Where does Elevate Funding do business?
Elevate Funding is a direct lender based in Gainesville, FL. It was founded in 2015 and offers access to business loans in 50 states (and Washington, DC).
What are Elevate Funding’s rates?
Elevate Funding offers business loans with fixed APRs starting from % .
Does Elevate Funding charge an origination fee?
Yes, Elevate Funding charges a loan origination fee.
What limitations does Elevate Funding set on the purpose of the loan?
Elevate Funding considers loan applications for business purposes, such as:
- Business Debt Refinance
- Equipment Purchase
- New Location
- Product or Service Expansion
- Working capital
What types of business loans does Elevate Funding offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Elevate Funding provides access to the following business loan types:
- Merchant Cash Advances
- ACH Cashflow Loans
Does Elevate Funding charge prepayment fees?Yes, Elevate Funding 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.
What do you need to qualify for a loan with Elevate Funding?
Applicants with a credit score of at least 300 can apply for a loan via Elevate Funding. Elevate Funding requires companies to be in business for at least 3 months. Businesses must have a minimum annual revenue of $12,000.
Only U.S. citizens and permanent residents can apply for a loan Elevate Funding only considers borrowers who are employed or self-employed. To qualify, applicants may need to provide the following documentation:
- Proof of Income
What is the estimated funding time for a business loan via Elevate Funding?
Elevate Funding can approve (or deny) a loan application within 24 hours and fund business loans within 1 business day of approval.
5200 NW 43rd Street
Gainesville, FL 32606 USA
- Visit Site
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
- U.S. Citizen
- U.S. Permanent Resident
- Employed Full-Time
- Employed Part-Time
- Active Duty Military
- Military Dependent
- Proof of Income