Lender review
Everest Business Funding Business Loans, Reviewed
A revenue based funder built for speed, with a 500 credit score floor and daily repayment priced through factor rates.
Lender review
A revenue based funder built for speed, with a 500 credit score floor and daily repayment priced through factor rates.
Everest Business Funding underwrites almost entirely on your bank deposits rather than your credit score, which is how it can fund businesses with a 500 FICO and as little as 6 months in business. That accessibility is genuine, but so is the cost: factor rates between roughly 1.28 and 1.54 translate into some of the higher effective rates on this network, collected through daily ACH debits that need to be weighed against your actual cash flow before signing.
Everest Business Funding funds two revenue based products, a merchant cash advance and a revenue based business loan, both underwritten primarily on your bank deposits rather than your credit score.
What defines Everest Business Funding’s approach is speed over cost. Approval can land within a day of a completed application, and most businesses qualify for 40 to 140 percent of their average monthly deposits, but that speed and accessibility comes priced as a factor rate rather than an interest rate, which is worth converting to a real dollar cost before you commit.
Prequalify in minutes without affecting your credit score.
Exact rates and loan amounts vary by product and by applicant; see the product breakdown below for details on each one.
Everest Business Funding funds two revenue based products directly, both evaluated primarily on your business’s cash flow.
| Merchant cash advance | An advance against future receivables from $5,000 up to $2 million, repaid through daily ACH debits or a percentage of card sales at a factor rate typically between 1.28 and 1.54. |
| Revenue based business loan | Financing sized to roughly 40 to 140 percent of your average monthly deposits, repaid on a similar daily schedule with the total cost also expressed as a factor rate. |
Rate, term, and amount figures are set per applicant during underwriting.
Everest Business Funding is built around accessibility, so its bar is lower than most lenders on this network, with cost as the tradeoff.
Everest works with credit scores as low as 500, and credit history plays a smaller role in the decision than your deposit history.
Expect a minimum of around 6 months of operating history, verified through recent bank statements.
Everest generally looks for at least $10,000 in gross monthly sales, deposited into an active business bank account with no recent defaults.
Because pricing is a factor rate rather than an APR, ask for the total repayment amount and the exact daily or weekly debit before signing, then compare that dollar figure against any other offer you have.
The application is designed to be quick, often requiring just a one page form and a few months of bank statements.
Submit the one page application along with your recent bank statements.
Everest evaluates your deposit history and cash flow rather than leading with your credit score.
Once approved and documents are verified, funds often arrive within 24 to 48 hours.
A 500 credit score minimum accepts businesses that most lenders on this network would decline outright.
Funding often lands within 24 to 48 hours of a completed application.
Deposit history and daily revenue carry more weight than your personal credit report.
A one page form and 4 months of bank statements is often all that is required.
Businesses with consistent revenue can access up to $2 million.
Factor rates between roughly 1.28 and 1.54 translate into some of the higher effective costs on this network, and should be weighed carefully against lower cost alternatives.
Automatic daily ACH debits or card sales deductions can be difficult for businesses with thin or seasonal margins.
Reporting suggests renewal terms are not always clearly discounted, so ask directly before renewing an advance.
Yes. Everest Business Funding directly funds both its merchant cash advance and its revenue based business loan.
Everest works with credit scores as low as 500, leaning primarily on your business’s deposit history rather than your credit report.
Funding often arrives within 24 to 48 hours of a completed, verified application.
Everest offers a merchant cash advance and a revenue based business loan, both funded up to $2 million for businesses with strong deposits.
Everest generally looks for at least 6 months in business, at least $10,000 in monthly gross sales, and a personal credit score of 500 or higher.
Everest prices its products with factor rates typically between 1.28 and 1.54 rather than a published APR. Ask for the total repayment amount before signing so you can compare it against other offers.
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