Who is Height Loan?
Height Loan helps small and medium-sized businesses obtain funding. We strive to be a trusted and committed partner to our customers, and we make the funding experience affordable, simple, and transparent.
How is Height Loan different from other funding providers?
Unlike other funding providers, we cater exclusively to small and medium-sized businesses, which often find it difficult to get traditional financing. Many online funding providers are heavily automated, so you never get to speak to a real person. Height Loan combines Data Science with a human touch, and we work directly with our customers to get the right-sized funding for their unique needs.
How easy is it to prequalify for funding?
Our prequalification process is quick and easy, and businesses can be funded in as little as 48 hours after approval. Take ten minutes to fill out our online form and we will assess your business’s health and respond with the best funding options for your short-term needs and mid-to-long-term goals.
What information do you use to assess my prequalification request?
Height Loan uses a proprietary scoring model to determine your business’s health. The model inputs your credit information, business cash flow, recent bank statements and other data. The assessment is a more holistic and comprehensive measure of business performance than most other models, which primarily rely on your credit score.
Will filling out a prequalification request affect my credit score?
No. The prequalification request is based on a “soft pull” which is only viewable to us, so it does not negatively impact your credit score. Before you receive funding, Height Loan will do a “hard pull” which will appear on your credit profile and may affect your credit score. The effect of a hard pull can vary by person, but the average impact is fewer than five points (credit scores are measured in hundreds of points, generally between 300 and 850).
How does business credit affect funding decisions?
The truth is, business credit affects funding decisions. According to a 2015 report by Nav, small business owners who understand their business credit score are 41% more likely to be accepted when they apply for a business funding. Strong business credit will not guarantee approval, but it does improve your chances and often results in more favorable funding terms.
What does it mean when a funding provider asks for collateral?
Essentially, it is something pledged as security for a contractual obligation that can be taken in the event of default. For example, an auto lender may require the borrower to pledge the vehicle being financed as security for the auto loan. If the borrower defaults, the auto lender may take and sell the vehicle to satisfy all or a portion of the outstanding loan. At Height Loan, we do not require you to pledge collateral.
What is a personal Guaranty?
A personal guaranty is a contractual promise from the owner of the business saying he or she is individually liable for the obligation if the business has trouble paying it back.
If I switch bank accounts, how long will it take for my payments or remittances to come out?
According to the contract terms, you need to provide notice if you plan to switch bank accounts. Once we’ve been notified and the change has been processed, the payments or remittances should start coming out of your new bank account immediately.
I think someone who wasn’t me submitted a request to this website using my name and information. What should I do?
At Height Loan we take identity theft very seriously. Please contact us at firstname.lastname@example.org or call us at (646) 389-3311 and we’ll help you right away. We also recommend that you contact a credit bureau like Experian to add a fraud alert message to your credit report. Experian is one of our trusted partners and we would be happy to help you navigate through the process. To learn more about Cred’s security policies, visit https://www.heightloan.com/privacy/.
My loan or merchant cash advance was satisfied, but I believe some extra charges came through. What should I do?
We’re sorry for any inconvenience. It can take up to five business days for an account to settle and if we take any additional payments or remittances during that time, we will process a refund. We process refunds each Friday and you should receive them early the following week.