Seek Business Capital Review

Seek capital is a business financing offering by Seek Capital, based in Los Angeles, CA. Founded in 2014, Seek Capital offers access to small business loans in 50 states (and Washington, DC).

What are Seek capital’s rates?

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

Does Seek capital charge an origination fee?

Yes, Seek capital charges a loan origination fee.

What limitations does Seek capital set on the purpose of the business loan?

Seek capital considers business 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 small business loans does Seek capital offer?

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

• Lines of Credit

Does Seek capital charge prepayment fees?

Yes, Seek capital charges additional fees to borrowers who pay off their small business 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 business loan early.

How much can you borrow from Seek capital?

Business 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 may be eligible for Seek Business Capital.

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.

U.S. citizens are, of course, eligible for the services offered by Seek Business Capital. 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 Seek capital?

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