InterNex Capital Business Loans Review

InterNex is a business financing offering by InterNex Capital, based in New York, NY. Founded in 2015, InterNex Capital offers access to small business loans in 46 states (and Washington, DC).

What are InterNex’s rates?

InterNex offers a business financing product that ranges from 7.99% APR up to 18.99% APR.

Does InterNex charge an origination fee?

Yes, InterNex charges a loan origination fee of 2.25% to 4% of the business loan amount. InterNex 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 InterNex set on the purpose of the business loan?

InterNex 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 InterNex 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. InterNex provides access to the following business loan types:

• Lines of Credit

Does InterNex charge prepayment fees?

Yes, InterNex 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 InterNex?

Business loan amounts start at $250,000 and go up to $10,000,000.

What is the maximum business loan term you can get with InterNex?

InterNex offers small business loans with terms ranging from 1 to 12 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 InterNex Capital Business Loans?

InterNex Capital Business Loans does not require borrowers to have been in business for a minimum number of years. Businesses must have a minimum annual revenue of $83,000 to be considered.

InterNex Capital Business Loans does not require or does not disclose a credit score minimum.

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 InterNex Capital Business Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by InterNex Capital Business Loans. 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 InterNex?

InterNex can approve (or deny) a business loan application within 72 hours and fund small business loans within 4 business days of approval.

Does InterNex Capital Business Loans report your account activity to credit bureaus?

Yes, InterNex Capital Business Loans reports your account activity to the following credit reporting agencies:

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.