Opened in 2020 from the turmoil caused by the COVID-19 pandemic, ROK Financial was founded by its current CEO James Webster. Webster is a former business partner of the well-established business financing and services provider National Business Capital & Services. Like many businesses, National was forced to pause its operations due to the pandemic. ROK Financial was born of the desire to continue helping businesses succeed and bring employees back to work. 

ROK Financial is a very new company. However, Webster has almost two decades of experience in the financial services industry. During his time at National Business Capital & Services his team helped secure over $1 billion in financing for small businesses. This dedication to building businesses from their foundation, and maintaining business partnerships is central to ROK Financial’s business financing platform. 

For being so new to the industry, ROK Financial has a robust variety of funding types. Its current small business and commercial lending options include:

  • Small business loans
  • Business line of credit
  • Equipment financing
  • SBA loans
  • AR financing
  • Merchant cash advance
  • Asset based loans
  • Franchise financing
  • Startup financing

While it does have a solid lineup of lending options it can offer businesses, some of its competitors offer business credit cards, financing for cannabis businesses, and other business services. 

Note Related to COVID-19 Pandemic: In light of the financial uncertainty related to the COVID-19 pandemic, some business loan providers are only offering limited funding options. For example, some of the top loan providers were only accepting Paycheck Protection Program (PPP) loan applications instead of, or in addition to, their normal products until mid-August 2020. We also observed that at least one top loan provider has suspended its lending activity entirely. ROK Financial was actually born out of the turmoil of the pandemic and is actively lending which helps it stand out from its competitors.

The Good

  • 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 its 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 a day. 

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 your 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 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 three months in business. 

It will also work with startup companies. If you have been in business for less than six months, you are considered a startup. Most financing options require a minimum of six months in business and at least $15,000 gross revenue per month, but startups can be exempt of 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 on business loan financing. ROK Financials 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. 

The Bad

  • 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 is essentially a brand new company. This could mean that it may have fewer lending partners and a smaller marketplace of lenders. 

It also means that its online presence, including reviews, is very sparse. You will find only a few online reviews of ROK Financial. However, National Business Capital & Services has an excellent online reputation and many of ROK’s employees worked there previously.

The Bottom Line

ROK Financial started its company in 2020, during the Coronavirus pandemic. Its leadership saw the need for small business financing in the country and decided to break off from a larger business loan servicing firm in order to continue providing loans to businesses during a difficult financial time. This dedication to providing financing to businesses is admirable. Because it is a new company, we recommend that you proceed with caution. 

You will find that ROK Financial is willing to work with a larger group of businesses including startups and those with poor credit. It also has higher loan maximums which could be helpful if you’re looking for more financing. 

View Best Business Loan Companies

ROK Financial Frequently Asked Questions

What types of business loans does ROK Financial offer?

ROK Financial offers a wide variety of business loan options including term loans, lines of credit, equipment financing, SBA loans, and much more.

Is there a minimum requirement to apply for business financing with ROK Financial?

While many factors come into play when approving a business, ROK Financial requires a minimum of $120,000 in annual gross along with at least six months in business.

Is ROK Financial a direct lender?

No, ROK Financial is not a direct lender. We have boutique-style relationships with a group of hand-selected lenders who provide top-notch funding and programs tailored to individual business needs.

How quickly will I receive my funds after approval?

ROK Financial will work swiftly to expedite the funding process. Once all the documentation is completed, you can see funds in your account in as little as 24 hours.

What type of documentation is required?

Typical documentation needed to submit your application includes business bank statements and a signed application.

User Reviews

Star Rating

4.4
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15 Reviews

Review Breakdown

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1 star
7%

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Jon West

October 29th, 2020 Des Moines, IA

I have worked with Tony C and Steve M for several years. Besides being great guys to work with I have found out that first and main concern is that of helping the small business owner attain funding. Many companies just worry about the commission first and the the applicant later. Tony and Steve empathize with each individual and go the extra mile with each one of them. I would highly recommend them and ROKFI.

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Reply from ROK Financial

Nov 23, 2020

Thank you, Jon, for taking the time to leave this 5-star review about your experience with ROK Financial and your Business Financial Advisor, Stephen and Tony, our Director of Partnerships. I can't wait to share this with them! Getting Businesses back to business is our number one priority, and we look forward to working together to do just that with you as we continue to grow our Partnership! Thanks again! Madi

Verified Customer

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Brittany

November 19th, 2020 DETAILS arrow_drop_down
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The paper work was simple. They are quick to respond. No one was rude or pushy. Funding is generally the same day. It was great. There are no drawbacks.

