Frequently Asked Questions (FAQs)
Find out what you want to know!
General FAQs
SBA Financing FAQs
Invoice/Accounts Receivable (AR) Factoring FAQs
General FAQs
How does CABizFinancing.com get paid?
CABizFinancing.com does not charge you, the consumer or the business, any fees for its services. Who pays our bills? The Lenders. Of course, you will be responsible for paying the loan processing and closing costs and any other fees to the Lender with whom you close.
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How do you get Lenders to compete for my business?
We work hard to send your loan request to multiple Lenders. There are times, though, that we cannot match your request to four Lenders. However, our Lenders don't know how many Lenders you've been referred to. As a result, they operate under the assumption that other Lenders are reviewing your loan request at the same time they are. In order to get your business, they must make a competitive offer every time - no matter how many Lenders you've been sent to.
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Who are your Lenders?
Our service includes many of the most respected Lenders in the United States. We offer a combination of national Lenders as well as more regional Lenders that are matched geographically to the business in question. One thing all of our Lenders have in common is that they're dedicated to providing the best service and competitive rates.
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What is CABizFinancing.com?
CABizFinancing.com is the leading online business financing services exchange. CABizFinancing.com quickly connects individuals and businesses to an Exchange of Lenders who compete for your business. CABizFinancing.com offers an array of loan types, including Business Acquisition, Commercial Acquisition, A/R Factoring and Equipment Purchase or Lease. We provide a convenient 'one-stop-shop' destination for your Business loan needs by giving you choices, convenience and value while finding the loan that's perfect for you or your business.
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How do I get started?
It's simple. From the home page, select the loan type you want and complete our online loan request form. It takes about 15 minutes to complete the form. If you need help, look for our calculators and tips to help you along the way.
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What information do you collect?
We ask questions about you, the Business involved, the type of Equipment to be financed, and some business financial information. If you have current refinancing we need to know about the terms of your current situation, how much you owe and how much you want to borrow.
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How secure will my information be?
CABizFinancing.com uses the most secure technology available on the Internet to ensure that the data you send us remains absolutely confidential and secure.
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Will you share or sell my information?
At CABizFinancing.com, your personal privacy and the security of your personal data are a primary concern of ours. CABizFinancing.com believes that you should be aware of who we are, the types of information we may collect on our Web site, and what we do with your personal information. Our overall privacy policy is simple. Under no circumstances will CABizFinancing.com sell or share any personal information about you to or with any person or organization except to the Lenders on our Exchange, our authorized agents, or as may be required by law or court order.
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What are your rates?
We get this question a lot. Here's why we don't post our rates:
Because CABizFinancing.com is not a Lender and has no influence in the lending decision, we do not offer or list rates on our site. The rates are different for each Lender participating on our Exchange.
We know that many of you would like us to post our Lenders' rates so that you can quickly compare them to rates offered by other Lenders. CABizFinancing.com is designed to save you from this hassle. Instead of going from Lender to Lender to find the best proposal, all you have to do is enter your information - and we'll try to arrange up to four great proposals to choose from. It's really that simple.
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Can I phone, mail, email or fax in my request?
CABizFinancing.com is committed to sending your information to Lenders quickly and accurately. Using the phone, mail, email or fax would introduce the possibility of transcription errors, unnecessary delays and additional costs - which would reduce the benefits of using CABizFinancing.com! That is why we only accept loan requests through our online forms.
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How many Lenders will bid for my business?
We work hard to send your loan request up to four Lenders on the CABizFinancing.com Exchange. There are times, though, that we cannot match your request to four Lenders. However, our Lenders don't know how many Lenders you've been referred to. As a result, they operate under assumption that three other Lenders are reviewing your loan request at the same time they are. In order to get your business, they must make a competitive offer every time - no matter how many Lenders you've been sent to.
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Does each Lender pull my credit report?
Each Lender has its own policy about pulling your credit report. Some pull your report before they make you a loan offer, others pull your credit report after you have accepted their offer. In all cases, CABizFinancing.com does not pull your credit report when you complete a loan request.
