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).
What are GRP Funding’s rates?
GRP Funding offers business loans with fixed APRs starting from 20% to 100%.
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?
GRP Funding considers loan applications for business purposes, such as:
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:
- Unsecured term loans
- Merchant Cash Advances
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 companies to be in business for at least 9 months. Businesses must have a minimum annual revenue of $8,500.
Only U.S. citizens and permanent residents can apply for a loan. To qualify, applicants may need to provide the following documentation:
- Proof of Identity
- Proof of Income
1350 Main Street
Springfield, MA 01103 USA
- Visit Site
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|Immigration Status Considered||
|Employment Statuses Considered||
|Minimum Months in Business||9|
|Verification Documents Required||
|Loan Amount||$5K - $500K|
|Loan Term (Months)||4 - 18|
|APR||20% - 100%|