Small Business Loans and Lines of Credit

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Business Loans and Lines FAQ

Get answers to your questions.

As a small business owner, you need working capital to grow and succeed in your business.  Financing can help you meet both your short- and longer-term goals, from seasonal business expenses to capital improvements and business expansion. That’s why Apple Bank has teamed up with Fundation, a leading small business lending provider, to offer term loans up to $500,000 and lines of credit up to $150,000.* Fundation offers competitive rates, flexible loan terms and amounts, an easy online application, fast decisioning*, quick funding, and a simple repayment process with no prepayment penalties.

Below are answers to frequently asked questions about the program.


Who is Fundation, and what is Apple Bank’s relationship with Fundation?

Fundation is a leading small business term loan and line of credit provider.  Apple Bank and Fundation are not affiliates, but have teamed up to provide a seamless small business financing experience to help our customers meet their business goals.

How can I use a small business loan or line of credit to grow my business?
What is the difference between a small business term loan, and a small business line of credit? How do I know which is best for my business needs?
How do I apply for a Fundation small business loan or line of credit?
Does Fundation have minimum requirements to apply for a small business loan or line of credit?
Is there a maximum loan or line of credit amount?
Does Fundation check the Secretary of State’s (SOS) website to confirm the business' registration?
Will the service be available via mobile application?


What if I apply for the wrong product?
In the event that you apply for the wrong product, speak with a Fundation Customer Relationship Manager (CRM) at 1-888-722-3134 immediately. The Fundation CRM will note the application change and assist with next steps. 
Do I need to supply my business bank account statements?
If I apply for a loan or LOC for $50,000, but would otherwise be approved for $100,000, will I be notified and offered the $100,000?
Will there be counteroffers? If I originally applied for $100,000, will I be offered less if I do not qualify for the $100,000?

Fees, Rates and Payments

What is the origination fee for a term loan?
There is an origination fee of 2% of the loan amount.
For a Fundation Line of Credit (LOC), is there a minimum draw amount or draw fees?
Does Fundation have a prepayment penalty?

Customer Service

How can I contact a Fundation representative?
Call 1-888-722-3134 to speak with a Fundation Customer Relationship Manager (CRM) Monday through Friday from 8:00 am-6:00 pm ET, or e-mail at any time. A CRM will respond to your email during regular business hours.
How do I access the Fundation customer portal?
How do I receive the loan or LOC offer terms after application approval?
Once I am approved for a Fundation Line of Credit, how do I access the LOC?
*Apple Bank and Fundation Group LLC (“Fundation”) have teamed up to provide improved and expanded business loan services and products; however, Apple Bank and Fundation are not affiliates. Fundation will make its own, independent credit decisions. Certain types and sizes of unsecured business loans and lines of credit can be approved and funded by Fundation based upon the information you provide in the application. All loans and lines of credit are subject to credit approval.