Frequently Asked Questions
Find answers to the questions we get asked most
Small Business Loans
How long does it take to get approval for business financing?
Here at Funding American Dreams LLC, we have a reputation for speedily dispensing cash to our deserving clients.
Typically, we process all fund applications from our clients within a reasonable time frame. ‘Next-Day’ fund approval is the norm around here.
How much business cash can I obtain?
We understand that the business world has little or no tolerance for cookie cutter approaches. That’s why we collaborate with lots of financial partners for the purpose of crafting financing options that are uniquely suitable for a client’s needs.
Before we extend a financing option to a client at Funding American Dreams LLC, a call is usually placed to us at 866-890-7017.
During this phone conversation, we mainly examine the potential client’s needs and financial history so that, together with the potential client, a financial plan suitable to the potential client’s needs will be selected.
Does it cost anything to apply or get approved for financing?
At Funding American Dreams LLC, we take delight in our “zero application and approval costs for small businesses” policy.
Will I qualify?
Compared to traditional banks, who have an approval rate of 30% when small business loans are concerned, we have a small business loan approval rate of over 70%.
Chances are you’ll likely qualify for our small business loan if you meet these conditions; owned your business for at least one year (some exceptions apply to businesses that are at least 7-10 months old), grossed at least $100,000 a year (or $10,000 a month) and no open bankruptcies
Merchant Cash Advance
Will my credit history be reviewed?
A review of your credit history is a mandatory part of the qualification process but there’s no cause for alarm.
While traditional small business loans from banks obsess about your credit history, we generally don’t indulge in such obsession when approving funding for a business.
The only time a business owners’ credit history carries substantial weight in our business dealings is when any of our Premium Program is up for consideration.
How much does it cost to get a merchant cash advance?
Funding American Dreams remains committed to providing affordable access to capital for businesses that need it for expansion and innovations.
As a result, there are no compounding fees, hidden fees or accruing interest.
We keep things simple.
To arrive at a specific, fixed cost for getting access to our Merchant Cash Advance, you and Funding American Dreams will jointly consider the realities of your business condition and needs.
Give us a call at 866-890-7017 so that we can be sure we have your full approval and confirmation on a specific price before signatures are appended to the relevant documents.
When would I not qualify?
Here at Funding American Dreams LLC, our commitment to the financial wellbeing of businesses is top priority.
We demonstrate this commitment by making funding for growth and innovation available for businesses.
However, we can’t remain faithful to our business commitments if we don’t maintain a fair and pragmatic code of operations.
There are instances where a business won’t qualify for our funding. This is either because the business isn’t 7 months old yet or the business has an open bankruptcy.
A negative landlord reference can also stand in the way of accessing our funding.
It’s important to note that a positive landlord reference with an outstanding rent burden won’t disqualify an applicant from our funding.
One other thing that can disqualify a candidate from getting access to our funding is debts arising from a judgment and/or lien without a definite payment plan.
A negative landlord reference can also stand in the way of accessing our funding.
It’s important to note that a positive landlord reference with an outstanding rent burden won’t disqualify an applicant from our funding.
One other thing that can disqualify a candidate from getting access to our funding is debts arising from a judgment and/or lien without a definite payment plan.
Equipment Funding
I'm looking to lease equipment. What types can I lease?
With access to Funding American Dreams financial options, your business can lease used or brand new equipment it needs to grow.
- This includes:
- New or used equipment
- Software
- Computers
- Work vehicles
- Office furniture
- Fixtures
- POS system
- Note: A financing option from Funding American Dreams cannot be utilized for purchasing a disposable or consumable item and neither can it be resold.
How long does it take to get equipment financing?
Frankly, even with the speed and simplicity of our application process, underwriting equipment financing can take up to a month.
A month is the standard lease time and it’s reasonable that you expect the standard turnaround time.
Ordinarily, it takes 3 to 5 business days after signing the lease papers for funds to be disbursed to you.
Are there penalties for paying off a lease early?
You won’t encounter such penalties at Funding American Dreams LLC.
You are free to pay off your lease at any time during the life of your lease.
How much does it cost to get an equipment lease?
Each equipment lease is unique to a business and its realities.
Here are some of the factors that affect the pricing of an equipped lease; the type of equipment to be leased and credit rating.
Even if you don’t have the best credit history, it’s not panic time yet as credit history is not the main factor at play.
If you have any follow-up questions, your personal funding specialist is in a position to give clarifications and custom options suitable to your condition.
You can call us now at 866-890-7017 for more insights.
How will an equipment lease affect my personal credit?
An equipment lease facilitated by Funding American Dreams will not affect your personal credit.
As opposed to what applies under a traditional bank loan, leasing help received from Funding American Dreams will not reflect on your personal credit.
