QuarterSpot is an online lending platform that offers short-term small business loans on flexible rates and terms. Its loan amounts range from $5,000 to $250,000. In this article, we cover QuarterSpot reviews and fees. Ready to get started? Visit its website.
QuarterSpot pricing details are currently not available on its website. However, according to a third-party source, it offers small business loans from $5,000 to $250,000. QuarterSpot charges an origination fee of 6% to 9%, its APR ranges from 20% to 48%, and it doesn’t have prepayment fees or penalties.
QuarterSpot currently does not lend to businesses located in North Dakota, Rhode Island, South Dakota, Vermont, and U.S. territories. Businesses that have been in operation for at least one year, have a minimum credit score of 550, and annual revenue of $200,000 can qualify for the best rates. Interested borrowers may contact the QuarterSpot support team for more information.
Ready to get started with QuarterSpot? Visit its website.
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Summary of QuarterSpot Reviews
As of the date, this article was written (September 11, 2019), there are no up-to-date QuarterSpot reviews available online. If you are a past or current QuarterSpot customer, leave a review to help others who are deciding whether or not to use the software.
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Check out the list below of some of QuarterSpot’s features:
- Online application
- Transparent terms
- High approval rates
- Fixed, low monthly payments
- No prepayment fees or penalties
- And more
How do I apply for a loan?
To begin the process, you can call QuarterSpot. You have to be ready to produce documents confirming your revenue. The company will then do a hard pull on the credit of qualifying applicants. Approval is within 24 hours, while funding will be available in as soon as five days.
What are the documents required for a loan?
The following documents must be submitted to confirm the borrower’s revenues: three months of business bank statements (with a minimum average balance of $2,000), a void business check, a copy of your driver’s license, your most recent business tax return, and your balance sheet.