Business loans FAQ
What is the application process?
Applying for a loan is simple and typically takes about 10 minutes. You can apply online in minutes or over the phone by calling 1-888-269-4246.
What information do I need to apply
Depending on your loan amount, we may ask for:
Business Tax ID
Credit card statements for the previous 3 months
Bank statements for the previous 1 to 3 months
Social Security number of business owner(s)
Driver’s license number and state of issue
What are the basic requirements to qualify for a loan?
To qualify for a loan, your business should have the following characteristics:
1+ year in business
$100,000+ in annual revenue
Are Short Term Loans unsecured?
Third Party loans are not secured by real property or personal assets; backed by a personal guarantee, and in most cases a lien is filed on the assets of the business but no lien is filed on specific collateral like equipment or vehicles.
How is BitX different from other lenders?
BitX Funding is a lending partner connecting small businesses to financing options faster and more often than the traditional alternatives. We offer sort term loans as well as merchant cash advances that fit your needs.
We know how small businesses operate; our team has been working with entrepreneurs and business owners for over twenty years. We understand how important it is for businesses to have access to working capital when challenges or opportunities arise.
What type of industries do you work with?
We work with approximately 700 different kinds of businesses in all 50 states, including restaurants, retailers, auto repair shops, healthcare professionals, HVAC contractors and many other service providers.
What are the amounts and terms of loans?
BitX offers loans ranging from $5,000-$500,000, with terms between 3-24 months.
How quickly can I receive a loan?
BitX delivers decisions in minutes, and funding in as fast as 24 hours.