Rapid Finance
check_circleverifiedRapid Finance, formerly known as RapidAdvance, was founded in 2005 and has since grown to be one of the biggest names in the alternative business financing industry. With personalized customer service, competitive rates, and flexible funding options, Rapid Finance has been a preferred financing company to over 10,000 businesses.
The company's variety of financing options puts them at the forefront of the industry. Applications are not solely based on credit score, and financing amounts start at $5,000. Customers can get approved in as little as eight minutes and can receive funding in as little as 24 hours. Rapid Finance also provides a business advisor who will work with customers one-on-one in order to service every unique business situation.
The Good
- Variety of Financing Options
- High Maximum Loan Amount
- High-Quality Resources
- Customer Support
- Rapid Finance Reviews
Variety of Financing Options
Rapid Finance provides a variety of financing options for borrowers to choose from. For example, the company's small business loan is a great fit for small businesses that do not meet the criteria for an SBA loan.
Rapid Finance also provides a merchant cash advance and a line of credit option, which are both good options for short-term cash needs. Small businesses can purchase new equipment, bolster their payroll, or pay off tax liens with the MCA or line of credit products.
Through its lending partners, Rapid Finance allows customers to participate in SBA-approved bridge and long-term loans. With Rapid Finance and its partner network, businesses can receive financing ranging from $1,000 to $1,000,000 depending on gross sales.
High Maximum Loan Amount
Rapid Finance offers loan amounts up to $1 million. This is convenient for business owners who need more financial help. Many lenders in the industry only offer loan amounts closer to $500,000, giving Rapid Finance a leg up on its competition.
High-Quality Resources
Rapid Finance’s website provides excellent resources for small business owners including white papers, slide share presentations, and an e-book on marketing best practices. Its blog is updated frequently and includes a long list of articles covering several small business topics.
Customer Support
When clients choose to work with Rapid Finance, they'll have access to a personal business advisor who can help them determine which financing options are right for their business.
Rapid Finance also provides a number of other tools for borrowers, including a client portal that is accessible around the clock and allows borrowers to upload documents, see payment information, and review financing when applicable.
Rapid Finance Reviews
The majority of Rapid Finance reviews are positive, giving the company a high rating from consumers. Rapid Finance customers highlight quick loan approval and funding time, great staff and customer service, and competitive rates. With such high ratings from customers, future borrowers can have peace of mind knowing Rapid Finance is a trusted lender that delivers quality and satisfactory service.
The Bad
- Does Not Fund Startup Companies
- State Availability
- Excluded Businesses
Does Not Fund Startup Companies
To qualify for a loan with Rapid Finance, businesses have to meet certain requirements, such as being in business for at least six months and having at least $5,000 in monthly revenue. Business owners will need to have a credit score of 550 or higher. Rapid Finance does not provide funding for startups, so those looking for startup funding will need to look elsewhere.
State Availability
Rapid Finance currently does not offer its services to businesses in New Jersey, Nevada, Rhode Island, South Dakota, and Montana.
Excluded Businesses
Rapid Finance does not service the following business types:
- Annual memberships
- Adult entertainment
- Bail bonds
- Casinos
- Churches and all Non-Profits
- Collection agencies
- Consumer debt counseling services
- Direct/multi-level marketing (i.e. pyramid marketing)
- Firearms
- Flea market
- Home-based door/door-no lease space
- Kiosks
- Law firms
- Marijuana (dispensaries, producers, distributors)
- Payday loan companies/ other lending businesses
- Travel agencies
- Car services
- Automobile Dealerships
The Bottom Line
Overall, Rapid Finance has some great options available for those in search of business financing, including a merchant cash advance, a line of credit, and small business loans. In business since 2014, the company is extremely experienced in the lending industry. In addition to offering a wide variety of financing options, the company offers a simple application process, quick approval and funding times, high-quality resources, and respectable customer support.
If you are a consumer looking for a trusted lending option and your company has at least six months in business and $5,000 or more in monthly revenue, Rapid Finance would be a great lender to look into. You can find Rapid Finance reviews below to learn more about the customer experience with the lender.
Call our recommended rep over at Rapid Finance below.
