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FAQ's:

Who or what is E-Funding Company?

E-Funding Company (EFC) is a consulting firm that specializes in helping start-up businesses and established businesses to get funding.  EFC can help any time during the process from setting up a company to the day funding is received.  We can help your business not only establish business credit but how to build business credit.

Do I have to be in business already to get funding?

No, we work with start-up businesses and established businesses.  We do not require a business to have cash flow to get funding.

Are you the lender?

No, we are better than a lender. We work with many reliable bank and non-bank lenders across the country and advantageously match you with the lender (s) who will give you the highest approval amount and best possible terms. We are not tied to any one bank.

What are the ‘general’ requirements to qualify for your services?

  • 700+ Credit Scores
  • 3 to 4 Seasoned PRIMARY Tradeline Accounts
  • Verifiable Income
  • We may be able to help you get funding if your credit score is lower than 700.  This can be as low as 600 but will depend on your loan file or case.

How long will it take to receive a quote after reviewing my credit?

Generally, you will receive an emailed response within a few hours from the time your report is received. However, it may take up to 72 hours depending on how busy it is; the number of requests along with the number of files in the queue. For faster results, it is imperative to provide as much information as possible together with credit report login information.  Please go to our website and click on the “credit report” tab and pull a soft pull credit report. Turn this in with the other things you send into us.

What is a soft pull credit report?

A soft pull credit report is a report that does not hurt your credit.  We use this type of inquiry into your credit so that we may pre-qualify your loan application.  The soft pull will not show up as a negative inquiry on your credit report and will not affect your credit score.

I have great credit.  Can I simply apply with ‘any’ one bank and get a loan for $25,000 – $100,000? (Unsecured)

You can try.  Our service is meant to inform you about the process but also to help you obtain maximum funding without hurting your credit.  Many uninformed borrowers still believe they can walk into any bank or lender’s office, apply for funding and obtain funding in the amount they desire from a single lender or bank as was the norm before 2008. Current trends tell a different story. After examining countless cases from all over the country, the number of cases where that first scenario is true is far and away the exception and not the rule.

I am ready to start. How does your general process work?

The process can vary with each client. But in general, we must first review your credit profile in order to accurately quote the amount of funding we believe we can obtain for you. If our quote is acceptable to you, we will then contact you directly to go over how our process works. We will inform you about other documents or information we need from you in order to proceed. You will be issued our main application, along with our fee agreement via email.  We do not get paid unless we can help you get funding.  Go to our “Home” page and click on “Get Started” to start the pre-approval process.

Which states does your company offer services?

We are able to help all clients nationwide. We do not work with international clients. If you are not in the USA, you will need a credit partner that is and meet our credit and loan critera requirements.

Will you accept any free credit report to analyze?

No.  Accuracy of the entire credit profile is critical.  Additionally, it is important that we receive the information in the same format each time as it does speed up the process as well as increase the accuracy.  Currently, Experian is the only credit monitoring system we use.  This credit report will not put a hard inquiry on your credit report.  Click here to get one.

Can I shop around for other loans while I am in the process of funding with you?

No. It would not be prudent to apply for other loans during the process.  This is because it will affect your loan with our company and you may lose our loan plus any other loans you may be looking at too.

What are your performance fees for your funding services?

Our performance fees vary on the complexity of the file, location, and the amount of time we need to spend on each case. After we review your credit we inform you about the amount of funding we believe we can obtain for you, and the performance fee is then quoted verbally and then in writing.  We must receive our fee agreement to move forward.

What are the interest rates with your lenders?

Interest rates on average can range from 7% – 18% (average only and maybe higher or lower depending on your credit and loan profile) annually over a 3-7 year term. There are no pre-payment penalties with the lenders we use. Your credit score dictates the interest rate. The higher your credit score, the better your interest rate and terms will be.