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Frequently Asked Questions
1. Are there any upfront fees?
There are no upfront fees by Wrice Financial. However, it is possible that the lender may have their own fees before funding.
2. How many points do you charge?
We charge between 1-3 points depending on the type and size of the loan.
3. Are you a direct lender?
We are not a direct lender. We work with you to find the best lender appropriate for your business needs.
4. What documents will I need for final approval?
Depending on the type of loan, documents you may need can include (but not limited to): Credit reports, Bank statements, Tax returns, & Appraisals.
5. Is there a minimum FICO score?
Depending on the type of loan, amount of revenue, and collateral used; minimum score will vary. Some lenders will go as low as 550. But for the best terms and approval rating, 650+ is a more ideal number.
6. What are the interest rates on loans?
Interest rates vary based on the product, type of financing, and the borrower risk as determined by the lender.
7. Do you check my credit?
We do not pull your credit at any time. We use the report provided by you (the borrower) for pre-qualification purposes. Once you have accepted an offer, the lender will do a hard inquiry for final approval.