1-(866) 564-3221
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User Reviews
Star Rating
192 Reviews
Review Breakdown
Sentiment Criteria
My loan was for 10,000. With instrest I knew it would be a little over 13,000 . My mom has been battling CANCER so I had to stop working, which caused my loan to go in bad standing. My loan was referred to another company by rapid finance who refuses to give me a breakdown of why I'm being charged $3,500 in fees. I've already paid the instrest on my loan so how and why was $3,500 extra added and no one has a legal reason as to why
Reply from Rapid Finance
Nov 15, 2019
Rapid Finance reached out to the customer and the Parties have come to an amicable resolution.
Verified Customer
GREAT SERVICE, i STATED WHAT i NEEDED AND THEY WORKED TO GET ME THE AMOUNT AND THE RATE i WANTED TO STAY WITH
Reply from Rapid Finance
Dec 05, 2019
Hello, Thanks a lot for the positive feedback! Our member's satisfaction is our utmost priority and we appreciate your trust in Rapid Finance. Hope you have a wonderful day!
Verified Customer
Fast and easy. I was able to get a loan very quickly for my business
Reply from Rapid Finance
Dec 05, 2019
Hello, Thanks a lot for the positive feedback! Our member's satisfaction is our utmost priority and we appreciate your trust in Rapid Finance. Hope you have a wonderful day!
Verified Customer
It was quick and easy to get a decision.
Reply from Rapid Finance
Sep 18, 2019
Thanks for your review! We are glad we could be a part of your business' growth✅
Verified Customer
Very quick and responsive to emails and questions
Reply from Rapid Finance
Sep 18, 2019
Thanks for the 5-star review, Kim! Being quick and responsive is very important to us, and we're glad you had a great experience. Thanks for choosing Rapid Finance👍
Verified Customer
Very easy very quick decision no too many paper work
Reply from Rapid Finance
Sep 18, 2019
Thank you for the review, Ahmeduz! We pride ourselves on providing simple and quick solutions to our clients. Thank you for choosing Rapid Finance😊
Verified Customer
THEY PROVIDED WHAT THEY SAID THEY WOULD AND VERY EASY TO WORK WITH
Reply from Rapid Finance
Sep 18, 2019
Hi David. Thanks for sharing your experience with us! We appreciate the positive feedback and are glad we could be a part of your business' growth😊
Verified Customer
They were easy to work with and they really helped me through the whole process.
Verified Customer
Most experienced, quick approval and great customer service. Everything went very smooth and simple. They did a very good job.
Reply from Rapid Finance
Sep 11, 2019
Hi, Thank you so much for sharing your experience with Rapid Finance.
Verified Customer
Great customer service skills and promptly return your calls. The loan process was quick and easy.
Reply from Rapid Finance
Sep 11, 2019
Hello, Thanks for the excellent review! We work hard to meet expectations like yours, and we’re happy to hear we hit the mark for you. Cheers!
Verified Customer
I selected them because they were fast. Initially they were great, but I had some issues with getting funded the second time around and it was a bad experience.
Reply from Rapid Finance
Sep 11, 2019
Hi, Thank you so much for sharing your experience with Rapid Finance.
Verified Customer
Rapid Finance has best rate I could get for money. It was just very very easy to to apply and then they do whatever I need to close out the transaction.
Reply from Rapid Finance
Sep 11, 2019
Hello, Thanks for the excellent review! We work hard to meet expectations like yours, and we’re happy to hear we hit the mark for you. Cheers!
VERY PROFESSIONAL, BUT THEIR RATES ARE RIDICULOUS. PLUS 700 SCORE, GAVE THEM SIX MONTHS OF BUSINESS BANK STATEMENTS, BEEN IN BUSINESS 5 PLUS YEARS, NO DINGS ON MY CREDIT AND WANT A 25% INTEREST ON A 12 MONTH 15K DOLLAR LOAN!! NO THANKS!!!
Reply from Rapid Finance
Aug 09, 2019
Hello, Thank you so much for sharing your experience with Rapid Finance. We hope you will reconsider working with us in the future.
Verified Customer
Excellent customer service great product the delivery time was what they promise overall great experience
Reply from Rapid Finance
Jul 12, 2019
Thank you so much for your kind words. We really appreciate you taking the time out to share your experience with us.
Verified Customer
Very helpful in helping with loans and explaining terms
Reply from Rapid Finance
Jul 12, 2019
Thank you so much for sharing your experience with Rapid Finance.
