Business Backer is a financing company that offers loans to small businesses without impacting the borrower’s credit score during the application process. It also provides lending services for cash advances and business lines of credit. This article covers Business Backer reviews and pricing. Ready to get started? Visit its website.
Business Backer Pricing
Business Backer pricing offers three lending services: Cash Advance (up to $200,000, with a factor rate of 1.12), Small Business Loan (up to $200,000, with monthly interest rates ranging from 1.1% to 3.5%), and Business Line of Credit (up to $100,000, with an annual percentage rate of 18%).
Up to $200,000
1.12 factor rate
Small Business Loan
Up to $200,000
1.1 to 3.5% monthly interest rates
Business Line of Credit
Up to $100,000
18% annual percentage rate (APR)
The main differences between the plans are the payment terms and access to revenue loss protection. Business Backer will only perform a hard credit pull after a borrower signs a contract.
Ready to get started with Business Backer? Visit its website.
Top Business Backer Alternatives
Browsing lenders with a no credit score or paperwork application
Evaluating every type of business funding option available based on an online application
SBA loans and term loans with an online application and long repayment terms
Equipment financing broker with a low minimum credit score requirement
Revenue based financing for tech startups
Summary of Positive Business Backer Reviews
Users who gave positive Business Backer reviews commended its easy and fast loan approval process that is consistently handled professionally by its representatives. They also mentioned that its services are trustworthy for short-term and small business loans.
One user who gave Business Backer a positive review on Trustpilot said that his customer care representative worked quickly and efficiently to get his loan approved. He also commented that the loan application process was seamless and enabled him to receive his loan faster than expected.
Summary of Negative Business Backer Reviews
As of the date this article was written (September 16, 2019), there are no negative Business Backer reviews available online.
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Business Backer Features
Check out the list below of some of Business Backer’s features:
- Cash advances
- Additional funding
- Small business loans
- Manageable payments
- Fixed interest
- And more
Business Backer FAQs
How does the Business Backer loan application process work?
Business Backer provides small business loans to borrowers who apply on its website or via telephone. A dedicated funding adviser will assist them in the loan prequalification process. The financing qualifications are as follows: at least 12 months operating as a business, 550 or higher personal credit score, and annual revenue of $180,000 or greater.
Does Business Backer offer discounts for early loan payments?
Yes, it does. Business Backer offers a fixed interest cost to borrowers who have applied for a loan. If they are able to pay off their loan early, they are entitled to receive a 35% discount on their unpaid interest cost.