Last Updated: 04/18/2025
StreetShares Business Lines of Credit
Unaffiliated
in Business Lines of Credit from StreetShares
Last Updated: 04/18/2025
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Highlights
APR (Fixed APR)
6% - 20%(Verified 06/21/2024)
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Credit Score Range
640 - 850
Amount Range
$2,000 - $250,000
StreetShares Business Lines of Credit Review
StreetShares Business Lines of Credit is offered by StreetShares, a direct lender founded in 2013 and based in Reston, VA. StreetShares Business Lines of Credit are available in states.
StreetShares Business Lines of Credit FAQ
What APRs does StreetShares Business Lines of Credit offer?
StreetShares Business Lines of Credit offers an APR that ranges from 6% APR up to 20% APR.
Does StreetShares Business Lines of Credit charge an origination fee?
Yes, StreetShares Business Lines of Credit charges an origination fee of up to 4.95% of the line of credit amount.
Does StreetShares Business Lines of Credit charge a late fee?
Yes, StreetShares Business Lines of Credit charges borrowers with a late payment fee of up to $10 .Does StreetShares Business Lines of Credit charge prepayment fees?
No, StreetShares Business 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 StreetShares Business Lines of Credit?
Line of credit amounts start at $2,000 and go up to $250,000.
What is the maximum term you can get with StreetShares Business Lines of Credit?
StreetShares Business Lines of Credit offers business lines of credit with terms ranging from 3 to 36 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 StreetShares Business Lines of Credit?
Applicants with a credit score of at least 640 and up to 850 may be eligible for StreetShares Business Lines of Credit. StreetShares Business Lines of Credit does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by StreetShares Business Lines of Credit.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Bank account information
- Business formation documents
- Proof of identity
What is the estimated funding time for the StreetShares Business Lines of Credit?
StreetShares Business Lines of Credit can fund business lines of credit within 2 business days of approval.
What are the business financing requirements for StreetShares Business Lines of Credit?
To apply for StreetShares Business Lines of Credit, the applicant needs to provide the following documentation:
- No outstanding liens.
- Business license
- Business bank account
Does StreetShares Business Lines of Credit report your account activity to credit bureaus?
Yes, StreetShares Business Lines of Credit reports to the following credit bureaus:
- 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 build your credit.
Does StreetShares perform a hard credit pull?
Yes, StreetShares Business Lines of Credit performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
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