Sprout Financial Term Loans Review

Sprout financial is a business financing offering by Sprout Financial, based in Phoenix, AZ. Founded in 2014, Sprout Financial offers access to small 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 business loan?

Sprout financial 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 Sprout financial 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. Sprout financial provides access to the following business loan types:

• Unsecured Term Business 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 business loan off early.

How much can you borrow from Sprout financial?

Business 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 scores 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