BusinessLoans.com Lines of Credit

BusinessLoans.com Lines of Credit Review

BusinessLoans.com Lines of Credit is a business financing offering by BusinessLoans.com, based in , . Founded in , BusinessLoans.com offers access to small business loans in 50 states (and Washington, DC).

BusinessLoans.com Lines of Credit FAQ

What are BusinessLoans.com Lines of Credit’s rates?

BusinessLoans.com Lines of Credit offers a fixed APR business financing product that ranges from 9% APR.

Does BusinessLoans.com Lines of Credit charge an origination fee?

No, BusinessLoans.com Lines of Credit does not charge a loan origination fee. A loan origination fee is what some lenders charge for processing, underwriting, and funding a business loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

What limitations does BusinessLoans.com Lines of Credit set on the purpose of the business loan?

BusinessLoans.com Lines of Credit considers business loan applications for business purposes, such as:

• Business Debt Refinance
• Emergency Repairs
• Equipment Purchase
• Hiring
• Inventory
• Lease Improvement
• Marketing
• New Location
• Payroll
• Product or Service Expansion
• Technology Investment
• Working capital

Does BusinessLoans.com Lines of Credit charge prepayment fees?

No, BusinessLoans.com Lines of Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the business loan off early.

How much can you borrow from BusinessLoans.com Lines of Credit?

Business loan amounts start at $5,000 and go up to $3,000,000.

What is the maximum business loan term you can get with BusinessLoans.com Lines of Credit?

BusinessLoans.com Lines of Credit offers small business loans with terms ranging from 3 to 36 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for BusinessLoans.com Lines of Credit?

Applicants with a credit score of at least 600 and up to 850 may be eligible for BusinessLoans.com Lines of Credit. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

BusinessLoans.com 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 BusinessLoans.com 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 BusinessLoans.com Lines of Credit.

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

• Recent bank statements
• Driver's license
• Government issued photo ID
• Proof of identity