Rapid Finance
check_circle VerifiedRapid 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
- 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.
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
- 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.
Why Can I Trust Bestcompany.com arrow_drop_down
User Reviews
Star Rating
212 Reviews
Review Breakdown
Sentiment Criteria
bookmark Featured Review
Verified Customer
5
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!
bookmark Featured Review
Verified Customer
5
I went with Rapid Service because they were the easiest to work with. They were fast and they did what they said they were going to do. They were lovely to work with. It was very easy to apply. The terms were some of the best we found and they made it very easy to help us through each step of the way answering any questions we had.
Reply from Rapid Finance
Apr 19, 2019
Thank you so much for sharing your experience with Rapid Finance.
Morgan
Misleading information. Y’all reached out to me about a possible secondary loan because of my outstanding performance paying on a previous loan. Everything was supposed to be approved then the following day I was informed that it was denied like it’s some kind of game and to wait a few weeks then check back. I’ll take my business elsewhere.
Reply from Rapid Finance
Mar 20, 2020
We are sorry to hear that you had a poor experience and we would like to speak with you about it. Please reach out to us at 240-514-2000.
Cory Taylor
Overall funding process was easy and efficient . The reason for the bad review is due to the lack of regard towards my private information being provided via email to a lady I barely knew who claimed her address was used on my application. Vanessa W of Bethesda MD (I found out by the lady calling me, threatening to sue) sent over my information and spoke with this lady for hours about my account. After confrontation lasting multiple conversations and multiple people including Samantha N she emailed me and CC’ing the lady my home address with an explanation of them using an address from my credit as being the reason for sending mail erroneously. She never apologized. I recorded the entire conversation. I believe in absolute professionalisms. She definitely dropped the ball for this company. Do business with caution please.
Reply from Rapid Finance
Mar 16, 2020
While we are glad that your funding experiment was great, we are sorry that you encountered an issue. Please feel free to reach out to our Customer Service Team at 240-514-2000 to discuss your concerns. Thank you.
Hi
Everything was great. The people are nice and helpful
peter pappas
Thank you so much for everything. The easiest process ever.
Carla
I had the worst experience with this company , it is a scam , Mary S told us so many lies to borrow the money , they promised that if paid earlier we would have a discount ,when I requested the discount she said that was not in my contract, they are a scammers , I felt like I was rapped after using them
Reply from Rapid Finance
Mar 17, 2020
We are sorry to hear that you didn’t have a positive experience and would like to speak with you about that experience. Please feel free to reach out to us at 240-514-2000.
Daymis
They were very fast with process and very professional
Heather
Everyone was wonderful and very helpful and I will be recommending rapid finance!
Donnie Eskridge
Very fast and pain free experience, there were no dislikes and I would definitely refer this business to others
Norm Risoya
Alexandra S was fantastic to work with! She was extremely professional, worked through my options, and helped me arrive at the best arrangement for my situation. Once approved for my financing, I received an e-mail that the funds would be deposited in my business account within three hours. They were actually there when I checked an hour later. Thank you to everyone for the great service!
Beth Vance
Such a quick process. Everyone was on top of things and extremely helpful. Had our funding in 2 days!! Thank you.
Diana Green
Rapid Finance was very professional from the man who called me to Yonikka T and then Olivia D. Yonikka was absolutely the best in walking me though the steps. Her patience with me was great. I am appreciative of your help.. Diana Green
Scott P
They said yes when everyone said no....got me a business loan and the payment wasnt bad at all at.... Very quick responses. Quick and easy....!!!
Paul E Conway
Yonikka is extremely professional, intelligent, courteous, and highly attentive. I felt my needs were immediately understood and met within a matter of days. We are so thrilled and relieved to have received Yonikka's help.
I burr
Always nice and understanding. Very fast and upfront
Juan Ortiz
WORKED WITH MARY SHE IS GREAT! WILL DEFINITELY BE BACK
JC Runquist
I called Rapid Finance and spoke with Alex Z. Alex is a pro! He was very informative, professional, knowledgeable and detailed in his explanation of various programs offered. He is a good listener and was able to customize a funding program that was best suited for our company needs at this current time. Thank you Alex! Good to be a funded client with Rapid Finance!
Craig D Gifford
Very professional and very helpful along the way ....I will recommend to other business associates. Also very friendly!
Dale Garrison
Ok with everything except the $5000.00 debit to my account. This is wrong. I was not told that I would have to pay this Fee. I think this is shady!
Nicholas Wright
Good people to work with. Prompt , fair and fast. Obviously rates are a little high, but expected foot the product.
Tommy Morton
Great customer service with thorough communication.
Verified Customer
Don Rosenerg
Your rapid processing and responses make it easy to work with you when we need to make that decision. Also, our representative follows up and I appreciate that..
Shameka T.
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
Debi Spellman
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
JOSEPH N SOLARE
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
Kim
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
Ahmeduz Zaman
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
DAVID BURNELL
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
Heewoong
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
Daniel
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
David
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
Valentin
They were easy to work with and they really helped me through the whole process.
Verified Customer
Kady
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
David
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!
ROBERT CRISP
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
Tacora Steel
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
KEVIN
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
Pam
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
Joel Hulen
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
John
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
Winton Herrin
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
Dale
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
Alice Stewart
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
Debb Riston
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
Lisa simmons
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
Blanca
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
Richard
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
Charles Simms
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
Giovanni
Very. Satisfaction Very professional. Very. Attend.
Reply from Rapid Finance
Apr 24, 2019
Thank you so much for sharing your experience with Rapid Finance.