Check out some important
FAQ’s below
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Q: How long has Millendeal been in business?
Since our inception in May 2016, we have facilitated north of $100 Million to businesses in the USA and Canada.
Q: How can Business Loan Warrior help my business?
Millendeal can help your business in several ways. We understand every business is unique, and we therefore offer a variety of business funding solutions, to meet your businesses specific need. Our internal credit review will help prepare your application for underwriters, therefore increasing your chances of getting approved. Our clients appreciate the feedback we give them, so they can make some minor changes in their business to help get qualified for better financing.
Data is stored in Hippa Compliant, GDPR compliant and ISO 20071 online storage. We value our clients data to highest degree, which allows us to offer bank level type security. We do not share your sensitive data with any vendors or lenders that are not within our network. Additionally, we will never sell your data.
We value your privacy to the highest degree. We are an approved partner of Experian, and therefore access your credit report via their platform. We run a single, soft-credit check , which means that the report will not negatively impact your credit.
Q: How are you different from a traditional bank?
Millendeal is a SAAS (Software-As-A-Service) platform that leverages its technology to efficiently connect businesses and creditors. Our platform simplifies and speeds-up the loan application process. Millendeal applicants submit much less paperwork than a traditional bank loan application, and timeline to funding is much quicker. Disclaimer: Rates and terms are based on applicants overall credit rating.
Q: What does it cost to Apply?
Applying is free. Please make sure to review your funding approvals to make sure that any and all fee’s are disclosed ahead of time. Disclaimer: Rates and terms are based on applicants overall credit rating.
Q: What does it take for my business to qualify ?
Our minimum requirements are to be in business for at-least 3 months and generate at least $10,000.00 / month is sales. Majority of our clients are in business for at-least 12 months and generating $1,000,000.00 in sales annually. Another very important factor is maintaining healthy, positive average daily bank balances. If banking activity is erratic , and/or has too many NFS’s and negative ending daily balances, unfortunately applications such as these are typically declined. Disclaimer: Rates and terms are based on applicants overall credit rating.
Q: Do I need a minimum FICO score to apply?
Most of our clients have 600+ FICO Scores. However, exceptions can be made on a case by case basis. If your FICO score is low, please speak to your account executive. Quite often, there’s easy corrections that you can make to increase your credit score. Paying off debtors that still have a small balance will help increase your score, amongst other things. Disclaimer: Rates and terms are based on applicants overall credit rating.
Q: What does your Funding Structure look like?
We facilitate Short Term Business Loans, Business Lines of Credit, Invoice Financing/ Factoring, Equipment Financing and Unsecured Business Merchant Cash Advances. Disclaimer: Rates and terms are based on applicants overall credit rating.
Q: What does your re-payment Structure look like?
Depending on the Business Funding Type that we facilitate, will depend on the repayment method. First and foremast, we are very adamant about providing our clients with capital that will help their businesses. Therefore, it is important to review your funding approval with your accounting to make sure the daily, weekly or monthly payments are affordable. Usually, Payments are made via ACH from your business checking accounting either weekly or daily. Disclaimer: Rates and terms are based on applicants overall credit rating.
Q: What’s the minimum and maximum you can fund?
Micro-Loans starting at $2,500.00 and up. Disclaimer: Rates and terms are based on applicants overall credit rating.
Rates start at 5.99% annually and go up from there.
At this point in time, we do not currently offer business funding for Start-Up’s. However, we do provide personal loans and credit card match through our partner Bankrate.
Q: What Do I need to do to Apply?
Complete our secure, online application. It’s super fast and requires only the 6 most recent business bank statements, and business credit card processing statements.
Q: How long does it take to receive my funds?
From applying to receiving the funds into your business checking account, can take as little as 24-48 hours. Filling out the application with accurate information is important to guarantee a short funding timeline.
Our Dashboard
Credit Insights for Your Business
Millendeal is a creative financing company, designed to assist businesses located throughout the USA and Canada access premium capital.
When the banks say no, or the conventional loan process is too lengthy, businesses in all sectors of industry rely on us to secure funding.
We are an information technology company, which leverages its technology to connect businesses and lenders. We are not a direct lender.