FAQ

FAQ

Do you have a few queries before applying for your our Small Business Loan or our Revolving Line of Credit? RIG Finserv is here to assist you at every stage of the process. Below, you'll discover responses to the most frequently asked questions. If you don't find the information you seek, please reach out to us at info@rigfinserv.com, and we'll be happy to provide personalized answers to your small business loan and Revolving Line of Credit queries.

FAQ

Do you have a few queries before applying for your our Small Business Loan or our Revolving Line of Credit? RIG Finserv is here to assist you at every stage of the process. Below, you'll discover responses to the most frequently asked questions. If you don't find the information you seek, please reach out to us at info@rigfinserv.com, and we'll be happy to provide personalized answers to your small business loan and Revolving Line of Credit queries.

What is business term loan?

A micro loan is a small business loan of up to $250,000 that allows a business owner to make small daily fixed payments within a 3-month, 6-month, 9-month, or 12-month term without any accumulating interest.

Why should I choose a term loan?

A term loan is perfect for a business owner who needs to purchase inventory or equipment quickly without having the commitment of a long-term loan and large monthly payment.

Is it really free to apply with RIG Finserv?

Yes – it is truly free. We promise there is no catch.

Who gets approval for a term loan?

In order to be considered for a term loan, you must be in business for 6 months, have over $10,000 monthly sales, and your business must operate within Canada and the USA. Note that specific terms change with the lender.

Who is RIG Finserv?

RIG Finserv is a marketing company working with Financing Partners, Lenders, and Banks. For any questions, drop an email to info@rigfinserv.com

How long does the application process take for a term loan?

The application process takes 5 minutes, approval in 24 hours, and the funds are in your bank within 48 hours.

What is a Revolving Line of Credit?

A Revolving Line of Credit provides ongoing access to funds, allowing your business to draw and repay as needed, with interest calculated only on the amount utilized.

Why should I choose a Revolving Line of Credit?

A Revolving Line of Credit is ideal for managing fluctuating cash flow, handling unexpected expenses, and providing flexibility for your business's short-term financial needs.

Is it really free to apply for a Revolving Line of Credit with RIG Finserv?

Yes – the application is completely free with no hidden charges. We're committed to transparency in our financing process.

Who gets approval for a Revolving Line of Credit?

To be considered for a Revolving Line of Credit, your business should be operational for at least 6 months, have a minimum monthly sales threshold, and operate within the regions of Canada and the USA. Approval criteria may vary among lenders.

How long does the application process for a Revolving Line of Credit take?

The application process takes approximately 5 minutes, with approval within 24 hours. Once approved, the funds will be deposited into your bank account within 48 hours.