Who Is LenderSaidYes?
We are a team of passionate individuals who understand the struggles and dreams of entrepreneurs, start-ups, and small business owners. We know what it feels like to have a vision but lack the financial resources to bring it to life. That’s why we are dedicated to providing personalized support and access to a large network of lenders across the US.
Our journey is driven by empathy and a deep understanding of the emotional rollercoaster that comes with pursuing your dreams. We have been there – feeling the fear, excitement, uncertainty, and hope all at once. This is why we are committed to being more than just a lending service; we aim to be a source of encouragement and empowerment for those who dare to take the leap into entrepreneurship. Our mission goes beyond loans; it’s about being a partner in our clients’ success stories.
What Funding Does LenderSaidYes Process?
Merchant Cash Advances (MCA)
Provide businesses with quick access to capital by leveraging future credit card sales.
What Type Of Clients Can We Fund & Process?
For all funding products, you must be a US Citizen with a valid Social Security Number.
For startup and personal funding, your clients need an active and eligible personal bank account, proof of income, and qualifying personal credit.
As a business owner seeking funding, your client will need to be a registered business, with a business bank account, eligible revenue, and qualifying personal credit.
Do You Provide EIN or Business Credit Funding?
There is no real loan or advance product that will fund a client based solely on their EIN. This is a common misconception taught and spread around social media.
If your client is wanting to borrow money in a loan, line of credit, or advance, their personal credit score will be reviewed with a soft pull for offers.
When it comes to business credit, we can offer business credit cards to your clients upon request, but this is reserved for clients with credit scores over 700.
What If I Have Bad Credit?
In traditional lending, like that you find at banks and credit unions, historically require good to great credit to qualify for funding. If your client doesn’t have a 680+ credit, along with qualifying revenue, time in business and a few other factors, they will find declines when seeking for funding on their own.
That is where WE come in. We have a bad credit program for businesses making over $20,000 per month in revenue. It’s called an advance, and clients can have scores as low as the 400s. It’s important to know that these offers to come with a more aggressive payment plan, and does not report to personal or business credit bureaus.
What Are The Underwriters Minimum Requirements For Each Funding Program?
The Underwriters Minimum Requirements For Funding Program
Personal Credit Score 480+ Experian
Credit History Bankruptcy OK with some lenders
Time In Business 3-6 Months
Business Revenue $20k+ Monthly
Deposits 5+ Monthly
Bank Account Business Account – NO Online Banks like Chime
The Underwriters Minimum Requirements For Funding Program
Personal Credit Score 650+ Experian
Credit History Clean Business Credit – NO Defaults
Time In Business 12-24 Months
Business Revenue $20k+ Monthly
Deposits 10+ Monthly
Cash Flow $5k+ Average Daily Balance
Bank Account Business Account – NO Online Banks like Chime
The Underwriters Minimum Requirements For Funding Program
Personal Credit Score 600+ Experian
Credit History Clean Business Credit – NO Defaults
Time In Business 12 Months
Business Revenue $20k+ Monthly + $35k+ Net Profit on Taxes
Bank Account Business Account – NO Online Banks like Chime
Equipment New & Used Equipment from US Vendor
The Underwriters Minimum Requirements For Funding Program
Personal Credit Score 650+ Experian
Credit History 3 Years History Minimum, No Charge Offs or Collections, Less Than 4 Inquiries the Last 6 Months, No Late Payments Last 10 Months, Bankruptcy Over 4 Years Old
Credit Mix 3-5 Reporting Lines, No Subprime
Personal Income $50,000 Adjusted Gross Income
Bank Account Physical Location – NO online options like Chime
The Underwriters Minimum Requirements For Funding Program
Personal Credit Score 650+ Experian
Credit History 3 Years History Minimum, No Charge Offs or Collections, Less Than 4 Inquiries the Last 6 Months, No Late Payments Last 10 Months, Bankruptcy Over 4 Years Old
Credit Mix 3-5 Reporting Lines, No Subprime
Personal Income $50,000 Adjusted Gross Income
Bank Account Physical Location – NO online options like Chime
The Underwriters Minimum Requirements For Funding Program
Personal Credit Score 650+ Experian
Credit History 3 Years History Minimum, No Charge Offs or Collections, Less Than 4 Inquiries the Last 6 Months, No Late Payments Last 10 Months, Bankruptcy Over 4 Years Old
Credit Mix 3-5 Reporting Lines, No Subprime
Personal Income $50,000 Adjusted Gross Income
Bank Account Physical Location – NO online options like Chime
The Underwriters Minimum Requirements For Funding Program
Personal Credit Score 680+ Experian
Credit History 3 Years History Minimum, No Charge Offs or Collections, Less Than 4 Inquiries the Last 6 Months, No Late Payments Last 10 Months
Credit Mix 3-5 Reporting Lines, No Subprime
Utilization Under 45% on Each Open Line
What Are The 18 Most Common Reasons For Declines?
How can I get started and how long does process takes?
Our intake process is seamless. When you complete the online intake form, you will get an email from one of the processors.
The processor will send you the different funding options and next steps, which include applications and document requests. Once you complete this step, you will be assigned a funding expert.
The funding expert works directly with our lenders to get you offers. Once the funding expert feels there is a good selection of offers, they will reach out to you and present the offers. After you select the offer(s) you want, the funding expert works with the lender and you to close the deal and get the funds into your bank account.
What other service do you all offer?
We do offer payment processing services for all kinds of businesses. Accepting credit cards for your products and services is very important in this digital age, so we have payment solutions for all industries. You may be looking to save on your existing processing fees or update your current payment system. We do have payment experts who will discuss your needs and current setup, and you will receive pricing & equipment analysis.
We offer the following payment solutions:
- online gateways
- mobile
- invoicing
- e-commerce
- high risk
- high-ticket
- startup
- POS System Needs