Seek Business Capital Review

Where does Seek Business Capital do business?

Seek Business Capital is a business financing offering by Seek Business Capital, a marketplace lender based in Los Angeles, CA. Founded in 2015, Seek Business Capital offers access to business loans in 50 states (and Washington, DC).

What are Seek Business Capital’s rates?

Seek Business Capital offers a business financing product that ranges from 9% APR up to 22% APR.

Does Seek Business Capital charge an origination fee?

Yes, Seek Business Capital charges a loan origination fee.

What limitations does Seek Business Capital set on the purpose of the loan?

Seek Business Capital considers loan applications for business purposes, such as:

• Business Debt Refinance
• Equipment Purchase
• Hiring
• Inventory
• Lease Improvement
• New Location
• Payroll
• Product or Service Expansion
• Technology Investment
• Working capital

What types of business loans does Seek Business Capital offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Seek Business Capital provides access to the following business loan types:

• Lines of Credit

Does Seek Business Capital charge prepayment fees?

Yes, Seek Business Capital 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 Seek Business Capital?

Loan amounts start at $5,000 and go up to $500,000.

What do you need to qualify for Seek Business Capital?

Seek Business Capital does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.

Applicants with a credit score of at least 680 and up to 850 are eligible for Seek Business Capital.

Seek Business Capital does not have or does not disclose a minimum annual income eligibility requirement.

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. Active duty service members and their covered dependents are eligible to apply for a loan via Seek Business Capital. Their rates fall within the limits of 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
• Proof of identity

What is the estimated funding time for a business loan via Seek Business Capital?

Seek Business Capital can approve (or deny) a loan application within 24 hours and fund business loans within 0 business day of approval.