You’ve got questions, we’ve got answers.
We want to make small business financing as easy to understand as possible. Here, you can find answers to some of our most frequently asked questions.
Financing from Moneyjet
Moneyjet provides small businesses with fast and easy access to short-term financing. Upon approval for an account, you will be provided with the Maximum Financing Amount for which your business is eligible, up to $50,0002. You will be able to select key terms of your initial financing, including frequency of repayment, duration (up to 12 months), and funding amount. Funds will be deposited into your primary business bank account as soon as next business day3.
You can request additional funding anytime, so long as the total amount of your financing does not exceed the unused portion of your Maximum Financing Amount. Access your Moneyjet account anytime by visiting the customer portal at www.moneyjet.com. Once logged in, you can review your account history, manage existing financing, make a payment, or request additional funding.
In most states, Moneyjet offers business loans that can help fund day-to-day operations, equipment purchases, or new business opportunities. The loan is repaid through a series of equal installments debited from your bank account. Each installment is applied to the repayment of principal plus a fee. Payment is debited from your primary business bank account each period as selected by you (monthly, bi-weekly, or weekly).
In some states, Moneyjet offers sales-based financing, whereby Moneyjet provides capital as an advance on future revenue. Each remittance is debited from your primary business bank account in the same amount each period as selected by you (monthly, bi-weekly, or weekly).
At this time, Moneyjet is not available in New York State. To determine which type of financing is offered in the state in which your business is headquartered, please click here.
To be eligible for an account, you need to have been in business for at least one year and generate minimum annual revenue of $125,000. In addition, you will need a business bank account, and the owner of your business must be age 18 or older4.
Moneyjet financing is available to businesses across most industries. Excluded industries include, but are not limited to, nonprofit organizations, weapons manufacturers and dealers, gambling businesses, smoke shops, cannabis purveyors and pornography. If you’re not sure if your business is eligible, feel free to email us at info@moneyjet.com.
Currently, Moneyjet offers financing ranging from $6,000 – $50,0002. Upon approval for an account, you will be provided with the Maximum Financing Amount for which your business is eligible. In most states, the minimum individual financing transaction is $6,000. You can request additional funding, so long as the total of your financing that is outstanding does not exceed the Maximum Funding Amount.
Moneyjet is committed to presenting your financing options using clear, straightforward language and tools that are simple and easy to comprehend. You can choose the duration of financing, frequency of debiting from your primary business bank account, and financing amount that are right for your business.
If approved, your business can receive funds as fast as next business day3.
Moneyjet business loans require a personal guaranty or an unconditional guarantee of payment.
Moneyjet sales-based financing requires a Personal Performance Guaranty which is a personal guaranty that the business will not breach certain performance obligations.
Application
Moneyjet’s application process is completely digital. Apply from your computer, smartphone or tablet device and receive a decision within minutes1. At the present time, Moneyjet is only accepting applications via referrals.
Moneyjet asks for your personal as well as business information. Personal information includes your name, email, phone number, and Social Security Number. Business information includes your business address, phone number, Tax ID/EIN and annual revenue. You will also need to provide online access to your primary business bank account so that we can verify your business’s annual revenue.
Yes. Safeguarding your personal and business information is our #1 priority at Moneyjet. We utilize state-of-the-art, advanced encryption technologies and adhere to industry-standard security protocols. We also conduct periodic security assessments to reinforce the safety of our entire systems infrastructure.
Moneyjet uses your SSN to confirm your identity and review your credit history. Applying for Moneyjet has no impact on your credit score.
Your credit score helps us determine your eligibility for financing as well as your financing terms. Applying for Moneyjet does not impact your credit score.
No.
In most instances, you will receive a decision online within minutes1. Occasionally, the process may take somewhat longer.
No.
Fees & Payments
For a Moneyjet business loan:
- The maximum amount of funds you are eligible to borrow is known as the Maximum Loan Amount.
- The amount you choose to borrow at any point is referred to as your loan amount or principal.
- Moneyjet will deduct an origination fee before depositing funds into your primary business bank account. The amount deposited consists of the principal amount less the origination fee.
- Moneyjet will debit the same amount (known as an installment payment) from your primary business bank account at the frequency of your choosing (monthly, bi-weekly or weekly) until the entire principal has been repaid. Each installment payment is applied to the repayment of principal plus a fee.
For Moneyjet sales-based financing:
- Sales-based financing entails the purchase by Moneyjet of your business’s future receivables.
- In return, you agree to deliver funds derived from future revenue to Moneyjet on a periodic basis (monthly, bi-weekly or weekly) as selected by you.
- The total amount of funds you will need to deliver is determined at the time Moneyjet purchases your future receivables.
- Moneyjet will deduct an origination fee before depositing funds into your primary business bank account. The amount deposited is equal to the amount of receivables you are financing, less the origination fee.
Moneyjet will debit the same amount from your primary business bank account at the frequency of your choosing (monthly, bi-weekly or weekly) until you have satisfied the terms of your financing. You can also make a one-time payment or pay-off your Moneyjet financing by visiting the Moneyjet customer portal at www.moneyjet.com.
The date of the first debit is determined based on the date on which funds are disbursed into your primary business bank account:
- Monthly frequency: Your first debit will occur on the same date of the following calendar month, and on the same date of each successive month thereafter.
- Bi-weekly frequency: Your first debit will occur in 14 days following the disbursement of funds, with successive debits occurring every 14 days.
- Weekly frequency: Your first debit will occur in 7 days following the disbursement of funds, with successive debits occurring every 7 days.
- In the event a debit date falls on a holiday, your account will be debited the following business day3.
A fee may be charged for late payment, insufficient funds, or loan modification.
Yes. You can satisfy your financial obligation anytime, with no prepayment penalties.
No.
My Account
Consult the Moneyjet customer portal anytime to check account details including amount outstanding, account status, next debit date, and additional available financing. If you’re already a customer, you can log in here.
Moneyjet does not mail paper statements. Consult the Moneyjet customer portal anytime to check account details including amount outstanding, account status, next debit date, and additional available financing.
If you would like to discuss a change to your debit schedule, please call us at (888)-633-3062 or email us at support@moneyjet.com. Our business hours are Monday through Friday from 8am to 8pm EST.
Moneyjet does not report to consumer credit agencies. Moneyjet will report to business credit agencies.
If your business is experiencing financial distress, please call us at (888) 633-3062 or email us at support@moneyjet.com. Our business hours are Monday through Friday from 8am to 8pm EST.
You can download a copy of your Moneyjet financing agreement anytime by logging into the customer portal at www.moneyjet.com.
In the event you suspect fraud, please call us at (888) 633-3062 or email us at support@moneyjet.com. Our business hours are Monday through Friday from 8am to 8pm EST. Please contact us as soon as possible.
About Moneyjet
Moneyjet is part of National Funding, a company dedicated to empowering small and medium-sized businesses with affordable short-term financing for 25 years.
When you work with Moneyjet, your business benefits from our commitment to speed, flexibility, fairness and transparency. Our streamlined application process is designed to unlock the financing you need to fuel your business’s growth.
Drop us a line at info@moneyjet.com with any questions. Or give us a call at (888) 633-3062.