ROK Financial

• Same-Day Funding
• No Minimum FICO
• Lower Required Months in Business
• Fast Application Process
• Higher Loan Minimums and Maximums

Same-Day Funding

ROK Financial can potentially provide its customers with same-day funding if a loan application is completed and all necessary documentation is submitted quickly.

Due to the company's use of fintech, business owners can be out of underwriting in hours and receive funds on the same day. This is less common within the business loans industry — more typical is a promise of funding within 24 hours. 

No Minimum FICO

Many business loan companies like ROK Financial have minimum FICO score requirements typically in the low 600s. ROK Financial does not have a minimum FICO score on its loan offerings. Most of its top financing options have no minimum, and it encourages businesses with bad credit to apply.

Unlike traditional banks, there are alternative lenders on the market that have programs for all types of credit profiles. ROK Financial advises business owners not to be discouraged by their credit score. Businesses can still qualify for specific products and programs though alternative sources. 

Lower Required Months in Business

ROK Financial will work with businesses that have been in business for a shorter amount of time. This is unique among its competitors, many of which may require a business be open for at least 12 months prior to applying for financing. Many businesses can qualify for ROK Financial’s top financing options with as little as 3 months in business. 

ROK Financial will also work with startup companies. If you have been in business for less than 6 months, you are considered a startup. Most financing options require a minimum of 6 months in business and at least $15,000 gross revenue per month, but startups can be exempt from these requirements. You will be required to have a credit score of at least 650. 

Fast Application Process

The application process can vary widely across companies working with business loan financing. ROK Financial's initial loan process application is very brief. It asks for your contact information, time in business, credit score, annual gross sales, and industry.

After you submit the application, a ROK Financial business financing advisor will contact you to discuss what loan options you may have and which to pursue. 

Higher Loan Minimums and Maximums

Each business loan provider will have a different minimum and maximum loan amount. ROK Financial’s loan minimums and maximums are higher than is typical. This could be beneficial for your business if you are looking for larger amounts of funding.

Most of the funding options offered by ROK Financial have a loan minimum of $10,000 and a loan maximum of $5 million. 

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• No Information on Business Terms and Interest Rates
• New Company

No Information on Business Terms and Interest Rates

The ROK Financial website does not provide any information on the business terms or interest rates of the loans it typically secures for its customers. This could be very frustrating for you if you are shopping around and trying to compare the offerings from other loan companies. 

New Company

While its employees and leadership have years of industry experience, ROK Financial has only been in business for a couple years. This could mean that it may have fewer lending partners and a smaller marketplace of lenders. 

Additionally, while the company does have a solid lineup of lending options, some of its competitors offer business credit cards, financing for cannabis businesses, and other business services not currently in ROK Financial's suite of services.