Frequently Asked Questions

  • How do I know if I qualify for a loan?

    Direct Business Lending will always treat you with respect and maintain regular communication with you both by telephone and email. When a loan has been approved, either the lender’s manager or a team member from our lending department will reach out to you to co-ordinate the details.

  • Can you guarantee funding or loans?

    Unfortunately we cannot provide any guarantees or assurances as to how a 3rd party lender will approve or deny a particular application. Our dedicated team will work with our clients to help put them and their file in the best possible position to be appealing for a lender to approve.

  • Does Direct Business Lending work with Startup businesses?

    Startup businesses have traditionally been under serviced by both the banks and other non-bank lenders. Direct Business Lending takes the time to do a free evaluation and analysis of an application with the applicant and pin point exactly the good and bad things of their file. If the file is, in our funding advisor’s opinion, in need of improvements, the funding advisor shall provide a detailed breakdown of what is required to be in a better position to achieve funding. If the file is well positioned, the senior funding advisor will pass the file to a lending manager who will then co-ordinate between the lender and the applicant to achieve funding.

  • How long does the approval process take?

    Every application is unique. We have certain lending partners who can fund in as little as 48 hours to the right applicant and other applicants can take 30-60 days. We have a wide range of lending options for our customers which may work in a tiered approach. For example, if an applicant is seeking $70,000 they may be approved for $40,000 in the short term and the remainder in 2-3 months. Direct Business Lending works to help our clients achieve their short term, intermediate and long term funding requirements.

  • Does Direct Business Lending have an application fee?

    No. Direct Business Lending does not charge any upfront fees for our assessment services. If a client elects to utilize any of Direct Business Lending’s services, there is obviously a cost which will be discussed upfront. Our sales team is both informative and helpful and never aggressive, please don’t hesitate to ask any questions on how we can be of assistance.

  • What are the rates for loans?

    Loan rates fluctuate based on a magnitude of factors such as loan amount, loan term, credit scores, age of business, financials, current market rates etc. In working with our lending managers, they will work to help achieve the best funding solution for your unique situation.

  • My credit scores are low, can I still obtain financing?

    Yes. Certain lenders place greater emphasis on credit scores then others. Having a higher credit score will always open more doors with more lenders allowing for better loan options, but low credit scores are absolutely available. In working with our lending managers, they will work to help achieve the best funding solution for your unique situation.

  • How much can I borrow?

    Our business financing ranges from $1,000 to $1,000,000. In working with our lending manager, they will ask you the amount that is most strategic for your business. When making a decision, lenders will take into account a number of factors and our lending managers will have an honest and open dialogue with you.

  • How Does Direct Business Lending make money?

    We are a business and like all businesses, we need to generate a profit to keep the lights on and pay staff. Although our assessments are free, if a client decides to engage our services, there are obviously fees associated. Clients may pay us for our business services such as business plan writing or website creation. Our lender will quite often pay Direct Business Lending a success fee for all applicants that they successfully fund as well as some of our applicants have success fees that they pay if and when they are successfully funded.

  • How do you decide whether to finance a business?

    Our team takes the time to understand where your business is currently and where you are going. We focus more on the present and future than on the past. We look for creative ways to lessen factors that lenders may see as red flags. Our Funding Advisors take the time to go through an application with a fine tooth comb to locate any red flags and provide recommendations on how to clear these red flags up before proceeding to the lending department.

  • What types of business do you finance?

    We work with a wide range of businesses and industries. Please feel free to discuss your unique business situation with one of our funding advisors.

  • Would you finance a business that is part of a franchise?

    Direct Business Lending has a long history of working with franchise owners. There are a great deal of funding solutions for franchise owners and give the right applicant, our team can assist in obtaining funding.

  • Is collateral required for funding?

    No. Lenders base their decisions on a variety of factors including collateral Vs. no collateral. Obviously if a loan is guaranteed by collateral such as property, the lender carries less risk and will provide better rates and terms. Some lenders require collateral while others simply work with other lending criteria. Certain lenders secure loans and investments with collateral that includes a personal guarantee, a Uniform Commercial Code (UCC) filing on the business’s assets a lien on mortgages or simply based on the businesses or individual’s revenue streams.

Direct Business Lending Services