UNSECURED BUSINESS LOANS
Unsecured Business Funding (UBF), is a loan offered with no assets backing it, usually based on the borrower’s business and credit profile. This program is a great option for many business types including contractors.
Fast Funding: Get approved in as quickly as 1-2 business days and funded the next day!
UBF LENDING PARAMETERS
Applications
- Completed Application (Request from FOND FINANCE staff)
- 6 Months Banking
- MTD not required for submission
- Minimum Annual Revenue: $500K
- Minimum Credit Score: 600
- Otherwise requirements at underwriter discretion
Prior to Funding $100K – $200K
- 2019 Business Tax Returns
- Other requirements
Prior to Funding $200K+
- 2018 and 2019 Business Tax Returns
- 2020 Financials may be requested (case by case)
- Other requirements at underwriter discretion
Preferred Industries
*No tax return required up to 150k in funding for the following industries:
- HVAC
- Restaurants (applies to businesses not heavily impacted by COVID)
- Pharmacies
- Gas Stations
- Grocery Stores
- Liquor Stores
*At underwriter’s discretion
ELIGIBLE INDUSTRIES
- Accountants
- Auto Repair (Mechanical Only)
- Daycares
- Dentists and other Non-Emergency
- Detailing/Car Wash
- Doctors & other essential healthcare providers –Labs, Researchers, Veterinarians, Emergency Medical Transportation, Medical Billing, Medical Equipment
- Drive-in Movies
- Drive-thru/Takeout Restaurants
- Engineering
- Exterminators
- Funeral Homes
- Gas Stations
- General Construction (Special Requirements)
- Grocery Stores
- Hair Salons
- Hardware Stores
- Home Fitness Sellers
- Home Healthcare Services
- Janitorial Services
- Laundromats & Dry-Cleaners
- Liquor Stores & Convenience Stores
- Meal Prep Delivery
- Medical Services (Physical Therapists, Occupational Therapists, Optometrist, Orthodontists etc.)
- Newspapers
- Nonperishable Food Wholesalers
- Online Retail Stores
- Pharmacies
- Plant Nurseries
- Radio Stations
- Specialty Contractors*
- Towing
- Trash Collection
- All other industries unaffected during COVID-19 (that are not on the prohibited industry list)
Requirements: 20+ deposits or average deposits of $7,500 or less
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