Last Updated: 06/21/2025
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Highlights
Amount Range
$1,000 - $5,000,000
APR (Fixed APR)
0% - 150%(Verified 06/21/2024)
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Loan Term (Months)
Up to 0
Boefly Small Business Loans Review
Boefly is a business financing offering by Boefly, based in New York, NY. Founded in 2010, Boefly offers access to small business loans in 50 states (and Washington, DC).
Boefly FAQ
What are Boefly 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 .
Does Boefly charge prepayment fees?
Yes, Boefly may charge additional fees to borrowers who pay off their small business loans sooner than anticipated. Take this into consideration when choosing a business loan product because prepayment penalties can reduce or even cancel the interest savings of repaying a business loan early.How much can you borrow from Boefly?
Business loan amounts start at $1,000 and go up to $5,000,000.
What is the maximum business loan term you can get with Boefly?
Boefly offers small 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 Small Business Loans?
Boefly Small Business Loans requires companies to be in business for at least month Businesses don't have to meet a minimum annual revenue to be considered.
When it comes to credit scores, Boefly Small Business Loans doesn't have a set minimum or maximum. People with all types of credit scores can apply.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Boefly Small Business Loans. An uncommon feature is for lenders to offer their services to non-residents. Boefly is one of the few that does.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Proof of identity
Does Boefly perform a hard credit pull?
Yes, Boefly 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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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.