Everest Business Funding Review

Everest Business Funding is a business financing offering by Everest Business Funding, based in Doral, FL. Founded in 2015, Everest Business Funding offers access to small business loans in 50 states (and Washington, DC).

What are Everest Business Funding’s rates?

Everest Business Funding offers a business financing product but they do not disclose their rates.

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 business loan?

Everest Business Funding considers business loan applications for business purposes, such as:

• Business Debt Refinance
• Equipment Purchase
• Lease Improvement
• New Location
• Product or Service Expansion
• Working capital

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

• Merchant Cash Advances

Does Everest Business Funding charge prepayment fees?

Yes, Everest Business Funding 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 Everest Business Funding?

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

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

Everest Business Funding offers small 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 Everest Business Funding?

Everest Business Funding requires companies to be in business for at least 3 months. Businesses must have a minimum annual revenue of $10,000 to be considered.

Applicants with a credit score of at least 500 and up to 850 may be eligible for Everest Business Funding.

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 Everest Business Funding. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Everest Business Funding. Permanent resident / green card holders are also eligible to apply.

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

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