Bolstr is a marketplace lender based in Chicago, IL. It was founded in 2013 and offers access to business loans in 50 states (and Washington, DC)
Bolstr offers business loans with APRs ranging from 8% and up to 25%.
Yes, Bolstr charges a loan origination fee.
Some lenders only provide business loans for certain purposes. Bolstr offers considers loan applications for the following reasons:
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Bolstr provides access to the following business loan types:
Yes, Bolstr charges borrowers with a late payment fee.
Yes, Bolstr 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.
Loan amounts start at $25,000 and go up to $500,000.
Bolstr offers business loans with a maximum term of 60 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.
Applicants with a credit score of at least 640 can apply for a loan via Bolstr.
Bolstr does not require borrowers to have been in business for a minimum number of years. Active duty servicemembers and their covered dependents cannot apply for a loan via Bolstr. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.
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