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.
*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.


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.

You can use a small business loan or line of credit to:
  • Better manage cash flow;
  • Purchase equipment;
  • Make capital improvements;
  • Purchase inventory; 
  • Expand business offerings and locations, and more.
With a term loan, you borrow a specific amount of money and receive the full amount borrowed as a lump sum. You pay the loan back over a specific time period, or “term” at a fixed rate that is locked in for the life of your loan.  Generally, term loans are better suited for long-term investments, such as capital improvements, equipment purchases, or business expansion. 

A business line of credit (LOC) provides access to a stated financing amount, but you do not make payments or pay any interest until you use or “draw down” the funds. As you pay back funds used, your LOC is replenished and you can continue to draw funds without reapplying (similar to a credit card with a stated limit). Depending on market conditions, late payments, or exceeding your borrowing limit, your LOC interest rate can fluctuate. Generally, lines of credit assist with shorter-term working capital needs, seasonal business expenses, inventory replenishment, or temporary cash flow. 

A Fundation Customer Relationship Manager can assist you in determining the financial product that best meets your business needs.
You may apply in two ways:
  1. Visit, OR
  2. Visit a convenient Apple Bank branch, where an Apple banker will assist you in applying for your loan or line of credit.

If you have questions about Fundation, you may call Fundation directly at 1-888-722-3134 and a Customer Relationship Manager will assist you. Or, email Fundation at
Yes. Basic requirements include:
  1. Minimum FICO score of > 600; 
  2. Minimum of one year in business; 
  3. Minimum annual sales of $50,000 (for requests less than or equal to $100,000), and
  4. Good recent payment history.
The maximum line of credit is $150,000, and the maximum term loan is $500,000.
Yes, Fundation checks the SOS website through the application review process.  If an applicant is not registered or not in good standing, the application may be delayed or denied.
No, there is no separate mobile application at this time; however, the website is optimized for mobile device use. 


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. 
Yes, Fundation requires small businesses applying for a term loan or line of credit to supply business account statements.
No.  You will be approved only for up to the applied-for amount (in this example, $50,000).  During the application process, you can request consideration for a higher loan or line amount.
Counteroffers for lower amounts may be offered, based on Fundation’s credit evaluation.

Fees, Rates and Payments

There is an origination fee of 2% of the loan amount.
Yes, there is a minimum draw of $1,000.00 for each draw.  There is a 2% draw fee (of the draw amount), each time you make a draw.
No.  You may pay off your loan or line at any time, without any prepayment penalty.

Customer Service

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.
Fundation’s customer portal access will be provided during the application process.  Information will be sent to the e-mail address provided during application.
Offers are delivered both over the phone and via e-mail. A Fundation Customer Relationship Manager is always available to help answer questions and explain your offer.
Once you accept an offer, you will receive a welcome email outlining next steps. This email will also include a link to guide online account setup, which you access to initiate draws, make payments, and check your available balance.