Billd Lines of Credit

Billd Lines of Credit Review

Billd Lines of Credit is offered by Billd, LLC, a direct lender founded in 2018 and based in Austin, TX. Billd Lines of Credit are available in 50 states (and Washington, DC).

Billd Lines of Credit FAQ

What APRs does Billd Lines of Credit offer?

Billd Lines of Credit offers a fixed APR product that starts at 18% APR.

Does Billd Lines of Credit charge an origination fee?

Yes, Billd Lines of Credit charges an origination fee of up to 1.5% of the line of credit amount.

What limitations does Billd Lines of Credit set on the purpose of the line of credit?

Billd Lines of Credit considers line of credit applications for business purposes, such as:

• Working capital

Does Billd Lines of Credit charge prepayment fees?

No, Billd 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.

What is the maximum term you can get with Billd Lines of Credit?

Billd Lines of Credit offers business lines of credit with terms ranging from 1 to 4 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 Billd Lines of Credit?

When it comes to credit scores, Billd, LLC doesn't have a set minimum or maximum. People with all types of credit scores can apply. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Billd 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 Billd Lines of Credit. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Billd Lines of Credit.

To qualify, applicants may need to provide the following documentation:

• Proof of income
• Recent bank statements
• Business formation documents
• References

What is the estimated funding time for the Billd Lines of Credit?

Billd Lines of Credit can approve (or deny) a line of credit application within 24 hours and fund business lines of credit within 1 business day of approval.

What are the business financing requirements for Billd Lines of Credit?

To apply for Billd Lines of Credit, the applicant needs to provide the following documentation:

• Business license
• Business bank account

Does Billd Lines of Credit report your account activity to credit bureaus?

Yes, Billd Lines of Credit reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

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.