lendpaper.
Scenario Modeling Engine
Lender Waterfall
Personal Credit Score
300
300850
Months in business
0 mo
0 mo Check in RegistryRoute 24 mo
Monthly revenue
$0
$0$100k+
Risk appetite
Product
Positions
Provider type
Lender
☐ select to compare		 Products Risk appetite Min FICO TIB (mo.) Monthly rev Positions

How to use this matrix

Set FICO, months in business, and revenue — table filters to eligible lenders instantly. Click any row for full underwriting specs, verification sourcing, and direct application portals.

Regulatory & accuracy disclaimer

Underwriting specs change frequently — click to expand.

This is an early-stage, active development version of the LendPaper Lender Waterfall Engine. Alternative lending underwriting criteria, FICO thresholds, restricted industries, and stacking regulations are updated frequently by funding institutions and may change without notice. While we synchronize this database regularly, some entries may contain outdated criteria or technical inaccuracies. Brokers must verify all terms directly with lender underwriters prior to contract execution.

Note for ISOs & brokers: Displayed rates, factor ranges, and underwriting thresholds reflect general published guidelines and may vary for ISO partners based on volume, relationship tier, program agreements, and individual lender discretion. Your specific buy rates and program terms may differ — confirm directly with your lender rep or ISO desk before quoting merchants.

Are you an underwriting manager or direct lender? To submit updated rulesets, correct guidelines, or request inclusion in our waterfall, please email hello@lendpaper.com with your direct submission desk contact.
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Fundability

Net requirement and stacking risk assessment

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Submit an update

Every broker prices deals against this waterfall — so accurate listings get the deals that fit. Direct lenders, underwriting managers, and brokers can confirm a buy-box, correct a ruleset, or add a new lender in about a minute.

Claim or update your listing — 60-second self-serve form: Prefer email? Send your guidelines to:

Risk appetite

Shows what borrower profile a lender will accept — not a judgment on the lender. A lender that accepts high-risk borrowers will also take moderate and low-risk ones. Score is composite: credit score minimum, time in business, monthly revenue, and product type (MCA raises the score).

Low
Strict underwriting — 650+ FICO, 18+ months TIB, $50k+ monthly revenue, no MCA. Borrower profile must be strong. Typically banks, SBA-preferred lenders, and traditional term lenders.
Low–Moderate
600–650 FICO range, 12–18 months TIB, $25k–$50k monthly revenue. Will consider borrowers with decent but imperfect profiles.
Moderate–High
500–599 FICO, 6–12 months TIB, $10k–$25k monthly revenue. Frequently offers MCA alongside term products. Higher factor rates and tighter position limits.
All risk tiers
Sub-500 FICO or no credit check, under 6 months TIB, under $10k monthly revenue, often MCA-only. Broadest borrower pool — highest cost of capital and most verification-heavy.

Product Types

LOC
Line of Credit
Revolving credit facility — draw, repay, and draw again up to the approved limit. Interest on drawn balance only.
MCA
Merchant Cash Advance
Revenue-based advance, not a loan. Repaid via a daily or weekly split of bank deposits. No fixed term — payoff speed ties to revenue.
BLA
Business Term Loan
Fixed repayment schedule with set daily or weekly ACH payments. Typically 6–36 month terms.
EQP
Equipment Financing
Asset-secured loan for machinery, vehicles, or equipment. The financed asset serves as collateral — often lower rates than unsecured products.
SBA
SBA Loan
Government-backed loan. Longer terms (up to 25 years), lower rates, but slower approval and stricter qualification.
CRE
Commercial Real Estate
Financing secured by commercial property — office, retail, industrial, or mixed-use. Typically longer terms and larger amounts than unsecured working capital.

Verification

These traits describe how a lender verifies and qualifies applicants. Filter by one or more to narrow the waterfall.

SOFT PULL
Soft Credit Pull
Pre-qualification uses a soft inquiry — no impact to the borrower's personal credit score. Hard pull may still occur at funding.
BANK VFD
Bank Verified
Lender verifies statements via open banking (Plaid, Finicity, or similar) instead of PDF uploads — faster review, fewer stips.
NO COLL
No Hard Collateral
No real estate, equipment, or major assets pledged as security. Typically UCC blanket lien only — lower barrier for borrowers.

Provider type

Who actually funds the deal — and how the money reaches the borrower. Filter to the kinds of providers you place with.

DIRECT
Direct lender
Funds off its own balance sheet. The name on the term sheet is the party wiring the money — no middleman on the capital.
DIRECT+
Direct + syndication
Funds directly on most files, but also taps outside capital or places deals it can't hold itself — so a deal outside its box can still get done.
MARKET
Marketplace
A platform that routes your deal to a panel of funding partners rather than funding off its own book. One application, several possible funders.
BROKER
Broker / ISO
An intermediary (independent sales office) that packages and places deals with funders for a commission. Never funds the deal itself.

Positions

Stack position refers to where a new funding sits in relation to a borrower's existing advances or loans — 1st means no prior positions, 2nd means one advance already outstanding, and so on.

How the filter works
Selecting "2nd" shows all lenders whose max position limit is ≥ 2 — they'll fund a borrower who already has one advance outstanding. A lender with max stacking of 3 appears in 1st, 2nd, and 3rd position results.
Higher position = higher risk
Each additional position increases lender risk and reduces approval odds. Many lenders cap at 1st or 2nd position. Stacking beyond a lender's stated max is an automatic decline.
Assess full position risk
Fundability scores stacking risk alongside FICO, TIB, and revenue in one view.