In a Nutshell
- Get a quote within minutes
- Wide range of financing options
- Only able to view rates once application is complete
- No 24-hour phone support
Rapid Finance at a Glance
|Direct lender or marketplace||Direct|
|Loan types||Small business, merchant cash advance, line of credit, bridge loan, SBA, invoice factoring, asset-based, commercial real estate|
|Loan amount||Varies depending on loan type, $500-$10 million|
|Repayment terms||Varies depending on loan type, between 3-30 years|
|APR||Available on application|
|Suitable for||Wide range of financing options for all types of businesses|
Launched as an alternative to traditional banks, Rapid Finance has provided more than $2 billion in funding to clients of all sizes across a range of industries. With an A+ rating from the Better Business Bureau, the company has established itself as a dependable player in the alternative funding market.
Why Rapid Finance Is Good For Your Business
Rapid Finance advertises flexibility as one of its greatest strengths and the company offers potential borrowers a lot of choice over their loan type, how much they would like to borrow, and the term of their loan. The company’s transparent quoting process also means you won’t be hit by any hidden fees or unexpected costs.
Rapid Finance offers a range of loan products:
- Small business loans: a lump sum of working capital for business purposes
- Merchant cash advance: fast access to capital based on future credit cards receivables
- Line of credit: quick access to a defined amount of working capital
- Bridge loan: a short-term loan to cover unexpected costs
- Small Business Administration loan: partially guaranteed by the government, these provide access to financing over the longer term and with lower administration costs
- Invoice factoring: a financing option enabling you to sell your business invoices in exchange for an immediate advance
- Asset-based loan: access to financing based on your business’ assets
- Commercial real estate: enables you to refinance or purchase a commercial property
The first step is applying online through the company’s website or by speaking to one of the company’s advisors over the phone. Depending on the loan type, you may need to provide information such as:
- Your full name
- Business name and address
- Your business tax ID (EIN)
- Details of previous tax returns
- An estimate of your monthly sales
Once you’ve entered this information, you’ll see a selection of loan offers you could qualify for, while the company’s underwriting team also reviews your application. Like many of its competitors, Rapid Finance advertises funds as being available “within hours”, which is faster than mainstream banks, but this process can take up to seven days.
How Much Can You Borrow?
The amount you can borrow will depend on your business’ circumstances and the type of loan.
- Small business loan: from $5,000-$1 million
- Merchant cash advances: $5,000-$500,0000
- Line of credit: $5,000-$250,0000
- Bridge loan:$5,000-$1 million
- SBA loan/invoice factoring: $500-$5.5 million
- Asset-based loan/commercial real estate loan: $50,0000-$10 million
The term of your loan will also depend on the type of loan.
- Small business loan: between 3-60 months
- Line of credit: amortization between 3-18 months
- Bridge loan: between 3-60 months
- SBA loan/invoice factoring: 1-30 years
- Asset-based loan/commercial real estate loan: 6-36 months
Privacy and Security
Help & Support
You can contact Rapid Finance over the phone, via email, or through its online query form. The company’s business hours are between 9:00 AM -6:00PM ET on Mondays to Fridays.
For more general queries, the website also contains a number of online resources, including small business guides and a blog featuring articles on business-related topics.
4500 East West Highway,
Bethesda, MD 20814
Rapid Finance provides a range of financing options to suit many types of businesses of varying size, industry or borrowing needs. Following a simple application process, you could get a quote within minutes and receive your funds as soon as the same day you apply.