Frequently Asked Questions
Find answers to all your Frequently Asked Questions about FundKite’s services, funding process, eligibility, and more. Get the information you need, fast.
One of the most Frequently Asked Questions is about Revenue-Based Financing. In Revenue-Based Financing, FundKite is purchasing your future business receipts (Receivables) at a discount. Revenue-Based Financing agreements are repaid from an agreed percentage of your business receipts (Receivables) – and only from your business Receivables — until the agreed sale price (Amount Sold) is reached. To ensure repayments are only made from your business receipts (Receivables), you have a right of reconciliations to ensure that payments are made only from Receivables and are reflective of your sales.
Frequently Asked Questions About the Application Process
What are the eligibility requirements?
To be eligible for financing from FundKite, your business should meet the following criteria:
- At least six months in operation.
- Minimum monthly revenue of $10,000.
- A business checking account.
Please note, final approval is subject to underwriting.
How will my credit impact my application?
Here at FundKite we don’t let Credit tell the whole story. We want to understand about your business as a whole.
What details are needed to apply?
Generally, we need only basic information about you and your business. This may include:
- FundKite funding application.
- Last 4 Months of your Business Bank Statements.
How does the application process work?
Our application process is straightforward and typically takes about 5 minutes. Fill out one application, and we’ll determine the best product for you. Applications can be submitted online or over the phone by calling (877)502-5003.
Which industries does FundKite serve?
We support over most types of businesses, including restaurants, auto repair shops, healthcare providers, contractors, and many other service industries. Certain Restricted Industries are not served.
Frequently Asked Questions About Funding
Yes! We are a direct funding source.
You’ll never know until you apply. If your business does not qualify, we’ll tell you straight away and let you know how you can improve.
Frequently Asked Questions About Repayment
Repayments to FundKite are automatically deducted from your business bank account, or credit card batches.
There are never any fixed payments to us, we collect an agreed-upon percentage of your sales, as your sales fluctuate so do the payments. We can reconcile payments based on sales daily, weekly, or monthly.
General
Yes, we take protecting your information seriously. Please see our Privacy Policy.
To get started, Apply Here. Then we will request a few documents to demonstrate the performance of your business and your last 4 months of Business Bank Statements. That’s it.
