Blueacorn is an online lending platform that makes it easy to get the PPP loan you need to start or grow your business. Founded in 2016, Blueacorn is backed by experienced entrepreneurs and focuses on providing access to flexible PPP loans with competitive rates for individuals and small businesses with little or no credit history. Here’s what you need to know about Blueacorn PPP loan at a glance…
What is a PPP Loan?
A PPP loan (short for private participation program) is an alternative to getting a bank loan. It’s basically like crowd-funding, but instead of getting money from friends and family members, you’re borrowing from individual investors or companies that are interested in your project or business. There are no guarantees that you’ll get funded when you go through with a PPP loan.
The process involves applying for funds and then your lender deciding whether they want to lend to you. If they decide not to fund you, you don’t have any legal rights against them if there’s ever some sort of dispute down the road. You also have to pay interest on your loans in most cases—the idea being that lenders should make their money back in addition to their investment.
What Makes Blue Acorn Different?
There are several other factors to consider, including type of collateral, term length and closing costs. Blue Acorn offers competitive rates on loans secured by both business and personal property; however, we offer higher rates for non-owner occupied real estate, such as rental properties. Typically, longer loan terms mean lower monthly payments but with higher interest over time; conversely, short-term loans can offer lower overall costs. And since all loans provided by Blue Acorn are unsecured — meaning we don’t ask for collateral — we never charge fees for early payoffs or prepayment penalties.
How To Qualify For a PPP Loan
First, you’ll need to fill out an application and submit it to Blue Acorn. If you qualify, we’ll present you with two lending options: Unsecured (Signature) Loan – An unsecured loan is one where your collateral doesn’t secure or back your loan. You don’t provide any assets to us as collateral for your loan. In return, we offer lower interest rates on signature loans as compared to secured loans because there are additional risks associated with them since lenders have no guarantees that they will be repaid.
How Does It Work?
Blueacorn offers two types of loan products: personal loans and small business loans. If you’re in need of cash, apply for a personal loan. Our simple application process means your money is in your account in just three minutes. If you want to buy or start a business, apply for one of our small business loans to fund your dream. We offer competitive rates and flexible repayment options so that every entrepreneur can get access to capital when they need it most. To learn more about how our products work, click here .
How long does it take to get a PPP loan from Blue Acorn?
The short answer is that it depends on your credit score. If you have poor credit, it could take 3–6 months to get your loan after funding your account. You may also want to consider other options before taking out a loan from Blue Acorn, such as personal loans from banks or friends and family members. Keep in mind that our partners can help you find sources of funding beyond just PPP loans from Blue Acorn so be sure to let us know if you’re looking for a specific type of loan or financial product.
Blueacorn is both an acronym for Business Ownership Leads to Poverty Alleviation and a symbol of financial freedom. Founded in 2013, Blueacorn provides access to affordable loans for small businesses and entrepreneurs. The company was founded with one goal in mind: allowing people to build wealth through their own businesses.
Blueacorn has helped thousands of people achieve that goal by providing millions of dollars in financing for small business owners across Africa, Latin America, and Asia. This financing has allowed countless individuals—particularly women—to set up successful businesses that are not only profitable but provide benefits for entire communities.
Is Blueacorn still doing PPP loans?
The Blueacorn PPP loan is no longer available. However, if you are interested in an alternative, check out our latest loan product, the Unsecured Business Loan. This unsecured business loan has a great interest rate of 6% with no credit checks needed!
Is Blueacorn PPP loans legit?
Blueacorn PPP loans is a legitimate lending company that gives out personal loans for people who are in need of financial assistance. The company is not like the other lending companies because it does not charge high interests. It charges minimal interest rates, which makes it easier for people to repay their loan on time. It also has flexible payment plans that make repayment easy for borrowers.
Blueacorn PPP loans has been in the news lately due to its unique loan structure. Its founders claim that it is a revolutionary type of loan service and in this article I will examine whether or not this claim is true.
How long does it take for Blue Acorn to approve PPP loan?
After a rigorous application process, Blue Acorn takes anywhere from 2 to 4 weeks to approve a new PPP loan. In order for a borrower to qualify for a PPP loan, they must meet several requirements.