Small Business Loans

QuickCapitalUSA is the Industry Leader
Small Business Loans FAQ
1) Do I qualify for a peer to peer loan from Quick Capital USA services?

Click the Apply now button, select your credit score range, and complete the application. Our executive team will guide you accordingly

2) In how many days can I be approved for a Peer to peer loan?

In 2 days, you can have funds in your account.

3) What is the maximum amount that I can take a loan?

You can receive up to $35000 when applying for a P2P loan with Quick Capital USA Services.

4) Are there early loan repayment or prepayment penalties?

There are zero early repayment penalties. When you apply for a P2P Credit personal loan, you choose the repayment options.

5) Are you open on bank holidays?

We are closed on all bank holidays. This may delay funding of your loan by one business day

6) How can I apply for a Long term loans?

You can apply and get a quotation online by choosing the option ‘apply online’ or over phone. If you apply online, several lending entities may contact you with the best priced quotes suits to your requirement and ability for loan repayment.

7) What are long terms loans?

Long term loans in general carries long term beneficial aspects in which one can have longer period of time that usually applied by the applicants.

8) How can I utilize my loan amount?

What you do with your loan amount is completely depending on you as the lender is not going to interfere in this matter. It is up to you how and where you want to spend your money, as long as it's not used for unlawful reasons. Lender’s only concern is the timely repayments of his given loan amount.

9) What is the amount I can have a loan of?

We offer loans up to a particular range which varies from person to person as per their income and also requirements of loan vary. Depending on total income and repayment capability, we provide easy accessibility to loans to different people.

10) Will I surely get the applied loan amount?

No, this isn’t essential that the applied loan is approved; it can be lesser than the applied loan amount and can be same amount.

11) What is the maximum term available for getting long term loans?

20-30 years can be the maximum term for these loans, but the approval depends on the financial status and credit score of that person who is applying for long term loans.

12) How much money do I should be to business with start-up costs of $50,000

To start your business come up with 30% of the total cost (not the loan request). If you take $50,000to start your business, you will be required to inject $15,000 (30%); you will request a loan of $35,000

13) Where can my capital come from for a start up loans?

Your capital can come from your savings equity or money given to you by a friend or family member that you don’t have to pay back. You cannot finance your capital requirement through other sources (e.g. credit cards or another lending source). At least half of your income must come from your own sources (savings or home equity). The rest can be gifted or an owner can carry back a note that is on full stand by. You can also borrow against your retirement accounts, which represent personal equity.

14) I have a few problems on my credit report from the past; how good does my credit have to be?

We want to see that you have presently cleared on all your debt, that any derogatory marks on your credit report from the past are at least a couple of years old and that you have a reasonable explanation as to what happened.

15) If I have a bankruptcy in the past am I still eligible to get a loan?

Your bankruptcy must be at least 4 to 6 years old depending on the loan product and there must not be any late pays, charge-offs or collection items on your report since the bankruptcy. Lenders want to see that you have been financially responsible since filing for insolvency protection.

16) Is there a Penalty for early repayment?

There are no penalties for early repayment. You can repay the loan at any time without penalty.

17) If I have no collateral, can I still qualify for a loan?

There are some credit based loans under $50,000 that do not require collateral. If you are looking for a larger loan and are a start up business, you generally will need some collateral. Weak collateral can be mitigated by a co-signer willing to guarantee the loan. Existing businesses with positive cash flow may be eligible for a loan without collateral or co-signer.

18) If I have no experience in the industry, can I still qualify for a loan?

There are some credit-based products that do not require the owner of the business to have experience in the industry. If you have identified a manager to work in your business who has at least two years of experience in the industry, you may still be eligible for a loan.

17) What documentation will I need when I submit my loan application?

For fully underwritten loans, you need to have all application forms completed, personal and business tax returns for the last three years, financial statements on the business for the last three years, an interim financial statement since your last tax reporting period. For start-ups, you will need a business plan, projections and assumptions on which the projections are based. You will not have business tax returns or financial statements. For credit-based loans, only an application is required.

18) Can I use a co-signer to help me get a credit-based loan?

Only owners of the business guarantee credit-based loans. If you have someone who does not own the business, they cannot guarantee a credit-based loan.

19) What fees are associated with the loan products?

Fees are loan specific and are discussed in further detail in the loan package. There are no fees unless you get funded.

20) What determines the interest rate?

The rates are based on many factors including credit scores, length of credit history and the lenders and products that may be available to you.

21) What is the amount of money we can borrow?

The maximum amount is determined by a number of factors; Credit history, gross revenue, personal income, loan purpose and location just to name a few.

22) Is the process difficult?

The process is not difficult at all. We want to make application for a business loan as simple and easy to understand as possible. You have to fill out the online application and we will work hard to fulfill the rest of the small business loan requirements to get you set up with a lender. Once we have compared multiple lenders, we will match you with loan options so that you can decide which best suits your needs.

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