Business Funding Engine??

Question

Hi all,

I am trying to review my options to get some working capital.  I am considering many different avenues including crowd funding, home equity loan, personal loans and lines of credit.  I came across a web-site for business and or real estate lines of credit:

http://businessfundingengine.com

Does anyone have any information for this company, good - bad?  Scam or reality?  Have you used them or know someone who has?  Any help would be greatly appreciated.

Kelly Hilliard · Answer

I can help you with a loan. We offer unsecured lines of credit with amounts from $2500-$1,000,000. Yiu need 6 months of income statements or 3 months of income statements and 3 months credit card statements.

Thanks!

Kelly Hilliard

Marenda Bullock · Answer

Seems no one has actually tried this company yet? I'm also hunting around for reviews. Coming up short so maybe that in and of itself is a sign.

Tony Castronovo · Answer

@Jeff Arms I am trying to check them out too.  I recently got an email with their info from a very reputable real estate investor, which prompted me to check them out.  I did notice that they have a referral program.  If you join their program you can get some pretty nice kick backs for anyone you refer that extends a line of credit.  This is probably why this REI sent a mass email.  However, he has a solid reputation so I would be surprised if he would be passing along a scam.  Still, it looks fishy.

Jeff Arms · Answer

I also was wondering about this online business called BusinessFundingEngine.

businessfundingengine.com

I see stuff on google talking about them as far back as 2014.  They seem to offer something alot of local banks are not able too.  Which makes it suspect.  Its been a bit, so wondering if anyone has any experience with this company or done any investigating into their dealings?  I can't find them listed on BBB, Although I thought I read somewhere they are suppose to be with A+ rating.

Has that to good to be true feeling...

Emma Watson · Answer

There are a lot of capital solutions available to small businesses. I recently read a blog post on this called “Startup Business Loans”.

There are 5 different types of loans available to small businesses, each with their own qualifications. These loans are:

1. Online lending

2. Factoring

3. SBA loans

4. Peer to Peer Lending

5. Community Banks

For more information, read blog at https://merchcash.com/resources/post/startup-business-loans/

Belinda Li · Answer

Hi @Michaelbadin

Wondering if you ever discovered any information about business funding engine? I too am trying to put together some working capital and came across this site through the SBA. Thanks in advance!

Belinda Li

Cameron Skinner · Answer

Oorah! @Michael Badin, I would stick with your home equity line, or try to find a local credit union to give you a signature line of credit.  I think your instincts may be correct that company looks like one of those that want a big up front fee or just a high interest credit card with a cash advance.  Good luck growing your business.