Question 1

What does Leap Funding do?

Accepted Answer

Leap Funding is a commercial finance advisory firm that helps US small and mid-size businesses get funded. One short application is matched to every program the business qualifies for across a network of 100+ lenders, including term loans, lines of credit, SBA loans, startup business credit, and real estate financing.

Question 2

What credit score do I need for a business loan through Leap Funding?

Accepted Answer

It depends on the program: Express Term Loans start at 580+ FICO, Growth Term Loans at 640+, lines of credit and SBA loans at 650+, and startup business credit at 680+. Real estate financing uses flexible credit requirements.

Question 3

Can a startup get funding through Leap Funding?

Accepted Answer

Yes. The SLOC startup business credit program offers up to $250,000 at 0% APR for 12 to 18 months with no minimum time in business, typically for owners with 680+ FICO.

Question 4

Can Leap Funding help pay off merchant cash advances?

Accepted Answer

Yes. Growth Term Loans and Express Term Loans can buy out up to 2 existing MCA positions, replacing daily or weekly payments with longer-term bi-weekly or monthly payments.