Since its founding in 2010, One Park Financial works with more than 20 direct lenders to provide business owners financing solutions. Business financing includes small business loans, merchant cash advances, and equipment financing.
The company has established a solid reputation as a reliable, reputable lending partner in the United States and Puerto Rico. They work closely with business owners to help them grow and scale their businesses in whatever industry they’re in.
One Park Financial Business Loans Terms & Requirements
One Park Financial strives to make getting business financing as simple as possible. Their lending partners work with business owners in many different industries throughout the entire United States (excluding California).
Financing options include small business loans, mid-sized business loans, merchant cash advances, equipment financing, purchase inventory financing, and more. To get a loan or merchant cash advance, borrowers must meet the following criteria:
- Be in business for at least 3 months (startups OK)
- Make $7,500 or more in gross monthly revenue
- Have a personal credit score of at least 500
- Have no active bankruptcies (past bankruptcy cases or foreclosure OK)
Most business financing options come with four- to 12-month terms. Loan amounts range from $5,000 to $500,000. Some options may have an origination fee or other lender’s fees.
Like other indirect lenders, One Park Financial does not specify the exact terms or rates for financing. Typically, borrowers will have to complete an application to learn what they qualify for.
How to Apply
One Park Financial’s application process is streamlined and can be done completely online. There is no fee to apply, but you will be charged a professional service fee once you secure funding through one of their partners. If you’re not sure which type of financing you need, you can speak with a funding expert for free before applying to learn your options.
To apply, you’ll need to create an account and provide the following information:
- Completed online application with some personal and business-related information (ex. business name, launch date, industry, and type)
- Several months’ bank statements
- Personal credit score and report
- Copy of your driver’s license
- Void check
- Recent years’ tax returns (in some cases)
- U.S. tax identification number
- Proof of U.S. citizenship or permanent residency (ex. green card)
- Proof of business ownership
Applying involves a prequalification option that does not hurt your credit score. Some lenders will run a hard inquiry, which will affect your credit, when you choose one of their solutions.
After you apply, One Park Financial will submit your formal application to the best third-party partner in their network. It usually takes a few hours for the partner to decide whether they can work with you. If they approve your application, you could receive funding within one to three business days after closing on the loan. You will also need to pay the service fee.
One Park Financial offers hands-on, ongoing support throughout the entire process. You can also contact them if you have any questions after receiving financing.
To prequalify with One Park Financial, you’ll need to provide some personal and business information. This includes the business name and industry, as well as when you launched or acquired it. It also includes the business industry and type (ex. sole proprietorship or LLC). You can complete the prequalification process entirely online. It only takes a few minutes.
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