How to Receive a Quote (No Hard Credit Check, No Obligation)

At FundLocal, we believe in providing business owners with a risk-free and transparent way to explore funding options. That’s why we offer a no-obligation quote process that doesn’t require a hard credit check, allowing you to explore your financing options without any impact on your credit score. Here’s a step-by-step guide on how to receive a quote and what you can expect.

The first step in receiving a personalized funding quote is to provide us with some basic information about your business. This helps us evaluate your eligibility and create a tailored quote based on your business’s unique needs. Here’s what we’ll need from you:

• Business Name: The legal name of your business as registered.

• Industry: The sector your business operates in (e.g., retail, construction, restaurants).

• Annual Revenue: Your estimated or actual annual revenue.

• Time in Business: The length of time your business has been operating.

• Business Address: The physical address of your business.

This initial process is quick and easy, typically taking just a few minutes to complete.

Unlike traditional lenders, FundLocal doesn’t require a hard credit check to provide a funding quote. This means that:

• Your credit score will not be affected: We perform a soft credit inquiry—if necessary—that does not show up on your credit report or impact your score.

• Risk-free exploration: You can review your funding options without any risk of lowering your personal or business credit rating.

This soft inquiry allows us to assess your business’s financial health without the downsides of a hard inquiry.

Once we’ve reviewed your basic business information, we will send you a personalized funding quote. This quote is based on your business’s financial profile and includes important details such as:

• Funding Amount: The maximum loan or line of credit amount you are eligible for.

• Interest Rates: The estimated interest rates you would receive based on your business’s financial data.

• Repayment Terms: An outline of the repayment schedule and terms, so you know exactly what to expect if you choose to move forward.

You are under no obligation to accept the quote once you receive it. If the quote fits your needs, you can proceed with a formal application. If you decide not to move forward, there are no penalties or fees.

After reviewing the quote, you can decide whether to accept or decline it:

• Accepting the Quote: If the quote meets your business’s needs, you can proceed to the next step, which involves submitting additional documents (e.g., business bank statements) to finalize your application.

• Declining the Quote: If you decide not to move forward, there is no obligation to proceed, and no cost for declining the offer. You can request another quote later if your business’s needs change.

If you decide to proceed with the quote, the next step is to formally apply for funding. This involves:

• Submitting Business Bank Statements: Typically, we’ll need 3 months of bank statements (or 4 months if you're in California, New York, or Utah) to assess your cash flow and finalize the loan offer.

• Final Approval: Once we’ve reviewed your documents, you’ll receive a final decision on your funding application—often within a few hours or the next business day.

Here are some key benefits of our no-obligation quote:

• No Impact on Your Credit: Because we don’t require a hard credit check, your credit score remains unaffected.

• Risk-Free Exploration: You can see exactly what funding options are available without any commitment to proceed.

• Quick and Simple: The process is designed to be fast, with quotes generated based on basic business information in just a few minutes.

• Clear and Transparent: Our quotes provide detailed information about interest rates, repayment terms, and fees, so you have a full understanding before making a decision.

• No Pressure: You have full control over whether to accept or decline the quote, with no obligation to move forward if the offer doesn’t fit your needs.

Receiving a quote from FundLocal is a simple and stress-free way to explore your funding options. Whether you're looking for a Business Line of Credit, Equipment Financing, or a Working Capital Loan, our no-obligation quote process is designed to give you all the information you need without affecting your credit score or locking you into any commitments.

If you’re ready to explore your options, simply provide your business information, and we’ll get you a personalized quote in minutes. For any questions or assistance, feel free to contact our support team or continue browsing our knowledge base.