Strategic Nationwide Funding Small Business Loans Review

Strategic Nationwide Funding Small Business Loans is a business financing offering by Strategic Nationwide Funding, based in Friday Harbor, WA. Founded in 2010, Strategic Nationwide Funding offers access to business loans in 50 states (and Washington, DC).

What are Strategic Nationwide Funding Small Business Loans’s rates?

Strategic Nationwide Funding Small Business Loans offers a business financing product that ranges from 29% APR up to 60% APR.

Does Strategic Nationwide Funding Small Business Loans charge an origination fee?

Yes, Strategic Nationwide Funding Small Business Loans charges a loan origination fee.

What limitations does Strategic Nationwide Funding Small Business Loans set on the purpose of the loan?

Strategic Nationwide Funding Small Business 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 Strategic Nationwide Funding Small Business 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. Strategic Nationwide Funding Small Business Loans provides access to the following business loan types:

• Merchant Cash Advances

Does Strategic Nationwide Funding Small Business Loans charge prepayment fees?

Yes, Strategic Nationwide Funding Small Business Loans 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 Nationwide Funding Small Business Loans?

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

What is the maximum loan term you can get with Strategic Nationwide Funding Small Business Loans?

Strategic Nationwide Funding Small Business Loans offers business loans with terms ranging from 4 to 10 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 Nationwide Funding Small Business Loans?

Strategic Nationwide Funding Small Business Loans requires companies to be in business for at least 6 months. Businesses must have a minimum annual revenue of $10,000 to be considered.

Strategic Nationwide Funding Small Business Loans 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. APRs for the Strategic Nationwide Funding Small Business Loans product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Strategic Nationwide Funding Small Business Loans. 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 Nationwide Funding Small Business Loans?

Strategic Nationwide Funding Small Business Loans can approve (or deny) a loan application within 3 hours and fund business loans within 24 business days of approval.