Rapid Finance Logo

Rapid Finance

check_circleVerified

star star star star star_half
349 User Reviews

8.8

Overall Score

LAST UPDATED: September 16th, 2021

Small business financing company Rapid Finance has grown to be one of the biggest names in alternative business financing since its founding in 2005. With personalized customer service, competitive rates, and flexible funding options, Rapid Finance has funded over $2 billion for companies in various industries. 

The company's variety of financing options puts it at the forefront of the industry. Rapid Finance also provides a business advisor who will work with customers one-on-one in order to service every unique business situation.

Applications are not solely based on credit score, giving more applicants funding opportunities, and financing amounts start at $5,000. 

Customers can get approved in minutes and can receive funding in as little as 24 hours. 

thumb_up

The Good

  • Variety of Loan Options
  • High Maximum Loan Amount
  • High-Quality Resources
  • Customer Support
  • Rapid Finance Reviews

Variety of Loan Options

Rapid Finance provides a variety of financing options for lots of differing borrower needs, including the following: 

  • Bridge loans
  • Lines of credit
  • Merchant cash advance
  • SBA loans
  • Invoice factoring
  • Asset based loans
  • Commercial real estate loans

Through its lending partners, Rapid Finance allows customers to participate in low-interest rate SBA-approved bridge and long-term loans. 

The company's small business loan is a great fit for small businesses that do not meet the criteria for an SBA loan.

The merchant cash advance (MCA) and line of credit 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.

Approved loan uses depend on the loan type, but includes practically any need you have as a business owner, including the following: 

  • Working capital 
  • Location expansion
  • Equipment leasing
  • Payroll 
  • Debt consolidation
  • Technology
  • Marketing

Be aware that Rapid Finance works with a partner network of various finance brokers for equipment leasing, credit card processing, asset based loans, and invoice factoring so pay close attention to the specific requirements, rates, terms, and conditions set forth by your direct lender, including the following:  

  • Application process
  • Positive credit behavior
  • Interest rate
  • Origination fee
  • Fixed fee 

High Maximum Loan Amount

With Rapid Finance and its partner network, businesses can receive financing ranging from $5,000 to $10,000,000 depending on gross sales and other factors.

search

Highlight: Rapid Finance offers a wide range of loan dollar amounts. 

Many lenders in the industry have much higher minimums and much smaller maximums. The wide range offered by Rapid Finance gives potential borrowers more options based on their specific cash flow needs, large or small. 

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. 

Additionally, you can check your eligibility with Rapid Finance's loan amount calculator to see how much you could qualify for if approved based on your credit score and gross monthly sales. 

Keep in mind that the results of the calculator are no guarantee; you’ll still need to be formally approved with an application. 

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. 

Visit Site

thumb_down

The Bad

  • Does Not Fund Startup Companies
  • Excluded Businesses

Does Not Fund Startup Companies

Rapid Finance does not provide funding for startups, so those looking for startup funding will need to look elsewhere. 

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. 

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
gavel

The Bottom Line

Overall, Rapid Finance has some great options available for the small business owner, including a merchant cash advance, asset based loan, line of credit, and other small business loans. 

In addition to offering multiple financing solutions, the company offers a simple application process, opportunities to borrow even with bad credit, quick approval and funding times, and respectable customer support.

If you are a consumer looking for a trusted online lender and your company has at least six months in business and $5,000 or more in monthly revenue, a Rapid Finance loan may be a great choice. 

You can find Rapid Finance reviews below to learn more about customers' experiences with a Rapid Finance business loan.  

Was this content helpful?
thumb_up Yes thumb_down No

We'll Introduce You!

Call our recommended rep over at Rapid Finance below.

1-(866) 564-3221

Star Rating

4.7

star star star star star_half

349 Reviews

Review Breakdown

5 grade

85%

4 grade

7%

3 grade

1%

2 grade

1%

1 grade

5%

Sentiment Criteria

Value

star star star star star_border

Quality

star star star star star_half

Service

star star star star star_half

Trustworthiness

star star star star star_half
cancel

Filter by:

arrow_drop_down

Sort by:

arrow_drop_down
info
check_circle

Verified Customer

check_circle

Review Source

star star star star star

Michael DeLuca

I have worked with Olivia D. on multiple occasions. She is always prompt and attentive to us when we call on them for funding. The rates are decent, process simple and clean, and payment terms manageable. Thanks again Olivia and her team to help fund some ongoing projects for our company!!

