Frequently Asked Questions

How much does it cost to apply?

Our application process is FREE for ALL of our lending products. There are no upfront fees.

How are you compensated for your services?

Our lenders pay us directly if you are approved and funded. On commercial lending approvals, our fee is typically built into the loan.

Why should I use Diversified Financial Network?

We utilize a network of lenders that provide quick and effective alternative financing for businesses in need of cash. We offer a less arduous application process, quick approvals, and a personal touch. We believe in building relationships for the long haul. Ours is not a one-time transaction model. Rather, our goal is to work with you as your needs change. We'll grow as you grow.

Is my information going to be sold to companies who will call/email me non stop?

Not at all, unlike other companies out there who simply sell your information to anyone and everyone for months, even years. We will send your information to no more than 3 (three) lenders in our network at the time you submit your information.

What if I get denied because of my credit will you still help me?

We can refer you to our sister company who can assist you with your credit needs.

Are you a direct lender?

No. We have partnered with a select group of highly reputable lending institutions. Many of our clients chose to do business with us because of our A+ accredited standing with the Better Business Bureau, and will work effortlessly to get the job done. We help clients get their loans approved and closed when other banks and lenders could not.

Will my credit be pulled after I complete this form?

No. Your credit will only be pulled by the lender. We simply facilitate the paperwork. Our company will only request to view your online credit reporting to ensure we are pairing you with the right lending situation.

How much money can I borrow?

Loan amounts vary. Amounts can range from $5,000 to $30,000,000.

Is the application process difficult?

Not at all. We employ real people to help make the application process as simple as possible. After receiving your application, we leverage our network of lenders to find the RIGHT lender for the loan you need.

How does the loan program work?

Our loan programs are tailored to your particular business. There is no "one-size-fits-all" financial product. Our network of lenders offer MANY forms of financing. Call us at 1-866-513-6665 and a dedicated Lending Advisor will review your options today!

If needed, what would be considered collateral?

The best form of collateral is real estate. If you own your home you will be required to use it to secure the loan. Real estate located outside the U.S. cannot be used. Business assets, autos, inventory and whatever is purchased with loan proceeds can also be used to secure the loan.

If I have no collateral, can I still qualify for a loan?

There are some credit based loans under $50,000 that do not require collateral. If you are looking for a larger loan and are a start up business, you generally will need some collateral. Weak collateral can be mitigated by a co-signer willing to guarantee the loan. Existing businesses with positive cash flow may be eligible for a loan without collateral or co-signer.

What are the typical loan terms?

Business loans range from 3 months to 7 years, and commercial loans from 1 year to 30 years.

If I have no experience in the industry, can I still qualify for a loan?

Yes. There are some credit-based products that do not require the owner of the business to experience in the industry. If you have identified a manager to work in your business who has at least two years of experience in the industry, you may still be eligible for a loan.

What fees are associated with the loan products?

Fees are loan specific and are discussed in further detail in the loan package from the lender. There are no fees unless you get funded.

Is a line of credit better than a loan?

A line of credit can be much better during the initial stages. The payments are lower and it gives the borrower more flexibility. Monthly payments on lines of credit are usually 1% to 2% of the balance. Monthly payments on a loan will vary depending on the terms lasting from 3 to 84 months.

Do I need to be currently employed to get a business loan?

Though current income is one of the factors contributing to getting approved, some lenders will not require you to be currently employed. Some lenders will dedicate their focus more upon the business a person is looking to start or buy.

Do I have to put my home up for collateral as part of the financing?

If you have equity in your home, then it can be attached; but, it is not warranted for your home to be contributed for collateral. Lenders are looking for veritable cash flow and not collateral necessarily.

For questions not listed above, please speak to your Lending Advisor for more details.