One Park Financial
in Business Loans from One Park Financial LLCClaimed Visit Site Get Personalized Rates
|Loan Amount||$5,000 - $750,000|
|APR (Fixed APR)||N/A|
|Loan Term||12 months|
One Park Financial Review
Where does One Park Financial do business?
One Park Financial is a business financing offering by One Park Financial LLC, based in Coconut Grove, FL. Founded in 2010, One Park Financial LLC offers access to business loans in 50 states (and Washington, DC).
What are One Park Financial’s rates?
One Park Financial offers a fixed APR business financing product but they do not disclose their rates.
Does One Park Financial charge an origination fee?
No, One Park Financial does not charge a loan origination fee. A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.
What limitations does One Park Financial set on the purpose of the loan?
One Park Financial considers loan applications for business purposes, such as:
- Equipment Purchase
- New Location
- Product or Service Expansion
- Technology Investment
- Working capital
Does One Park Financial charge a late fee?
No, One Park Financial will not charge you a late fee.
Does One Park Financial charge prepayment fees?
No, One Park Financial does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
How much can you borrow from One Park Financial?
Loan amounts start at $5,000 and go up to $750,000.
What is the maximum loan term you can get with One Park Financial?
One Park Financial offers business loans with terms ranging from 12 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 One Park Financial?
One Park Financial requires companies to be in business for at least 3 months. Businesses must have a minimum annual revenue of $60,000 to be considered.
Applicants with a credit score of at least 500 and up to 850 are eligible for One Park Financial.
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. APRs for the One Park Financial product fall outside of the MLA limits and as a result the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under 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
- Business formation documents
- Driver's license
- Government issued photo ID
What is the estimated funding time for a business loan via One Park Financial?
One Park Financial can approve (or deny) a loan application within 72 hours and fund business loans within 7 business days of approval.
Does One Park Financial report your account activity to credit bureaus?
One Park Financial 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 can help improve your credit score.
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|No Origination Fee|
|No Prepayment Fee|
|Late Fee Amount||$0|
|Credit Score Range||
500 - 850
|Immigration Status Considered||
|Employment Statuses Considered||
|Minimum Months in Business||3|
|Verification Documents Required||
|Loan Amount||$5K - $750K|
|Loan Term||12 months|