3 years ago

star star_border star_border star_border star_border

S Burdette Port Orange, FL

I did a short app via the Rapid website and was asked to call in to speak with a rep to finish up my App. Well upon calling in a male rep which I did not catch his name because he was speaking with a slurred speech asked me to hold a moment as he pulls up my info, I said sure. Well, upon coming back to the phone he asked me how long I have been in business, and I told him I have been in business and registered with the IRS since 2009. His next question was "Do U have a Personal Business checking acct? And my reply to him was that I have been using my personal military checking acct as my business account. Well as soon as I shared this info with him regarding my checking account he quickly stated and I quote "Sorry Rapid Can Not Help You" because you do not have a business account set up so enjoy your day" Yes that was it and I kid u not he disconnected as if I and my business was a nobody and did not matter only because I stated I do not have a personal business account, however, I do have my personal military account that I use for my business. I WILL NOT EVEN RECOMMEND SATAN TO THIS COMPANY.

3 months ago

star star_border star_border star_border star_border

Cory Taylor Memphis, TN

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.

1 year ago

Rapid Finance Logo

Reply from Rapid Finance

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.

Mar. 16th, 2020

check_circle

Verified Customer

check_circle

Review Source

star star_border star_border star_border star_border

Joel Hulen Chesapeake, VA

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.

2 years ago

Rapid Finance Logo

Reply from Rapid Finance

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.

Jun. 28th, 2019

star star_border star_border star_border star_border

Shameka T. Mobile, AL

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

1 year ago

Rapid Finance Logo

Reply from Rapid Finance

Rapid Finance reached out to the customer and the Parties have come to an amicable resolution.

Nov. 15th, 2019

check_circle

Verified Customer

check_circle

Review Source

star star_border star_border star_border star_border

Jessica

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

2 years ago

Rapid Finance Logo

Reply from Rapid Finance

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

Apr. 19th, 2019

star star_border star_border star_border star_border

Morgan Chicago, IL

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.

1 year ago

Rapid Finance Logo

Reply from Rapid Finance

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.

Mar. 20th, 2020

star star_border star_border star_border star_border

Carla Burbank, CA

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

1 year ago

Rapid Finance Logo

Reply from Rapid Finance

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.

Mar. 17th, 2020

star star_border star_border star_border star_border

Donald Cochrane Tacoma, WA

i didn't like anything about the experience with them they told me I was approved then later send me a message I am declined , gave my credit a hit for nothing , I had 747 with no negative marks or late pays and they declined me because of companies like theirs hitting my credit and not coming through

3 years ago

star star_border star_border star_border star_border

Jane North Attleboro, MA

After they promised to offer me a loan, they asked me to send my personal Informations; drivers license, a voided check of my company, my company EIN number, basically everything someone can use for an identity theft. Literally in less than 45 minutes after they received all requested personal documents via email, they emailed me a denied letter.

3 years ago

check_circle

Verified Customer

check_circle

Review Source

star star_border star_border star_border star_border

Doesnt matter Duluth, MN

27% split has put me out of business. Never told the loan term was a couple months and I am a repeat customer

2 years ago

check_circle

Verified Customer

check_circle

Review Source

star star_border star_border star_border star_border

Richard ford Spring Lake, NC

Never missed a.payment and.when.i.asked.for. more.money they said they cant because we had hurricane

2 years ago

check_circle

Verified Customer

check_circle

Review Source

star star_border star_border star_border star_border

Whatever Bloomington, IL

sloppy with paperwork, tried to get additional funds and their back end was all screwed up

2 years ago

check_circle

Verified Customer

check_circle

Review Source

star star_border star_border star_border star_border

Veronica Hanley Tucson, AZ

Misleading rates. Not interest rate but actually a few so you can't pay it off.

2 years ago

check_circle

Verified Customer

check_circle

Review Source

star star_border star_border star_border star_border

Courage Dallas, TX

Lied during and after Application process

2 years ago

star star_border star_border star_border star_border

Steven Forest City, IA

as advertised it said 500 credit score minimum for help, they want 680+

3 years ago

star star_border star_border star_border star_border

Marlene Vincentown, NJ

just kept sending me in circles to different websites

3 years ago

We're on a mission to empower consumers to make the best decisions and connect confidently with companies that deserve their business.

© 2021 BestCompany.com LLC - All rights reserved Privacy Policy | Terms | Do Not Sell My Personal Information