![]() Why we chose this company: You can repay a PayPal Working Capital loan via a predetermined percentage of your PayPal sales each month. Term Length Varies based on PayPal sales Loan Amount Up to $150,000 for first-time borrowers and $250,000 for repeat borrowers Minimum Credit Score N/A Required Time in Business 90+ days with an active PayPal Business or Premier account Pro tip: If you’d like to explore other business funding options, take steps to improve your credit score. ![]() Members get a 52-week term option, 20% off weekly fees, a monthly auto debit option, the ability to delay their first payment for up to 28 days and priority customer service. The company is also beta testing Fundbox Plus, a $99 per month subscription service. Your weekly payments will get auto-debited from your business bank account, and there’s no prepayment penalty if you pay off the loan early. Loans may be issued directly through Fundbox or First Electronic Bank, a Utah-Chartered Industrial Bank.įundbox’s APR starts at 4.66% for 12-week terms. If approved, you could get your funds the next business day. Its online application process is quick, and you may get a decision in as little as three minutes. ![]() (The company’s term loan product is currently in beta testing.) You only need a 600+ FICO rating to meet the lender’s credit score requirement.įundbox borrowers also need $100,000+ in annual revenue and to have been in business for at least six months to qualify for a line of credit. Why we chose this company: Fundbox can help borrowers with less than stellar credit access the capital their business needs. Term Length 12 or 24 weeks Loan Amount Up to $150,000 Minimum Credit Score 600 Required Time in Business 6+ months That way, you don’t have to worry about forgetting to pay your bill. Your payments will get auto-debited from your business bank account on a weekly or monthly basis. Plus, Bluevine doesn’t charge origination fees, account maintenance fees or prepayment penalties. Well-qualified borrowers could see an APR as low as 6.2%. They can then take up to 12 months to repay what they draw Approved Bluevine customers can access a business line of credit of up to $250,000 issued through Celtic Bank, a Utah-Chartered Industrial Bank. Your credit score must be higher than 625, and your company must be at least six months old. Plus, if approved, you may be able to get same-day funding with a $15 wire transfer.īluvine's eligibility requirements are on par with other working capital loan products we've reviewed. Why we chose this company: Bluevine can approve qualified borrowers in as little as five minutes via an online application. Term Length 6 or 12 months Loan Amount Up to $250,000 Minimum Credit Score 625 Required Time in Business 6+ months We encourage consumers to do additional research before making a commitment. Note: While the American Express Business Line of Credit is worthy of our top pick, some customers have had a bad experiences with the application process and the customer service department. And if you qualify, your online application may get approved in minutes, and your funds disbursed within a business day of your loan offer.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |