Question 1

What are BriteCap rates?

Accepted Answer

BriteCap offers a business financing product but they do not disclose their rates.

Question 2

Does BriteCap charge an origination fee?

Accepted Answer

No, BriteCap 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.

Question 3

Does BriteCap charge a late fee?

Accepted Answer

Yes, BriteCap charges borrowers with a late payment fee of up to $15 .

Question 4

Does BriteCap charge prepayment fees?

Accepted Answer

No, BriteCap does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the business loan off early.

Question 5

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

Accepted Answer

BriteCap offers small business loans with terms ranging from 3 to 24 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.

Question 6

What do you need to qualify for BriteCap Merchant Cash Advances?

Accepted Answer

BriteCap Merchant Cash Advances requires companies to be in business for at least 12 months. Businesses must have a minimum annual revenue of $100,000 to be considered. BriteCap Merchant Cash Advances does not require or does not disclose a credit score minimum. The minimum age to be eligible is 18... Learn More at SuperMoney.com

Question 7

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

Accepted Answer

BriteCap can fund small business loans as soon as 1 business day.

Question 8

Does BriteCap Merchant Cash Advances report your account activity to credit bureaus?

Accepted Answer

Yes, BriteCap Merchant Cash Advances reports to the following credit bureau: Experian Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.

Question 9

Does BriteCap Financial LLC perform a hard credit pull?

Accepted Answer

As is the case with most providers, a hard credit pull will likely occur if you accept an offer after checking your rates. BriteCap allows you to check your rates with a soft credit pull.

BriteCap Merchant Cash Advances

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