BFS Capital Business Loans Review

BFS Capital is a business financing offering by BFS Capital, based in Coral Springs, FL. Founded in 2002, BFS Capital offers access to small business loans in 50 states (and Washington, DC).

What are BFS Capital’s rates?

This is a fee-based business loan. This means borrowers pay a percentage of the business loan balance as a fixed-fee instead of an ongoing APR. BFS Capital offers small business loans with a finance charge ranging from 1.11% to 1.48% of the business loan's amount.

The equivalent APR will vary depending on the terms. SuperMoney tried to run the numbers and a typical APR for this product ranges from 6.37% APR up to 195% APR.

Does BFS Capital charge an origination fee?

No, BFS Capital does not charge a loan origination fee. A loan origination fee is what some lenders charge for processing, underwriting, and funding a business loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

What limitations does BFS Capital set on the purpose of the business loan?

BFS Capital considers business loan applications for business purposes, such as:

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

What types of small business loans does BFS Capital offer?

Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. BFS Capital provides access to the following business loan types:

• Unsecured Term Business Loans
• Merchant Cash Advances

Does BFS Capital charge prepayment fees?

Yes, BFS Capital charges additional fees to borrowers who pay off their small business 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 business loan early.

How much can you borrow from BFS Capital?

Business loan amounts start at $5,000 and go up to $500,000.

What is the maximum business loan term you can get with BFS Capital?

BFS Capital offers small 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 BFS Capital Business Loans?

BFS Capital Business Loans requires companies to be in business for at least 24 months. Businesses don't have to meet a minimum annual revenue to be considered.

When it comes to credit scores, BFS Capital doesn't have a set minimum or maximum. People with all types of credit scores can apply.

U.S. citizens are, of course, eligible for the services offered by BFS Capital Business Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Proof of income
• Proof of identity

What is the estimated funding time for a business loan via BFS Capital?

BFS Capital can approve (or deny) a business loan application within 24 hours and fund small business loans within 2 business days of approval.