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  Sprout Financial Unsecured Lines of Credit

Sprout Financial Unsecured Lines of Credit

in Business Lines of Credit from Sprout Financial

Unaffiliated

Sprout Financial Unsecured Lines of Credit

Unaffiliated

in Business Lines of Credit from Sprout Financial

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Highlights
APR  (Fixed APR) 0% - 99%
Credit Score Range 300 - 850
Loan Amount Starting at $50,000

Sprout Financial Unsecured Lines of Credit Review

Sprout Financial Unsecured Lines of Credit is offered by Sprout Financial, a financial services company founded in 2014 and based in Phoenix, AZ. Sprout Financial Unsecured Lines of Credit is available in 50 states (and Washington, DC).

Sprout Financial Unsecured Lines of Credit FAQ

What APRs does Sprout Financial Unsecured Lines of Credit offer?

Sprout Financial Unsecured Lines of Credit offers a fixed APR product that ranges from 0% APR up to 99% APR.

Does Sprout Financial Unsecured Lines of Credit charge an origination fee?

Yes, Sprout Financial Unsecured Lines of Credit charges an origination fee.

What limitations does Sprout Financial Unsecured Lines of Credit set on the purpose of the line of credit?

Sprout Financial Unsecured 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 Sprout Financial Unsecured Lines of Credit charge prepayment fees?

No, Sprout Financial Unsecured 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 Sprout Financial Unsecured Lines of Credit?

Line of credit amounts start at $50,000.

What do you need to qualify for Sprout Financial Unsecured Lines of Credit?

When it comes to credit scores, Sprout Financial doesn't have a set minimum or maximum. People with all types of credit scores can apply. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Sprout Financial Unsecured 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 Sprout Financial Unsecured 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 Sprout Financial Unsecured 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
  • Driver's license
  • Proof of identity

What is the estimated funding time for the Sprout Financial Unsecured Lines of Credit?

Sprout Financial Unsecured Lines of Credit can approve (or deny) a line of credit application within 1 hour and fund business lines of credit within 14 business days of approval.

What are the business financing requirements for Sprout Financial Unsecured Lines of Credit?

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

  • Business license
  • Business bank account

Does Sprout Financial Unsecured Lines of Credit report your account activity to credit bureaus?

Yes, Sprout Financial Unsecured 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 Sprout Financial offer?

Sprout Financial only offers unsecured lines of credit.

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Other Services by Sprout Financial

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

No Prepayment Fee
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 300 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
  • 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
  • Inventory
  • Payroll
  • Hiring
  • Technology Investment
Approval Speed 1 hour
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Funding Time Range 14 - 45 days
Payment Frequency Monthly
Payment Options
  • Automatic Payments
  • Bank Transfer
APR (Fixed APR) 0% - 99%
Loan Amount Starting at $50,000

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