Kalamata Capital Lines of Credit

Kalamata Capital Lines of Credit Review

Kalamata Capital Lines of Credit is offered by Kalamata Capital, a direct lender founded in 2013 and based in Bethesda, MD. Kalamata Capital Lines of Credit are available in 50 states (and Washington, DC).

Kalamata Capital Lines of Credit FAQ

What APRs does Kalamata Capital Lines of Credit offer?

Kalamata Capital Lines of Credit offers a fixed APR product that ranges from 12% APR up to 28% APR.

Does Kalamata Capital Lines of Credit charge an origination fee?

Yes, Kalamata Capital Lines of Credit charges an origination fee of 1% to 2% of the line of credit amount starting at $525 Kalamata 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 Kalamata Capital Lines of Credit set on the purpose of the line of credit?

Kalamata Capital 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
• Technology Investment
• Working capital

Does Kalamata Capital Lines of Credit charge prepayment fees?

Yes, Kalamata 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 Kalamata Capital Lines of Credit?

Line of credit amounts start at $25,000 and go up to $750,000.

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

Kalamata Capital Lines of Credit offers business lines of credit with terms ranging from 6 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 Kalamata Capital Lines of Credit?

Applicants with a credit score of at least 580 and up to 850 may be eligible for Kalamata Capital Lines of Credit.

Kalamata 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. APRs for the Kalamata Capital 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 and permanent resident / green card holders are eligible to apply for the services offered by Kalamata Capital 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 are the business financing requirements for Kalamata Capital Lines of Credit?

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

• Personal guarantee.
• No outstanding liens.
• Business license
• Business bank account

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

Yes, Kalamata 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 is the minimum percentage of business ownership that Kalamata Capital Lines of Credit requirs from the applicant?

To apply for Kalamata Capital Lines of Credit, the applicant needs to have at least 51% of business ownership. If you don't have enough ownership in the company, your application will most likely be denied from the Kalamata Capital.

What types of business lines of credit does Kalamata Capital offer?

Kalamata Capital 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.