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Chase Business Quick Capital

in Business Loans

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Chase Business Quick Capital

Unaffiliated

in Business Loans

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Overview

Chase Business Quick Cash is a partnership between JPMorgan Chase and OnDeck Capital. The new business loan product was launched by Chase in April 2016. 

How Does Chase Business Quick Cash Work?

For now, Chase is only offering Quick Cash to prescreened business that are already clients of the New York megabank. Chase has about 4 million small-business customers. 

Businesses that are prescreened for Chase Business Quick Capital receive a personalized loan offer. Prescreened customers must sign in to their Chase online account to see the selection of loan amounts available. Once they select the loan they want and sign the necessary electronic documents, the loan amount could be available within the same day. The loan has a fixed daily repayment that is automatically withdrawn from the company's Chase business checking account.

What Are Chase Business Quick Capital's Interest Rates?

Interest rates range from 9% to 25% APR depending on -- among other things -- your credit history, revenue, and years in business. 

How Much Money Can I Borrow From Chase Business Quick Capital?

Loan amounts range from $5,000 to $250,000 and repayment periods go from three to 24 months.

Which States Does Chase Business Quick Capital Operate In?

Chase Business Quick Cash is currently (January 2017) available in Arizona, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Michigan, New Jersey, Nevada, New York, Ohio, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin, and West Virginia.

What Is Chase Business Quick Capital Process Like?

The application process can take less than a day to complete. However, it is currently only available to existing Chase small business customers. Chase already has detailed financial information on these borrowers, so you would expect the application process to be fast.

How Is Chase Business Quick Capital Better than Other Lenders?

- The partnership between Chase and OnDeck makes it easier and faster for small businesses that already bank with Chase to qualify for a loan.

- The interest rates are competitive (9% to 25% APR).

- Loans range from $5,000 to $250,000

- Fast application and funding process.

- No prepayment penalties

On the other hand,

- There is a 1% origination fee, which will be deducted from the loan amount. Consider the origination fee when deciding how much you need to borrow.

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Contact

  • Headquarters
  • 270 Park Avenue
    New York, NY 10017 USA
  • Visit Site

Availability

Available in 23 States
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Kentucky
  • Louisiana
  • Michigan
  • Nevada
  • New Jersey
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Texas
  • Utah
  • Washington
  • West Virginia
  • Wisconsin

Feature Breakdown

No Prepayment Fee
Origination Fee
1%
Credit Score Range
560 - 850
850 300 560
Loan Term (Months)
Up to
24
Loan Amount
Starting at
$5,000
APR
9% - 25%
0% 100%+

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