Do I qualify?
You pre-qualify for a loan from ForwardLine if:
- You have owned your business for at least 11 months
- You have at least $3,000 in monthly Visa/MasterCard sales
What if I don’t qualify?
You may still have options through ForwardLine. We partner with a network of lenders who specialize in various types of loans. If we can’t help you, we may have a partner who can.
How do I apply?
Click here to fill out our 3-minute application or call 1-866-623-4900.
How much am I eligible to borrow?
The amount you can borrow will depend on a number of factors including your Visa/MasterCard sales volume, your type of business, and how long you’ve been in business. Once we receive your initial loan application we will give you a full quote taking these factors into account. The maximum we typically can lend is about 1.5 x your monthly Visa/MasterCard sales average.
What is the length of the loan?
The length of the loan can vary from 6 to 12 months.
Is there an application fee?
No. The application is quick, easy, and absolutely free.
How does the application work?
Pre-qualified applicants can get approved in as little as 48 hours.
To get started, simply fill out the simple 3-minute application or call us at 1-866-623-4900 and fax in your last 6 months of merchant account statements to 1-866-623-4910.
Once we receive your merchant account statements, we’ll give you a full loan quote and a quote for your merchant account rates.
How does the loan work?
ForwardLine sets up your merchant account and thoroughly tests it to make sure it’s working properly. Then we fund the loan on the same day via ACH to your specified bank account.
How does the payback work?
When you batch your Visa/MasterCard sales, ForwardLine is paid a percentage based on the loan agreement. You never write a check or deal with late fees.
Do I need to transfer my merchant account?
Yes. We use a nationally recognized merchant services provider that supports all major POS terminal brands. We will help you through the simple process of transferring your merchant account and we will typically be able to meet or beat your existing processing rates.
How is my merchant account transferred?
Our ForwardLine merchant services team will prepare all the paperwork and guide you through this simple process. It usually takes just a few minutes.
What is the percentage of Visa/MasterCard sales that are held back?
The percentage is determined by your monthly Visa/MasterCard volume, how much you borrow, how long your payback period is, and your interest cost. We’ll give you the projected hold back percentage during the initial call. We’ll also give you a full quote in writing prior to signing your loan documents to make sure you understand exactly what percentage is held back.
Do you have an in-house merchant services team?
Yes. Every member of the ForwardLine merchant services team has at least 5 years of industry experience. And when you fund your loan with us, you get a dedicated service member for the life of your account.
How long will it take to get me approved?
Approval typically takes about 2 business days.
How long will it take to fund my loan?
Funding can happen in as little as 7 business days.
How can I speed up the loan process?
There are a few things you can do to move the process along faster:
- Fax your last 6 months of merchant account statements to 866-623-4910 immediately after applying
- Return your signed documentation the day you receive it
What interest rate do you charge?
You must fill out an application with ForwardLine (either online or over the phone) to get an interest quote. The interest cost depends on your industry, time in business, the percentage of your monthly Visa/MasterCard volume borrowed, and how long your payback period is.
How much does my personal credit matter?
We’ll review each credit profile individually before making any decisions. We’re not FICO score driven but we will review your personal credit to evaluate your credit history.
How is the loan repaid?
The loan is repaid when you batch your Visa/MasterCard sales. There are no checks to send or due dates to remember.
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