Line of Credit by StreetShares
StreetShares is an affinity-based small business lending marketplace that connects small business owners with accredited and institutional investors. Investors compete in an online auction to fund portions of the requested loan, and StreetShares combines the lowest bids into a single loan. StreetShares blends peer-to-peer lending with traditional banking. While open to all small business owners, StreetShares is veteran-owned and has a particular focus on funding veteran-owned business.
Reasonable rates. Affinity-based lending. Veterans have the potential to get preferred rates due to shared affinity. After six months of good payment history, your credit line may be increased (up to $150,000).
Can only borrow up to $100,000. Not available in all the states. Weekly repayments from a bank account.
Time in Business
At least 2 years in business
At least $75,000
You must be a U.S. Citizen and must have a business guarantor with reasonable credit. No bankruptcies in the past three years. No current tax liens or collections.
If approved, the maximum approved loan amount will not exceed 20% of your annual business revenue.
Unable to lend in North Dakota, South Dakota and Oregon.
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