are confident that EZ Bank Loan is among the most successful financing brokers at finding our clients the best possible financing for their companies.
What credit scores are needed for funding?
Generally, to qualify for bank and SBA financing, a business owner needs to have a credit score over 650. For other forms of alternative financing, credit score requirements can range from 500-650. But with increased lender risk, the higher the borrowing rates.
I have bad credit. Can I still get funding?
Bad credit does not necessarily disqualify you from receiving funding for your business. After looking at bank statements and other required documentation we are better able to evaluate the health of the business and determine whether or not your business qualifies for funding.
I want to start a business, can you get me funding?
At this time, we do not provide funding to start a business. To receive funding from EZ Bank Loan, your Federal Tax ID must be active for at least 3 months and your business must be generating an average of $10k in gross monthly sales. At this point, EZ Bank Loan can work with you to get your business the funding it needs to grow.
Can I use this funding to build my credit?
That depends on the type of product you ultimately qualify for. Some of our products are perfect for building and improving your credit, while others don’t impact your credit at all. Your funding specialist will be able to guide you to the best option should you wish to build or improve your credit.
What about if I’m buying an existing business?
Unless the business has been in your name for at least 3 months and bank statements can show an average of $10,000 in monthly sales we are unable to pre-qualify you for financing at this time.
How do I know that my loan application information is secure?
EZ Bank Loan is committed to providing you with a secure online experience that protects your confidential information. EZ Bank Loan utilizes bank-level security standards to protect your data. This includes encryption, auditing, logging, backups, and safeguarding data.
How can working with EZ Bank Loan be more beneficial for my business than working with a bank?
Small businesses sometimes have funding needs that are below the minimum that banks are able to provide. EZ Bank Loan offers financing options ranging from $3,000 up to $1,000,000. Funding through a bank can take weeks or even months and require collateral. We are able to offer financing products that can get you funded in as little as 24 hours and most options do not require collateral. Our pre-qualification process takes into consideration more than just your credit score. Even if your credit is less than perfect, EZ Bank Loan will work to get your business the funding it needs as quickly as possible.
Once I am approved for financing how can I access my funds?
The funds are deposited directly into your business’s bank account via ACH (direct deposit). If you have any questions about this process, please contact us.