One Park Financial
in Business Loans from One Park Financial LLCClaimed
|Loan Amount||$2,500 - $750,000|
|APR (Fixed APR)||N/A|
|Loan Term (Months)||3 - 12 months|
One Park Financial Review
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 49 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
What types of business loans does One Park Financial offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. One Park Financial provides access to the following business loan types:
- Unsecured term loans
- Secured Term Loans
- Lines of Credit
- Merchant Cash Advances
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 $2,500 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 3 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 $30,000 to be considered.Applicants with a credit score of at least 500 and up to 850 may be 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.
U.S. citizens are, of course, eligible for the services offered by One Park Financial. Permanent resident / green card holders are also eligible to apply.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Recent bank statements
- Business formation documents
- Driver's license
- Government issued photo ID
- U.S. tax identification number
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?
Yes, 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 may help improve your credit.
Message From One Park Financial LLC
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|Late Fee Amount||$0|
|No Origination Fee|
|No Prepayment Fee|
|Credit Score Range||500 - 850|
|Employment Statuses Considered||Self-Employed|
|Immigration Status Considered||
|Minimum Months in Business||3|
|Verification Documents Required||
|Approval Speed||72 hours|
|Credit Bureau Reporting||TransUnion|
|Funding Time Range||7 - 10 days|
|Pre-Approved Soft Credit Inquiry|
|Loan Amount||$2,500 - $750,000|
|Loan Term||3 - 12 months|
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