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FAQS

Loan Product FAQs

  • How can BHG Financial get me a loan so fast?
    BHG Financial is a direct lender, able to provide credit decisions and approval in as little as 24 hours and get you funded in as few as 3 days.* We have a highly skilled and dedicated team that facilitates a streamlined funding process built on 20 years of experience.
  • What are your rates and terms?
    Rates start at 7.99%, and we offer extended terms up to 12 years.* Our team will work closely with you on a no-cost, no-obligation proposal. All loan terms will be provided in full detail both verbally and in writing.
  • Is a working capital loan the same as a cash advance, and what can I use the funds for?
    No, a working capital loan and a cash advance are not the same. A working capital loan is issued to finance the operations of a business or company and typically has a defined repayment term. A cash advance is a short-term loan in the form of cash that can be used for any purpose. Cash advances are typically capped at a few hundred dollars, have higher interest rates than normal credit card purchases, and require additional fees. Meanwhile, our working capital loans go up to $250,000* and can be used for various business purposes, including consolidating business debt, covering payroll, buying new equipment, marketing, making upgrades and improvements, and improving cash flow.
  • Are there tax benefits with a BHG Financial loan?
    We recommend that you consult your accountant, but in many cases, you can write off commercial interest for significant tax savings.
  • Can I cancel my loan before I take receipt of the funds?
    Yes. Prior to receiving your funds, you may cancel your loan at any time at no cost to you.
  • Can you have two loans at once with BHG Financial?
    Depending on your credit profile and needs, you may be able to have two loans at once with BHG Financial.
  • Are there any pre-payment penalties?
    We have a very large menu of loan opportunities to offer. Depending on which program best fits your needs, there may or may not be a pre-payment penalty.

Application Process FAQs

BHG Financial FAQs

  • How are you different than my bank or other lenders?

    BHG Financial is a non-bank direct lender. We’re different from traditional lenders and banks in various ways:

    • We cater to professionals of all industries nationwide, funding over $9 billion in loans since 2001
    • We specialize in unsecured lending, which means you don’t have to provide personal collateral
    • We provide personalized financial solutions up to $250,000 in as few as 3 days, and our commercial loans won’t appear on your personal credit*
    • We have a flexible risk assessment process that looks at more than just your credit score
    • We provide premium US-based concierge service 7 days a week
  • Who does BHG Financial provide financing to?
    BHG Financial has provided over $9 billion in loan solutions to professionals across all industries nationwide.
  • How do I know BHG Financial is not a scam?

    We’ve been funding professionals since 2001. See what our customers have to say about their experiences on Trustpilot.

    We’ve also been honored by Inc. Magazine for growth and job creation more than 10 times.

  • Where can I read BHG Financial Reviews to learn about other people’s experiences?

    We’ve worked with tens of thousands of clients since 2001. You can find many reviews on Trustpilot.

  • Is BHG Financial a direct lender?
    Yes. We use our own money to fund loan requests.
  • How does BHG Financial work to prevent Identity Theft?

    BHG Financial is committed to protecting consumer privacy and utilizes multiple identity theft prevention methods. Identity theft hurts everyone, not only the person whose identity is stolen, but financial institutions also lose out on stolen funds. In order to get a loan with BHG Financial, an applicant will have to go through a thorough application and underwriting process, which includes a full identity verification prior to receiving any funds.

    Identity Theft & Fraud remain the fastest growing crimes in the United States. The total cost of identity theft in 2020 was $56 billion, the highest number in recorded history. Identity fraud scams cost victims $43 billion and traditional identity fraud cost victims $13 billion, according to a 2021 study by Javelin Strategy & Research. Financial services companies, like BHG Financial, are also the targets of these schemes. We work diligently to protect our customers, employees, and our firm from the myriad of threats that exist in our fast-paced business environment.

    At BHG Financial, we have invested significantly into building an industry-leading fraud prevention program that delivers on our commitment to protecting your privacy, your information, and your trust in BHG Financial. We work diligently to provide robust and effective verification options for each customer prior to receiving any funds, or opening any of our financial products.

    If you feel you have been the victim of Identity Theft or Identity Fraud, BHG Financial strongly encourages you to reach out to the following companies and government agencies, using these resource sheets:

*Terms subject to credit approval upon completion of application. Loan sizes and interest rates vary and are determined by applicant’s credit profile. Call for complete program details.

IMPORTANT INFORMATION ABOUT ESTABLISHING A NEW CUSTOMER RELATIONSHIP

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies every customer. What this means for you: When you apply for a loan, we will ask for your name, address, date of birth, social security number and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents. If all required documentation is not provided, we may be unable to establish a customer relationship with you.