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GRP Funding

in Business Loans

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GRP Funding

Unaffiliated

in Business Loans

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Overview

Where does GRP Funding do business?

GRP Funding is a direct lender based in Springfield, MA. It was founded in 2007 and offers access to business loans in 50 states (and Washington, DC)..

Does GRP Funding charge an origination fee?

Yes, GRP Funding charges a loan origination fee. 

What limitations does GRP Funding set on the purpose of the loan?

Some lenders only provide business loans for certain purposes. GRP Funding offers considers loan applications for the following reasons:

  • Equipment purchase
  • New location
  • Product or service expansion
  • Working capital
  • Business debt refinance

What types of business loans does GRP Funding offer?

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

Does GRP Funding charge a late fee?

No, GRP Funding will not charge you a late fee. Yes, GRP Funding charges borrowers with a late payment fee.

Does GRP Funding charge prepayment fees?

Yes, GRP Funding 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 GRP Funding?

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

What is the maximum loan term you can get with GRP Funding?

GRP Funding offers business loans with terms ranging from 4 to 18 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 a loan with GRP Funding?

GRP Funding doesn’t disclose its credit score minimum.

GRP Funding requires businesses to be in business for at least 9 months in business. Active duty servicemembers and their covered dependents are eligible to apply for a loan via GRP Funding. Its rates and terms fall within the limits of The Military Lending Act.

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

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Contact

  • Headquarters
  • 1350 Main Street
    1st Floor
    Springfield, MA 01103 USA
  • Visit Site

Availability

Available in 50 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Months in Business
9
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Minimum Revenue
$8,500
Loan Term (Months)
4 - 18
1 300
Loan Amount
$5K - $500K
$25 $1M+

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