Fast Business Financial Lines of Credit

Fast Business Financial Lines of Credit Review

Fast Business Financial Lines of Credit is offered by Fast Business Financial, LLC, a direct lender founded in 2014 and based in Los Angeles, CA. Fast Business Financial Lines of Credit is available in 50 states (and Washington, DC).

Fast Business Financial Lines of Credit FAQ

What APRs does Fast Business Financial Lines of Credit offer?

Fast Business Financial Lines of Credit offers a variable APR product that ranges from 7% APR up to 25% APR.

Does Fast Business Financial Lines of Credit charge an origination fee?

Yes, Fast Business Financial Lines of Credit charges an origination fee.

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

Fast Business Financial Lines of Credit considers line of credit 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 Fast Business Financial Lines of Credit charge prepayment fees?

No, Fast Business Financial 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 Fast Business Financial Lines of Credit?

Line of credit amounts start at $10,000 and go up to $1,000,000.

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

Fast Business Financial Lines of Credit offers business lines of credit with terms ranging from 6 to 60 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 Fast Business Financial Lines of Credit?

Fast Business Financial 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 Fast Business Financial 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 Fast Business Financial 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
• Government issued photo ID

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

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

• Business license
• Business bank account

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

Yes, Fast Business Financial 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 Fast Business Financial, LLC offer?

Fast Business Financial, LLC 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.