Business Capital Mart Lines of Credit

Business Capital Mart Lines of Credit Review

Business Capital Mart Lines of Credit is offered by Business Capital Mart, a marketplace lending platform founded in 2014 and based in Birmingham, AL. Business Capital Mart Lines of Credit are available in 50 states (and Washington, DC).

Business Capital Mart Lines of Credit FAQ

What APRs does Business Capital Mart Lines of Credit offer?

Business Capital Mart Lines of Credit offers a fixed APR product that starts at 5.75% APR.

Does Business Capital Mart Lines of Credit charge an origination fee?

Yes, Business Capital Mart Lines of Credit charges an origination fee.

What limitations does Business Capital Mart Lines of Credit set on the purpose of the line of credit?

Business Capital Mart Lines of Credit considers line of credit applications for business purposes, such as:

• Business Debt Refinance
• Equipment Purchase
• Hiring
• Inventory
• Lease Improvement
• New Location
• Payroll
• Product or Service Expansion
• Working capital

Does Business Capital Mart Lines of Credit charge prepayment fees?

No, Business Capital Mart 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 Business Capital Mart Lines of Credit?

Business Capital Mart Lines of Credit offers business lines of credit with a maximum term of 120 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 Business Capital Mart Lines of Credit?

Applicants with a credit score of at least 700 and up to 850 may be eligible for Business Capital Mart Lines of Credit. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Business Capital Mart 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 Business Capital Mart 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 Business Capital Mart Lines of Credit.

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

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

What is the estimated funding time for the Business Capital Mart Lines of Credit?

Business Capital Mart 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 Business Capital Mart Lines of Credit?

To apply for Business Capital Mart Lines of Credit, the applicant needs to provide the following documentation:

• Business license
• Business bank account

Does Business Capital Mart Lines of Credit report your account activity to credit bureaus?

Yes, Business Capital Mart 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.

What types of business lines of credit does Business Capital Mart offer?

Business Capital Mart only offers unsecured lines of credit.