Business Lending Support Documents

Business Lending Solutions From First Look Approval

First Look Approval has multiple solutions when it comes to business lending. We've developed a direct partnership with one of the industry leaders in small business micro loans (On Deck Capital), and have additionally partnered with a number of other lenders to offer more solutions to more businesses. You can learn some high-level specifics about what we offer for B2B lending HERE.

Below on this page, you'll find material for our small business micro loan solution through On Deck Capital. This product is the most straight forward product available and will be the most common solution in most cases. Please review the material below if you plan on actively selling B2B Loans.

**PLEASE NOTE - If you simply want to refer us warm leads to close, you are welcome to do so. We pay our agents FULL COMMISSION for simply referring us deals. To refer us a warm lead, simply send an email with basic information about the business and opportunity to [email protected]. We will then contact the lead and close the deal from there, bcc'ing you on all correspondence. As always, you are paid 50% of the total commission amount First Look Approval receives for each funding. Doesn't get any better than that!**

Basic Overview Of On Deck Capital Business Loans

Loan Types & Terms

Standard Loans: Up to $150,000 with 6-12 month terms. $100,000 max with terms longer than 12 months (15 & 18 month terms)
"Bank Only" Loans: $5,000 - $100,000, 6-12 month terms.
On Deck Express: $5,000 - $35,000, 6 month loan term.

**The underwriting team looks at each deal and decides which loan product is best.**

Required Docs Needed For Each Deal

Each deal should be initially submitted with the following documentation:

Completed 1-Page Application (below)
3-Month Bank Statements
3-Month Merchant Processing Statements

**If business is seasonal or has cash flow issues, please be prepared to gather 12 months of bank statements.**

Minimum Merchant Qualifications

As a rule of thumb, keep the following minimum criteria in mind when prescreening:

Time In Business: +1 Year
Annual Revenue: + $100,000
Average Bank Balance: +$3,000
Minimum Credit Score: 500

**These are the minimum requirements, review the document titled "Our Strikezone" to see what deal types to focus on**

Industries To Target

Industries To Target Include:

Restaurants
Automotive Repair, Parts, Accessories
Doctors + Dentists
Veterinary
Plumbing, HVAC Contractors
Hair Salons and Spas / Nail Salons
Furniture / Home Furnishings
Jewelry Stores
General Retail

**For a complete list of our best industries, read the document titled "Top Industries." **

Industries To Avoid

Industries To Avoid Include:

Home Building and Construction
Financial Service Companies
Power Equipment
Real Estate Brokers
Management Companies
Mortgage Lenders
Payroll Companies
Gun Sales
Funeral Service

**For a complete list of restricted industries, read the document titled "Restricted Industry List." **

Documents Needed To Fund Loan

After we receive an initial approval, there are a number of documents needed to fund the loan. First Look Approval corporate will facilitate this process and will collect the following documents: