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StreetShares

in Business Loans from StreetShares

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StreetShares

Unaffiliated

in Business Loans from StreetShares

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Highlights
Highlights
Loan Amount $2,000 - $100,000
APR 6% - 20%
Loan Term (Months) 3 - 36

Overview

Where does StreetShares do business?

StreetShares is a direct lender based in Reston, VA. It was founded in 2013 and offers access to business loans in 50 states (and Washington, DC).

What are StreetShares’s rates?

StreetShares offers business loans with fixed APRs starting from 6% to 20%.

Does StreetShares charge an origination fee?

Yes, StreetShares charges a loan origination fee of 3.95% to 4.95% of the loan amount. StreetShares 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 StreetShares set on the purpose of the loan?

StreetShares 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 StreetShares offer?

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

  • Unsecured term loans
  • Lines of Credit

Does StreetShares charge a late fee?

Yes, StreetShares charges borrowers with a late payment fee of up to $10.

Does StreetShares charge prepayment fees?

No, StreetShares 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 StreetShares?

Loan amounts start at $2,000 and go up to $100,000.

What is the maximum loan term you can get with StreetShares?

StreetShares 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 a loan with StreetShares?

Applicants with a credit score of at least 640 can apply for a loan via StreetShares. StreetShares requires companies to be in business for at least 12 months.Businesses must have a minimum annual revenue of $100,000 to be considered.

Only U.S. citizens and permanent residents can apply for a loan. To qualify, applicants may need to provide the following documentation:

  • Proof of Identity
  • Proof of Income

What is the estimated funding time for a business loan via StreetShares?

StreetShares can approve (or deny) a loan application within 24 hours and fund business loans within 2 business days of approval.

Does StreetShares report loan payments to credit bureaus?

StreetShares may report credit data to the following credit reporting agencies:

  • Equifax
  • Experian
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Contact

  • Headquarters
  •   1985 Isaac Newton Square West Suite 103
    Reston, VA 20190 USA
  •   Visit Site

About StreetShares

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

No Prepayment Fee  
Late Fee Amount $10
Origination Fee 3.95% - 4.95%
Credit Score Range 640 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Self-Employed
Military Status
  • Non-Military
  • Veterans
Minimum Months in Business 12
Minimum Revenue $100,000
Verification Documents Required
  • Proof of Identity
  • Proof of Income
Loan Amount $2K - $100K
Loan Term (Months) 3 - 36
APR (Fixed APR) 6% - 20%

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