How funding works, from application to money in the account

An application arrives with a signed application form, at least three months of business bank statements and authorisation for a soft credit check. A file is only reviewed once all three are in hand; incomplete files wait.

Underwriting reads the bank statements for deposit consistency, account health and existing obligations, then returns a conditional decision in about two business hours. A conditional offer states the advance amount, the total repayment and whether withdrawals are daily or weekly. It is not a commitment to fund and holds for 10 business days provided nothing material changes.

Accepting an offer moves the file to verification: a credit and background check on the owners, a read-only bank connection, and confirmation of business details. Owners representing at least 75% of the business sign the funding documents.

A final decision follows in about two hours after a signed contract is returned, with up to 24 hours where a file needs a second look. A short funding call confirms the details with the owner, then funds are released and approved advances can be funded the same day.

Repayment is collected by fixed pre-authorised daily or weekly withdrawals from the business bank account. Paying early does not reduce the total, which is fixed when you sign. Renewals can be considered once roughly half of an advance has been repaid, though eligibility is never automatic.

Frontier Funding Inc., Toronto, Ontario, Canada. Phone 1-226-594-0260. Email info@frontierfunding.ca.