CashCall

• Transparent Requirements
• Online Loan Overview and Rates
• Other Benefits

Transparent Requirements

CashCall has limited application requirements for securing a small business loan, which helps make the process easier. Applicants fill out an online form that only takes minutes to complete, and can receive funding in their business bank accounts in less than a day. Borrowers must have a minimum 500 credit score, personal collateral, and two months of business revenue in order to obtain a loan. Full details on how the funding process works can be found on the company's website.

Online Loan Overview and Rates

The company discloses various lending scenarios on its website to show consumers various factors involved in obtaining a small business loan. Borrowers can see what the monthly payments and interest rates would be based on the loan amount and term length.

Other Benefits

Other benefits of CashCall include:

• Fast approval
• Receive funds within 24 hours
• Limited documentation required
• Fixed interest rates
• No upfront costs
• No prepayment penalty

• Low Amounts of Capital
• High Interest Rates
• Negative Customer Feedback

Low Amounts of Capital

Small business owners are only able to apply for funding up to $50,000, which may not be enough for many business types. Many other online lenders are able to secure loans up to $250,000; however, these companies have higher standards regarding credit history and business income.

High Interest Rates

Interest rates for small business loans range from 24 to 149 percent and origination fees range from 5 to 10 percent with a minimum of $500. Borrowers must also meet strict underwriting guidelines for credit approval. These interest rates and fees can add up to cost a great deal more than the industry average.

Negative Customer Feedback

In 2013, the Consumer Financial Protection Bureau took action against the company for taking money from consumer accounts for loans that were void. The investigation revealed the company violated licensing requirements in eight states.