Coast Funding Business Loans

Coast Funding Business Loans Review

Coast Funding Loans is a business financing offering by Coast Funding Services LLC, based in San Diego, CA. Founded in 2020, Coast Funding Services LLC offers access to small business loans in 50 states (and Washington, DC).

Coast Funding Loans FAQ

What are Coast Funding Loans’s rates?

Coast Funding Loans offers a business financing product but they do not disclose their rates.

Does Coast Funding Loans charge an origination fee?

Yes, Coast Funding Loans charges a loan origination fee.

What types of small business loans does Coast Funding Loans offer?

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

• Lines of Credit

Does Coast Funding Loans charge prepayment fees?

Yes, Coast Funding Loans charges additional fees to borrowers who pay off their small business 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 business loan early.

How much can you borrow from Coast Funding Loans?

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

What is the maximum business loan term you can get with Coast Funding Loans?

Coast Funding Loans offers small business loans with terms ranging from 6 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.

What do you need to qualify for Coast Funding Business Loans?

Coast Funding Business Loans does not require borrowers to have been in business for a minimum number of years. Businesses must have a minimum annual revenue of $100,000 to be considered.

Applicants with a credit score that ranges from 600 may be eligible for Coast Funding Business Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

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. Active duty service members and their covered dependents are eligible to apply for a loan via Coast Funding Business Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Coast Funding Business Loans.

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

• Driver's license
• Proof of identity
• Proof of citizenship or residence permit