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FAQs

How do I apply for a loan?

The application process is fast and simple. Click on this link and fill out the two pages of general information. Additional documentation like bank or credit card statements may be requested based on a PowerUp representatives review.

How much can I borrow?

Our minimum loans is $20,000 and we do not have a limit on how much we will lend.

What is the interest rate?

The interest rate is determined by certain factors specific to the client and varies across our portfolio. There is no limit rate applicable to our merchant cash advance products.

How long is the life of my loan?

There is no limit to the life our loans. The duration is determined by the clients’ needs.

What documentation do you need?

We may require three to 12 months’ of bank statements and/or credit card statements. You can either email them to us at documentation@poweruplending.com or fax them to 1-844-651-5328.

How long does it take to get approved?

Because all of our loans are funded with assets of the company without any participations or third-party involvement, we are the quickest lenders in the business.  The majority of our loans are approved within hours of the application being received.

How long does it take to receive my money once approved?

Once we have all of the documentation, we can deliver decisions within minutes, and funding in as fast as 1 business day.

Does my business need certain revenue levels to be approved?

We require that your business has earned an annual revenue or are trending toward an annual revenue of at least $100,000 over the last 12 months.

How does repayment work?

We deduct a fixed payment from your business bank account on a daily or weekly basis, depending on the product you are approved for. These fixed payments help ensure minimal impact to your cash flow.

Are loans unsecured?

Generally, our loans are not secured by real property or personal assets; however, they are backed by a personal guarantee.

Still have questions?

Drop us a line here and one of our customer support representatives will get back to you within 24 hours.