No you don’t! One of our loan advisors would be happy to assist with your application and even get it submitted for you.

No, this is a business loan that will have no impact on your personal credit score.

Some of our lenders report payments to business credit bureaus and a good payment history will have a positive impact on your business credit score.

Guarantor credit is checked and is a factor in underwriting.

Unfortunately we are not currently accepting applications from outside brokers.

We are always evaluating new lenders. To be considered, you can contact us at partners@clearinc.com.

Your data is as secure as it possibly can be. Clear is built on a technology stack that uses a 256-bit Advanced Encryption Standard cipher mode, storing private keys and encrypted backup data on separate servers. Also, we use an advanced authentication system, CSRF tokens, protection against cross site scripting, sql injection protection, DOS protection, container-based infrastructure and server role-based access. Finally, our automated site monitoring runs over a million checks a day to proactively monitor network, server, and application resources.

You can access our privacy policy HERE.

Our lending partners compensate us when loans successfully close.

No, we have no affiliation with the SBA.

Maybe. It really depends on the individual lender and product type.

If it has been discharged, we should have options for you.

It really depends on the lender – most do require some form of guarantee.

Unfortunately we do not.

Unfortunately not.

We have no restricted industries and have secured loans for all industry types.

Yes, as long as you’ve been in business for at least 6 months and have at least $15,000 in monthly revenue.

Yes you can! In fact, we often see our clients receive funding within 1 day.

A short term loan is one of easiest products to get approved for.

There is typically a prepayment discount offered, which may or may not be the same as having no prepayment penalty.

It depends on the lender but most do charge an origination fee.

Assuming a good payment history, you’ll be offered the opportunity to renew the loan halfway through term. Typically, we see the lender offer better terms on a renewal.

Yes you can.

Payments are normally made either weekly or monthly, via automated ACH withdrawal.

There is no collateral required.

A merchant cash advance is not a loan – it is a discounted sale of future revenue.

The factor rate is equivalent to the cost of money. For example – if you were to receive $20,000 at a factor rate of 1.15, you would be paying back $23,000 and your cost of money would be $3,000.

Yes you can! In fact, we often see our clients receive funding within 1 day.

A merchant cash advance is very easy to get approved for.

Because a merchant cash advance is not a loan, a prepayment penalty would not be applicable. However, there is typically a prepayment discount offered.

This depends on the individual funder but most do charge an origination fee.

Assuming a good payment history, you’ll be offered the opportunity to renew the financing halfway through term. And typically, we see the funder offer better terms on a renewal.

Yes you can.

Payments are typically made either daily (Monday-Friday), weekly or semi-monthly via automated ACH withdrawal. Or payments could be made as a fixed percentage of your credit card receipts.

There is no collateral required.

The funding companies are generally willing to work with you. Also, the payment amount is normally pegged to a certain percentage of your gross sales. So if your sales were to decrease, you normally have the right to lower your payment amount to re-align with your lower sales.

Yes you can! In fact, we often see our clients receive funding within 1 day.

A line of credit is easier to get approved for than a bank loan, more more difficult than other short term products.

There is typically no prepayment penalty.

The lender usually charges a draw fee each time a draw is taken. And there could also be monthly or annual service fees charged.

As payments are made and the credit line is paid down, it opens access to additional credit.

Most line of credit lenders utilize software that constantly monitors your cash flow. And each lender typically reserves the right to modify the credit line based on changes in cash flow.

Payments are typically made either weekly or monthly, via automated ACH withdrawal.

Collateral is typically not required for a line of credit.

This is a bank loan with a typical bank process. It requires collateral, involves a lot of documentation and the business, guarantors and use of funds are all underwritten.

Interest rate can be either fixed or variable.

While not as difficult as an SBA loan, we consider this a fairly difficult loan to get approved for.

There typically is no prepayment penalty.

The lender typically charges an origination fee.

Payments are made monthly.

Real estate is preferred although, in some cases, other assets such as inventory and equipment can be used.

This is a bank loan with an additional SBA review. It requires collateral and is multi-stage approval process. It also involves a lot of documentation and the business, guarantors and use of funds are all underwritten.

The interest rate on an SBA loan is typically pegged to the Prime interest rate. Prime + 2.5% is a very common SBA loan interest rate.

No. An SBA loan is underwritten and issued by banks and approved non-bank lenders. It’s called an SBA loan because the SBA guarantees a large portion of the loan.

The interest rate is typically variable and adjusts quarterly.

We consider an SBA loan to be very difficult to get approved for.

There is typically no prepayment penalty.

The lender will likely charge an origination fee and the SBA’s guarantee fee.

Payments are made monthly.

Real estate is typically required as collateral for an SBA loan.

A very wide range of equipment can be financed including commercial vehicles, agricultural products, hardware, software, medical equipment, heavy machinery, restaurant equipment, office furniture, construction equipment and more.

Funds are sent directly to the vendor.

A down payment is often, but not always, required.

The interest rate is normally fixed.

Since the loan is fully-collateralized, it is relatively easy to get approved.

There is typically no prepayment penalty on a loan. Prepayment would not apply to a lease.

The lender may charge additional fees.

Payments are typically made monthly, often via automated ACH withdrawals.

The equipment being financed would serve as collateral.

The factor rate, also called the discount rate, is the cost of money, similar to an interest rate. For example, a monthly factor rate of 1% is the equivalent of a 1% simple interest rate – Your monthly cost of money would be $1 for every $100 advanced.

An invoice factoring approval typically has two components – A maximum credit limit is the total value of all invoices you can finance. A maximum advance is the total value of any 1 invoice you can finance.

This varies by lender but is generally limited to between 90-120 days.

Typically, you will be responsible for reimbursing the lender the value of the invoice financed.

It’s not that difficult to get approved. However, keep in kind that approval is a 2 step process. Your business needs to be approved and each customer also need to be approved.

The lender could charge additional fees including origination fees, service fees, collection fees etc.

No payments are made. The finance charge is simply deducted from the invoice when it’s paid.

The invoices factored would serve as collateral.

A wide range of assets can be used as collateral, including inventory, equipment, accounts receivable, machinery, real estate etc.

The interest rate, in most cases, is fixed. A variable interest rate is much less common.

The underwriting for an asset-based loan can be very extensive with a long review and approval process. We consider this loan to be “relatively difficult” to get approved for.

There is typically no prepayment penalty.

The lender will likely charge additional fees in the form of closing costs, due diligence fees and/or an origination fee.

Payments are made monthly, like most traditional loans.

This is a bank loan with a bank process. The underwriting is extensive and additional requirements like an appraisal and market analysis generally make a long process longer.

The interest rate can be fixed or variable.

We consider this loan one that is difficult to get approved for.

There typically is not a prepayment penalty.

The lender will likely charge additional fees in the form of closing costs, due diligence fees and/or an origination fee.

Payments are made monthly, like most traditional loans.

The real estate the loan is being used for would serve as collateral.