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  The Business Backer

The Business Backer

in Business Loans from The Business Backer

Unaffiliated

The Business Backer

Unaffiliated

in Business Loans from The Business Backer

SuperMoney Net Recommendation Score +100% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

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Highlights
Highlights
Community Rating Strongly recommended
Loan Amount $5,000 - $75,000,000
APR  (Fixed APR) N/A
Loan Term 4 - 120 months

The Business Backer Review

Where does The Business Backer do business?

The Business Backer is a business financing offering by The Business Backer, a financial services company based in Cincinnati, OH. Founded in 2007, The Business Backer offers access to business loans in 33 states (and Washington, DC).

What are The Business Backer’s rates?

The Business Backer offers a fixed APR business financing product but they do not disclose their rates.

Does The Business Backer charge an origination fee?

No, The Business Backer does not charge a loan origination fee. A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

What limitations does The Business Backer set on the purpose of the loan?

The Business Backer considers loan applications for business purposes, such as:

  • Equipment Purchase
  • Lease Improvement
  • New Location
  • Working capital

What types of business loans does The Business Backer offer?

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

  • Unsecured term loans
  • Secured Term Loans
  • Lines of Credit
  • SBA Loans
  • Invoice Financing
  • Merchant Cash Advances
  • Commercial Real Estate

Does The Business Backer charge prepayment fees?

No, The Business Backer 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 The Business Backer?

Loan amounts start at $5,000 and go up to $75,000,000.

What is the maximum loan term you can get with The Business Backer?

The Business Backer offers business loans with terms ranging from 4 to 120 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 The Business Backer?

Applicants with a credit score of at least 560 can apply for a loan via The Business Backer. The Business Backer requires companies to be in business for at least 12 months. Businesses must have a minimum annual revenue of $180,000 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

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About The Business Backer

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 33 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio

Feature Breakdown

No Origination Fee  
No Prepayment Fee  
Origination Fee Starting at 0%
Credit Score Range 560 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Months in Business 12
Minimum Revenue $180,000
Verification Documents Required
  • Proof of Identity
  • Proof of Income
Loan Amount $5K - $75M
Loan Term 4 - 120 months

The Business Backer Community Reviews

 
 

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