Last Updated: 04/18/2025
1West Business Line of Credit
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Last Updated: 04/18/2025
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Highlights
APR (Variable APR)
Starting at 6%(Verified 11/20/2024)
Credit Score Range
Starting at 500
Amount Range
$10,000 - $250,000
1West Business Line of Credit Review
1West Business Line of Credit is offered by Jaydee Ventures, LLC, a marketplace lending platform founded in 2017 and based in New York, NY. 1West Business Line of Credit are available in states.
1West Business Line of Credit FAQ
What APRs does 1West Business Line of Credit offer?
1West Business Line of Credit offers a variable APR that starts at 6% APR.
Does 1West Business Line of Credit charge an origination fee?
No, 1West Business Line of Credit does not charge an origination fee. An origination fee is what some lenders charge for processing, underwriting, and funding a business financing product. Typically fees range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees.
Does 1West Business Line of Credit charge prepayment fees?
No, 1West Business Line of Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit balance off early.
How much can you borrow from 1West Business Line of Credit?
Line of credit amounts start at $10,000 and go up to $250,000.
What is the maximum term you can get with 1West Business Line of Credit?
1West Business Line of Credit offers business lines of credit with a maximum term of 24 months. Having the option of longer terms allows borrowers to take on larger line of credit amounts while keeping monthly payments more affordable. However, the longer the term of the amounts you borrow, the more interest you will pay.
What do you need to qualify for 1West Business Line of Credit?
Applicants with a credit score that ranges above 500 may be eligible for 1West Business Line of Credit. The minimum age to be eligible is 18 or the state minimum, whichever is higher. 1West Business Line of Credit does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by 1West Business Line of Credit.
What is the estimated funding time for the 1West Business Line of Credit?
1West Business Line of Credit can fund business lines of credit within 1 business day of approval.
What are the business financing requirements for 1West Business Line of Credit?
To apply for 1West Business Line of Credit, the applicant needs to provide the following documentation:
Does 1West Business Line of Credit report your account activity to credit bureaus?
Yes, 1West Business Line of Credit reports to the following credit bureau:
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.
Does Jaydee Ventures, LLC perform a hard credit pull?
Yes, 1West Business Line of Credit performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
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