Timing for receiving approved funding depends on many factors. Each lending partner has its own approval processes, and results in differing funding timelines. The typical time to fund can be anywhere from 24 hours to 6 weeks.

A personal credit score is a reflection of how someone repays their mortgage, auto loans, or other personal obligations and is typically demonstrated in a score from 300 to 850. The higher the score the better. A business credit profile reflects how business owner meets their business financial obligations. While there is no universal business credit score, some of the bureaus score different business behaviors to represent creditworthiness. The three primary personal credit bureaus are: Experian, Equifax, and Transunion. The three primary business credit bureaus are: Dunn & Bradstreet, Experian, and Equifax.Learn more about business credit and personal credit in our Business Owners’ Guide to Business Credit and our Business Owner’s Guide to Personal Credit.

A line of credit is a revolving form of credit that provides a predetermined capital limit and can be accessed as needed. Unlike a traditional term loan, all or part of the line can be accessed at any time up to the predetermined limit. Interest is only paid upon the amount actually used.

Technically factoring is not a loan; it is the purchase of future receivables. A third party, known as a factor, purchases a company’s invoice(s) or purchase order(s) at a discount giving a business owner access to a percentage of that invoice or purchase order upfront, instead of when the invoice is paid. The balance, minus the agreed upon fees or discount, is paid to the business owner once collected by the factor.For example, if you had an invoice for $10,000, using a factor (or factoring that invoice) would allow you to access a percentage now, and the balance, minus the factor’s fee when the invoice was paid. Every factor is a little different, but let’s say the factor paid you $8,000 now and the factor’s fee was 6%, the transaction would look like this:$8,000 today + $2,000 – $600 (factor fee) when the invoice was paidBasically, you sold the $10,000 invoice for $600 to access the capital now, instead of later.You can read more about factoring in our Business Owners’ Guide to Factoring.

A bankruptcy in your past doesn’t necessarily preclude you from getting a small business loan, but it might make it more challenging. While not all lenders have the same requirements after bankruptcy, it’s unlikely a customer would qualify within the first year. Many lenders will require at least one year of improving credit history following the disposition of a bankruptcy.

Collateral is any asset or assets, which can be offered by a customer to secure a loan. Should a customer default, the lender can take possession of the asset, or assets, to satisfy the loan.

It’s common practice for lenders to require a personal guarantee from the business owner(s) to protect the lender should the business default on the loan. Lenders do this to mitigate the risk of lending to small businesses, and the guarantee is often a requirement by the lender before offering a loan. In the event of a default, a personal guarantee gives the lender additional options to collect the debt.

That all depends upon the type of loan you’re looking for. To qualify for an SBA loan you’ll need a business plan. While other lenders might not require a formal business plan, they will ask questions about loan purpose, how this loan might positively impact profitability, etc. Whether or not a lender requires a business plan, it’s a good idea to go through the exercise so you can articulate why you are looking for a loan and the benefit you expect to gain from the capital.

PalmBchCap.com, Palm Beach Capital, and/or Palm Beach Capital Funding, collectively, and our affiliates referred to as the (“Company,” “Us,” “Our, ”or “We”) offers an online platform that provides access to information about third party financial services and products. We respect your privacy and are committed to protecting it through our compliance with this privacy policy, supplemented by the Privacy Notice for California Residents (this “Policy”). This Policy describes the types of information we may collect from you or that you may provide when you use the website at www.palmbchcap.com, including subdomains (our “Website”) and our related services (the “Services”) and our practices for collecting, using, maintaining, protecting, and disclosing that information. This Policy applies to information we collect: On this Website, and any other website affiliated with Us. In email, text, and other electronic messages between you and this Website and between you and the Company. When you interact with our advertising and applications on third-party websites and services, if those applications or advertising include links to this Policy. When you interact directly with us offline or through other means including social media platforms, and any application. It does not apply to information collected by any third party, including through any application or content (including advertising) that may link to or be accessible from or on the Website or through any communication that you may have with one of our partners, such as a financial service provider. Please read this Policy carefully to understand our policies and practices regarding your information and how we will treat it. IF YOU DO NOT WANT TO AGREE TO OUR POLICIES AND PRACTICES, DO NOT USE OUR WEBSITE OR ANY OF OUR SERVICES. By accessing or using this Website or any of our Services, you agree to this Policy. This Policy may change from time to time (see CHANGES TO OUR PRIVACY POLICY below).Your continued use of this Website or any of our Services after we make changes is deemed to be acceptance of those changes, so please check the Policy frequently for updates. Any capitalized terms not defined in this Policy have the definitions assigned to them in our Terms of Use [palmbchcap.com/terms-conditions]. Please note: Our Website and Services are intended to be accessed and used only by adults and are not offered or directed to minors. We do not knowingly collect personally identifiable information by anyone under the age of 18, and you should not provide us with any information regarding an individual under the age of 18.

