The Credit Junction is a direct lender based in New York, NY. It was founded in 2014 and offers access to business loans in 50 states (and Washington, DC).
The Credit Junction offers business loans with APRs starting from 14% and up to 19%.
Yes, The Credit Junction charges a loan origination fee.
Some lenders only provide business loans for certain purposes. The Credit Junction offers considers loan applications for the following reasons:
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. The Credit Junction provides access to the following business loan types:
No, The Credit Junction will not charge you a late fee. Yes, The Credit Junction charges borrowers with a late payment fee.
Yes, The Credit Junction 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.
Loan amounts start at $500,000 and go up to $7,500,000.
The Credit Junction offers business loans with terms ranging from 6 to 24 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.
Applicants with a credit score of at least 300 can apply for a loan via The Credit Junction.
The Credit Junction does not require borrowers to have been in business for a minimum number of years. Active duty servicemembers and their covered dependents are eligible to apply for a loan via The Credit Junction. Its rates and terms fall within the limits of The Military Lending Act.
Only U.S. citizens and permanent residents can apply for a loan.
To qualify, applicants may need to provide the following documentation:
The Credit Junction can provide a credit approval decision in less than an hour and fund the loan within 14 business days.
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