Question 1

WHO IS PIVOT?

Accepted Answer

PIVOT is a leading provider of working capital to small businesses nationwide. Since 2019, more than 3,000 small businesses have trusted us to provide them with fast, flexible, and reliable funding to fuel their success.

Question 2

WHAT IS A MERCHANT CASH ADVANCE?

Accepted Answer

A merchant cash advance is a financing arrangement that will provide you upfront capital in exchange for a fixed amount of your future revenue.

Question 3

WHAT ARE THE MINIMUM ELIGIBILITY REQUIREMENTS TO QUALIFY FOR FUNDING FROM PIVOT?

Accepted Answer

To qualify with PIVOT, you must be a U.S. based business with:
6 months minimum time in business
At least $5,000 in monthly sales
No minimum FICO score

Question 4

WHAT INFORMATION DO YOU NEED FROM ME TO APPLY?

Accepted Answer

PIVOT has one of the simplest application processes in the industry because we only ask for what we absolutely need:
Owner’s name and social security number (SSN)
Business name and Tax ID or EIN
Three months of your most recent bank statements

Question 5

WILL APPLYING WITH PIVOT IMPACT MY CREDIT SCORE?

Accepted Answer

No. We only perform a soft credit inquiry which does not impact your credit score.

Question 6

ARE THERE ANY INDUSTRIES THAT PIVOT WILL NOT FUND?

Accepted Answer

We provide financing to more than 500 industry segments, including higher-risk industries such as trucking and construction. There are some industries we do not service.

Question 7

HOW LONG WILL IT TAKE ME TO COMPLETE MY APPLICATION?

Accepted Answer

Applying with PIVOT takes most applicants less than 2 minutes.

Question 8

WHAT IF I ALREADY HAVE A TRADITIONAL BANK LOAN?

Accepted Answer

Our product is designed to complement traditional financing. As long as you meet our requirements, we can still provide you with financing without affecting your other obligations.

Question 9

HOW DO I SUBMIT PAYMENTS ON MY ADVANCE?

Accepted Answer

As part of receiving funding, you will authorize PIVOT to debit your bank account directly according to the amount and frequency specified in your financing agreement.

Question 10

WHAT IF I WANT TO PAY THE FULL AMOUNT EARLY?

Accepted Answer

You can pay off your account in full at any time with no extra charges. In some instances, PIVOT may even offer a discount for early payment in full, though certain restrictions may apply. It is recommended that you review your merchant agreement or speak directly with your account executive for details on your prepayment options.

Question 11

WHEN AM I ELIGIBLE FOR RENEWAL?

Accepted Answer

You will be eligible for a renewal once you have repaid between 40% and 60% of your advance, subject to satisfactory payment performance.

Question 12

DO YOU WITHDRAW PAYMENTS ON HOLIDAYS?

Accepted Answer

We only withdraw payments from your account on days when banks are open, so you will not be debited on any U.S. bank holidays.

Question 13

IF YOU DON’T WITHDRAW A PAYMENT ONE DAY, WILL YOU WITHDRAW TWO PAYMENTS THE NEXT DAY?

Accepted Answer

We will never double debit your account after a holiday.

Question 14

HOW DO I REQUEST A PAYOFF LETTER?

Accepted Answer

Please email us at admin@pivotfundinggroup.com or call us at ‪(718) 569-8007‬ to request a payoff letter.

FAQ'S