Fora Financial

• Application and Eligibility
• Small Business Options 
• New Businesses Welcome
• Customer Service

Application and Eligibility 

Fora Financial has an easy application process with minimal entry requirements. The company boasts a free non-committal quote and an application that can be completed in minutes. Additionally, the application process only requires a few bank statements, in comparison to extensive paperwork banks and some business loan companies make you turn in.

Fora Financial also offers a convenient funding calculator where a user can input their monthly revenue, years in business, and average ledger to see eligible funding. 

Basic eligibility requirements include the following:

• At least six months in business
• $12,000 in gross sales for a short-term loan
• $5,000 in credit card sales for a merchant cash advance
• No open bankruptcies 

Small Business Options 

Fora Financial offers short-term loan term plans ranging from 4 to 15 months. 

Working capital loans are in amounts from $5,000 to $500,000 and there are no restrictions in regards to how to use your loan. Some common uses include the following: 

• Pay taxes
• Purchase inventory
• Upgrade equipment
• Hire staff
• Advertise
• Expand operations
• Finance payroll 
• Renovate workspace 

Fora Financial also offers a merchant cash advance. A merchant cash advance requires no collateral, has no set terms, and offers early payoff discounts. The company can approve merchant cash advances up to $500,000 in as little as 72 hours from approval, so the funding is extremely fast. 

New Businesses Welcome

With Fora Financial, a company only has to have been in business for six months in order to be eligible for funding. 

Customer Service

Fora Financial puts a lot of emphasis on transparency and customer service. It's easy to get ahold of a representative, and borrowers don't have to sit through a long list of options read by an automated machine in order to get through. Fora Financial reviews speak highly of the company's customer service. 

• Undisclosed Interest Rates
• Monthly Revenue Required
• No Long-Term Loan

Undisclosed Interest Rates

Fora Financial does not provide a calculator or chart for business owners to estimate interest rates on its website. Potential borrowers are encouraged to reach out to the company for more information on interest rates.

Monthly Revenue Required Amount

Fora Financial has a higher-than-average required monthly revenue amount for businesses. Businesses must be generating at least $12,000 per month in gross sales or $5,000 per month in credit card sales in order to qualify for a loan.

No Long-Term Loan

The lengthiest loan term Fora Financial offers is 18 months. This is quite restrictive in the industry, as some other lenders offer loan terms up to 36 months.

Additionally, Fora Financial does not offer a line of credit or SBA loan options.