In Advance Capital Small Business Funding
in Business Loans from In Advance CapitalUnaffiliated
|Loan Amount||$5,000 - $500,000|
|Loan Term (Months)||3 - 18 months|
In Advance Capital Small Business Funding Review
In advance is a business financing offering by In Advance Capital, based in New York, NY. Founded in 2016, In Advance Capital offers access to small business loans in 50 states (and Washington, DC).
What are In advance’s rates?
In advance offers a business financing product but they do not disclose their rates.
Does In advance charge an origination fee?
Yes, In advance charges a loan origination fee of 3% to 5% of the business loan amount. In advance deducts the fee directly from your business 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 set on the purpose of the business loan?
In advance considers business 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 small business loans does In advance offer?
Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. In advance provides access to the following business loan types:
- Lines of Credit
- Merchant Cash Advances
- ACH Cash Flow Loans
Does In advance charge prepayment fees?Yes, In advance charges additional fees to borrowers who pay off their small business 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 business loan early.
How much can you borrow from In advance?
Business loan amounts start at $5,000 and go up to $500,000.
What is the maximum business loan term you can get with In advance?
In advance offers small 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 Small Business Funding?
In Advance Capital Small Business Funding 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 may be eligible for In Advance Capital Small Business Funding.
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 Small Business Funding. Their rates fall within the limits of The Military Lending Act.
U.S. citizens are, of course, eligible for the services offered by In Advance Capital Small Business Funding. Permanent resident / green card holders are also eligible to apply.
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?
In advance can approve (or deny) a business loan application within 3 hours and fund small 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|
|Employment Statuses Considered||
|Immigration Status Considered||
|Minimum Months in Business||6|
|Verification Documents Required||
|Loan Amount||$5,000 - $500,000|
|Loan Term||3 - 18 months|