Sprout Financial Term Loans Review

Sprout Financial Term Loans is a business financing offering by Sprout Financial, based in Phoenix, AZ. Founded in 2014, Sprout Financial offers access to business loans in 50 states (and Washington, DC).

What are Sprout Financial Term Loans’s rates?

Sprout Financial Term Loans offers a business financing product that ranges from 0% APR up to 99% APR.

Does Sprout Financial Term Loans charge an origination fee?

Yes, Sprout Financial Term Loans charges a loan origination fee.

What limitations does Sprout Financial Term Loans set on the purpose of the loan?

Sprout Financial Term Loans 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 Sprout Financial Term Loans 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 Term Loans provides access to the following business loan types:

• Unsecured term loans
• Lines of Credit
• SBA Loans
• Merchant Cash Advances
• Bridge Loans

Does Sprout Financial Term Loans charge prepayment fees?

No, Sprout Financial Term Loans 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 Term Loans?

Loan amounts start at $10,000 and go up to $2,000,000.

What do you need to qualify for Sprout Financial Term Loans?

Sprout Financial Term Loans 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.

When it comes to credit scores, Sprout Financial doesn't have a set minimum or maximum. People with all types of credit can apply.

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 Term Loans. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Sprout Financial Term Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Proof of income
• Driver's license
• Proof of identity