Post Oak Funding
Focus on Growth, But Never Forget Your Roots.

How Can I Qualify for a Business Loan | Business Loan FAQ

Funding Questions

How can I qualify for a loan?

You may qualify for one of our loans if you:

  • Have been in business for more than 6 months
  • Have at least $120,000 in revenue over the last 12 months
  • Have 3 months of business banking statements
  • Have no open bankruptcies

 

How much will Post Oak Funding lend my business?

The exact amount of funding available to your business will depend on a number of factors that can easily be determined. Based on our easy one page application and the current sales volume of your business, you may be eligible for up to $500,000 in a new business loan or working capital.

What is the interest rate?

Our loan options do not have an interest rate. Instead, Post Oak Funding will purchase a set amount of your future receivables at a discount. We advance you a lump sum of capital in exchange for a fixed payment of your daily future sales until you have remitted the total amount of receivables purchased.

What can I use my Post OAk Funding loan for?

You are free to use the funds for anything necessary to run your business. There are no restrictions.

How quickly can I receive my funds?

The approval process is usually completed within 24 hours. Funding can take place as soon as 1 or 2 business days after approval.

How long do I have to pay back my loan?

We’ll work with you to establish comfortable payback terms for your loan. Our average timeframe is 8-10 months. Loans can be extended as far as 20 months for the Working Capital Loans in some cases, and even longer for the Small Business Term Loans

How does repayment work?

Post Oak Funding's underwriter will automatically recovers a daily payment from you. You can forget about sending in checks or missing due dates. And you can avoid having to come up with a large monthly payment. Repayment consists of a small fixed payment.

What sort of collateral does Post OAk Funding require?

Unlike bank lending, our funding does not involve any assets being tied up as traditional security. Your unsecured small business loan or working capital loan will not require any business loan collateral, mortgage or other complicated security agreement.

How good does my credit have to be to get a business loan?

We understand the impact the recent economic climate has had on good, honest businesses and their owners. Small business loans can be especially hard to obtain with bad credit. For this reason, we’re very tolerant of negative credit history. Our aim is to help you grow your business, not punish you for the tough times that you’ve been through.

Can I get a business loan if I’ve previously declared bankruptcy?

Absolutely. As long as your bankruptcy has been legally discharged by the time you apply for funding.

Is there any obligation or cost to apply for a loan?

No, there is no obligation to apply – and no cost whatsoever for the application.

Is Post Oak Funding a direct lender or a broker?

Post Oak Funding is not a direct lender. We only represent transparent, top-rated, and quick-turnaround small business capital providers. Because of this, we are well suited to source the funding that works best for our clients needs. 

Are there any penalties for prepayments?

There are no penalties for prepaying your loan. Prepayment of the loan will never be required, but if you choose to pre-pay, there is no penalty. In fact, you may get a 6% early payment discount on our working capital loans depending on some qualifiers.

 

For more information and FAQ's, contact one of our friendly and knowledgeable financing experts today.