Fast Business Financial Review

Where does Fast Business Financial do business?

Fast Business Financial is a business financing offering by Fast Business Financial, LLC, based in Los Angeles, CA. Founded in 2014, Fast Business Financial, LLC offers access to business loans in 50 states (and Washington, DC).

What are Fast Business Financial’s rates?

Fast Business Financial offers a variable APR business financing product that ranges from 3% APR up to 12% APR.

Does Fast Business Financial charge an origination fee?

Yes, Fast Business Financial charges a loan origination fee.

What limitations does Fast Business Financial set on the purpose of the loan?

Fast Business Financial considers loan applications for business purposes, such as:

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

What types of business loans does Fast Business Financial offer?

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

• Unsecured term loans
• Secured Term Loans
• Lines of Credit
• SBA Loans
• Invoice Financing
• Merchant Cash Advances
• Commercial Real Estate
• ACH Cashflow Loans
• Bridge Loans

Does Fast Business Financial charge prepayment fees?

No, Fast Business Financial does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from Fast Business Financial?

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

What is the maximum loan term you can get with Fast Business Financial?

Fast Business Financial offers business loans with a maximum term of 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 Fast Business Financial?

Fast Business Financial requires companies to be in business for at least 6 months. Businesses must have a minimum annual revenue of $50,000 to be considered.

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 Fast Business Financial. Their rates fall within the limits of The Military Lending Act.

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

• Proof of income
• Business formation documents
• Government issued photo ID