Idea Financial offers a quick and efficient paperless application process broken down into three steps.

1. First we will ask for basic details about your business such as time in business, entity type and revenue figures
2. Next we will ask for business owner information including ownership structure and SSN.
3. Last, we will ask for a secure connection to your business bank account or for bank statements for the most recent 3 months.

You can start your risk-free application here. Applying does not affect your credit score.

We use advanced encryption to keep your information safe in accordance with our Privacy Policy.

There is no cost to apply for financing from Idea Financial. Our application is risk free, has no costs, and doesn't affect your personal credit score.

We will conduct a "soft pull" or "soft inquiry", which means that your credit score WILL NOT be affected.

After we receive your application, we will review it to ensure that we have the necessary information, and will reach out to you if we don't. Once we have a complete application we will proceed with a credit review and will provide you with an offer within a business day. The offer will include the financing terms, the product types, and next steps to access your funds.

We fund businesses that have:

• A minimum of 3 years in business
• $15,000 or more in monthly revenue
• Owners with 650+ credit scores
• Not a sole-proprietorship or nonprofit entity

You can start your risk-free application here. Applying does not affect your credit score.

We use advanced encryption to keep your information safe in accordance with our Privacy Policy.

A business line of credit is a flexible funding solution that allows business owners to withdraw funds up to a certain credit limit and pay interest only on the funds withdrawn. Every time you draw funds, your balance owed increases. Every time you make a payment, your balance owed decreases and you're able to withdraw more funds. With a line of credit you can draw and repay funds as you wish as long as the balance outstanding doesn't go over your credit limit.

Our line of credit is a truly revolving, credit line with no annual fees and no repayment penalties. This means that you can withdraw funds and make payments as needed with interest accruing daily on any outstanding balance. Payments are due weekly, bi-weekly or monthly and are setup so that you repay the amount owed over long repayment terms, which makes your payment amount low. Every time you make a draw, your repayment period starts all over again, giving you the ability to see even lower payments.

We have credit limits of up to $275,000. As a rule of thumb, you can draw funds up to your credit limit minus any outstanding balance. If your credit limit is $275,000, and your balance is zero (0), you can draw $275,000. You can draw as many times as you would like, as well, as long as you stay within your credit limit.

Even if you don’t need financing today, securing your line of credit ensures that funds will be available to you when the need arises. Unlike a term loan that requires you to start paying on the full amount immediately, the Idea Financial Line of Credit enables you to draw funds as needed, only paying for the funds used.

No, there are no fees to keep your Idea Financial account open.

Interest is calculated daily on the amount owed (i.e. the outstanding balance on your Idea Financial Line of Credit account). We apply the daily interest rate to the outstanding principal to arrive at the daily accrued interest. If there is any accrued interest, when you make a payment we apply the payment amount to the accrued interest first, then to any outstanding balance. The more payments you make, the lower your balance would be and the lower your interest cost would be as well.