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
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5415 E High St
Phoenix, AZ 85054 USA
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- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
- Active Duty Military
- Military Dependent
- U.S. Citizen
- U.S. Permanent Resident
- Employed Full-Time
- Employed Part-Time
- Proof of Income
- Driver License (or other photo ID)