Bonanza Lending

Bonanza Launches Lending Platform for Sellers

Less than two months following his acquisition of Bonanza, CEO Quincy Faison is fulfilling one of his initial commitments to assist sellers in expanding their presence on the platform by introducing a new service that provides working capital loans.

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“Complete your application in as little as 15 minutes. Review your options, choose the right offer, and you can get the funds deposited as fast as 24 hours after your approval,” the newly launched lending site says.

To be eligible for a loan, the business must meet specific criteria, including a minimum average revenue of $4,000 on Bonanza, a minimum of six months of active business operation, and a credit score of at least 550 for the business owner.

Bonanza offers a wide range of financing options, with loans up to $1 million and varying terms based on the need for capital. Most loans will likely fall into the 6 to 36 months option.

There is no fee to apply, and the initial application for a loan will not impact the business owner’s credit score.

After submitting the loan application, an advisor team will assess it, and a dedicated advisor will lead the applicant through subsequent steps, including any credit checks or extra requirements that may be necessary to complete and fund the loan.

If approved, sellers can receive their funds in as little as 24 hours into their checking account to help them scale their business. Learn more here about Bonanza Lending.

Bonanza Lending is powered by Lendflow, a lending marketplace that offers a variety of loans to applicants based on their business needs.

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