Finance Factory is a lending platform based in Towson, MD. It was founded in 2006 and offers access to business loans in 50 states (and Washington, DC)
Finance Factory is not a direct lender or loan broker, so it has no control over the interest rates lenders charge. These vary depending the loan amount, repayment period and creditworthiness of the business and its owners. One of the advantages of using Finance Factory is that lenders compete for your business and you can pick the lender with the lowest interest rates and fees.
Maximum loan amounts vary by lender. One of the advantages of Finance Factory is being able to filter from many lenders to those who can fund the loan you need. Loan amounts start at $5,000 and go up to $500,000.
Applicants with a credit score of at least 640 can apply for a loan via Finance Factory.
Finance Factory does not require borrowers to have been in business for a minimum number of years. Active duty servicemembers and their covered dependents cannot apply for a loan via Finance Factory. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.
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