Small Business Loan is only available for businesses based in California, Texas, Florida, Arizona & Nevada.
Small Business Loan
SMALL BUSINESS LOANS
- Instant prequalification with no impact to credit score
- Mobile-friendly application with funding in 4-10 days
- Repay at any time with no penalty or additional fees
- Collateral not required
- Limited restrictions on the use of funds
UNIQUE BORROWER BENEFITS
- Unsecured fully amortized commercial loan with rates between 12.0% and 19.5%
- Can be funded as subordinated debt over an existing secured loan or credit line
- Sole proprietors and ITIN holders are eligible
• Bilingual customer service in English and Spanish
LOAN SIZE RANGE
ANNUAL INTEREST RATE ORIGINATION FEE * LOAN TERMS
PAYMENT FREQUENCY
$10,000 to $400,000 12.0% to 19.5%
5.0% of Loan Amount 24 to 60 months Monthly
AVERAGE LOAN SIZE
$100K
AVERAGE TERM
36 mo.
AVERAGE FICO SCORE
680
AVERAGE APR
18.6%
MEDIAN REVENUE SIZE
$459,892
- KEY FEATURES
-
- Instant prequalification with no impact to credit score
- Mobile-friendly application with funding in 4-10 days
- Repay at any time with no penalty or additional fees
- Collateral not required
- Limited restrictions on the use of funds
- Instant prequalification with no impact to credit score
- INITIAL LOAN TERMS
-
UNIQUE BORROWER BENEFITS
- Unsecured fully amortized commercial loan with rates between 12.0% and 19.5%
- Can be funded as subordinated debt over an existing secured loan or credit line
- Sole proprietors and ITIN holders are eligible
• Bilingual customer service in English and Spanish
LOAN SIZE RANGE
ANNUAL INTEREST RATE ORIGINATION FEE * LOAN TERMS
PAYMENT FREQUENCY - REQUERIMENTS
-
$10,000 to $400,000 12.0% to 19.5%
5.0% of Loan Amount 24 to 60 months Monthly - BORROWER STATISTICS
-
AVERAGE LOAN SIZE
$100K
AVERAGE TERM
36 mo.
AVERAGE FICO SCORE
680
AVERAGE APR
18.6%
MEDIAN REVENUE SIZE
$459,892
- Only available to businesses based in California, Texas, Florida, Arizona and Nevada
- Proof of operating the business for at least 9 months
- Generate at least $90,000 in annual sales
- No bankruptcies in the last 12 months
- Required documents: one year of business tax return, one year of personal tax returns, and a business debt schedule (6-2-1-1)
- Restricted industries include, but not limited, to: real estate investing, financial investing and car dealerships
- Maximum loan amount is $400,000 for California ONLY and $200,000 for other states.
-
These are the minimum documents required to complete a loan application. Credit underwriting may ask for additional documents based on the applicant’s profile and other circumstances. Only one year of business tax returns are required if the business has operated less than two years.
