About lender
QuickBridge Funding is a business lending company that offers financing solutions to small businesses. It is headquartered in Irvine, California. QuickBridge Funding was started in 2011 and filled a niche for funding small businesses having not enough capital for their needs. QuickBridge Funding is an accredited member of the Better Business Bureau and has an A rating.
In 2018 the company was acquired by National Funding and launched a partnership with LendingTree.Nowadays, QuickBridge Funding LLC offers a variety of financing solutions that can be customized to meet the unique needs of the business owners.
Pros and cons
Pros
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QuickBridge Funding can provide financing within a few days, much faster than traditional bank loans.
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It offers flexible repayment terms that can be customized to meet the needs of each business.
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There are no prepayment penalties if you pay off your loan early.
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It provides personalized service to each of its clients.
Cons
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QuickBridge financing can be challenging to obtain for businesses that do not have strong credit scores.
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There is an origination fee, and the amounts of it are undisclosed.
However, financing can be a good option for businesses that need financing for a short-term project or need financing quickly.
Terms and conditions
QuickBridge Funding you can get a business loan for taxes, inventory, payrolls, emergency, marketing, renovation, expansion, operating expenses and more.
For working capital, bridge loans, you can get a loan of $5,000 to $500,000 for 4-24 months at 1.10 factor rate.
For equipment financing, you get the same amount for a 36-60 months loan term and 4.99% interest rate.
There is an origination fee you should be aware of. It is based on your loan’s amount. QuickBridge doesn’t disclose the amount it charges, but it typically id 1% to 5% of your amount.
Funding a loan
Once a borrower is approved for a loan from QuickBridge Funding, the money is transferred to them via ACH (Automated Clearing House) transfer. This type of transfer is typically used for direct deposit of payroll checks but can also be used to send money from one bank account to another. The process is initiated by QuickBridge Funding within 24 hours after the application was approved, and the money is typically deposited into the borrower's account within one to 2 business days.
Other Personal Loans
OppLoans is a notable financial service provider that offers consumer loans varying from $500 to $4,000. They expedite the funding process to ensure that approved applicants receive the necessary funds promptly, which is advantageous for those dealing with immediate financial concerns. OppLoans offers adaptable repayment conditions, giving customers the choice between 9, 12, and 18-month loan terms. This adaptability allows borrowers to opt for a repayment plan that matches their financial ability, ensuring a seamless and manageable loan journey. RISE Credit is a reliable online lender that provides loans up to $5,000. They have a streamlined application procedure, allowing borrowers to have funds transferred to their accounts as early as the next business day. They present the flexibility of choosing a payment schedule that fits with the financial preferences of the customers, although some state-based restrictions might apply. A notable feature of RISE Credit is its 5-Day Risk-Free Guarantee, which permits borrowers to revoke their loan and return the principal with zero fees or interest within the given period. Additionally, RISE Credit grants customers complimentary access to their credit score and credit monitoring alerts through Credit Score Plus, offering valuable financial insight. OneMain Financial stands as a distinguished and enduring lender, offering personal loans that range between $1,500 to $20,000. Boasting a century’s worth of experience in the financial sector, they have garnered the trust of a vast customer base. Their loan terms include fixed rates and fixed payments, offering a predictable and manageable repayment scenario to borrowers. OneMain Financial emphasizes personalized service, ensuring that the distinct needs of each customer are addressed. With a widespread network of approximately 1,400 branches, they provide easy access and convenience for individuals in search of financial aid. Universal Credit requires applicants to have a minimum credit score of 560, thus excluding those with no credit history. It is appealing for its credit-enhancement features, making it suitable for individuals with fair or poor credit looking to better their scores. Providing larger loan amounts than Oportun and next-day funding upon approval, it emerges as a solid choice for significant, urgent financial needs. Universal Credit extends its loan services across all 50 states and Washington, D.C., offering a wide geographical coverage.Loans like QuickBridge
OppLoans
Rise Credit
OneMain Financial
Universal Credit
Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability. Carefully review all the terms and conditions of your payday loan contract. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.Important
How to Choose a Lender