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Frequently Asked Questions
Typically, we only require basic information about yourself and your business. Depending on your loan
amount, we may also ask for:
1. Business Tax ID
2. Last 3 months of business bank statements
3. Social Security number of business owner(s)
4. Driver’s license number and state of issue
Logic advance can deliver decisions in minutes and funding in as fast as 24 hours.
Logic advance loans are not unsecured. However, we do not require any specific amount, type or value of collateral and no appraisal or specific assets are required. The loans are secured by a general lien on the assets of the business and backed by a personal guarantee. We do not take personal assets of the guarantors as collateral.
Our term loans range from $10,000 – $500,000 over 12 – 36 month terms. Custom terms may be available to some clients please contact us if you are in need of a custom option.
The business loans from our lending partners can be used for any business purpose. It is up to you to decide how you want to use the money. These are some of the most common ways that customers have
used their loans:
- Increase cash flow
- Pay expenses
- Purchase stock
- Hire more employees
- Upgrade equipment
- Purchase a business
- Buy real estate
Loans are granted to US businesses across all for-profit industries, including the following:
- Real Estate
- Retail & Fashion
- Hair & Beauty
- Trade & Labor
- Cleaning Services
- Many more industries
There is no charge to apply for a loan through Become and applications are obligation-free.
Logic Advance has a variety of loan options to suit your needs. To qualify for an Logic Advance loan, your business should have the following characteristics:
1. Minimum 1 year in business
2. Minimum of $100,000 in annual revenue
3. Minimum 500 FICO score of the business owner