Overview

Where does Everest Business Funding do business?

Everest Business Funding is  a marketplace lender based in Doral, FL. It was founded in 2015 and offers access to business loans in 50 states (and Washington, DC)..

Does Everest Business Funding charge an origination fee?

Yes, Everest Business Funding charges a loan origination fee of $199 to $2,900 

What limitations does Everest Business Funding set on the purpose of the loan?

Some lenders only provide business loans for certain purposes. Everest Business Funding offers considers loan applications for the following reasons:

• Equipment purchase
• New location
• Product or service expansion
• Working capital
• Business debt refinance

What types of business loans does Everest Business 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. Everest Business Funding provides access to the following business loan types:

• Merchant cash advances

Does Everest Business Funding charge a late fee?

No, Everest Business Funding will not charge you a late fee. Yes, Everest Business Funding charges borrowers with a late payment fee.

Does Everest Business Funding charge prepayment fees?

Yes, Everest Business 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.

How much can you borrow from Everest Business Funding?

Loan amounts start at $5,000 and go up to $500,000.

What is the maximum loan term you can get with Everest Business Funding?

Everest Business Funding offers business loans with terms ranging from 2 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 a loan with Everest Business Funding?

Applicants with a credit score of at least 500 can apply for a loan via Everest Business Funding.

Everest Business Funding requires businesses to be in business for at least 3 months in business. Active duty servicemembers and their covered dependents are eligible to apply for a loan via Everest Business Funding. Its rates and terms fall within the limits of The Military Lending Act.

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

What is the estimated funding time for a business loan via Everest Business Funding?

Everest Business Funding can approve (or deny) a loan application within 1 hour and fund business loans within 1 business day of approval.

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