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  The Business Backer Small Business Loans

The Business Backer Small Business Loans

in Business Loans from The Business Backer

Unaffiliated

The Business Backer Small Business Loans

Unaffiliated

in Business Loans from The Business Backer

Net Recommendation Score +100%

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
Community Rating

Rating not yet determined  

Loan Amount $5,000 - $75,000,000
APR  (Fixed APR) N/A
Loan Term (Months) 4 - 120 months

The Business Backer Small Business Loans Review

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

The Business Backer Small Business Loans FAQ

What are The Business Backer Small Business Loans’s rates?

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

Does The Business Backer Small Business Loans charge an origination fee?

No, The Business Backer Small Business Loans 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 Small Business Loans set on the purpose of the loan?

The Business Backer Small Business Loans 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 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. The Business Backer Small Business Loans 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 Small Business Loans charge prepayment fees?

No, The Business Backer Small Business Loans 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 Small Business Loans?

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 Small Business Loans?

The Business Backer Small Business Loans 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 The Business Backer Small Business Loans?

The Business Backer Small Business Loans requires companies to be in business for at least 12 months. Businesses must have a minimum annual revenue of $180,000 to be considered.

Applicants with a credit score of at least 560 and up to 850 may be eligible for The Business Backer Small Business Loans.

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 The Business Backer 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 The Business Backer 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
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  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 Income
  • Proof of Identity
Loan Amount $5,000 - $75,000,000
Loan Term 4 - 120 months

The Business Backer Small Business Loans Community Reviews

 

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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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