Frequently Asked Questions
How do I qualify for funding from Sierra Solutions?
To qualify for funding from Sierra Solutions, your business should have the following characteristics:
Minimum one year in business.
Minimum of $100,000 in annual revenue.
Minimum 525 personal FICO score of the business owner.
Business checking account.
What industries do you work with?
We work with more than 400 different kinds of businesses including restaurants, auto repair shops, healthcare professionals, contractors, landscapers and many other service providers.
Does Sierra Solutions perform a hard or soft inquiry on my credit?
When determining eligibility, we’ll perform a soft credit check on the business owner’s personal credit.
Is it hard to get approved?
Navigating the world of small business loans can seem daunting, but with Sierra, we aim to simplify the journey. The ease of approval largely depends on various factors, including your business’s financial health, credit score, and operational history. At Sierra, we’ve streamlined our criteria and process to ensure a more straightforward and transparent approval journey. With our dedicated support and clear guidelines, securing a loan for your business’s growth has never been easier
What are the interest rates?
Interest rates vary, depending on the loan size, term, lender, and credit score.
How does the application process work?
Our application process is simple and typically takes about 10 minutes. You’ll complete one application, and we’ll evaluate which product is the best fit. You can apply online or over the phone by calling 559-286-0604
I was told I was pre-approved - what does that mean?
Pre-approval means your business is qualified and meets our preliminary approval requirements, but it doesn’t guarantee final approval. Approval of your application is subject to there being no material changes to the financial condition or creditworthiness of you and/or your business, fraud review and other conditions.
What fees are charged?
Every Sierra Solutions funding customer is different, but you can find your specific fee structure on the forms and lending disclosures
How does repayment work?
Payments will be deducted from your business bank account on a daily, weekly or monthly basis, depending on what type of funding you’re approved for
How can a Sierra Solutions loan or financing solution help grow my business?
With funds in as fast as 24 hours, simple interest rates, and no prepayment penalties you can take advantage of growth opportunities early. You could use your funding to cover payroll, hire full-time or seasonal employees as you need them, stock up on extra inventory during a sales rush, or buy materials or equipment for your next big project. You could also renovate your office, warehouse, or storefront, or lease a larger one.
Schedule your business loan consultation today!
Contact
info@sierrafunding.org
559-286-0604