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One Park Financial Small Business Loans Review


ConsumersAdvocate.org Rating: 3.3 / 5 (Very good)
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One Park Financial is a small business funding marketplace that's been in operation since 2010. It partners with 20 funders across the nation to help owners of small business access funds to meet their business goals as quickly and easily as possible. In particular, One Park Financial focuses on serving business owners who might not easily qualify for a traditional business loan.
 
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How is One Park Financial rated?

Breakdown

3.3/5
Loan Options
3.3/5
Application Requirements
3.3/5
Average Rates & Fees

Overall Rating: 3.3 / 5 (Very good)

One Park Financial partners with 20 funders nationwide to offer financial options designed to fit the needs of small business owners. This is an appealing choice to those who want a quick alternative to a traditional business loan. Nearly all businesses, even those with a less-than-perfect credit history, can be pre-approved within minutes and after accepting and offer, receive funds within days. Data on pricing is limited because each partner lender has its own rates. However, as many applicants are considered "high risk," by the financial services industry, fees for alternative funding are typically higher than traditional bank loans. Therefore, make sure you read the fine print and exhaust all of your more affordable options first before going this route.

Loan Options

Available Loan Types

SBA Loans
Revenue-based Financing
Equipment Funding
Working Capital Loans
Term Loans
Lines of Credit
Invoice Financing
Merchant Cash Advances
Equipment Loans

Merchant Cash Advance

Min Loan Amount
$5,000
Max Loan Amount
$750,000
Min Term Length
6 months
Max Term Length
12 months
Repayment Terms
Fixed weekly or daily payments

Loan Options - 3.3 / 5

One Park Financial partners with 20 funding sources around the nation to offer funding options, the most common being MCA's, to businesses who need cash quickly. You can access anywhere from $5,000 to $750,000 with most MCAs having repayment terms between six and 12 months. While this is one way to get the funds your business needs, One Park Financial partners also offer additional funding options. Small business owners can discuss their needs and requirements with a One Park Financial team member to determine what type of funding will work best for them.

One Park Financial Rates & Fees

Merchant Cash Advances

Fees: One Park Financial charges a 2.5% professional service fee once you've been funded.

Average Rates & Fees - 3.3 / 5

There's no way to know how much it will cost you to get a merchant cash advance through One Park Financial without getting a quote. This is because it partners with 20 funders who each have their own fee schedules. However, MCAs are usually not the most affordable way to fund your business, and some can have APRs in the triple digits. Then, you have to pay a service fee to One Park Financial on top of this. If you're struggling to get a traditional business loan due to poor credit or a short business history, an MCA from One Park Financial may be worth considering, but be sure to investigate the costs before signing on the dotted line.

Application & Qualifications

Online Application
Approval Time
Pre-approval within minutes
Funding Time
1 to 3 business days
Min. Years In Business
0 year(s)
Min. Annual Revenue
$30,000
Min. Credit Score
450

Application Requirements - 3.3 / 5

It's easy to get approved for a One Park Financial merchant cash advance. You fill out the application on the company's website and it will instantly tell you how much money you've been pre-qualified for. To pre-qualify you need a credit score of 450+, at least $2,500 in gross monthly revenues and have been in business for at least three months. This makes One Park Financial appealing to those who have been denied business loans elsewhere. Once you're approved, you'll receive your funds within one to three business days.

One Park Financial Reputation

Customer Feedback

Trustpilot Score
8.3 out of 5
BBB Rating
A+
BBB Positive Reviews
22
BBB Neutral Reviews
0
BBB Negative Reviews
5
Date Collected
2019-04-19

Consumer Education - 3.3 / 5

Most customers who work with One Park Financial are pleased with the quality of service they received. The company has received an 8.3 out of 10 from Trustpilot and over 80% positive reviews with the Better Business Bureau (BBB). The company is prompt about responding to unsatisfied customers, which has helped it achieve an A+ rating from the BBB.

Contact & Additional Information

Homepage URL
https://www.oneparkfinancial.com/
Company Phone
(888) 326-9650
Headquarters Address
3390 Mary Street, Suite 216, Coconut Grove, FL, 33133
Year Founded
2010

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Top Rated
Our Partner

Applying won’t affect credit score

  • Loan Amounts: $5,000 to $250,000

  • Average Yearly Revenue requirements:$100,000

  • Minimum Credit Score: 625 FICO

  • Minimum Time in Business to apply: 1 year

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(800) 326-7454
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