Features

Where does The Credit Junction do business?

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).

What are The Credit Junction’s rates?

The Credit Junction offers business loans with APRs starting from 14% and up to 19%.

Does The Credit Junction charge an origination fee?

Yes, The Credit Junction charges a loan origination fee. 

What limitations does The Credit Junction set on the purpose of the loan?

Some lenders only provide business loans for certain purposes. The Credit Junction offers considers loan applications for the following reasons:

  • Equipment purchase
  • New location
  • Product or service expansion
  • Working capital
  • Business debt refinance

What types of business loans does The Credit Junction 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 Credit Junction provides access to the following business loan types:

  • Secured term loans

Does The Credit Junction charge a late fee?

No, The Credit Junction will not charge you a late fee. Yes, The Credit Junction charges borrowers with a late payment fee.

Does The Credit Junction charge prepayment fees?

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.

How much can you borrow from The Credit Junction?

Loan amounts start at $500,000 and go up to $7,500,000.

What is the maximum loan term you can get with The Credit Junction?

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.

What do you need to qualify for a loan with The Credit Junction?

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:

  • Proof of income

What is the estimated funding time for a business loan via The Credit Junction?

The Credit Junction can provide a credit approval decision in less than an hour and fund the loan within 14 business days.

  • Credit Score Range
    300 - 850
  • Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Other
    • Retired
    • Self-Employed
  • Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
  • Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
  • Minimum Revenue
    $415000
  • Verification Documents Required?
    • Business Formation Documents
    • Proof of Income
    • Proof of Residence
  • Business Loan Type
    • Secured Term Loan
    • Line Of Credit
  • Intended Use of Funds
    • Business Debt Refinance
    • Equipment Purchase
    • Lease Improvements
    • New Location
    • Product or Service Expansion
    • Working Capital
  • Funding Time Range (in days)
    Starting at 14
  • Loan Amount
    $500000 - $7500000
  • Loan Term Range (Months)
    6 - 24
  • APR
    14% - 19%
  • Max Loan Term (Months)
    24
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