Where does BFS Capital do business?
BFS Capital is a direct lender based in Coral Springs, FL. It was founded in 2002 and offers access to business loans in 50 states (and Washington, DC).
What are BFS Capital’s rates?
This is a fee-based loan. This means borrowers pay a percentage of the loan balance as a fixed-fee instead of an ongoing APR. BFS Capital offers business loans with a finance charge ranging from 1.11% to 1.48% of the loan's amount.
What is the APR equivalent? The equivalent APR will vary depending on the terms. SuperMoney ran the numbers and a typical APR for this product ranges from 6.37% and up to 195%.
Does BFS Capital charge an origination fee?
Yes, BFS Capital charges a loan origination fee.
What limitations does BFS Capital set on the purpose of the loan?
BFS Capital considers loan applications for business purposes, such as:
What types of business loans does BFS Capital offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. BFS Capital provides access to the following business loan types:
- Unsecured term loans
- Lines of Credit
- Merchant Cash Advances
Does BFS Capital charge prepayment fees?Yes, BFS Capital charges additional fees to borrowers who pay off their loans 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 loan early.
How much can you borrow from BFS Capital?Loan amounts start at $5,000 and go up to $500,000.
What is the maximum loan term you can get with BFS Capital?
BFS Capital offers business loans with terms ranging from 4 to 21 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for a loan with BFS Capital?
Applicants with a credit score of at least 300 can apply for a loan via BFS Capital. BFS Capital requires companies to be in business for at least 1 month
Only U.S. citizens and permanent residents can apply for a loan. To qualify, applicants may need to provide the following documentation:
- Proof of Identity
- Proof of Income
What is the estimated funding time for a business loan via BFS Capital?
BFS Capital can approve (or deny) a loan application within 24 hours and fund business loans within 2 business days of approval.
3301 N. University Drive, Suite 300
Coral Springs, FL 33065 USA
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|Credit Score Range||
300 - 850
|Immigration Status Considered||
|Minimum Months in Business||1|
|Verification Documents Required||
|Loan Amount||$5K - $500K|
|Loan Term (Months)||4 - 21|
|APR (Fee-Based Product)||6.37% - 195%|