Eagle Business Credit Review

Where does Eagle Business Credit do business?

Eagle Business Credit is a business financing offering by Eagle Business Credit, a direct lender based in Kennesaw, GA. Founded in 2013, Eagle Business Credit offers access to business loans in 50 states (and Washington, DC).

What are Eagle Business Credit’s rates?

Eagle Business Credit offers a business financing product of 0%.

Does Eagle Business Credit charge an origination fee?

Yes, Eagle Business Credit charges a loan origination fee starting at $250

What limitations does Eagle Business Credit set on the purpose of the loan?

Eagle Business Credit considers loan applications for business purposes, such as:

• Business Debt Refinance
• Equipment Purchase
• Hiring
• Inventory
• Lease Improvement
• New Location
• Payroll
• Product or Service Expansion
• Technology Investment
• Working capital

What types of business loans does Eagle Business Credit offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Eagle Business Credit provides access to the following business loan types:

• Invoice Financing

Does Eagle Business Credit charge prepayment fees?

Yes, Eagle Business Credit 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.

How much can you borrow from Eagle Business Credit?

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

What is the maximum loan term you can get with Eagle Business Credit?

Eagle Business Credit offers business loans with terms ranging from 1 to 12 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 Eagle Business Credit?

Eagle Business Credit does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.

Applicants with a credit score of at least 300 and up to 850 are eligible for Eagle Business Credit.

Eagle Business Credit does not have or does not disclose a minimum annual income eligibility requirement.

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. APRs for the Eagle Business Credit product fall outside of the MLA limits and as a result the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

Only U.S. citizens and permanent residents can apply for a loan.

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

• Proof of income
• Proof of identity