Halo Capital is an online lending company based in Indianapolis, Indiana. The company specializes in providing funding for startups and small businesses. 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 range and fees on its corporate website.
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.
Small business loans from Halo Capital are typically used for expansion, cash flow, technology upgrades, marketing, payroll, inventory, and debt consolidation.
- Proof of Consistent Business Cash Flow
- Business Plan and Other Documentation
- Minimal Paperwork
- Performance based funding model
- Minimal loan approval requirements
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.
- Limited company information
- Lack of transparency
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 Transparency
Halo Capital is lacking a great deal of transparency regarding pertinent information. Without this information, it is difficult for business owners to determine if Halo Capital is the right fit for their needs. We would like to see Halo Capital include information regarding their funding, highest APR, and more information regarding requirements. It also makes it difficult for our team to rank their services to other companies in the industry without this information.
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 have prepayment penalties.
Does Halo Capital charge origination fees?
The company does not require origination fees.
Does Halo Capital charge closing fees?
The company does not require closing fees.
How can I contact Halo Capital?
Consumers can contact the company by visiting the website and filling out a loan application form.
Types of Loans Offered
- Bad Credit Loans
- Unsecured Business Loans
- Commercial Real Estate Loans
- Merchant Cash Advances
Starts at 5 percent
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.