Verified Customer
EASY STRAIGHT FORWARD SERVICE POLITE STAFF
Reply from Rapid Finance
Jul 12, 2019
Thank you so much for sharing your experience with Rapid Finance.
Verified Customer
Quick,professional.Anna was very knowledgeable of everything
Reply from Rapid Finance
Jun 28, 2019
Hello, Thank you so much for sharing your experience with Rapid Finance.
Verified Customer
It was unclear to me that I would NOT save money by paying off the loan early. You pay the high fee whether you pay off the loan at the end of the term, or within one month.
Reply from Rapid Finance
Jun 28, 2019
Hello, All feedback is important to us. We strive to provide excellent customer service and would love to speak to you further. If your schedule permits, please reach out to our Client Service team at 240.514.1962.
Verified Customer
fairly quick and easy to do business with
Reply from Rapid Finance
May 20, 2019
Hi Winton. Thank you so much for sharing your experience with Rapid Finance.
Verified Customer
Very Helpful , Fast Return and Great Customer Service , have used three times now and the turn around and commutation was out standing
Reply from Rapid Finance
May 06, 2019
Hi Debb. Thank you so much for sharing your experience with Rapid Finance
Verified Customer
Cooperative and helpful at a time that we needed their services
Reply from Rapid Finance
May 06, 2019
Hi Dale. Thank you so much for sharing your experience with Rapid Finance
Verified Customer
Effective & efficient. Quick solutions great response time
Reply from Rapid Finance
May 06, 2019
Hi Alice. Thank you so much for sharing your experience with Rapid Finance
Verified Customer
whenever I have questions, they give me the answers immediately. Thank you Jasmin Lockhart
Reply from Rapid Finance
Apr 24, 2019
Thanks a lot for the positive feedback! Our client's satisfaction is our utmost priority and we appreciate your trust in Rapid Finance. Hope you have a wonderful day!
Verified Customer
Very. Satisfaction Very professional. Very. Attend.
Reply from Rapid Finance
Apr 24, 2019
Thank you so much for sharing your experience with Rapid Finance.
Verified Customer
Completely honest and very easy to work with. They don't bug you, or lie. They also have a nice portal where you can see your account daily.
Reply from Rapid Finance
Apr 24, 2019
Thank you so much for sharing your experience with Rapid Finance.
Verified Customer
They stay on top of your financial needs
Reply from Rapid Finance
Apr 24, 2019
Thank you so much for sharing your experience with Rapid Finance.
Verified Customer
Kisha D, first class great customer service
Reply from Rapid Finance
Apr 24, 2019
Thank you so much for your kind words. We really appreciate you taking the time out to share your experience with us.
Verified Customer
Rates wasn't the best and they didn't approve the loan I want and got from Ondeck
Reply from Rapid Finance
Apr 24, 2019
All feedback is important to us. We strive to provide excellent customer service and would love to speak to you further. Please reach out to our Client Service team at 240.514.1962.
Verified Customer
Very happy with the service and the quick delivery of funds, very likable people and also professional.
Reply from Rapid Finance
Apr 24, 2019
Thank you so much for your kind words, Louis. We really appreciate you taking the time out to share your experience with us.
Verified Customer
Professional, easy to work with, and very responsive to my needs.
Reply from Rapid Finance
Apr 24, 2019
Thank you so much for sharing your experience with Rapid Finance.
Verified Customer
Easy and fast process, email and online forms that made things very easy!
Reply from Rapid Finance
Apr 19, 2019
Hi Wes. Thank you so much for sharing your experience with Rapid Finance. -Beatrice
Verified Customer
Origin was great not as much on underwriting
Reply from Rapid Finance
Apr 19, 2019
Hi Susan. Thank you so much for sharing your experience with Rapid Finance. -Beatrice
Verified Customer
very helpful and supportive. they made sure our questions were always answered and responded to everything in a timely manner
Reply from Rapid Finance
Apr 19, 2019
Thank you so much for your kind words, Rana. We really appreciate you taking the time out to share your experience with us. -Beatrice
Verified Customer
Extremely nice and very easy to work with.
Reply from Rapid Finance
Apr 19, 2019
Hi Ramon. Thank you so much for sharing your experience with Rapid Finance. –Beatrice
Verified Customer
fast response, fast service, good rates, friendly
Reply from Rapid Finance
Apr 19, 2019
Thank you so much for sharing your experience with Rapid Finance. –Beatrice
Verified Customer
Excellent customer service/ Fast turnaround for funding.
