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  Quarterspot Business Loans

Quarterspot Business Loans

in Business Loans from Quarterspot

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Quarterspot Business Loans

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in Business Loans from Quarterspot

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Highlights
Loan Amount $5,000 - $200,000
APR 10% - 60%
Loan Term (Months) 9 - 18 months

Quarterspot Business Loans Review

Quarterspot Business Loans is a business financing offering by Quarterspot, based in Arlington, VA. Founded in 2013, Quarterspot offers access to business loans in 46 states (and Washington, DC).

Quarterspot Business Loans FAQ

What are Quarterspot Business Loans’s rates?

Quarterspot Business Loans offers a business financing product that ranges from 10% APR up to 60% APR.

Does Quarterspot Business Loans charge an origination fee?

Yes, Quarterspot Business Loans charges a loan origination fee of 1% to 4% of the loan amount. Quarterspot Business Loans 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 Business Loans set on the purpose of the loan?

Quarterspot Business Loans considers 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 business loans does Quarterspot Business Loans 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 Business Loans provides access to the following business loan types:

  • Unsecured term loans

Does Quarterspot Business Loans charge prepayment fees?

No, Quarterspot Business Loans 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 Business Loans?

Loan amounts start at $5,000 and go up to $200,000.

What is the maximum loan term you can get with Quarterspot Business Loans?

Quarterspot Business Loans 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 Quarterspot Business Loans?

Quarterspot Business Loans requires companies to be in business for at least 12 months. Businesses must have a minimum annual revenue of $16,000 to be considered.

Applicants with a credit score of at least 550 and up to 850 may be eligible for Quarterspot Business Loans.

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 Quarterspot Business Loans 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 Quarterspot 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
  • Proof of identity

What is the estimated funding time for a business loan via Quarterspot Business Loans?

Quarterspot Business Loans can approve (or deny) a loan application within 24 hours and fund business loans within 1 business day of approval.

Does Quarterspot Business Loans report your account activity to credit bureaus?

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

  • Equifax
  • Experian

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.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

  • Headquarters
  •   1655 Fort Myer Dr. Ste 700
    Arlington, VA 22209 USA
  •   Visit Site

About Quarterspot Business Loans

Availability

  Available in 46 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Prepayment Fee  
Origination Fee (%) 1% - 4%
Credit Score Range 550 - 850
Employment Statuses Considered Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Months in Business 12
Minimum Revenue $16,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
Approval Speed 24 hours
Credit Bureau Reporting
  • Experian
  • Equifax
Funding Time Range Starting at 1 day
Loan Amount $5,000 - $200,000
APR 10% - 60%
Loan Term 9 - 18 months

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