SmartBiz Review

ByMichael GrawJan. 07, 2021
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In a Nutshell

SmartBiz helps your small business navigate the SBA process by checking whether you prequalify and by matching you with a lender. Because SmartBiz only works with companies that have solid finances and good credit histories, its lending partners tend to offer low interest rates. Plus, the company can speed up the SBA loan process so your business can get the money it needs within a few weeks.


  • Speeds up the SBA loan process
  • Low interest rates


  • Strict financial requirements
  • 6% fee for bank term loans

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SmartBiz at a Glance

Direct lender or marketplace? Marketplace
Loan types

SBA 7(a) Loans, Small Business Bank Term Loans

Loan amount

$30,000 to $350,000 (refinancing or business expansion)

$500,000 to $5 million (commercial real estate)

Repayment terms

10-25 years (SBA loans)

2-5 years (bank term loans)

Minimum credit score640
Minimum monthly revenue$10,000

4.75% - 7.00% (SBA loans)

11.67% - 31.66% (bank term loans)

Suitable for Small businesses with strong financials


SmartBiz is a lending marketplace that helps small business owners get the financing they need quickly. This platform works with a network of reliable SBA lenders to offer both SBA 7(a) loans and traditional bank term loans for small businesses. 

The most attractive thing about SmartBiz is that the lenders it works with generally offer attractive loan terms. Small businesses can get commercial real estate loans with an APR as low as 4.75% and business expansion loans with an APR as low as 6.00%. SBA loans have a repayment term from 10 to 25 years, which keeps monthly payments relatively affordable as well.

A key thing to note about SmartBiz is that it requires that applicants have strong financial and credit histories. The platform requires that business owners have a personal credit score of 640 for SBA loans and an annual income of at least $120,000 for loans up to $150,000.

Why SmartBiz Is Good For Your Business

If your business has been around for at least three years and has a strong financial record, SmartBiz is one of the most attractive SBA lending marketplaces available. The lenders that SmartBiz works with offer  SBA loan interest rates as low as 4.75%. In addition, SmartBiz is free to use when applying for SBA loans and you can get money in as little as 7 days after being approved by a partner lender.

Loan Features

SmartBiz offers several different types of loans for small businesses. The main type of loan offered by this platform is an SBA 7(a) loan, which is available in amounts from $500,000 to $5 million for commercial real estate purchases or $30,000 to $350,000 for business growth. SmartBiz’s partner lenders also offer traditional bank term loans, which come with fewer restrictions but higher interest rates and monthly payments.

  • SBA 7(a) commercial real estate loans
  • SBA 7(a) business expansion loans
  • Bank term loans

Application Process

SmartBiz speeds up the SBA loan application process by enabling you to prequalify. The prequalification process requires information about your business’s financial history and revenue, as well as helps you fill out the paperwork required for an SBA loan. Prequalification involves a soft credit pull that won’t harm your credit.

If you prequalify, SmartBiz will then match you with a partner lender. The partner lender will help you finalize your loan application, which requires a hard credit pull. Typically, you can complete the SBA loan process within a few weeks and receive money within 7 days of being approved.

How Much Can You Borrow? 

The amount you can borrow through SmartBiz’s partner lenders varies depending on the type of loan your business needs:

  • SBA 7(a) commercial real estate loans: $500,000 to $5 million
  • SBA 7(a) business expansion loans: $30,000 to $350,000
  • Bank term loans: $30,000 to $500,000

Repayment Terms

SBA 7(a) loans have a longer repayment term from 10-25 years. In addition, they receive reduced interest rates since they are backed by the government. Traditional bank term loans have a shorter repayment term (2-5 years) and higher interest rates:

  • SBA 7(a) commercial real estate loans: 4.75% APR, 10-25 years
  • SBA 7(a) business expansion loans: 6.00% APR, 10-25 years
  • Bank term loans: 11.67% - 31.66%, 2-5 years

How Safe Is It?

SmartBiz uses 256-bit encryption to protect all clients’ personal and financial data - the same level of encryption used by most banks. The company also has a very transparent privacy policy that makes it clear that SmartBiz doesn’t sell clients’ information.

Help & Support

SmartBiz offers customer support by phone, email, and live chat from 7:00 am to 5:00 pm PT, Monday to Friday.

Phone: 866-283-8726



SmartBiz streamlines the process of getting an SBA or bank term loan for your small business. The platform has strict financial requirements but offers low-interest rates through its network of partner lenders. SmartBiz helps your business prequalify for a loan with a soft credit check and offers customer support 5 days a week.

Physical Address

SmartBiz, 433 California Street, San Francisco, CA 94104

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SmartBiz customer testimonials

ExcellentReviews 1,128
TrustPilot is the world’s most powerful review platform, free and open to all.
  • author
    Malik Khan
    3 days ago
    Very easy

    Noce easy and poliet way


  • author
    Papa Scott
    2 days ago
    Smartbiz Loans Auto Rejects bankruptcy on credit report

    I'm Half way thru my 5 Years of Repayment Plan on a Chapter 13 Bankruptcy, however the new Round of PPP Loans specifically States that Lenders cannot use the Bankruptcy against the Applicant in this Round. The First Round all SBA PPP with previous Bankruptcy was declined and lots of Lawsuits so Congress and Senate made sure they Address the Bankruptcy this time around. Smartbiz states that they updated their Application for this Round, Well I believe they conveniently Forgot to Let the Robots except a Application with Bankruptcy on Credit report. I have been Rebuilding my Credit since the Bankruptcy and am almost back up to 700 Credit Score. So I know a Applicant with Credit scores in the Range of mine (672 Equifax and 669 Trans union) would have zoomed thru the Approval. I Just applied for PPP SBA Loan and got Declined! Its the Bankruptcy, So if you have a Bankruptcy on your Credit Report, Do Not apply with SmartBiz Loans or you will get a Ding Inquiry on your Credit Report for Nothing. What a Waste of time. I believe their will be Lawsuits this time around since the Bill Specifically stated Bankruptcy was not to be considered a Factor. I believe SmartBiz Loans just does not want to deal with people that have had BK and that is why they did not update their Software to accept applications with BK. I thought they were supposed to Help SmartBiz Loans. Whats the Deal! Use someone else for PPP SBA LOAN


  • author
    T Brock
    4 days ago
    5 Stars- thank you very much!

    Super knowledgeable, professional and fast turnaround! Thank you to the entire team!


  • author
    Sal G
    Dec 28, 2020
    GREAT experience start to quick finish!

    Kalvin Chiu did a great job handling my application and approval process! The communication was clear, concise, and correct. Additionally, the whole process took only 3 weeks from our first call to being funded! In a sector that can have you scratching your head trying to separate the companies that can legitimately and quickly help from some others who are "all sizzle and no steak," as they say, SmartBiz Loans was a GREAT option for us!


  • author
    Dec 21, 2020
    My agent was Nick and Jimmy

    My agent was Nick and Jimmy. I got the Royal Treatment throughout the whole process. When I was filling out the application, I had some questions and Brian was helping me on a chat and called me to better assist me with the issues I was having. This group of guys hold your hand and make sure you get to your destination, funding, without any problems....