Features

Where does Sprout Financial do business?

Sprout Financial is  a lending platform based in Phoenix, AZ. It was founded in 2014 and offers access to business loans in 50 states (and Washington, DC)..

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?

Some lenders only provide business loans for certain purposes. Sprout Financial offers considers loan applications for the following reasons:

  • Equipment purchase
  • New location
  • Product or service expansion
  • Working capital
  • Business debt refinance

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
  • Merchant cash advances

Does Sprout Financial charge a late fee?

No, Sprout Financial will not charge you a late fee. Yes, Sprout Financial charges borrowers with a late payment fee.

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 a loan with Sprout Financial?

Applicants with a credit score of at least 300 can apply for a loan via Sprout Financial.

Sprout Financial requires businesses to be in business for at least 2 months in business. Active duty servicemembers and their covered dependents are eligible to apply for a loan via Sprout Financial. Its rates and terms 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:

  • Driver's license
  • Proof of income

  • Credit Score Range
    300 - 850
  • Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Other
    • Retired
    • Self-Employed
  • Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
  • Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
  • Minimum Months in Business
    2
  • Verification Documents Required?
    • Proof of Income
    • Driver License (or other photo ID)
  • No Prepayment Fee
  • Business Loan Type
    • Unsecured Term Loan
    • Line Of Credit
    • Merchant Cash Advance
  • Intended Use of Funds
    • Business Debt Refinance
    • Equipment Purchase
    • Lease Improvements
    • New Location
    • Product or Service Expansion
    • Working Capital
  • Approval Speed (Hours)
    1
  • Funding Time Range (in days)
    Up to 7
  • Loan Amount
    $10000 - $2000000
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