What is a Guarantor?

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What is a Guarantor? “Guarantor” applies to customers who open a Behalf loan backed by FinWise Bank. The guarantor is the natural person connected to the business that is the contact person for the business customer seeking financing and must be either a signatory, true principal officer, general partner, owner or trustor who controls, manages, or directs the business and the disposition of its funds. The Guarantor is financially liable if the business customer does not satisfy its repayment obligations.

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What is a “Responsible Party”?

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What is a “Responsible Party”? A “Responsible Party” is the natural person connected to the business that is the contact person for the business customer seeking business financing or a Merchant Cash Advance and must be either a signatory, true principal officer, general partner, owner or trustor who controls, manages, or directs the business and the disposition of its funds. The responsible party manages the relationship on behalf of the business customer and provides consent to Behalf to make inquiries…

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Product offerings

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How do I know what product offering was assigned to my Behalf account? To see what product offering was assigned to your Behalf account, please do the following: 1. Log into your Behalf account 2. Click on the Profile option found in the left-hand column 3. Scroll down to the bottom section called Agreement to find the account “Type”

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Credit reporting

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What reporting agencies/credit bureaus does Behalf report to? Behalf reports your payment history on a monthly basis to the following credit bureaus: Dunn & Bradstreet (Business Credit File), Experian (Business Credit) and Equifax (Business Credit).  In order to shed some light on why you might not be seeing Behalf data on your report, please note the following: 1. Behalf reports your payment history directly to Dunn & Bradstreet, Experian and Equifax through the Small Business Financial Exchange (SBFE), a third-party…

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