
Pros
Quick funding for low-credit borrowers: Fora Financial approves loans for credit scores as low as 570, with decisions in around 4 hours and funds available within 24-72 hours
High maximum loan amount: Businesses can borrow up to $1.5 million,
Early payoff discount available: Fora Financial offers a discount for prepaying loans
Cons
Expensive origination fee: Fora Financial charges an origination fee of 2.5% for term loans and 3% for revenue advances
Factor rate pricing model: The use of factor rates instead of traditional interest rates makes it difficult to compare Fora Financial's costs
Short repayment terms: With a maximum term of 18 months