Reply from Rapid Finance
Apr 19, 2019
Thank you so much for sharing your experience with Rapid Finance. –Beatrice
Verified Customer
Fast, friendly, courteous and professional
Reply from Rapid Finance
Apr 19, 2019
Thank you so much for sharing your experience with Rapid Finance. –Beatrice
Verified Customer
Because the process was so fast ant the representative was so friendly and eager to help. I thank God for one of my friends for recommending this company to me. I was very pleased
Reply from Rapid Finance
Apr 19, 2019
Thank you so much for your kind words, Michelle. We really appreciate you taking the time out to share your experience with us. -Beatrice
Verified Customer
Been using them for 4 years and their customer service and the way they operate is top notch
Reply from Rapid Finance
Apr 19, 2019
Thank you so much for your kind words, Michael. We really appreciate you taking the time out to share your experience with us. -Beatrice
Verified Customer
It was great working with loan officers, the amount of waiting and back and forth is a little silly.
Reply from Rapid Finance
Apr 19, 2019
Thank you so much for sharing your experience with Rapid Finance. –Beatrice
Verified Customer
Flexible funding options, easy application process
Reply from Rapid Finance
Apr 19, 2019
Thank you so much for sharing your experience with Rapid Finance. –Beatrice
Verified Customer
I have requested in writing a dozen times for a release of my UCC from a loan paid off 4 months ago at least and have yet to receive
Reply from Rapid Finance
Apr 19, 2019
I’m sorry to hear about your bad experience. We strive to provide excellent customer service and would love to speak to you further. Please reach out to our Client Service team at 866.224.1162. -Beatrice
Verified Customer
Excellent personalized customer service by well trained representatives
Reply from Rapid Finance
Apr 19, 2019
Thank you so much for your kind words, Jenny. We really appreciate you taking the time out to share your experience with us. -Beatrice
Verified Customer
Communication customer service guarantee
Reply from Rapid Finance
Apr 19, 2019
Thank you so much for sharing your experience with Rapid Finance. –Beatrice
Verified Customer
Dependable. Provides a necessary service with integrity.
Reply from Rapid Finance
Apr 19, 2019
Thank you so much for sharing your experience with Rapid Finance. –Beatrice
Verified Customer
The process was easy. They followed through with everything they said they would do and the money was available when they said it would be. The applications were short and I was approved for a certain amount of money and it was placed in my account a few days later.
Reply from Rapid Finance
Apr 19, 2019
Thanks for the awesome review, Johnny! We work hard to meet expectations like yours, and we’re happy to hear we hit the mark for you. Cheers!
Verified Customer
They're easy to deal with and talk to you and able to get you money as you need it. The representative was easy to deal with and she explained everything well to me and just did a fine job and doing everything that needed to be done. I called them up and told them what I needed and they verified what they could give and we set it up and went for it.
Reply from Rapid Finance
Apr 19, 2019
Thank you so much for your kind words, Roger. We really appreciate you taking the time out to share your experience with us
Verified Customer
They offered the best interest rates and quickest funding abilities. Every experience we've had so far with Rapid Finance has been wonderful. Everybody's been great communicating and making sure that we understand our contracts thoroughly. The process was quick and easy.
Reply from Rapid Finance
Apr 19, 2019
Thanks for the awesome review, Richard! We work hard to meet expectations like yours, and we’re happy to hear we hit the mark for you. Cheers!
Verified Customer
Rapid Finance jumped on the ball and took care of things so that's how we wound up with them. There was passion with what they were doing. They came beside you and that was the most important part for me, getting somebody to help me out when I needed it. They took charge and began to ask questions that were relevant to get the loan. It was two or three days of calling back and gathering information. Their work ethic was good. At the beginning I was very nervous about asking for the loan thinking that no one would help me out but then they had the confidence in what they did and were able to help me out. It was a great great help.
Reply from Rapid Finance
Apr 19, 2019
Thanks for the awesome review, Samuel! We work hard to meet expectations like yours, and we’re happy to hear we hit the mark for you. Cheers!
Verified Customer
The service was quick and convenient. They let you renew the contract. The customer service was very nice. I did it online and it was just real simple and hassle free.
Reply from Rapid Finance
Apr 19, 2019
Thank you so much for sharing your experience with Rapid Finance