FastPay Small Business Loans Review
ConsumersAdvocate.org Rating: 9.4 / 10 (Excellent)
FastPay provides financing solutions to U.S.-based digital media businesses . FastPay offers companies engaged in digital advertising, apps, websites, games, creative projects or campaigns quick access to a credit line of up to $100,000 which grows with their business.
Features and Services
FastPay is directly integrated with leading accounting software, bank account monitoring, and several media revenue dashboards. It gathers information such as invoices uploaded from your accounting software, for example, to determine your eligibility for funding.
How it Works
Send funding request via submitted invoices or dashboard.
This is used to determine the amount of funds to be released.
Receive 70% of funding request within 48 hours
Businesses with a $10,000 loan for example receive $7,000 or 70% of the funds requested.
Loan terms and fees
Loan terms are from 30 to 120 days. A 3% monthly fee is charged against the gross value of the loan or $10,000. The 3% monthly fee is prorated starting on day 31.
1 Subject to applicable law .
Get paid by clients
FastPay collects the funded amount or 70% ($7,000) plus interest fees depending on the length of payment.
Applying for funding is quick and simple. An online application form is available and businesses need only provide business info and their financial and bank account credentials. Because FastPay is directly integrated with leading accounting software (Sage, QuickBooks, Microsoft Dynamics, Banking (Chase, Bank of America), and Dashboards (facebook, OpenX), the process is even faster.
Upon approval, businesses only need to upload any invoices for verification. Loan amounts are based on the amount of receivables or invoices. Businesses can even link their media dashboards such as Google, AOL, AppNexus, etc.). An opening credit of $5,000 to $100,000 is available for new clients.
Small Business Loans at FastPay
With FastPay, companies can now quickly turn invoices and future payments into readily available funds. Rather than waiting for months, businesses can use invoices to fund business expansion, pay bills or any expense. With easy requirements and an application form that can be filled out in minutes, businesses can quickly take advantage of FastPay’s funding solutions.