Halo Capital is an online lending company based in Indianapolis, Indiana. The company specializes in providing funding for startups and small businesses. Halo Capital has been accredited by the Better Business Bureau with an A+ rating and no filed complaints. Small business owners can apply and receive up to $10 million in funding within 24 hours with no required collateral, depending on qualifications; however, it does not disclose its interest rates and fees on its corporate website.

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Typical Borrowers

Typical borrowers through Halo Capital are small business owners that are unable to receive financing through traditional banking institutions. Borrowers are expected to have good credit histories and show proof of consistent business income in order to be approved for a loan through the finance services company. Small business owners come to the company looking for fast access to short term loans for a variety of business needs without having to submit personal collateral in order to do so.

Best Uses

Small business loans from Halo Capital are typically used for expansion, cash flow, technology upgrades, marketing, payroll, inventory, and debt consolidation.

Minimum Qualifications

  • Proof of Consistent Business Cash Flow
  • Business Plan and Other Documentation
  • Minimal Paperwork
  • Good to Excellent Credit

The Good

Pros of Halo Capital Small Business Loans

  • Fast Approval
  • Funding in One Day
  • No Required Collateral
  • Minimal Paperwork
  • Up to $10 Million in Available Funding

Performance Based Funding Model

Halo Capital uses a performance-based model to determine if a small business owner qualifies for available loan options. It is designed for borrowers that may not be approved for traditional bank loans. The company reviews overall cash flow volume rather than just credit rating to determine small business loan qualification. Small business owners are able to apply for loans ranging from $20,000 to $10 million or more.

Minimal Loan Approval Requirements

Depending on the financial health of the borrower’s business, applicants do not need to submit personal collateral in order to obtain funding through Halo Capital. There is minimal paperwork involved to obtain a small business loan and funds can be received in a business bank account typically in less than 24 hours.

The Bad

Undisclosed Fees

The finance services company does not publicly disclose its prepayment penalty fee, origination fees, and closing costs on its website. This makes it hard for applicants to determine if they are getting the best possible small business loan. Interest rates start at five percent, but vary by lender and the borrower’s credit history.

Limited Company Information

Halo Capital does not provide detailed information about its corporate history or executive leadership. The company recently started in the industry and it is unclear how much total funding it has been able to secure for the small business owners it serves.

Lack of Customer Feedback

While the finance services company has received no filed complaints with the Better Business Bureau, there are no satisfied customer reviews anywhere online regarding the customer service experience from Halo Capital. There are no customer testimonials on the company’s website either. The company is new to the industry marketplace.

The Bottom Line

Halo Capital is best suited for small business owners with good credit who are unable to acquire traditional bank financing. The company uses cash flow rather than credit history to determine loan approval and there are minimal requirements to access needed funding; however, fees are not publicly transparent and there is no available feedback regarding the company’s overall customer service.

Frequently Asked Questions

How long will it take to receive funds from Halo Capital?

The company is able to approve and transfer funding to a business bank account within 24 hours.

Does Halo Capital require collateral with its loans?

The company does not require personal collateral in order to obtain a loan.

Does Halo Capital have prepayment penalties?

The company does not disclose prepayment penalties on its website.

Does Halo Capital charge origination fees?

The company does not disclose origination fees on its website.

Does Halo Capital charge closing fees?

The company does not disclose closing fees on its website.

How can I contact Halo Capital?

Consumers can contact the company by visiting the website and filling out a loan application form.

More Information

Types of Loans Offered

  • Bad Credit Loans
  • Unsecured Business Loans
  • Commercial Real Estate Loans
  • Merchant Cash Advances

Rates Offered

Starts at 5 percent

Term Lengths

12–60-month terms

The Borrowing Process

Small business owners can fill out a short pre-qualification form on the company’s website that asks for some basic business information. A company representative will contact the borrower and discuss available lending options. Borrowers will be asked to submit certain business documentation, such as a business plan, proof of consistent income, and a list of assets and liabilities. Full approval and funding takes less than one business day. Interest rates vary by lender and overall financial health of the borrower’s business.

How to Apply

Small business owners fill out a short pre-qualification form on the company’s website to start the process. The company will review the borrower’s business cash flow, assets and liabilities, and business plan to determine the ability to pay off an acquired loan. Typical borrowers should also have at least good credit to be approved.

A loan advisor will discuss all available options with the borrower by phone and borrowers choose the loan type that is best suited for their unique financial situations. Personal collateral is generally not required in order to be approved for a small business loan. Once approved, borrowers are able to receive acquired funding directly in their business bank accounts in less than one business day. Acquired funding can be used for a variety of business purposes and there are no upfront costs to apply. The company also assists customers to achieve additional funding beyond the initial loan.

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