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Rapid Finance

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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. 

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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.

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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. 

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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
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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.  

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Call our recommended rep over at Rapid Finance below.

1-(866) 564-3221

Star Rating

4.7

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349 Reviews

Review Breakdown

5 grade

85%

4 grade

7%

3 grade

1%

2 grade

1%

1 grade

5%

Sentiment Criteria

Value

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Quality

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Service

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Trustworthiness

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Verified Customer

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4

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.

2 years ago

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Reply from Rapid Finance

Thank you so much for your kind words, Roger. We really appreciate you taking the time out to share your experience with us

Apr. 19th, 2019

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Jani King Ruidoso Downs, NM

Jasmine did all the footwork and helped us out. The customer service is professional and easy. It was very very quick and it was a good experience. They are always calling to see if we're okay with our loan and if we need anything. The follow up is really great.

2 years ago

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Reply from Rapid Finance

Thank you so much for your kind words, Jerelyn. We really appreciate you taking the time out to share your experience with us—and we agree, Jasmine is truly a gem to have on our team! We count ourselves lucky for customers like you. We look forward to working with you again in the future! -Beatrice

Apr. 19th, 2019

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Iride Used Bicycles Restoration & Repairs St. Petersburg, FL

I chose them because I like the way that the money comes off of a card processing fees to pay them back. It was a little slow getting things off the ground but once they finally got things worked out it worked out just fine. They've always been very able to solve every problem. Nick R is extremely professional and very very helpful.

3 years ago

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Anonymous Cincinnati, OH

I don't recall why I chose them I look at BBB better business bureau rating and it was very good in yes I'm glad I did. They are fast and efficient. I only deal with 1 person and that is Brandon he does an excellent job.

3 years ago

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Amoy Belvett Brooklyn, NY

Getting my loan was very fast. It didn't take much time before I could get it. Someone was always there to answer my questions if I had any. The only thing is that the interest rate they give you is too high, it's at 28%.

3 years ago

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Ebun Williams Lanham, MD

I was very impressed with the turnaround time in meeting my loan request. It was less than 48 hours. Keisha was amazing. She was in close contact with me throughout the whole process. She was very professional, but fun to work with . She has a bubbly, but caring personality. As a business owner Keisha is someone I will like to have on my team. Thank you for going over and beyond to meet my request. Ebun

10 months ago

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Reply from Rapid Finance

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.

Nov. 16th, 2020

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Don Rosenerg Milwaukee, WI

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..

1 year ago

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Reply from Rapid Finance

Thanks for sharing your experience with us! We appreciate the positive feedback and are glad we could be a part of your business' growth😊

Nov. 16th, 2020

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Anonymous Albuquerque, NM

So far I haven't had any problems with this company. Their customer support is easy to deal with, and they've been the right option at this time for me.

3 years ago

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4

So far everything is going well. They've been very attentive and call and periodically check on you and so far it's been a very good experience.

2 years ago

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Reply from Rapid Finance

Thank you so much for sharing your experience with Rapid Finance. –Beatrice

Apr. 19th, 2019

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Melissa

It was great working with loan officers, the amount of waiting and back and forth is a little silly.

2 years ago

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Reply from Rapid Finance

Thank you so much for sharing your experience with Rapid Finance. –Beatrice

Apr. 19th, 2019

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? Los Angeles, CA

Still expensive after being a so long time customer with them, I am not seeing a decrease in the cost...

2 years ago

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Mauricio Donoso Hauppauge, NY

At the time, they were the best option for me and my business. Customer service is very professional and quick.

3 years ago

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4

Easy process and I trust Rapid Finance. This loan has worked several times in the past for me.

2 years ago

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Reply from Rapid Finance

Thank you so much for your kind words. We really appreciate you taking the time out to share your experience with us. -Beatrice

Apr. 19th, 2019

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Mindy Sarasota, FL

Would like length of loan to be longer sometimes the payments on daily basis are hard to make

2 years ago

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4

We've been using them for a long time, for ten years. It is reliable.

2 years ago

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Reply from Rapid Finance

Thank you so much for sharing your experience with Rapid Finance

Apr. 19th, 2019

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David Verduzco Valparaiso, IN

Brain at Rapid was amazing and very professional. Great company to do business with. Dave

9 months ago

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Reply from Rapid Finance

Hi David, thank you for your review! Our client's feedback means so much to us.

Dec. 21st, 2020

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Dale Garrison Cullman, AL

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!

1 year ago

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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.

Nov. 16th, 2020

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Michelle Walters Powhatan, VA

Shawn was a delight to work with. Very responsive to all matters.

7 months ago

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Reply from Rapid Finance

Thank you for the positive review! Client satisfaction is our top priority!

Mar. 22nd, 2021

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Pam Ballston Lake, NY

Very helpful in helping with loans and explaining terms

2 years ago

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Reply from Rapid Finance

Thank you so much for sharing your experience with Rapid Finance.

Jul. 12th, 2019

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Winton Herrin

fairly quick and easy to do business with

2 years ago

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Reply from Rapid Finance

Hi Winton. Thank you so much for sharing your experience with Rapid Finance.

May. 20th, 2019

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Bill Feland

Dependable. Provides a necessary service with integrity.

2 years ago

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Reply from Rapid Finance

Thank you so much for sharing your experience with Rapid Finance. –Beatrice

Apr. 19th, 2019

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Susan

Origin was great not as much on underwriting

2 years ago

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Reply from Rapid Finance

Hi Susan. Thank you so much for sharing your experience with Rapid Finance. -Beatrice

Apr. 19th, 2019

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Dawn Sheridan, WY

They easy to get a hold of and to work with

2 years ago

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My Sisters Closet & Boutique McKenzie, TN

Knowledgeable and easy to work with. Quick service

2 years ago

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Janine Aquino

Quick and easy way to get needed money for your business.

3 years ago

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Fernando Gonzalez Hollywood, FL

Great response made it easy to understand the decisions made.

10 months ago

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Reply from Rapid Finance

Hello, Thanks a lot for the positive feedback! Our client's satisfaction is our utmost priority and we appreciate your trust in Rapid Finance.

Nov. 30th, 2020

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Hi

Everything was great. The people are nice and helpful

1 year ago

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Reply from Rapid Finance

Thanks a lot for the positive feedback!

Oct. 20th, 2020

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