in Business Lines of Credit from Action Capital CorporationUnaffiliated
|APR (Fixed APR)||N/A|
|Credit Score Range||N/A|
|Loan Amount||$50,000 - $7,000,000|
Action Capital Lines of Credit Review
Action Capital Lines of Credit is offered by Action Capital Corporation, a direct lender founded in 1959 and based in Atlanta, GA. Action Capital Lines of Credit is available in 50 states (and Washington, DC).
What APRs does Action Capital Lines of Credit offer?
Action Capital Lines of Credit offers a fixed APR product, but they do not disclose their rates.
Does Action Capital Lines of Credit charge an origination fee?
No, Action Capital Lines 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.
What limitations does Action Capital Lines of Credit set on the purpose of the line of credit?
Action Capital Lines of Credit considers line of credit applications for business purposes, such as:
- Equipment Purchase
- Lease Improvement
- New Location
- Product or Service Expansion
- Working capital
Does Action Capital Lines of Credit charge prepayment fees?
No, Action Capital Lines 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 Action Capital Lines of Credit?
Line of credit amounts start at $50,000 and go up to $7,000,000.
What do you need to qualify for Action Capital Lines of Credit?Action Capital Lines of Credit does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18 or the state minimum, whichever is higher.
Action Capital Lines of Credit does not have or does not disclose a minimum annual income eligibility requirement.
The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Action Capital Lines of Credit. Their rates fall within the limits of The Military Lending Act.
U.S. citizens are, of course, eligible for the services offered by Action Capital Lines of Credit. Permanent resident / green card holders are also eligible to apply.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Recent bank statements
- Business formation documents
What are the business financing requirements for Action Capital Lines of Credit?
To apply for Action Capital Lines of Credit, the applicant needs to provide the following documentation:
- Business license
- Business bank account
Does Action Capital Lines of Credit report your account activity to credit bureaus?
Yes, Action Capital Lines of Credit reports your account activity to the following credit reporting agencies:
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.
What types of business lines of credit does Action Capital Corporation offer?
Action Capital Corporation offers both secured and unsecured lines of credit. Secured lines of credit are typically secured by a blanket lien on your assets or a certificate of deposit.
Message From Action Capital Lines of Credit
Other Services by Action Capital Corporation
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|No Origination Fee|
|No Prepayment Fee|
|Business Financing Requirements||
|Immigration Status Considered||
|Verification Documents Required||
|Intended Use of Funds||
|Credit Bureau Reporting||
|Loan Amount||$50,000 - $7,000,000|