SCMSDC Lending FAQ

Before you apply for a loan, let’s determine whether a loan makes sense for your business or not.

Before you borrow, do your homework.

The SCMSDC and Supplier Success want you to be fully informed before embarking on the loan application process. To make your life easier we’ve compiled a list of resources from around the web. These links will help you decide whether a loan is right for you, and help give you an idea of what to expect during the process.

Common questions about our loan application

No. We only use a “soft credit pull” that does not impact your credit in any way.
Using our Lendio portal, you receive offers from over 70 lenders with one loan application, rather than applying to each service one-by-one. This marketplace-based approach generates more competitive offers.
You will receive offers within 48 hours of a completed application, and can receive funding as quickly as one week after applying.
We can finance loans up to $3M using our online lending solution. For larger loans, we recommend our SupplierCapital lending product.
Our loan underwriters simply want to know, in a broad sense, what the money is for before they lend it to you. This is a standard lending application question.
Certain lenders require you to possess certain assets in order to offer you a loan.
Some lenders want to understand what your company makes in revenue versus how much you are taking in as personal income. They want to be sure that the loan is going to your business, and not your personal bank account.
Personal credit may or may not be a factor depending on how long you have been in business. For new businesses without much credit history, personal credit is a significant factor. The longer you have been in business, the less chance there is of your personal credit score being a factor to lenders.
Bank statements are needed for underwriting all business loans. This is a standard piece of information needed by lenders before issuing a loan offer.

Are you ready to get a loan?

Supplier Success is the endorsed lender of the SCMSDC. We can get you funded in a week.