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Strategic Funding Source

in Business Loans from Strategic Funding Source

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Strategic Funding Source

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in Business Loans from Strategic Funding Source

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Highlights
Highlights
Loan Amount $10,000 - $1,000,000
APR 10% - 100%
Loan Term 3 - 36 months

Strategic Funding Source Review

Where does Strategic Funding Source do business?

Strategic Funding Source is a business financing offering by Strategic Funding Source, based in New York, NY. Founded in 2006, Strategic Funding Source offers access to business loans in 50 states (and Washington, DC).

What are Strategic Funding Source’s rates?

Strategic Funding Source offers a business financing product that ranges from 10% APR up to 100% APR.

Does Strategic Funding Source charge an origination fee?

Yes, Strategic Funding Source charges a loan origination fee starting at 2.5% of the loan amount. Strategic Funding Source deducts the fee directly from your loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.

What limitations does Strategic Funding Source set on the purpose of the loan?

Strategic Funding Source considers loan applications for business purposes, such as:

  • Business Debt Refinance
  • Equipment Purchase
  • Lease Improvement
  • New Location
  • Product or Service Expansion
  • Working capital

What types of business loans does Strategic Funding Source offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Strategic Funding Source provides access to the following business loan types:

  • Unsecured term loans
  • Secured Term Loans
  • Lines of Credit
  • Invoice Financing
  • Merchant Cash Advances

Does Strategic Funding Source charge prepayment fees?

Yes, Strategic Funding Source charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.

How much can you borrow from Strategic Funding Source?

Loan amounts start at $10,000 and go up to $1,000,000.

What is the maximum loan term you can get with Strategic Funding Source?

Strategic Funding Source offers business loans with terms ranging from 3 to 36 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for Strategic Funding Source?

Strategic Funding Source requires companies to be in business for at least 6 months. Businesses don't have to meet a minimum annual revenue to be considered.

Strategic Funding Source does not require or does not disclose a credit score minimum.

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 Strategic Funding Source. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Strategic Funding Source. Permanent resident / green card holders are also eligible to apply.

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

  • Proof of income
  • Proof of identity

What is the estimated funding time for a business loan via Strategic Funding Source?

Strategic Funding Source can approve (or deny) a loan application within 1 hour and fund business loans within 2 business days of approval.

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Contact

  • Headquarters
  •   120 West 45th Street
    New York, NY 10036 USA
  •   Visit Site

About Strategic Funding Source

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Origination Fee (%) Starting at 2.5%
Employment Statuses Considered
  • 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 6
Verification Documents Required
  • Proof of Identity
  • Proof of Income
Loan Amount $10K - $1M
APR 10% - 100%
Loan Term 3 - 36 months

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