FAQs
Find answers to frequently asked questions.
Products
What products does Excell Advance offer?
Excell Advance provides both business term loans and business lines of credit. When you apply, you complete a single application and we evaluate which option best matches your business’s funding needs.
What are Excell Advance’s loan amounts and terms?
Our business term loans range up to $400,000, with repayment terms typically up to 24 months. Business lines of credit can be approved for limits up to $200,000. A line of credit is revolving, meaning as you repay your balance, those funds become available again to use.
Is Excell Advance financing unsecured?
Excell Advance offers unsecured business lines of credit. Term loans are secured by a general lien on business assets and backed by a personal guarantee, but we do not require specific collateral, and no asset appraisal is needed.
Application
How do I qualify for Excell Advance financing?
To qualify for funding, your business generally should be in operation for at least one year, have at least $100,000 in annual revenue, have a business checking account, and the owner should have a minimum personal FICO score (e.g., 625 or higher).
Does Excell Advance perform a hard or soft credit inquiry?
When evaluating eligibility, Excell Advance typically performs a soft credit check on the business owner’s personal credit, which does not impact your credit score.
What information do I need to apply?
You’ll usually only need basic business and personal details, such as your business tax ID, recent business bank statements, and owner information. Exact requirements may vary based on product and underwriting.
How does the application process work?
The online application is designed to be fast and simple, often completed in about 10 minutes. After submission, Excell Advance evaluates your business profile and recommends the best fit between a term loan or line of credit.
What industries does Excell Advance work with?
Excell Advance works with hundreds of industries, including retail, healthcare, service providers, and contractors. Certain restricted industries may not be eligible.
Are there rates or fees if I apply?
Loan rates are based on your business’s financial profile and cash flow. Term loans may include origination fees and other charges, which are disclosed in your offer. Applying does not obligate you to accept any funding.
Funding
How quickly can I receive funding from Excell Advance?
Excell Advance delivers decisions quickly after application, and approved funds can be available as soon as the same day, depending on timing and verification.
How does term loan funding work?
Term loan funds are sent via standard bank transfer (ACH) to your business checking account once approved. Depending on timing, it may take up to one business day or more.
What is instant funding?
If approved for a business line of credit and you have a qualifying business debit card, Instant Funding allows you to transfer available line of credit funds within seconds — including nights, weekends, and holidays.
How is Instant Funding different from ACH?
Instant Funding uses the debit card network for rapid transfers that typically arrive immediately or within a short window. ACH transfers are processed through standard banking systems and may take longer.
What kind of debit card is needed for Instant Funding?
To use Instant Funding, you need an active business debit card tied to the business checking account on file with Excell Advance. Personal debit cards are not supported.
Is there a limit on Instant Funding draws?
Yes — typically, there is a per‑day draw limit via Instant Funding. Larger transfers should be made using ACH.
Repayment
How does repayment work?
Excell Advance will automatically withdraw payments from your business bank account on a daily, weekly, or monthly schedule, depending on your approved funding product. You can also monitor your loan or line of credit activity through your online account.
Account
I can’t log in to my Excell Advance account — what should I do?
If you’re having trouble accessing your account, use the “Forgot Password” feature or contact Excell Advance support for assistance. Accounts typically show your current balances and repayment activity.
Where can I see my current balance?
You can view your current term loan or line of credit balance through your Excell Advance online account dashboard.
Can I change my bank information online?
At this time, bank information updates may require support assistance. Contact your loan advisor or account support for help.
Excell Advance has filed a UCC on my business. How do I get it released?
Once your loan is paid off in full, send a written request to Excell Advance Customer Support to release the UCC filing.
What other financing options are available?
Small business owners have many funding options beyond Excell Advance products. Visit educational resources or speak with an advisor to explore alternatives.
Term Loan Customers
How much of my payments go toward principal and interest?
The split between principal and interest varies based on how much you’ve repaid and your loan terms. You can check your statements or contact support for details.
Can I ask about additional payments or relief options?
Yes — Excell Advance loan advisors can help you understand options for extra payments or potential relief programs if offered.
Why did a payment post differently than I expected?
Bank ACH transactions may process a day after initiation. Your account may show activity timing based on bank procedures.
When can I reapply for additional funding?
You may qualify for more funding after a certain amount of repayment or tenure, but eligibility depends on your specific account history and performance. Speak with an advisor to learn more.
Line of Credit Customers
There’s a hold on my line of credit — who should I contact?
Reach out to Excell Advance payment support for help with holds or restrictions on your credit line.
How do I close my line of credit?
To permanently close your line, contact Excell Advance customer support and request account closure.
Why don’t I see Instant Funding available?
Instant Funding applies only to eligible business debit cards. If it’s not appearing, you can contact support to check eligibility.
Why might an Instant Funding transfer fail?
Transfers may fail due to bank limits, debit card changes, or network restrictions. Confirm details with your bank if issues continue.
Why don’t funds show up right away after an Instant Funding draw?
Although most transfers are near‑instant, it can take up to 30 minutes for funds to reflect in your account.
What if my debit card issuer doesn’t support Instant Funding?
Not all banks support push‑to‑debit transfers. Some only support certain debit cards or none at all.
Why am I asked to review my data when registering for Instant Funding?
Make sure your debit card is active, not expired, and that the address you enter matches your bank records.
If the Instant Funding option isn’t there, can I still make a draw?
If Instant Funding isn’t available, you can still use ACH to make draws and access your available credit.