Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
One Park Financial business funding marketplace review
Last updated:
Its network of lending partners offer merchant cash advances and other types of funding to all credit types.
- Best for new businesses looking for a merchant cash advances.
- Pick something else if you want to compare costs before applying.
$5,000
Min. Amount
$750,000
Max. Amount
Details
| Product Name | One Park Financial business loans |
|---|---|
| Min. Amount | $5,000 |
| Max. Amount | $750,000 |
| Loan Term | From 2 months |
| Min. Credit Score | 450 |
| APR | varies by lender |
| Requirements | 3+ months in business, $2,500+ gross monthly revenue, 450+ credit score |
Expert review
Review by
Anna Serio
anna.serio@finder.comAnna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
Expert review
One Park Financial is an online connection service that works with a network of 20 merchant cash advance companies. It could be a good option for companies that are too new to qualify for a traditional loan — or have otherwise struggled to get funded in the past. It only requires three months and business, a monthly revenue of $2,500 and a personal credit score of 450 to qualify.
But it’s not transparent about the fees its partners charge — which can sometimes reach the equivalent of a 300% APR or higher on these types of products. If you’d rather compare costs before giving out your personal information, you may be able to find a more transparency by applying through a provider directly.
How much will this loan cost me?
One Park Financial works with a network of providers that offer merchant cash advances, but doesn’t disclose the costs.
Merchant cash advances typically come with a flat fee rather than interest, which can range from 0.14 to 0.3 times your loan amount. In some cases it can run as high as three times the loan amount. This can come in addition to an origination fee, which is typically a percentage of your loan amount.
You can borrow between $5,000 and $750,000. One Park Financial’s partners offer terms starting at two months.
How it works
Merchant cash advances are typically based on your business’s sales history. How much you can borrow, the rate and the percentage of sales your business repays generally depends on your revenue. If your business has consistent cash flow and is profitable, it’ll likely qualify for a lower rate.
Often, your credit score or time in business aren’t important factors in determining the cost with this type of loan.
What do I need to qualify?
You need to meet the following criteria to qualify for business funding through One Park Financial’s network of lending partners, which it refers to as funders:
- In business for at least three months
- Gross monthly revenue of at least $2,500
- Minimum credit score of 450
- Not located in California
What information do I need to get started?
One Park Financial only asks about your business’s gross monthly sales when you first sign up. However, you might need to provide some or all of the following information to apply for a loan through one of One Park Financial’s partners:
- Business bank statements
- Government-issued ID
- Voided check from business bank account
- Business tax returns
- Proof of ownership
What industries does One Park Financial work with?
One Park Financial doesn’t explicitly restrict any industries. And typically merchant cash advances are available to industries that might not qualify for a bank loan — like construction or wholesaling.
Pros and cons
From its lenient eligibility requirements to its fast turnaround, there are a few perks of finding funding through One Park Financial. But it’s not right for all business owners.
Pros
- Open to all credit types
- Get connected in 24 hours
- Past bankruptcies OK
Cons
- Not transparent about costs
- Origination fee on top of financing fee
- Daily or weekly repayments
Compare more business financing options
Use the table below to see even more lenders that might be able to work with your business.
{"niche":"USFBL"}
Is One Park Financial legit?
One Park Financial is a legitimate connection service. It protects your information by only sending it through secured channels. And while you may receive promotional calls from its partners, you can opt out by sending an email to questions@oneparkfinancial.com with the phrase Opt-out in the subject line.
But since it’s a connection service, you’re signing up to share your information with 20 companies. You won’t be able to view their privacy policies or terms and conditions until after you sign up.
One Park Financial reviews and complaints
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 4.06 out of 5 stars, based on 34 customer reviews |
| BBB customer complaints | 11 customer complaints |
| Trustpilot Score | 4.4 out of 5 stars, based on 395 customer reviews |
| Customer reviews verified as of | 15 October 2020 |
Yes, most reviews on Trustpilot and the Better Business Bureau are positive. Borrowers praise the connection service’s swift process and sincere concern for their business’s needs. And almost all of the negative reviews were addressed by a One Park Financial representative — another good sign.
How do I get started?
You can begin the process of getting connected with a lending partner by calling 888-327-0849 or filling out a form on its website. Follow these directions to get started online:
- Go to One Park Financial’s website and click Get funded now.
- Enter details about yourself and your business, including your contact information and your estimated gross monthly sales.
- Click Get funded now.
What happens after I sign up?
A One Park Financial representative should get back to you in less than 24 hours with funding options you prequalify for. If you like an offer, you’ll then be redirected to the lending partner’s website to complete the application. Upon approval you can receive your funds in as soon as three business days.
How do repayments work?
For merchant cash advances, you typically pay daily or weekly repayments that are automatically deducted from your business bank account. Typically these are a percentage of your sales during the repayment period.
Read over your contract carefully to find information on how your repayments work and if there are any potential late fees or nonsufficient funds fees. If you have any questions, reach out to your lender for help.
Prefer to apply for a business loan directly? Compare other lenders with our guide to business financing.