Overview

Having distributed $3 billion in funds to support over 35,000 businesses, Fora Financial has an impressive track record. With a range of funding options, they focus on providing quick and efficient solutions to their clients. With Fora Financial, applicants can experience speedy turnarounds, often being approved and funded within 24 to 48 hours.

With flexible funding, business owners can spend the funds as they see fit, empowering them to make decisions that best suit their growth. What sets Fora Financial apart is its commitment to personalized service. Clients are assisted by Capital Specialists who develop relationships and assist them with making business-oriented choices.

Features

Business loans from Fora Financial offer a variety of appealing terms, including:

Flexible funding amounts

With Fora Financials lending programs, businesses can access funds ranging from $5,000 to $1.5 million for working capital needs. By offering such a wide range of finance options, businesses of all sizes are able to find the right solution for their financial needs.

Minimal credit checks

As a convenience to borrowers, Fora Financial offers a borrower-friendly credit check process. They initiate a single soft credit inquiry during the initial application, reducing the impact on your credit score. An extensive credit check is only performed once the application is approved.

Prepayment discounts

Fora Financial offers an attractive incentive for responsible borrowers. After paying at least 60% of the original loan amount, borrowers have the opportunity to increase their borrowing limits. This feature rewards businesses that manage their financial obligations diligently and provides room for financial growth as the loan is progressively repaid.

Flexible use of funds

One of the standout features of Fora Financial's lending programs is the freedom to use funds as businesses see fit. Whether it's covering operating expenses, expansion, inventory purchases, or any other business-related need, Fora Financial provides ultimate flexibility.

Application Process

Fora Financial makes it easy for businesses to get business loans by following three simple steps.

Step 1: Apply

Begin by completing the straightforward online application on Fora Financial's website. This initial step requires basic information, such as your personal details and annual revenue. At this point, your credit score will not be affected. Shortly after submitting your application, a dedicated Capital Specialist will promptly contact you to discuss your funding needs. By doing this, your loan application will be tailored to your needs.

Step 2: Get a decision

Fora Financial aims to provide applicants with a funding recommendation in good time. Typically, this decision is made within four to 24 hours.

Step 3: Receive your funds

After approval, Fora Financial distributes the loan amount as a lump-sum payout. This funding transfer is typically completed within 24 to 72 hours, allowing businesses to access the capital they need promptly. Importantly, once you receive the funds, you have the flexibility to allocate them according to your specific business requirements.

Repayment Terms

Fora Financial offers a range of loan types tailored to accommodate varying business needs, with repayment terms for each.

A short-term loan is intended for businesses looking for a quick financial boost. Typically, short-term loans last for 12 months or less, providing quick access to capital.

A medium-term loan is available for businesses that need a longer repayment schedule, ranging from 12 months to 36 months. With this option, borrowers have a bit more time to manage their loan obligations.

A long-term loan is used by businesses with a longer financial horizon. Repayment periods range from 3 years to 25 years, providing ample flexibility for long-term growth initiatives.

Typically, repayment for Fora Financial loans begins one month following the loan initiation. For the duration of the loan term, borrowers are expected to make consistent monthly payments. Variable interest rates may influence these payments. Prepayment fees are not charged for any application if the loan is cleared sooner.

Customer Support

Fora Financial offers exceptional customer support, as evidenced by its A+ rating with the Better Business Bureau. Customers seeking assistance can easily reach out to the customer care team through email and phone. Whether you have inquiries or need support throughout your loan application, their responsive and dedicated customer support team is readily available to help.