Where does OQUITY do business?
OQUITY is a direct lender based in Garden City, NY. It was founded in 2013 and offers access to business loans in 50 states (and Washington, DC).
What are OQUITY’s rates?
OQUITY offers business loans with fixed APRs starting from 20% to 150%.
Does OQUITY charge an origination fee?
Yes, OQUITY charges a loan origination fee.
What limitations does OQUITY set on the purpose of the loan?
OQUITY considers loan applications for business purposes, such as:
What types of business loans does OQUITY offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. OQUITY provides access to the following business loan types:
- Merchant Cash Advances
- ACH Cashflow Loans
Does OQUITY charge prepayment fees?Yes, OQUITY 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 OQUITY?Loan amounts start at $5,000 and go up to $1,000,000.
What do you need to qualify for a loan with OQUITY?
Applicants with a credit score of at least 300 can apply for a loan via OQUITY. OQUITY requires companies to be in business for at least 6 months. Businesses must have a minimum annual revenue of $10,000.
Only U.S. citizens and permanent residents can apply for a loan. To qualify, applicants may need to provide the following documentation:
- Proof of Identity
- Proof of Income
What is the estimated funding time for a business loan via OQUITY?
OQUITY can provide a credit approval decision in less than an hour and fund the loan within 1 business day.
100 Quentin Roosevelt Boulevard
Garden City, NY 11530 USA
- Visit Site
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|Credit Score Range||
300 - 850
|Immigration Status Considered||
|Employment Statuses Considered||
|Minimum Months in Business||6|
|Verification Documents Required||
|Loan Amount||$5K - $1M|
|APR||20% - 150%|