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United Settlement » Business Debt Relief » Small Business Debt » Quarterspot
admin March 30, 2018

Quarterspot

Small business loans fast

Quarterspot is an alternative business lender that caters to small businesses possessing weaker credit profiles and seeking short-term loans. Quarterspot offers short-term loans ranging from $5,000 to $200,000 that feature duration of nine, twelve, or eighteen months and annual percentage rates ranging from 30% to 70%.

Despite these high interest rates, Quarterspot loans can make sense for those small businesses with weaker credit profiles who are in need of a quick short-term infusion of working capital, as most loans are funded within five days of an a completed application. Importantly, Quarterspot small business loans have no prepayment penalty, so in the event that a borrower becomes able to pay off the loan early, the high level of interest expense can be curtailed.

short-term-loans

Quarterspot Requirements

Though Quarterspot is not particularly credit-score sensitive, it does require that the business owner possess a FICO score of 550 or higher. Additionally, the small business seeking the funding must have been in business for at least twelve months, and must show an average revenue of $16,000 per month for the most recent ninety days, as well as an average of ten sales per month and a minimum $2,000 average business bank account balance.

After the small business owner electronically submits the three most recent months of business bank statements and its most recent tax return, Quarterspot makes a lending decision based on income, expenses, bank transaction history and the overall perceived financial stability of the business. Quarterspot caps its loan approval amounts at up to 15% of a small business’ annual revenue.

credit-score-business-revenue

Quarterspot Pros and Cons

One of the advantages of Quarterspot is that it will grant loans to small business owners with weaker credit scores, and generally in a fairly rapid fashion – often within two business days. However, this availability and convenience does come with a price, as the average APR for a Quarterspot short-term business loan is 44% and Quarterspot charges origination fees ranging from 6-9% of the loan amount that are deducted from the amount of funding prior to the small business receiving it.

Meantime, in spite of the high interest expense and origination fees associated with a Quarterspot short-term small business loan, borrowers can benefit from the lack of a prepayment penalty. This implies that if a business owner is able to secure a loan at better terms through the Small Business Administration or elsewhere, it may refinance accordingly and simply pay off Quarterspot early, thereby saving significant interest expense. Additionally, Quarterspot does report to several personal credit bureaus and business credit bureaus, a process that helps small businesses build and enhance their business credit scores and profiles.

Payments on Quarterspot loans literally begin the day after receipt of funds by the small business and follow a daily remittance schedule automatically on each ensuing business day. Furthermore, even though the loan is for a small business, Quarterspot requires a personal guarantee. This means that personal assets are at risk in the event of default. Additionally, in the event of default, Quarterspot can file a UCC lien against the small business, implying that the business and its underlying assets also serve as a form of collateral.

Business Debt Relief

Sometimes, even with the best of intentions, a small business owner can run into trouble after taking out a high interest rate, short-term loan. If you are currently burdened by high levels of business debt, the process of pursuing debt settlement may make sense for you and your small business. Debt settlement occurs when a debtor successfully negotiates a payoff amount for less than the total balance owed on a debt.

This lower amount is agreed to by the creditor and is fully documented in writing. Though creditors are under no legal obligation to accept debt settlement offers, negotiating and paying lower amounts to settle debts is far more common than you may realize.

United Settlement and Quarterspot

QuarterSpot is in the small business loan marketplace. At United Settlement, we are proud to help those small businesses truly in hardship. We do not deal with businesses that are not already behind on payments and / or on the brink of closing shop. Our core values, integrity, and ethical approach helps us maintain strong working relationship with juggernauts such as QuarterSpot.

Our experienced debt settlement professionals have successfully negotiated business debt settlements with QuarterSpot for clients who truly were facing serious financial hardship and stress that have resulted in large saving the total balance owed. At United Settlement, our experienced business debt settlement specialists possess past relationships with QuarterSpot and more small business lenders.

Our team has an expert level understanding small business landscape, we know when a business is facing hardship and can help get you to financial freedom. See if you qualify for small business debt relief.

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Annette Huggins

March 14

That when it seems like nobody can help United will.

This was a great experience for me. I am just starting but Madelene Gallon made me feel like we were friends for years. She tried to make me feel that she would help me and make sure I got the best deal...

Kiirstin

March 01

Kind and caring

Had been searching for a while for a company I could trust to get me out of crippling debt. Really didn’t think it was possible. Spoke to Ben at United Debt and he assured me that not only was it possible,...

Kiirstin

March 01

Kind and caring

Had been searching for a while for a company I could trust to get me out of crippling debt. Really didn’t think it was possible. Spoke to Ben at United Debt and he assured me that not only was it possible,...

Dylan

February 28

Quick, easy assistance!

I've been working with Ben at United Debt to help me organize and get out of debt for once - I've been dealing with debt for ages and Ben showed me some simple ways to begin dealing with things to keep...

Takota Carrie

February 14

I need help

I really appreciate

JONICA Amber PIRON

December 21

Great!

Renika went above and beyond today to help me. She is wonderful to work with! Thank you again Renika for all of your help today! Happy Holidays to you!

Jayvon

December 20

Paying back

They where great listeners

Shawn abetha

December 14

Everything

Thanks

Robert Phillips

November 23

Do your home eork

Paid several thousand dollars and nothing done. Ended up settling 90%by myself. This is a preatory company. So do your homework. This will never post.

Dm

November 18

Customer service is truly helpful

Renika was so helpful. My account was paid off but I kept receiving notifications. She cleared up the situation.

Jose Rosa

November 16

Great Customer Service

Renika did a wonderful job handling my questions and transactions. She is very patient on the phone and took care of my needs accordingly.

Russ

November 03

Very helpful

Renika did a great job in answering all of my questions in a timely manner. She was polite and friendly. Keep her on the payroll.

Anthony Desoto

October 31

What's Important to me is United Settlement Costumer service !

United Settlement Costumer service is Amazing Everyone is Professional . I am so happy choosing them with my card Debt. thank you all for helping me out .

Ri cky

August 23

That this company has integrity!

A responsive company that keeps it clients up to date and fully informed. I like the fact that I can send them a text and be guaranteed an answer within 24 hrs.

Jerry Bolandis

June 04

Professional and focused on facts and truth not hype. Excellent. We want to know facts.

Great work very professional and great updates. Communication is excellent.

janice head

October 25

trust them

Excellent. Also each time i call there they treat me with respect even though they are probably thinking jerk . You sure have made mess of your life. but they have been taught to smile smile smile. this...

Scott W O'Neill

August 01

Thanks for all your help and negotiations.

Thanks for the update! I have faith in you guys and will continue my payments. Thanks for all your help and negotiations.

Cassandra Robinson

July 30

That A Settlement Was Entered.

I Absolutely Love You All At United Settlements. You All Have Saved My Credit Solutions. I Would Refer Everyone To You Services.

Mildred Yvonne Sherron

July 16

The results of the settlement attempts.

So far, I have found United Settlement more than satisfactory. Very conscientious and very efficient in providing a service in debt settlement. Thank you and all the members of your team who are assisting...

Diana Cardona

July 16

Tough Financial Hard Times During Covid-19

I signed up with United Debt Settlement because of large credit card debts, which had taken a financial toll on my credit. UDS has an outstanding reputation assisting clients like me achieve financial recovery...

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    Clients who stay according to debt relief program can realize approximate savings of 50% before fees, or 25% including fees, over 24 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for reasons such as: their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period. We do not assume consumer and/or business debt, provide tax, bankruptcy, accounting, legal or credit repair services/ advice. Our program is not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. If you have any additional questions please contact us. NMLS ID: 1947026
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