Small business owners, get the funding you need FAST! Check out our in-depth review of David Allen Capital and see how they can help you grow. #smallbusiness #fastfunding
David Allen Capital (DAC) is a business loan brokerage that offers a variety of loan options to small businesses. Founded in 2015, DAC is headquartered in Jacksonville, Florida and has helped over 10,000 businesses secure funding. The company is known for its easy online application process and fast funding.
Key Features
DAC offers a range of loan options, including short-term loans, working capital loans, equipment financing, asset-backed funding, and business lines of credit. The company has a streamlined online application process that takes only a few minutes to complete, and funding can be available within 24-48 hours.
Types of Financing
DAC offers the following types of financing:
Business Capital: We want to help fund your business growth! Up To $2,000,000
Lines of Credit: When The Banks Can't Help - We Can! Revolving LOCs From $5,000 – $100,000
Self-Employed Funding: Instant funding for Self-Employed and Gig-Workers. Up To $5k
Equipment Financing: Financing the equipment you need to grow your business. From $5,000 – $200,000
Asset Backed Funding: Commercial Real Estate Backed Funding! From $100,000 – $50,000,000
Additional Services
Additional services provided by DAC include:
Employee Retention Tax Credit: Up To $26,000 Per Employee
Payment Processing: Simple And Affordable Payment Processing
Health Care: Affordable Individual Plans Available Now
Employee Pay Advance: Be A Hero Employer With Interest Free Pay Advances
Identity Protection: Get Protected From Potential Damage – As Low As $9.99/Mo.
Funding Timelines
DAC’s application process is quick and easy, taking only a few minutes to complete. Once the application is submitted, approval can be granted within 24 hours. Funding can then be available within 24-48 hours.
Repayment Terms
Repayment terms vary depending on the type of loan. Short-term loans typically have a repayment term of 3-18 months, while working capital loans and lines of credit have longer repayment terms of up to 24 months. Equipment financing and merchant cash advances typically have shorter repayment terms.
Rates, Fees, and Qualifications
DAC’s rates and fees vary depending on the type of loan and the qualifications of the borrower. Interest rates range from 6% to 36%, and fees can include origination fees, application fees, and prepayment penalties. Qualifications for a loan include a minimum credit score of 500, at least 4 months in business, and a minimum annual revenue of $100,000.
Pros & Cons
Pros | Cons |
Easy online application process | High interest rates for some loans |
Fast funding | Fees can add up quickly |
Variety of loan options | Limited information available on the website |
Minimal qualifications | |
No collateral required for some loans | |
Comparison to Other Online Lenders
Compared to other loan marketplaces, DAC offers a good selection of loan options and a simple application process. However, its rates and fees can be higher than some competitors. Other loan marketplaces to consider include LendingClub, OnDeck, and Kabbage.
Final Remarks
Overall, David Allen Capital is a good option for small businesses in need of quick and easy financing. However, the high interest rates and fees should be carefully considered before applying for a loan. It is recommended to compare rates and fees with other lenders to ensure the best possible terms.
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