Personal Information Collected. We may collect personally identifiable information (“Personal Information”) to use as part of our Service. This Personal Information may include, but is not limited to: name, postal address, e-mail address, telephone number; and/or any other identifier by which you may be contacted online or offline. Other Information Collected. We may also collect the following information (together with Personal Information, “User Information”): information about you but individually does not identify you, such as your income and your credit score; information that you choose to provide about a third party that is not seeking financial information; and/or information about your internet connection, the equipment you use to access our Website and usage details. You may still access and use our Website and Services if you choose not to provide us with any of the above User Information, but some of our Website features and Services may not be available to you and may not be as accurate or complete. You may provide information about other people, such as their name and email address. This information is used for whatever reason it may have been provided. The third party may contact us at support@palmbchcap.com to request that we remove this information from our database. We collect this information: Directly from you when you provide it to us. Automatically as you navigate through the Website. Information collected automatically may include usage details, IP addresses, and information collected through cookies, web beacons, and other tracking technologies. From third parties, for example, financial service providers that we partner with to provide you with information about certain financial products and services. The information that we receive from these third parties will depend on the policies of that third party service. Information You Provide to Us. The User Information we collect on or through our Website or Services may include: Information that you provide by filling in forms on our Website. This includes information provided at the time of requesting a match to specific financial service providers, or posting material. We may also ask you for information when you enter a contest or promotion sponsored by us, and when you report a problem with our Website or Services. Records and copies of your correspondence (including email addresses), if you contact us. Your responses to surveys that we might ask you to complete for research purposes. Details of transactions you carry out through our Website or any of our Services. Your search queries on the Website. The information you will need to submit in order to receive specific quotes and rates about financial services and products will be submitted on a third party service provider website, and will not be collected by the Company, unless such third party chooses to provide the information to the Company, as specified above. The collection and use of the information will be governed by the privacy policies of the financial services providers, and not this Policy. If you submit such request to a financial service provider, you may be contacted directly via mail, telephone, text message, fax, email and other means of communication by such service provider. You may receive telemarketing calls, even if you are on the national do not call registry. You also may provide information to be published or displayed (hereinafter, “posted”) on public areas of the Website or transmitted to other users of the Website or third parties, such as reviews of the Website (collectively, “User Contributions”).Your User Contributions are posted on and transmitted to others at your own risk. Although we may limit access to certain pages, please be aware that no security measures are perfect or impenetrable. Additionally, we cannot control the actions of other users of the Website with whom you may choose to share your User Contributions. Therefore, we cannot and do not guarantee that your User Contributions will not be viewed by unauthorized persons. Information We Collect Through Automatic Data Collection Technologies. As you navigate through and interact with our Website, we may use automatic data collection technologies to collect certain information about your equipment, browsing actions, and patterns, including: Details of your visits to our Website, including traffic data, location data, logs, and other communication data and the resources that you access and use on the Website. Information about your computer and internet connection, including your IP address, operating system, and browser type. Analytics. We may enter contracts with third-party service providers, such as FullStory, to collect non-personally identifiable data on behalf of palm.com and provide us with information, reports, and analysis about the usage, general location information, and browsing patterns of users of the Website and Services. All of the data collected by these providers on our behalf is owned by us. We do not have control over these service providers’ use of cookies or other tracking technologies or how they may be used. You can learn more information about some of these service providers, including their privacy policies and opt-out choices, by visiting Segment’s Privacy Policy, Intercom’s Privacy Policy, QuantCast Measure’s Privacy Policy, Facebook’s Data Policy, Microsoft’s Privacy Statement, FullStory’s Privacy Policy and Google Analytics Privacy Policy. Use of Automatically Collected Information. The information we collect automatically is statistical data and may include Personal Information, or we may maintain it or associate it with Personal Information we collect in other ways or receive from third parties. It helps us to improve our Website and to deliver a better and more personalized service, including by enabling us to: Estimate our audience size and usage patterns. Store information about your preferences, allowing us to customize our Website according to your individual interests. Speed up your searches. Recognize you when you return to our Website. Technology. The technologies we may use for automatic data collection may include: Cookies (or browser cookies). A cookie is a small file placed on the hard drive of your computer. You may refuse to accept browser cookies by activating the appropriate setting on your browser. However, if you select this setting you may be unable to access certain parts of our Website. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies when you direct your browser to our Website. Web Beacons. Pages of our the Website and our e-mails may contain small electronic files known as web beacons (also referred to as clear gifs, pixel tags, and single-pixel gifs) that permit the Company, for example, to count users who have visited those pages or opened an email and for other related website statistics (for example, recording the popularity of certain Website content and verifying system and server integrity).

