SuperMoney
  Dealstruck Business Lines of Credit

Dealstruck Business Lines of Credit

in Business Lines of Credit from Dealstruck

Unaffiliated

Dealstruck Business Lines of Credit

Unaffiliated

in Business Lines of Credit from Dealstruck

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote

Would you recommend Dealstruck Business Lines of Credit to your friends?

Thanks for your vote!

You voted: May or may not recommend

Highlights
APR  (Fixed APR) 9.99% - 21.99%
Credit Score Range 600 - 850
Loan Amount $25,000 - $500,000

Dealstruck Business Lines of Credit Review

Dealstruck Business Lines of Credit is offered by Dealstruck, a marketplace lending platform founded in 0 and based in Carlsbad, CA. Dealstruck Business Lines of Credit is available in 50 states (and Washington, DC).

Dealstruck Business Lines of Credit FAQ

What APRs does Dealstruck Business Lines of Credit offer?

Dealstruck Business Lines of Credit offers a fixed APR product that ranges from 9.99% APR up to 21.99% APR.

Does Dealstruck Business Lines of Credit charge an origination fee?

Yes, Dealstruck Business Lines of Credit charges an origination fee starting at 0% of the line of credit amount. Dealstruck Business Lines of Credit deducts the fee directly from your line of credit amount before disbursing the fund, so make sure you take this fee into account when deciding how much you need to borrow.

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

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

  • Equipment Purchase
  • Inventory
  • Lease Improvement
  • New Location
  • Payroll
  • Product or Service Expansion
  • Working capital

Does Dealstruck Business Lines of Credit charge prepayment fees?

Yes, Dealstruck Business Lines of Credit charges additional fees to borrowers who pay off their lines of credit sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a line of credit early.

How much can you borrow from Dealstruck Business Lines of Credit?

Line of credit amounts start at $25,000 and go up to $500,000.

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

Dealstruck Business Lines of Credit offers business lines of credit with terms ranging from 12 to 48 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 Dealstruck Business Lines of Credit?

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

Dealstruck Business 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. APRs for the Dealstruck Business Lines of Credit product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Dealstruck Business 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
  • Proof of identity

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

Dealstruck Business Lines of Credit can approve (or deny) a line of credit application within 48 hours and fund business lines of credit within 5 business days of approval.

What are the business financing requirements for Dealstruck Business Lines of Credit?

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

  • Business license
  • Business bank account

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

Yes, Dealstruck Business 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.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Other Services by Dealstruck

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Origination Fee (%) Starting at 0%
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 600 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Age 18
Minimum Months in Business 12
Minimum Revenue $150,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Recent Bank Statements
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Minimum Draw Starting at $5,000
Approval Speed 48 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 5 - 7 days
Payment Frequency Monthly
Payment Options
  • Automatic Payments
  • Bank Transfer
APR (Fixed APR) 9.99% - 21.99%
Loan Amount $25,000 - $500,000
Loan Term 12 - 48 months

Be the first to rate

 

Would you recommend Dealstruck Business Lines of Credit to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
Cancel my vote
(will require moderator approval)