What Is a BMF New Logic business loan?

While sharing some attributes of a traditional business loan, a BMF New Logic business loan allows the business to choose among different payment methods based on what's best for their business. It is a business loan that stays focused on the business.

Which businesses qualify for a BMF New Logic business loan?

Most businesses might qualify for a BMF New Logic business loan, provided they have been under the same ownership at the same location for at least two years, process at least $5,000 per month in credit and debit receipts and meet other general qualifications. There are specific industries that will not qualify to receive a BMF New Logic business loan, including (but not limited to) borrowers in the adult entertainment, gambling, real estate mortgage or collections industries.

How much can my business get with a BMF New Logic Business Loan?

A qualified business could receive up to $150,000 per location.

How long does the approval process take?

It usually takes 10-14 business days to get approved and financed.

Will you review the owner's credit history?

Yes. As with any loan, the guarantor's credit history will be reviewed as part of the borrower's qualification process. It is important to note however, that unlike traditional loans, with BMF New Logic Business Loans, an owner's damaged credit history is not an automatic disqualifier for the business.

Does the business owner need to pledge personal collateral for a BMF New Logic Business Loan?

No, the business owner does not need to pledge personal collateral for a BMF New Logic business loan.

Will my business need to change processors for a BMF New Logic business loan?

No. If you choose the Weekday Fixed Payment Plan, your credit card processor will not come into play. However, if you select the Processor Powered Payment Plan, payments are made automatically through your credit card processor and your business will need to be using a processor with whom BMF New Logic has an established relationship.

Who would I call with questions about my account?

Customer Support can be reached by phone Monday-Friday from 8:00 A.M. to 5:30 P.M. EST: 1-877-300-8282.

Can I get a start-up Loan?

No. BMF New Logic business loans are for businesses that have been operating under the same ownership for a minimum of two years.

Do I need to process credit cards to get a BMF New Logic business loan?

Yes, credit card processing is a prerequisite of qualification for BMF New Logic business loans.