Frequently Asked Questions

    1. You must be over the age of 18.

    2. You must have a Social Security Number (SSN) OR an Individual Tax Identification Number (ITIN).

    3. You want to start or grow a business. (We don’t offer personal loans.)

    4. Your business must be located in one of the states we serve: 

    Alabama, Arizona, California, Colorado, Florida, Georgia, Illinois, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, Nevada, New Mexico, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Washington, and Wyoming.

    5. If you recently received a DreamSpring loan, we will take this under consideration during the underwriting process. We want to ensure your financial health and small business success.


    We can consider lending to businesses with any structure: sole proprietors, limited liability companies, corporations, partnerships, and nonprofits. DreamSpring lends to businesses in a wide variety of industries, including food and beverage, transportation, retail, manufacturing, design, software, professional services, construction, landscaping, and many more.

    Any business-related expense that helps you start or grow a business, including inventory, equipment purchases, vehicle purchases, payroll and material costs, marketing, buying the assets of an existing business, refinancing debt, and hiring expenses. DreamSpring prohibits loan funds from being used to pay past due bills, tax bills, or personal expenses.

    For answers to frequently asked questions about our ACH payment process, please see our knowledge base articles. 

    There is no obligation if you’re approved for a loan. We hope you will consider DreamSpring for your future financing needs.

    No, we don’t charge prepayment penalties. Your cost for taking out a loan will include the closing fee and interest accrued until the balance is paid in full. Late fees and collection fees may be charged if you do not pay as agreed.

    No, we can figure out how much you qualify for without affecting your credit score. If you choose to proceed and take out financing, we will make a formal inquiry of your personal credit which will be reflected on your credit report.

    Yes! We lend to businesses that are up and running as well as to aspiring entrepreneurs who are starting a business.

    We can consider applications from applicants who have either a Social Security Number (SSN) or an Individual Tax Identification Number (ITIN).

    DreamSpring has been a long-time advocate for the rights of borrowers. We have signed on to The Small Business Borrowers’ Bill of Rights (BBoR), the first-ever consensus on responsible small business lending practices. Find more information on The Small Business Borrower's Bill of Rights (BBoR) here.