Fundomate is a financial technology company that provides real-time online banking tools and hassle-free financing solutions for small businesses.
Why do businesses use Fundomate?
Businesses use Fundomate to access faster and more flexible financing options to fund their ongoing operations and growth.
Is Fundomate a real bank?
Fundomate is a financial technology company and not a bank. Banking services are provided by Blue Ridge Bank N.A.; Member FDIC. Our Visa Debit Card is issued by Blue Ridge Bank N.A. pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa debit cards are accepted.
Will my credit be impacted by applying?
Applying will not affect your credit score.
What information do I need to apply?
All you need to apply is basic information about you, your business and your bank account details.
How can I contact Fundomate?
We’re always here to help. Give us a call at 310-734-5955 or send us an email at info@fundomate.com
Business Funding
What are the minimum requirements?
Your business must be over 12 months old and average a minimum of $10,000 in gross monthly revenue over the last three months to qualify for one of our programs. You’ll also need a personal FICO credit score that’s above 600.
How do I make repayments?
Payments are withdrawn from your business checking account daily via ACH. You can choose to repay at your own pace with a percentage of your daily sales or make fixed daily payments.
What information do I need to apply?
All you need to apply is basic information about you, your business and your bank account details.
What is the repayment period?
You can keep the funds for up to 18 months. However, the terms you receive depend on your eligibility.
Do I need collateral?
You are not required to provide any collateral. We simply consider your business’s overall performance and cash flow.
How is my rate determined?
Each application is considered based on your bank transactions, cash flow, and partially on your credit. Your actual rate is calculated using our proprietary algorithm, which takes into consideration several factors.
How quickly can I get my funding?
Funds are typically deposited into your account within 24 hours.