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  In Advance Capital Lines of Credit

In Advance Capital Lines of Credit

in Business Lines of Credit from In Advance Capital

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In Advance Capital Lines of Credit

Unaffiliated

in Business Lines of Credit from In Advance Capital

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Highlights
APR  (Fixed APR) N/A
Credit Score Range 450 - 850
Loan Amount $5,000 - $500,000

In Advance Capital Lines of Credit Review

In Advance Capital Lines of Credit is offered by In Advance Capital, a direct lender founded in 2016 and based in New York, NY. In Advance Capital Lines of Credit is available in 50 states (and Washington, DC).

In Advance Capital Lines of Credit FAQ

What APRs does In Advance Capital Lines of Credit offer?

In Advance Capital Lines of Credit offers a fixed APR product, but they do not disclose their rates.

Does In Advance Capital Lines of Credit charge an origination fee?

Yes, In Advance Capital Lines of Credit charges an origination fee of 3% to 5% of the line of credit amount. In Advance Capital 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 In Advance Capital Lines of Credit set on the purpose of the line of credit?

In Advance Capital Lines of Credit considers line of credit applications for business purposes, such as:

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

Does In Advance Capital Lines of Credit charge prepayment fees?

Yes, In Advance Capital 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 In Advance Capital Lines of Credit?

Line of credit amounts start at $5,000 and go up to $500,000.

What is the maximum term you can get with In Advance Capital Lines of Credit?

In Advance Capital Lines of Credit offers business lines of credit with terms ranging from 3 to 18 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 In Advance Capital Lines of Credit?

Applicants with a credit score of at least 450 and up to 850 may be eligible for In Advance Capital Lines of Credit. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

In Advance Capital 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 In Advance Capital 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 In Advance Capital 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 In Advance Capital Lines of Credit?

In Advance Capital Lines of Credit can approve (or deny) a line of credit application within 3 hours and fund business lines of credit within 1 business day of approval.

What are the business financing requirements for In Advance Capital Lines of Credit?

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

  • Business license
  • Business bank account

Does In Advance Capital Lines of Credit report your account activity to credit bureaus?

Yes, In Advance Capital 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 In Advance Capital offer?

In Advance Capital only offers unsecured lines of credit.

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Message From In Advance Capital Lines of Credit

If you’re not sure how much funding you may need at a given time but would still like to have quick access to working capital, you should consider a business line of credit. Like the rest of our funding programs, you’ll complete our streamlined application process and have a funding decision within hours and funding in as little as one business day. One of the key benefits of our line of credit funding program is that you’re in control. Rather than taking $200,000 just because you can and then only needing half of it, you can take what you need as you need it. This keeps your payments as low as possible and saves you money in the long run. Our business line of credit and other funding programs are not just for struggling businesses. While an infusion of working capital can certainly revive a failing business, it can also propel the growth of a successful company. Most of our clients use our funding programs to expand, purchase additional inventory, hire new employees, and renovate their locations. Every successful business owner effectively plans for the future. Being prepared for unpredictable expenses is an absolute necessity, but more often than not, your natural cash flow and reserves won’t be enough. Having access to an external source of capital is the easiest way to protect your cash flow and your business.

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Other Services by In Advance Capital

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 (%) 3% - 5%
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 450 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Months in Business 6
Minimum Revenue $180,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Recent Bank Statements
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Collateral Requirement Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Lease Improvements
  • New Location
  • Product or Service Expansion
  • Working Capital
  • Business Debt Refinance
Approval Speed 3 hours
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 1 - 2 days
Payment Frequency Monthly
Payment Options
  • Automatic Payments
  • Bank Transfer
Loan Amount $5,000 - $500,000
Loan Term 3 - 18 months

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