FAQ

Questions? No Worries.

About Level Up

What is Level Up Funding?

Level Up Funding is a direct lender offering working capital financing up to $500,000 to business owners around the country. We provide short term loans, lines of credit and work with select banks to offer SBA loan programs.

How important is my credit score?

Although our minimum credit requirements are less strict than banks and many other lenders, we look for personal credit scores above 550 for our term loans and closer to 600 for our lines of credit.

How fast can I get funded?

Our decision turnaround time is 24 hours and funding happens within 24 hours from receiving an approval so long as all requested documentation is provided on time.

What are the advantages of working with Level Up Funding?

Our decision turnaround times, speed of funding, simple process, and dedicated team of advisors and US based support staff are among some of the top reasons we have become funding partners for many of our customers.

Term Loan

What is a term loan?

A term loan is a lump sum payment that is deposited into your business bank account immediately and is repaid over a set amount of time with a fixed cost. Our term loans are paid back in daily or weekly installments, and in some cases monthly installments for larger more established businesses.

Is a term loan right for me?

If you come across an opportunity that requires a large sum of money to grow your business but cannot risk using your operating cashflow, then a term loan is a perfect solution. Our loans are ideal for financing new projects, purchasing or repairing expensive equipment, expansion projects, and bridging cashflow to name a few.

How does repayment work?

Depending on your approval you may have the option to choose between a daily mirco payment or weekly payment which will remain constant until the loan is paid off.

What are the advantages of working with Level Up Funding?

Our decision turnaround times, speed of funding, simple process, and dedicated team of advisors and US based support staff are among some of the top reasons we have become funding partners for many of our customers.

What if I need more than 500k?

In the event you require funding over $500k, contact us for a custom quote.

What are the fees?

Our loans work on a fixed simple interest rate so you will know exactly how much you are paying back. Our rates vary from 9% – 38% depending on term length and business credit profile.

What is the origination fee?

The origination fee covers the cost of processing the loan, and is deducted from the total funded amount that your business receives e.g. if you borrow 20,000 with an origination fee of $1,000 then you will receive $19,000.

Is this a true business loan or MCA?

We offer True Business Loan products as well as a Merchant Cash Advances.

Line of Credit

What is a line of credit?

Unlike a term loan, a business line of credit gives you the ability to take as little or as much as you need up to whatever your determined “credit limit” is. Lines of credit work great for managing cash flow, purchasing supplies, increasing inventory or paying for a surprise expense.

What is the interest rate?

Interest rates will range from 3% to 6% per month.

Can my business qualify?

Our business lines of credit are extended to clients with minimum personal credit scores around 600 with businesses that generate at least $50k in revenue and have been operating for at least 6 months.

How fast can I draw funds?

Once you are approved, you will have immediate access to the funds through your customer portal which you can draw on immediately.