Frequently Asked Questions
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Have a question about DominoFX Group, our loans, or our programs? Take a look at our most frequently asked questions.
DominoFX Group works with its sister organization, The Domino Effect, to connect Founders to Funders with technical assistance, business courses, business advisors, and access to other programs and services.
DominoFX Group
What is DominoFX Group
DominoFX Group is a minority-led small business online lender marketplace with a fully online application process offering a wide array of loan products. DominoFX Group partners with the best in non-bank financing, private capital and various state banks to administer programs using our technology enabled platform and team of experienced banking professionals.
Is DominoFX Group a bank?
No. DominoFX Group is an online lender marketplace, but not a bank. By definition, banks take deposits and keep them in accounts for customers. We partner with banks, CDFIs and private capital and other trusted, reputable lenders.
Where is DominoFX Group headquartered?
DominoFX Group is headquartered in Northern California, but has partnerships in multiple states, working with small businesses nationwide and building an entrepreneurship school in every state.
What are the Qualifications for a Business Loan?
Qualifications differ depending on the lender, so there's no simple answer.
When you apply with us, our team navigates a diverse lender marketplace to match you with the right lender for your business.
Whether you have challenged or perfect credit, our team will find you the right lender or program. We pull in the right lending partners for each client to provide them with with the best options they qualify for.
What can I expect when I apply for a loan?
Our online application requests information about you, your business, and your business's finances. It then asks you to upload official documents that support the information you provided. In order for us to provide you with the best options available to you as well as staying compliant with laws and lenders, we review these documents and perform verification on your identity and finances.
How quickly your application proceeds depends on the type of loan, how quickly you provide additional information, and other factors which vary on each business owner's need and unique situation.
We have guides, videos, and resources to help you every step of the way. Please visit https://www.dominofxgroup.com/blog.
How do I get an update on my loan application?
Visit dominofxgroup.com or login to your back portal, depending on the program you are in. If you prefer to talk to a persn, we want to speak to you! Please call us at the phone numbers on our Contact Us page.
Does DominoFX Group run my Credit?
Our in-house underwriting team does soft credit pulls. From there, we can understand which lenders will approve you.
We do this through our lender matching technology and, of course, our team of expert Business Finance Advisors.
A majority of the lenders on our platform will also do soft credit pulls. If you are going to get a hard inquiry when you want to accept your offer, we'll let you know upfront immediately.
What is the Interest Rate on a business loan from DominoFX Group?
The rates can change depending on the different lending products. At banks, interest rates are generally the prime rate +2%, but strict qualifications restrict many businesses from reaching an approval that aligns with their business goals.
We offer SBA loans, equipment financing, business term loans, lines of credit, inventory financing, A/R financing, and asset-based lending. All these products come with different rates, and they all change constantly.
For equipment and SBA funding, interest rates are in teh single digits (6-8% range)
A/R and asset-based lending come with single digit interest rates if you have high-quality receivables or collateral.
If you don't have B2B receivables or collateral, rates are around 1% per month and will increase from there. This equates to 10-18% annually.
We have all the lenders, banks and investors in one place. We look to get you the best deal and get you the most competitive interest rate for whatever you're looking to accomplish.
Do you have options to Build Business Credit?
ABSOLUTELY! Business Credit is a beast and a game changer that can help you start when you have challenged personal credit, no collateral or cash flow. OR if you're an established business looking to boost the value of your business, offset your business expenses by 50-90%, separate your business from your personal liability and provide more flexibility in your cash flow.
We've helped hundreds of businesses build their business credit. Schedule your FREE Funding Planning Assessment today. We'll look at your business' foundational aspects and
make sure they're done the right way, that gives you the biggest chance of getting approved for credit, financing AND being able to get it at the best terms.
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The CEO Creative - Tier 1 Business Credit
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“Having a great idea is not enough; you need to be able to fundit and make it happen." - Melanie Perkins, Canva
Become a MEMBER, Join today and unlock amazing benefits through The CEO Creative, one of the top tier-1 net 30 vendors for building business credit.
Qualifying for The CEO Creative Business NET 30 Account:
To be eligible, your business needs to meet these minimum requirements:
U.S.-based business
In operation for at least 30 days
Clean business history
No late payments on record
Start building your credit and accessing top benefits today with No Late payments
The CEO Creative: https://thecreditexpert.tiny.us/CeoCreativeNet30
The CEO Creative Net 30 Account: Pros & Cons
After diving deeper into the research, here are some key pros and cons of using Net 30 terms in your business: 💼💰
Pros
Net 30 terms offer benefits for both vendors and customers by allowing more flexible payment timelines. Here are some other advantages:
Supporting long-term growth for your business
Helping you build business credit
Creating a valuable trade reference for your business
Providing an incentive for customers to purchase your products or services
Building trust and loyalty with your customer base
Offering the option to add early payment discounts
Cons
A 30-day payment delay can be tough for small businesses to manage. Late payments can also lead to accounting challenges, complicating cash flow and budgeting.
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Which Business Could Benefit from Net 30 accounts?
Small and medium-sized businesses often turn to Net 30 trade credit as a practical financing option, as the 30-day payment period gives clients flexibility to manage their budgets and pay within their own schedule. Here’s a quick look at the types of businesses that can benefit most from our Net 30 accounts 📈
✅ B2B service and product providers
✅ Online coaching and consulting services
✅ Social media agencies
✅ Educational services
✅ New and small business owners
✅ Medical practices and clinics
✅ Construction companies
✅ Manufacturing firms
✅ Restaurant suppliers
Resources to Help You Execute:
Here is a quick checklist to get you started. Remember imperfect action beats inaction, get started, stay consistent and let's Build! 🚀
🔍Watch our YouTube Channel
The Domino Effect - to LEARN⬇️🧏♀️ FREE COURSES & Trainings 🧠
How to get money💰 to grow your business👩🏻💻 Financing for Diverse Entrepreneurs
📚Claim Your Business Credit Building Guide: https://financeguide.dominofxgroup.com/
📲 Funding Planning Session: https://plan.dominofxgroup.com/
Subscribe on LinkedIn to stay connected with the best resources to grow your business: https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=718759297885977395
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We’ll keep you up to date with all the latest news from The Domino Effect and our community. Hear from our Funders, receive exclusive offers from our partners and make the most of our handy guides and blogs designed to make your business run a little smoother, while accessing the best resources to capital.
Testimonials
Real results from business owners just like you
Cheryl Reisner, a former bank lender from Shreveport, Louisiana. The suite’s business credit building process unlocked more funding options than she ever imagined, opening up new possibilities for her business. Cheryl believes every business owner can benefit from the Business Finance Suite, as it revolutionizes how they operate.
Louis, a Miami-based business owner found success using the Business Finance Suite, which helped establish a business credit profile. This enabled them to apply for funding without using their Social Security number, eliminating personal liability for credit applications. The speaker highly recommends this program to fellow business owners.
Edward from El Paso, Texas, struggled to secure funding for his small businesses until discovering the Business Finance Suite. Within a month, the suite helped set up his business correctly, establish trade lines and revolving credit, and now he’s on track to receive funding. Edward guarantees it’s worth the investment and only wishes he’d found it sooner.
