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  Boefly

Boefly

in Business Loans from Boefly

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Boefly

Unaffiliated

in Business Loans from Boefly

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Highlights
Highlights
Loan Amount $1,000 - $5,000,000
APR  (Fixed APR) 0% - 150%
Loan Term Up to 0 months

Boefly Review

Where does Boefly do business?

Boefly is a business financing offering by Boefly, based in New York, NY. Founded in 2010, Boefly offers access to business loans in 50 states (and Washington, DC).

What are Boefly’s rates?

Boefly offers a fixed APR business financing product that ranges from 0% APR up to 150% APR.

Does Boefly charge an origination fee?

Yes, Boefly charges a loan origination fee.

What limitations does Boefly set on the purpose of the loan?

Boefly considers loan 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

What types of business loans does Boefly offer?

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

  • Unsecured term loans
  • Secured Term Loans
  • Lines of Credit
  • SBA Loans
  • Invoice Financing
  • Merchant Cash Advances
  • Commercial Real Estate
  • ACH Cashflow Loans
  • Bridge Loans

Does Boefly charge prepayment fees?

Yes, Boefly 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 Boefly?

Loan amounts start at $1,000 and go up to $5,000,000.

What is the maximum loan term you can get with Boefly?

Boefly offers business loans with a maximum term of 0 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 Boefly?

Boefly does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.

Applicants with a credit score of at least 300 and up to 850 are eligible for Boefly.

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 Boefly 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, permanent residents, and non-residents can all apply for a Boefly loan.

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

  • Proof of income
  • Proof of identity
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Contact

  • Headquarters
  •   50 W 72nd St
    Apt C4
    New York, NY 10023 USA
  •   Visit Site

About Boefly

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  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

Credit Score Range 300 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
  • Non-Resident
Employment Statuses Considered
  • Self-Employed
Military Status
  • Non-Military
  • Veterans
Minimum Revenue $0
Verification Documents Required
  • Proof of Identity
  • Proof of Income
Loan Amount $1K - $5M
Loan Term Up to 0
APR (Fixed APR) 0% - 150%

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