Details

Peer-To-Peer Lending For Intermediate Term Loans By StreetShares.
StreetShares lets investors bid on loans through its affinity-based small business lending marketplace. It’s marketplaces runs as an auction where investors bid on loans. These investors are accredited and institutional. Loans are then packaged together by the lowest bids into a single loan. StreetShares is veteran owned and while they do focus on veteran run business, the marketplace is open to all businesses.

Additional Details

Cost
8.99% – 39.99% APR

Repayment Terms
3 – 36 months, with weekly payments

Funding Amount
$2,000 – $100,000

Origination Fee
3.95% – 4.95%

Funding Speed
1 Week

Application
Digital

Recommended Requirements to Know

Personal Credit Score
Minimum 640

Annual Revenue
Above $250,000

Profitability Ratio
Check with the lender

Months In Business
Minimum of 36 months

Personal Tax Liens
No open personal tax liens on your credit

Legal Entity Type
Corporation or LLC

Open UCC Filings
0 UCC filings

Personal Bankruptcy
No Open bankruptcy on your personal credit report.

State
Check with lender for availability in your state

Pros

Since StreetShares is an affinity based business focused more on veterans, veterans are offered prime rates.

Cons

Requires payments to be made weekly from a bank account. Maximum loan amount is $100,000.

Main Point:

If you are a veteran owned business, this is a great source of lending. Although they are also open to established businesses as well.

Get the financing you need

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