Frequently Asked Questions

At Glove Catalyst, we've streamlined our approval process to be as efficient as possible. Most applicants receive a decision within 24 hours of submitting a complete application. Once approved, funds are typically deposited into your account within 1-3 business days.

To apply for a business loan with Glove Catalyst, you'll need to provide:

• Business registration documents
• Last 6 months of business bank statements
• Previous year's tax returns (business and personal)
• Valid ID of business owner(s)
• Proof of business address

Depending on the loan type and amount, additional documentation may be required.

Our interest rates typically range from 6% to 15% APR, depending on various factors including your business's credit history, time in business, and annual revenue. Each loan offer is personalized based on your specific business profile and needs.

To qualify for a Glove Catalyst business loan, your business should meet these basic criteria:

• At least 6 months in business
• Minimum monthly revenue of $5,000
• Business owner(s) with credit score of 600+
• No active bankruptcies

Requirements may vary by loan type, and we evaluate each application individually.

We offer business loans ranging from $10,000 to $500,000, with terms from 3 months to 5 years depending on your business needs and the loan type.

No, Glove Catalyst does not charge any prepayment penalties. You're free to pay off your loan early, which can help you save on interest costs.

Our application process is simple and straightforward:

1. Complete our online application (takes about 10-15 minutes)
2. Upload required documents
3. Receive a decision (typically within 24 hours)
4. Review and accept your loan offer
5. Receive funds in your business bank account

Yes, we consider applications from businesses that have been operating for as little as 6 months. However, businesses with longer operating histories may qualify for better rates and higher loan amounts.

We provide funding to a wide range of businesses across most industries. This includes retail, restaurants, professional services, healthcare, manufacturing, construction, and many others. Some restrictions may apply to certain industries due to regulatory requirements.

Loan payments are automatically deducted from your business bank account on a predetermined schedule (weekly, bi-weekly, or monthly). You'll also have access to an online dashboard where you can view your payment history and upcoming payments.