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Everlasting Capital business loans review

High-cost working capital friendly to new businesses.

finder.com’s rating: 3.7 / 5.0

★★★★★

Bottom line: Everlasting Capital business loans are ideal for businesses that have had trouble qualifying for traditional financing. But while it’s relatively easy to get approved, it’s a lot more expensive than your standard business loan.

Details

Min. Amount$5,000
Loan Term6 to 24 months
APRN/A
Requirements3+ months in business, $6,000+ monthly bank deposits

Pros

  • Only requires three months in business
  • Low revenue requirement of $6,000 per month
  • No fixed maximum loan amount

Cons

  • High APRs of around 175%
  • Automatic daily repayments
  • Limited details available online

Everlasting Capital rates, fees and terms

Rather than charging interest, Everlasting Capital charges a fixed fee of $0.10 to $0.55 on the dollar. On top of this, you’re required to pay an origination fee of 1% to 2% of the loan amount. This works out to an APR of around 175%.

Merchant cash advances $5,000 with no maximum loan amount — though it's based on your monthly revenue. Terms run from six to 24 months.

How Everlasting Capital compares with other lenders

See how this merchant cash advance providers stands up to two similar companies.

★★★★★


Finder Rating: 3.7 / 5

Find out more

Loan amount

Starting at $5,000

APR

N/A

Loan term

6 to 24 months

Requirements

3+ months in business, $6,000+ monthly bank deposits

★★★★★


Finder Rating: 3.7 / 5

Find out more

Loan amount

$20,000 to $1,000,000

APR

Not applicable

Loan term

16 weeks

Requirements

At least $250,000 in the past 12 months of revenue, e-commerce business, use a 3rd party fulfillment center for storing and shipping inventory, at least one US location.

Everlasting Capital reviews and complaints

BBB accredited No
BBB rating B-
BBB customer reviews 1 out of 5 stars, based on 1 customer reviews
BBB customer complaints 3 customer complaints
Trustpilot Score 4.6 out of 5 stars, based on 62 customer reviews
Customer reviews verified as of 12 October 2020

Everlasting Capital gets mostly positive customer reviews. Many reviewers are particularly happy with the quality of customer service’s customer service. Several reviewers also state they found the loans fast and straightforward.

The few negative reviews were from customers who received unsolicited emails and had difficulty unsubscribing. It gets a B- rating from the BBB based on its failure to respond to a customer complaint.

How to qualify

You must meet the following criteria to qualify for an Everlasting Capital business loan:

  • At least three months in business
  • At least $6,000 in monthly bank deposits

How the application works

You can apply online through Everlasting Capital’s website or by calling 888-777-8144. After you fill out the initial form, a representative to get in touch with you to go over the rest of the application.

Everlasting Capital asks applicants to submit:

  • Three months of bank statements
  • A voided check
  • A copy of state-issued ID

Typically, it takes between 24 and 48 hours to receive your funds after you've been approved.

Repayments are daily, which Everlasting Capital automatically withdraws from your business’s bank account. If you have any questions, reach out to customer service as soon as possible.

What sets it apart

Everlasting Capital’s merchant cash advances are one of the few options available to newer businesses. Companies as young as three months old can qualify — as long as their bank account reflects at least $6,000 in monthly deposits.

Compared to other merchant cash advance companies, its fees are relatively low — some charge as much as $3 on the dollar. But it's still more expensive than a traditional business loan.

Is it legit?

Everlasting Capital appears to be a legitimate lender in that it publishes multiple ways to get in touch, and has verified its website's security with GoDaddy.com.

But it doesn't link to its privacy policy or terms and conditions on the website or the first page of the application. And its website also isn't transparent about the costs of its merchant cash advance.

Does Everlasting Capital offer any other products?

Yes, Everlasting Capital also offers equipment financing and leasing to small and midsize businesses. Loans run up to $1.5 million or 100% of your equipment’s cost. And you can take up to five years to pay them back.

Find out how Everlasting Capital compares to similar products with our guide to business loans.

Frequently asked questions

Answers to common questions business owners have for Everlasting Capital.

Are there any prepayment penalties?

There are no prepayment penalties. But since Everlasting Capital doesn’t charge interest, you’ll save nothing by paying off your loan early.

Where is Everlasting Capital located?

Everlasting Capital’s headquarters are in Rochester, New Hampshire. While you can’t set up an in-person visit to discuss your loan, you can send a letter:

Everlasting Capital Corporation Headquarters
27B Sterling Drive
Rochester, NH 03867

Business loan ratings

★★★★★ Excellent
★★★★★ Good
★★★★★ Average
★★★★★ Subpar
★★★★★ Poor

We rate business loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.

Read the full methodology of how we rate business loan providers to get a better picture of what goes into each star rating.

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