Some content or applications, including advertisements, on the Website are served by third parties, including advertisers, ad networks and servers, financial service providers, content providers and application providers. These third parties may use cookies alone or in conjunction with web beacons or other tracking technologies to collect information about you when you use our Website. The information they collect may be associated with your Personal Information or they may collect information, including Personal Information, about your online activities over time and across different websites and other online services. They may use this information to provide you with interest-based (behavioral) advertising or other targeted content. We do not control these third parties’ tracking technologies or how they may be used. If you have any questions about an advertisement or other targeted content, you should contact the responsible provider directly. For information about how you can opt out of receiving targeted advertising from many providers, see CHOICES ABOUT HOW WE USE AND DISCLOSE YOUR INFORMATION below.

Use of Your Information. We use, store and process your information to provide and improve our Services and ensure a secure, safe and trusted experience. For example, we may use information that we collect about you or that you provide to us, including any Personal Information: To present our Website and its contents to you. To provide you with information and other services that you request from us. To fulfill any other purpose for which you provide it. To carry out our obligations and enforce our rights arising from any contracts entered into between you and us, including for our Terms of Use, Advertising Disclosure, and Privacy Notice for California Residents. To notify you about changes to our Website or any products or services we offer or provide though it. To improve the Website and Services. To allow you to participate in interactive features on our Website. To respond to correspondence that we receive from you. To resolve disputes. To protect against or deter fraudulent, illegal, or harmful actions. In any other way we may describe when you provide the information. For any other purpose with your consent. We may also use your User Information to contact you about our own and third-parties’ goods and services that may be of interest to you. If you do not want us to use your information in this way, please check the relevant box located on the form on which we collect your data. For more information, see CHOICES ABOUT HOW WE USE AND DISCLOSE YOUR INFORMATION below. We may use the information we have collected from you to enable us to display advertisements to our advertisers’ target audiences. Even though we do not disclose your User Information for these purposes without your consent, if you click on or otherwise interact with an advertisement, the advertiser may assume that you meet its target criteria. How Long We Store Your Information. We will keep your information for as long as necessary to provide you with the Services, maintain our legitimate business operations, and/or exercise, defend or establish our rights. How long we retain your personal information depends on why we collected it and how we use it, but we will not retain your personal information for longer than necessary for our business purposes or for legal requirements.

If you submit a request for information from a financial service provider that you were matched with through our Services, you expressly consent to the service provider conducting any research necessary to provide you with the information you requested. For example, in order to provide more accurate information, including specific quotes and rates, financial service providers may need to obtain additional background information about you, such as ordering consumer and credit reports in order to determine your eligibility for and price of certain financial products and services. These reports may also be used for maintenance of any of the products or services you purchase going forward. The financial service provider may engage third parties in connection with these reports. If you do not want service providers to conduct the necessary research to provide the relevant information, then you should not submit such request. Because the collection and use of this information is subject to the privacy policies of the relevant service providers, and not this Policy, you should review those policies with care.