I didn’t receive an offer. How do I obtain a Chase Business Quick Capital loan?
Chase Business Quick Capital loans are no longer available. If you are interested in other lending products, please visit https://www.chase.com/business-banking/business-loans.
How do I repay the loan?
Depending on the loan term you selected, you will repay your loan over an available term up to 24 months. We will deduct your loan payment from your Chase business checking account when the payment is due. For a daily payment loan, repayment started the business day after you received the loan amount in your account, and for a weekly payment, loan repayment started the following week on the same day of the week that you received the loan amount. For information on how to make additional payments or pay your Chase Business Quick Capital loan in full, please call us at 1-888-899-2619.
What is Annual Percentage Rate (APR)?
Annual Percentage Rate (APR) represents the total cost of the loan (Total Interest and the Origination Fee), expressed as an annual rate. The APR calculation takes into account the amount and timing of scheduled periodic payments, and is annualized based on the number of payments in a calendar year - 252 for a daily repayment schedule (there are 252 business days in a full calendar year) and 52 for a weekly repayment schedule. APR is not used to determine your Total Interest; it is only for comparison purposes. APR is most effective when comparing loans of equivalent terms.
The checkout process and your loan agreement supplement also provide pricing information to help you better understand loan pricing, including total interest and the calculation of your payment amount.
What is simple interest?
Simple interest is a rate of interest that is calculated by dividing the Total Interest by the principal amount of the loan; it represents the total amount of interest that you will pay as a percentage of the amount borrowed. It does not include the Origination Fee. It is not annualized and you should use caution in comparing it to interest rates expressed in annualized terms or to loans with different durations.
Is there a prepayment fee?
You may prepay your loan in whole or in part in accordance with Section 10 of your Business Loan and Security Agreement, and no additional fees will apply. Scheduled automatic payments will continue after partial prepayments, which may result in the loan being paid off earlier than originally scheduled. You should keep in mind that partial prepayments will not reduce the total interest on the loan, but a prepayment in full will.
Can I access Chase Business Quick Capital account information on chase.com?
Yes, your loan will appear online with your chase.com business accounts.
What if I have other questions about this loan?
Call us at 1-888-899-2619 or email us at customerservice@quickcapital.chase.com.
