Where does Quarterspot do business?
Quarterspot is a direct lender based in Arlington, VA. It was founded in 2013 and offers access to business loans in 46 states (and Washington, DC).
What are Quarterspot’s rates?
Quarterspot offers business loans with fixed APRs starting from 10% to 60%.
Does Quarterspot charge an origination fee?
Yes, Quarterspot charges a loan origination fee of 1% to 4% of the loan amount. Quarterspot deducts the fee directly from your 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 Quarterspot set on the purpose of the loan?
Quarterspot considers loan applications for business purposes, such as:
What types of business loans does Quarterspot offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Quarterspot provides access to the following business loan types:
- Unsecured term loans
Does Quarterspot charge prepayment fees?
No, Quarterspot 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 Quarterspot?Loan amounts start at $5,000 and go up to $200,000.
What is the maximum loan term you can get with Quarterspot?
Quarterspot offers business loans with terms ranging from 9 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 a loan with Quarterspot?
Applicants with a credit score of at least 550 can apply for a loan via Quarterspot. Quarterspot requires companies to be in business for at least 12 months. Businesses must have a minimum annual revenue of $16,000.
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 Quarterspot?
Quarterspot can approve (or deny) a loan application within 24 hours and fund business loans within 1 business day of approval.
Does Quarterspot report loan payments to credit bureaus?Quarterspot may report credit data to the following credit reporting agencies:
1655 Fort Myer Dr. Ste 700
Arlington, VA 22209 USA
- Visit Site
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- South Carolina
- West Virginia
|No Prepayment Fee|
|Origination Fee||1% - 4%|
|Credit Score Range||
550 - 850
850 300 550
|Immigration Status Considered||
|Employment Statuses Considered||
|Minimum Months in Business||12|
|Verification Documents Required||
|Loan Amount||$5K - $200K|
|Loan Term (Months)||9 - 18|
|APR||10% - 60%|