The Business Backer Review

ByTop10 StaffFeb. 19, 2019

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In a Nutshell

The Business Backer is best known for its FlexFund, a combination of a term loan and line of credit. Its small business expertise and financing solutions allow business owners to find the right financing fit.


  • FlexFund business funding
  • Limited liability guarantee if your business closes
  • Excellent customer service


  • Many options can be overwhelming
  • Not for businesses that are less than 1 year old

The Business Backer at a Glance 

Loan types
Business loans, lines of credit, merchant cash advances
Loan amountUp to $200,000
Repayment terms1 to 24 months
Varies between products
Minimum credit score650+
Annual revenue required$350,000
Best for
Businesses needing working capital quickly


The Business Backer provides small businesses with numerous ways of getting quick funding. Its agents evaluate your business’s needs to match you with the right product. The Business Backer’s core product is its own FlexFund, a unique cross between a small business loan and a line of credit. Its partners offer numerous other funding options, including: business loans, lines of credit, and cash advances, if the FlexFund isn't right for you. 

Best For?

This lender is best for small businesses that have been in operation for at least a year, generate revenues of about $350,000 per year, and need help with managing cashflow. The Business Backer works with applicants to determine their suitability for its own FlexFund or for the many other funding options offered by its partners. This makes it a good choice for businesses that need funding but aren’t yet sure exactly what type of funding is best for them. 

Loan Features

FlexFund is like a mix between a small business term loan and a line of credit, helping businesses to manage cash flow and seasonal revenues. 

Features include:

  • Funding as quickly as 2 business days after approval
  • Borrowers may apply for additional funds 60 or 120 days after initial funding
  • If your revenues change substantially, FlexFund offers protection by letting you adjust your payment amount to manage cash flow
  • View and download statements and transactions or request additional funding through your secure online account
  • If your business closes without violating the terms of your agreement with The Business Backer, you won’t be held personally liable for the remaining balance

The Business Backer takes applications for several other kinds of loans as well. 

The Application Process

Just 3 steps are required to apply for FlexFund or other types of business funding:

  • Complete the online application so see if you qualify right away. Your credit score won’t be impacted at this stage.
  • Provide 3 recent business bank statements to see a list of funding options, including FlexFund and options from The Business Backer’s partners.
  • Sign your contract to receive funds in 24 to 48 hours, depending on which funding option you selected.

Businesses must meet the following requirements to qualify for funding products from The Business Backer and partners:

  • Business must have been in operation for at least 1 year.
  • Annual revenues should exceed $350,000 per year for FlexFund or $50,000 for other products.
  • Minimum credit score of 650 for FlexFund.
  • The applicant must be authorized to take out a loan or line of credit on behalf of the business.
  • Service is available in 36 states.

How Much Can You Borrow? 

With FlexFund, businesses can borrow $5,000 to $200,000. True to its name, FlexFund is flexible. The initial amount you borrow isn’t the final amount, and you can apply for more funding 60 or 120 days after initial funding if your circumstances change.

Repayment Terms

FlexFund repayments are calculated by factor rate rather than APR. With The Business Backer, your factor rate is determined according to your industry, how long your business has been in operation, stability of your sales and growth, and average monthly credit card sales. To calculate the total amount you’ll need to pay back to The Business Backer, simply multiply the factor rate by the total amount funded. This is different from an APR, which works on an annual basis. For example, if your funding amount is $10,000 and your factor rate is 1.3, you’ll owe $13,000 by the end of your term.

Here are a few things to know about making repayments with FlexFund:

  • Factor rates range from 1.1-1.5
  • Terms of 1-15 months for FlexFund, or 1-36 months for other funding types
  • Daily, weekly, or twice-monthly payments
  • No prepayment penalties
  • Other fees vary by business

Privacy and Security 

According to The Business Backer, it protects its customers’ personal details with bank-level security and 128-bit encryption. Its website is certified by Norton and McAfee.

Help & Support

The Business Backer’s US-based customer service team is available during regular weekday business hours. The online feedback has been overwhelmingly positive, with customers praising The Business Backer’s customer support team for walking them through every step of the process. The Business Backer has dedicated funding advisors who get to know your business’s needs before advising you on which product is best for you.


The Business Backer offers a smorgasbord of funding products for small businesses. Starting with its direct FlexFund, offering up to $200,000 in fast funding, to other funding options through partner companies, The Business Backer offers customers many different ways to manage their cash flow or fund expansion.

Physical Address

10856 Reed Hartman Highway, Suite 100

Cincinnati Ohio 45242