in Business Loans from Sprout FinancialUnaffiliated
|Loan Amount||$10,000 - $2,000,000|
|APR||0% - 99%|
|Loan Term||N/A months|
Sprout Financial Review
Where does Sprout Financial do business?
Sprout Financial is a business financing offering by Sprout Financial, a financial services company based in Phoenix, AZ. Founded in 2014, Sprout Financial offers access to business loans in 50 states (and Washington, DC).
What are Sprout Financial’s rates?
Sprout Financial offers a business financing product that ranges from 0% APR up to 99% APR.
Does Sprout Financial charge an origination fee?
Yes, Sprout Financial charges a loan origination fee.
What limitations does Sprout Financial set on the purpose of the loan?
Sprout Financial considers loan applications for business purposes, such as:
- Business Debt Refinance
- Equipment Purchase
- Lease Improvement
- New Location
- Product or Service Expansion
- Technology Investment
- Working capital
What types of business loans does Sprout Financial offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Sprout Financial provides access to the following business loan types:
- Unsecured term loans
- Lines of Credit
- SBA Loans
- Merchant Cash Advances
- Bridge Loans
Does Sprout Financial charge prepayment fees?
No, Sprout Financial 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 Sprout Financial?
Loan amounts start at $10,000 and go up to $2,000,000.
What do you need to qualify for Sprout Financial?
Sprout Financial 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 300 and up to 850 are eligible for Sprout Financial.
Sprout Financial does not have or does not disclose a minimum annual income eligibility requirement. Sprout Financial only considers borrowers who are employed.
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 Sprout Financial. 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
- Driver's license
- Proof of identity
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|No Prepayment Fee|
|Credit Score Range||
300 - 850
|Immigration Status Considered||
|Employment Statuses Considered||
|Minimum Months in Business||0|
|Verification Documents Required||
|Loan Amount||$10K - $2M|
|APR||0% - 99%|