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Frequently Asked Questions

  • How does a The Belmont Franklin Group Loan work?  You must complete a 5-10 minute online questionnaire to determine your business's eligibility or by calling a Business Funding Expert at 281-453-1556. Once the questionnaire is complete, estimated loan terms can be customized by adjusting the loan amount and duration to compare the costs of financing.  Once you select your desired terms and complete the application, if approved, you will be prompted to electronically sign a contract that will be emailed to you and includes bank instructions so that payments can be debited weekly from your business checking account.

  • If approved, how can I get the funds?  If approved, the loan is transferred directly into your business's bank account. Funding can be as fast as the next business day if documents are in and the loan is approved by 2 p.m. CT, Monday through Friday (excluding bank holidays).

  • Is my business eligible for a The Belmont Franklin Group Loan?  The online questionnaire or a Business Funding Expert at 281-453-1556 can help determine your business's eligibility for TheBelmontFG Loan. Minimally, a business must have been in business for at least 3-6 months, generate at least $5000 in monthly revenue, not have any active bankruptcies, and be located within the 50 United States + DC. The business owner applying for the loan must have a FICO score of at least 550. Additionally, some industries are ineligible for the TheBelmontFG Loan.

  • Will exploring The Belmont Franklin Group Loan impact my credit score?  Completing the questionnaire will assess your eligibility, allow you to review estimated offers if eligible, and will not impact your credit score. Should you decide to complete the loan application process, credit checks and other public records checks will be performed which may impact your credit score.

  • How much can I apply for?  Loan amounts range from $5,000 to $500,000, depending on your business's eligibility. A Business Funding Expert can assess your business's eligibility within minutes, and if eligible, review with you your estimated loan terms, and work with you to help you build the right loan for your unique business and situation.  Generally, you will be approved for 90% of your monthly gross revenue.

  • How does The Belmont Franklin Group determine my business's eligibility and loan offer? Your eligibility and loan offer are based on an overall assessment of your business's health. TheBelmontFG evaluates the credit history of the business owner and the business to determine approvability, the loan amount, and pricing.

  • Are there any industries that are ineligible for The Belmont Franklin Group Loan?  To be eligible for The Belmont Franklin Group Loan, your business cannot be in any of these industries:

 

  • Collection agencies

  • Credit bureaus

  • Financial services

  • Gambling and related businesses

  • Grant making foundations

  • Holding companies and management companies (without subsidiaries included)

  • Human rights organizations

  • Independent artists, writers and performers

  • Labor and political organizations

  • Voluntary health organizations

  • Can I pay off The Belmont Franklin Group Loan early?  The loan can be paid off at any time, but the full fee based on the original term of the loan is applied and is due at the time of the payoff.  There are times we offer a 10% payoff early discount.  When you are ready to payoff early, just call accounting and let 

  • How long can I take to repay The Belmont Franklin Group Loan?  Loan durations range from 13 to 52 weeks, depending on loan amount.

  • How do I repay The Belmont Franklin Group Loan? TheBelmontFG Loan has daily, weekly and monthly payments that are withdrawn from your business's bank account automatically. You provide account information and select your preferred payment day when you sign the contract. Automatic repayment will occur and you will not be able to adjust how often you pay.   TheBelmontFG loan is available to renew once your are 50% paid in!  We can offer additional funding EVERY 30 DAYS as long as you do not take any other funding outside of Belmont!

  • Does The Belmont Franklin Group Loan require a personal guarantee? Yes, a personal guarantee is required, but you will find that many business loans also require a personal guarantee.

  • Do I need perfect credit to qualify for a Belmont Loan?  No, all that is required is a business checking account to receive the funds and deduct payments.

  • Is my personal information secure? We take privacy seriously and use 128-bit protection and strict levels of security to keep your information confidential.

 

  

 

Our Experts Are Here Whenever You Need Them

The Belmont Franklin Group works with small to medium business owners getting to know your business while you build a business loan that meets your unique needs and goals.​

For additional questions that may not have been covered, please call us today at 281-453-1556!