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Frequently Asked Questions

If you’re new to Winchester Funding Solutions or exploring funding options for your business, this guide will help you learn more about our services and how we can support your growth.

General Questions

Who is Winchester Funding Solutions?

We are a local business lending broker that connects small businesses with funding solutions tailored to their needs.

What types of business financing does Winchester Funding Solutions offer?

We offer term loans, SBA loans, business lines of credit, equipment financing, invoice financing, working capital, merchant cash advances, and more.

How do I know which loan is right for my business?

Our financial advisors assess your business needs, revenue, and goals to recommend the best financing option.

How do I apply for funding?

You can apply online through our website by providing basic business and financial details. A funding specialist will then contact you.

Will applying affect my credit score?

A soft credit pull is performed initially, which does not impact your score. A hard inquiry may be required during final approval.

Are there any upfront fees for applying?

No, there are no application fees. Costs depend on the loan terms and lender policies.

How does Winchester Funding Solutions compare to traditional banks?

We offer faster approvals, flexible terms, and a higher approval rate than traditional banks, which have stricter lending requirements.

Is my business information secure with Winchester Funding Solutions?

Yes, we use industry-standard encryption and security measures to protect your data.

Will multiple applications hurt my credit score?

No, applying through Winchester Funding Solutions won’t negatively impact your credit unless a hard inquiry is performed.

What are the minimum qualifications for business funding?

Qualifications vary by loan type, but common factors include time in business (4+ months), monthly revenue ($10,000+), and credit score (600+).

How long does the approval process take?

Depending on the product, approvals can be received within a few hours.

What documents do I need to apply for a loan?

Typically, you’ll need bank statements, financial statements, tax returns, and business identification.

Can startups qualify for funding?

Yes, startups may qualify for specific funding options like SBA loans, equipment financing, and business lines of credit.

Do you work with businesses in all industries?

Yes, we work with businesses across various industries, including retail, healthcare, construction, manufacturing and more.

Does Winchester Funding Solutions require a credit check for loans?

Some products require a soft credit pull, while others require a full credit check.

How can I improve my credit score to qualify for better loan options?

Paying bills on time, reducing debt, and maintaining a good credit utilization ratio can improve your score.

Term Loan Questions

What is a term loan?

A term loan provides a lump sum of capital that is repaid over a fixed period with regular payments.

What credit score is required for a term loan?

Most lenders prefer a credit score of 600+, but options are available for lower scores.

What are the typical repayment terms for a term loan?

Repayment terms typically range from 1 to 10 years, depending on the loan amount and lender.

Can I pay off my term loan early?

Yes, but some lenders may charge prepayment penalties. Check your loan agreement for details.

SBA Loan Questions

What types of SBA loans does Winchester Funding Solutions offer?

We offer SBA 7(a) loans, SBA 504 loans, and SBA Express loans.

How long does it take to get an SBA loan?

The process takes 30–90 days, depending on the loan type and documentation requirements.

Can I use an SBA loan to start a business?

Yes, but you may need strong personal credit and collateral. SBA loans are generally more accessible for existing businesses.

What are the eligibility requirements for an SBA loan?

Typically, businesses must be operational for at least 2 years, have a credit score of 650+, and demonstrate financial stability.

What is the difference between an SBA 7(a) and an SBA 504 loan?

SBA 7(a) loans are versatile for working capital and expansion, while SBA 504 loans are used for purchasing real estate or equipment.

Business Line of Credit Questions

How does a business line of credit work?

A business line of credit allows you to borrow funds up to a set limit, repaying only what you use with interest.

What are the typical interest rates for a business line of credit?

Rates vary based on creditworthiness but typically range from 7% to 25%.

What’s the difference between a line of credit and a term loan?

A term loan provides a lump sum with fixed payments, while a line of credit is flexible and can be used as needed.

Can I withdraw funds multiple times from my credit line?

Yes, you can withdraw funds as needed, as long as you don’t exceed your credit limit.

Equipment Financing Questions

What types of equipment can be financed?

Almost any business equipment, including machinery, vehicles, and technology, can be financed.

Can I finance used equipment?

Yes, many lenders allow financing for used equipment, provided it meets certain conditions.

Do I need to provide collateral for equipment financing?

The equipment itself often serves as collateral, so additional assets may not be required.

What happens if the equipment breaks down during the loan term?

You are still responsible for payments, but warranties or maintenance plans may be available.

Invoice Financing Questions

How does invoice financing work?

You sell unpaid invoices to a lender at a discount to receive immediate cash.

How soon can I get funds through invoice financing?

Funds are usually available within 24–48 hours of approval.

What percentage of an invoice can I get advanced?

Typically, 80–90% of the invoice value is advanced upfront.

What happens if my customer doesn’t pay the invoice?

You may be responsible for repayment, depending on whether the financing is recourse or non-recourse.

Working Capital Loan Questions

What can a working capital loan be used for?

These loans cover everyday business expenses like payroll, rent, and inventory.

What are the repayment options for working capital loans?

Repayments can be daily, weekly, or monthly, depending on the lender.

How quickly can I receive funds from a working capital loan?

Funds can be available in as little as 24 hours.

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Easy Qualification

What you need to qualify?

3+ Months in Business

You can qualify for our top financing options with as little as 3+months in business.

$5K+ Monthly Gross Sales

The minimum revenue to qualify for financing options are $5K per month, or $60K in annual gross sales.

No Minimum FICO

We have financing options for all credit profiles. There is no minimum FICO score required to apply.

Testimonial

Genuine Reviews From

Satisfied Customers

Working with Winchester Funding Solution was a game-changer for my business. I was struggling to secure funding through traditional banks, but they found the perfect loan with great terms that fit my needs. The process was fast, smooth, and stress-free. Thanks to their expertise, I was able to expand my operations and increase revenue. Highly recommended!

Jason D - Small Business Owner

I was hesitant about applying for a business loan, but Winchester Funding Solution made the process incredibly easy. They explained all my options, handled the paperwork efficiently, and secured a loan with a great interest rate. Because of their help, I was able to purchase new equipment and grow my business faster than I expected. I highly recommend their services!

David T - Independent Contractor