In Advance Capital
in Business Loans from In Advance CapitalUnaffiliated
|Loan Amount||$5,000 - $500,000|
|Loan Term||3 - 18 months|
In Advance Capital Review
Where does In Advance Capital do business?
In Advance Capital is a business financing offering by In Advance Capital, a direct lender based in New York, NY. Founded in 2016, In Advance Capital offers access to business loans in 50 states (and Washington, DC).
What are In Advance Capital’s rates?
In Advance Capital offers a business financing product but they do not disclose their rates.
Does In Advance Capital charge an origination fee?
Yes, In Advance Capital charges a loan origination fee of 3% to 5% of the loan amount. In Advance Capital deducts the fee directly from your loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.
What limitations does In Advance Capital set on the purpose of the loan?
In Advance Capital considers loan applications for business purposes, such as:
- Business Debt Refinance
- Equipment Purchase
- Lease Improvement
- New Location
- Product or Service Expansion
- Working capital
What types of business loans does In Advance Capital offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. In Advance Capital provides access to the following business loan types:
- Lines of Credit
- Merchant Cash Advances
- ACH Cashflow Loans
Does In Advance Capital charge prepayment fees?Yes, In Advance Capital 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 In Advance Capital?
Loan amounts start at $5,000 and go up to $500,000.
What is the maximum loan term you can get with In Advance Capital?
In Advance Capital offers business loans with terms ranging from 3 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 In Advance Capital?
In Advance Capital requires companies to be in business for at least 6 months. Businesses don't have to meet a minimum annual revenue to be considered.
Applicants with a credit score of at least 450 and up to 850 are eligible for In Advance Capital.
In Advance Capital does not have or does not disclose a minimum annual income eligibility requirement. In Advance Capital only considers borrowers who are employed.
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 In Advance Capital. 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
What is the estimated funding time for a business loan via In Advance Capital?
In Advance Capital can approve (or deny) a loan application within 3 hours and fund business loans within 1 business day of approval.
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|Origination Fee||3% - 5%|
|Credit Score Range||
450 - 850
|Immigration Status Considered||
|Employment Statuses Considered||
|Minimum Months in Business||6|
|Verification Documents Required||
|Loan Amount||$5K - $500K|
|Loan Term||3 - 18 months|