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How will I find out which Lenders are reviewing my loan request?
We'll send you the names of the Lenders who are reviewing your loan request via email.
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Can I negotiate directly with the Lenders?
Absolutely. You are under no obligation to accept the Lenders' first offer. Feel free to deal with the Lender directly to discuss different loan programs.
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Do you have Lenders who deal with less-than-perfect credit?
Yes! We have Lenders who work with borrowers with perfect credit and not-so-perfect credit. Although we can't guarantee that you'll get a loan offer, we will try to match your loan request with Lenders who are most eager to work with you.
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Does having a co-borrower improve my chances of finding a loan?
Including a co-borrower on your loan request may or may not affect your chances of finding a loan. Lenders will consider the credit reports, income, assets, debts and other information about both borrowers. Before you decide whether or not to include a co-borrower on your loan request, consider your combined financial picture.
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What if I don't qualify for a loan?
If we can't find a Lender on our Exchange who meets your needs, we will notify you almost immediately. If we can't match your loan request to a Lender, you may return to the site and complete a new loan request any time you want. (You must wait 72 hours before completing a new form.) We are always adding new Lenders to our Exchange, so please continue to check back.
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How will I find out about my loan offers?
Within one business day, we will contact you to discuss your situation and verify the information. Within 48 hours after that we will notify you via email as to which Lenders are looking at your inquiry. To track the Lenders' responses, go back to our home page at www.CABizFinancing.com and log into the Loan Tracking page. We will keep you updated regularly.
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If I enter my email address incorrectly, how will I find out about my loan offers?
It is critical that you enter your email address correctly when completing a loan request. We use email to communicate with you when Lenders make a decision about your loan request. CABizFinancing.com is not responsible for any errors or delays in responding to a loan request caused by an incorrect email address provided by you or other technical problems beyond reasonable control.
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What if I don't have an email address?
CABizFinancing.com's system is designed to notify you via email that you have received a response from a Lender. If you don't have an email address, you can get one for FREE through web-based services such as Yahoo!, Snap and HotBot.
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I don't know my password. How can I find out what it is?
We'll send you a password when we send you an email notifying you that a Lender has posted a decision.
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How do I compare Financing offers?
It's important that you evaluate all of the terms of each offer before you choose the one that's best for you. Compare the interest rate, APR, points, loan amount, loan term and other details of the loan offer. Please use our online calculators to help you make your decision.
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I've accepted an offer. How do I close the loan?
You will need to communicate with the Lender directly (via mail, email or phone) to complete the loan process. You will need to verify the information you provided through our site through W-2 forms, pay stubs, house appraisals etc. You'll also need to sign the official application forms from the Lender and schedule a closing.
You won't be going through the loan process alone. You will be assigned a personal customer care advocate when you complete your loan request. Feel free to call on them to help you through the process.
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I live outside the United States. Can I use CABizFinancing.com to find a loan?
At this time, we only service requests for loans that originate in the United States.
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How do I check my loan status?
You may check the status of your loan from our home page. From www.CABizFinancing.com click on Loan Tracker. You will be asked to enter your User ID and password.
You may also contact us via the 800 number posted at the website.
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Can you delete my information?
While we can assure you that we will not share the personal information provided by you on your loan request with any third party, we must maintain a record of your inquiry to comply with state and federal record retention laws. This is also consistent with our privacy policy. Should a state or federal regulator request records of consumers who completed loan requests, as a regulated entity, we must comply with that request to produce any such records.
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How can I join the Broker affiliate program?
Call us for more information.
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What are your closing costs?
Each Lender determines their own policy regarding closing costs. Unfortunately, because CABizFinancing.com is not a Lender and is not involved in the lending decision, we are unable to determine the amount of closing costs or out-of-pocket closing expenses. If we are able to match your request with a Lender, you may discuss your specific situation with them once you are in contact.
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How do I cancel my request for a loan?
