Financial Pacific Leasing Review

Where does Financial Pacific Leasing do business?

Financial Pacific Leasing is a business financing offering by Financial Pacific Leasing, a bank based in Federal Way, WA. Founded in 1975, Financial Pacific Leasing offers access to business loans in 50 states (and Washington, DC).

What are Financial Pacific Leasing’s rates?

Financial Pacific Leasing offers a business financing product that ranges from 10% APR up to 30% APR.

Does Financial Pacific Leasing charge an origination fee?

Yes, Financial Pacific Leasing charges a loan origination fee.

What limitations does Financial Pacific Leasing set on the purpose of the loan?

Financial Pacific Leasing considers loan applications for business purposes, such as:

• Product or Service Expansion
• Working capital

What types of business loans does Financial Pacific Leasing offer?

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

• Secured Term Loans

Does Financial Pacific Leasing charge prepayment fees?

Yes, Financial Pacific Leasing 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 Financial Pacific Leasing?

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

What is the maximum loan term you can get with Financial Pacific Leasing?

Financial Pacific Leasing offers business loans with a maximum term of 60 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 Financial Pacific Leasing?

Financial Pacific Leasing does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.

Financial Pacific Leasing does not require or does not disclose a credit score minimum.

Financial Pacific Leasing does not have or does not disclose a minimum annual income eligibility requirement.

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 Financial Pacific Leasing. Their rates fall within the limits of The Military Lending Act.

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

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

• Proof of income
• Proof of identity