Green Capital Credit is a business loan provider based in New York City. It is another trade name of Yellowstone Capital. The company was launched in 2012 and is managed by Isaac D. Stern. Green Capital is BBB accredited and has an A+ rating. The loans are designed to provide small and medium-sized businesses with working capital.
How Does Green Capital Credit Work?
Green Capital Credit offers merchant cash advances. This type of business loan requires minimal paperwork and don’t require collateral. The cost of the loan is calculated as a factor of the loan amount and is added to the loan balance. For example, if you borrow $10,000 and you receive a factor rate of 1.5, you will need to repay $15,000 (10,000 x 1.5).
Repayments are then calculated as a percentage of daily receivables until the total loan amount is repaid. This means borrowers don’t have to worry about a fixed loan payment. If sales are slow the cash advance payment is also smaller.
What Are Green Capital Credit’ Terms and Interest Rates?
Green Capital calculates interest rates as a factor rate of the loan. The APR equivalent charged by ranges from 70% to 350%.
The factor rates vary widely depending on the size of the loan and the credit profile of the borrower. Someone with an excellent credit score may qualify for a 1.35 factor rate. If your credit is bad, you may have to pay a factor rate of up to 4.9.
Loan terms also vary widely but the majority of the loans go on for 6 months.
How Much Can I Borrow From Green Capital Credit?
Green Capital funds loans ranging from $5,000 to $500,000. How much a borrower qualifies for depends on the business’s revenue and the borrower’s credit profile.
What Is Green Capital Credit’ Application Process Like?
Borrowers can apply online or over the phone. A loan officer will call you and walk you through your options. Green Capital will send an email with a loan application for you to fill in and sign. To qualify a borrower must provide access to four months of credit card and bank statements. Businesses that don't process credit cards must provide six months. Applications are processed fast. A loan application processed today at 10pm could be funded before you open for business tomorrow. In general, funds are deposited within 3 to 7 days.
The initial application only requires a soft credit pull but there will be a hard credit inquiry if you sign the loan agreement.
How Is Green Capital Credit Better Than Other Lenders?
Green Capital offers fast and flexible terms that differentiate it from the crowd of business loan providers. Here are some features we liked:
- Fund deposits can be in your bank account within the 24 hours.
- Eligibility is based on business revenue not just credit scores.
- Loan amounts range from $5,000 to $500,000.
- Accessible eligibility requirements.
- Flexible loan repayments.
At the same time, there are some things you should consider about Green Capital Credit:
- Interest rates are high.
- Businesses with good credit can probably qualify for better rates.
- Loan terms are shorter than installment loans.
Starting at 5%
Business Loan Type
- Unsecured Term Loan
- Merchant Cash Advance
Intended Use of Funds
- Equipment Purchase
- New Location
- Product or Service Expansion
- Working Capital
Approval Speed (Hours)
$5000 - $500000
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