We are sorry that you do not wish to continue with your loan request. As soon as you submit your request, we try to match it with Lenders on our Exchange. If your loan request has been referred to a Lender, you must contact that Lender directly to cancel your request.
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How can I update my email address?
Please contact our 800 number to correct or update your email address.
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SBA Financing FAQs
Is cash flow or adjusted net income important in getting a loan to buy a business? What about revenue trends in the business?
Yes it is. Our lenders are looking more for a positive cash flow or adjusted net income than they are for equity or collateral in real estate. The business you are buying should have a positive adjusted net income (owner's salary + net income + depreciation + other add-backs that aren't necessarily business expenses). Even if the tax returns are showing a loss - with certain add-backs you can still get a loan with us as long as the adjusted net is positive! Revenue and cash flow trends for the previous 3 years are important. The business must have stable or growing revenues or cash flow to be viable for financing. Call us or email for more information on this.
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What are the lengths of the notes on loans to buy businesses?
It varies usually anywhere from 10 - 25 Years depending if it is a SBA loan or conventional loan. The loans are fully amortized and usually there are no pre-payment penalties for early pay-off. Term of the loan is also dependent on if the business only is being sold or if there is real estate along with the business purchase.
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How long does it take to get financing?
Approval letters take between 1-4 days and actual funding takes between 23-40 days depending on the situation and how prepared you are with your paperwork - application and forms etc. That's where we come in - we know which lenders are motivated to lend and their specialty and we will assist you throughout the loan process making sure you get your loan for your business purchase in an efficient and timely manner!
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How are you different from other financing sources?
Since we specialize only in this type of financing (getting financing related to businesses) - we track all the top lenders who offer this type of financing to business buyers and sellers and know their nuances - what they like, what they'll do and not do - this saves you a lot of time and gets you the best deal possible in the least amount of time! Remember lenders change their lending criteria often, another good reason to let us assist you in getting you financing to purchase a business.
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What is the optimal way to structure a deal to get financing?
There are many ways to optimize for business purchase financing - the buyer will need to put down 15%-30% down, if the owner can carry back a portion of the purchase price and if you can pledge any personal real estate toward the purchase that too will influence those during the underwriting process. Factors that affect the deal structure and terms are: provable cash flow of the business, history of the companies earnings and cash flow, the industry the business is in, the work experience/skill set of the buyer, the lease term left on the business, and some other factors. All of these play a role if you get a loan, the terms of the loan, the interest rate, etc.
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Invoice/Accounts Receivable (AR) Factoring FAQs
What is usually the problem?
Have long billing cycles put a strain on your business cash flow? Despite increasing sales, does the management of receivables and payables seem like a juggling act? Could your business increase sales by offering better terms to your new and larger customers? Are you spending too much time collecting from slow paying customers and not enough time building your business? Is the bank turning you down for traditional financing due to years in business, profitability, lack of assets, personal guarantees and financial strength?
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Have you considered turning away new business due to slow cash flow?
These are challenges many businesses face that can be solved with Factoring.
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What is Invoice/AR Factoring?
Invoice Factoring, also called Accounts Receivable Factoring, is a financial service that allows a business to sell its outstanding receivables to a financial institution called a Factor, and receive immediate cash funding. The factoring companies buy the invoice from you today for an amount less than face value, then later collect the full amount when the receivable is due. If your business sells products or services to other businesses or governments on credit terms, factoring receivables can eliminate the long billing cycles that put a strain on your cash flow.
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What are Top 10 benefits of factoring receivables?
- Obtain funding for your outstanding receivables within 24 hours.
- Accelerate cash flow to make payroll and take new orders.
- Offer better terms to large customers and increase sales.
- Extend credit to large customers without asking for COD.
- No new debt is created. Factoring is not a loan.
- Pay your suppliers faster, take advantage of early pay discounts.
- Improve your business cash flow and credit rating.
- Eliminate long billing cycles and the hassle of collecting money.
- Instant credit guarantees for new customers.
- No obligations and No binding contracts.
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