Looking for a business line, well be careful....
The offer I received was beyond unacceptable. Push Push Push, calls, emails and for what? Their first offer was a $250K line of credit at.... Wait for it, only a 4% cost of the draw, but I kept asking because a 4% cost of capital isn't bad at all but then the reality set in when the true terms were revealed. The fee for the line was... 4% A MONTH or only 48% a year. The reason for all the calls and emails was they thought they had a mark that they could pawn a usurious loan loan making themselves tens of thousands of dollars. I'd avoid companies like this. They will prey on you and bleed you dry.
By Brad R.
Response from Working Capital Marketplace· Mar 21, 2025
Hi Brad, the pricing you are referencing here is incorrect/not updated. Your approval is/was a 24 Month Line of Credit for $275K. Fees included a draw fee of 2.99% and then an average monthly simple interest rate of 1.33%/month with 100% prepayment discounts. We are a marketplace. We help business owners navigate business funding options and connect them with the funding sources that best fit their needs and credit/business profile. We help businesses review multiple options in a simple and time effective manner. We do not offer any of the funding options directly as such your review is not a clear or fair representation of how our company operates or of your approvals.