Our Underwriting Process

At First Merchant Funding, we use a proprietary credit model designed to streamline the entire underwriting process. We want the Application-to-Funding period to be as straight-forward and as timely as possible. Below are the underwriting stages:
Stage 1: Information Gathering (Day 1)

Submit the following information to us by either faxing it to us at 239-791-1275 or emailing us at sales@fmps.com
        1. Our one-page application 
        2. 4 months of recent credit card processing statements 
        3. 2 months of recent bank statements of your business account 
Upon receipt, a qualified First Merchants representative will contact you within 1 business day to discuss your funding options.

Stage 2: Our Credit Model & Pre-Qualification (Day 1-2)

Your submitted information is then run through our proprietary credit model in order to determine if you are pre-qualified for a business cash advance. Your official pre-qualification status will be communicated to you within 2 business days. If you are pre-qualified, you will be sent a contract containing the terms of the business cash advance and continue on to Stage 3. 
Key factors our Credit Model uses include:
        1. Company’s and business owner’s credit history**  
        2. Length of ownership and age of business  
        3. Industry segment 
        4. Company’s historical credit card processing patterns  
        5. Location of business
** Even if your credit is poor, you can easily qualify as long as your business is solid!  
Stage 3: Contract Signature, Verification & Final Approval (Days 3-6)

When we receive your signed contract and a copy of a government-issued ID (driver’s license or passport), the Underwriters will confirm the accuracy of the submitted information, issue a site inspection, conduct an interview with the business owner and the landlord (if applicable), and confirm the batching process. This Verification & Final Approval process is done within 1 to 3 business days. After it is completed, the funds are wired into your company’s checking account! 
Apply Now for a Business Cash Advance by call us at (866)-936-2530 for an instant answer!