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Reply from ROK Financial

Nov 23, 2020

Brittany, thank you for taking the time to leave this 5-star review. We take pride in being a resource for Business Owners, and we're happy to hear we were just that for you! We look forward to watching you take your business to new heights!

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Luqman Stroud

December 16th, 2020 DETAILS arrow_drop_down
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Professionalism and customer service were able to make the process simple and easy

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Reply from ROK Financial

Dec 18, 2020

Luqman, thank you for taking the time to leave this 5-star review. At ROK Financial, we take pride in our streamlined and easy Business Financing Process and our customer service! We look forward to watching you take your business to new heights!

Verified Customer

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Larsons seasonal

December 9th, 2020 DETAILS arrow_drop_down
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No hoops to jump through Greg took care or as much of the small stuff so I could focus on my business

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Reply from ROK Financial

Dec 14, 2020

Larsons Seasonal! Wow – thanks for your kind remarks! We are so happy that working with our Finance Manager, Greg, helped you get your focus back on your business! We thrive on this type of feedback, so I’ll be sure to pass this review off to the team.

Verified Customer

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Linda Luke, Village Gardeners Inc.

December 9th, 2020 DETAILS arrow_drop_down
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Exceptional Professional Service, Painless Process, and Fast Results!

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Reply from ROK Financial

Dec 14, 2020

Linda, thank you so much for taking the time to leave this 5-star review! We take pride in our painless process, professionalism, and fast results when getting businesses back to business! We look forward to all you and your team are going to accomplish!

Verified Customer

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Linda Hair

December 9th, 2020 DETAILS arrow_drop_down
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knowledge in the industry, work with clients and is helpful.

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Reply from ROK Financial

Dec 14, 2020

Linda, thank you for taking the time to leave this review!

Verified Customer

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Dr. Rose Lorenzo

December 2nd, 2020 DETAILS arrow_drop_down
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Very efficient and easy to work with, they clearly understand the needs of small businesses.

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Reply from ROK Financial

Dec 14, 2020

Dr. Lorenzo, thank you for taking the time to leave this 5-star review about your experience with our team at ROK Financial. We take pride in our streamlined and easy process while taking the time to understand what is best for our business owners! We look forward to watching you take your business to new heights!

Verified Customer

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Wayne

December 2nd, 2020 DETAILS arrow_drop_down
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It wasn't until after we set up the line of credit that I finally learned that the interest rate is 52%!

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Reply from ROK Financial

Jan 12, 2021

Hey Wayne, On behalf of the team, we'd like to take this moment to say thank you for taking the time to write this review. We would also like to extend our apologies for the miscommunication that occurred when discussing your LOC. As you know, our mission is to provide the best Business Financing experience to our customers, and we are sincerely sorry for falling short of doing just that with you. We can assure you this is something we have not taken lightly and have made sure to do additional training with our team to ensure something like this doesn't happen again. We would also like to take this time to extend our gratitude for the time you took to speak to our Finance Manager, Greg, and we look forward to you joining our Partner Program and giving you updated financing options as market conditions improve! Madi

Verified Customer

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Robert Martin

December 2nd, 2020 DETAILS arrow_drop_down
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Fair but tough payment schedule based upon weekly payments

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Reply from ROK Financial

Dec 14, 2020

Thank you for taking the time to leave this review, Robert! I spoke with our finance manager. He said if you'd like to give us a ring, we can see what we can do about those weekly payments.

Verified Customer

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Mark M McDonough

December 2nd, 2020 DETAILS arrow_drop_down
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Poor communication, ran too many credir pulls

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Austin Feely

December 2nd, 2020 DETAILS arrow_drop_down
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They are extremely quick and efficient. They are always able to secure the best rates and terms for my clients.

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Reply from ROK Financial

Dec 14, 2020

Austin, thank you for choosing to partner with our team at ROK Financial as we work together to help businesses get back to business with simpler business financing! We look forward to our continued partnership!

Verified Customer

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Rick Segalen

December 2nd, 2020 DETAILS arrow_drop_down
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ROK Financial has the quality resources to help a borrower get much needed financing.

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Reply from ROK Financial

Dec 14, 2020

Thank you, Rick, for taking the time out of your day to leave this 5-star review and for mentioning our quality resources to help business owners like yourself obtain the financing that's needed to get back to business! We look forward to watching you take your business to new heights!

Verified Customer

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Bill

November 19th, 2020 DETAILS arrow_drop_down
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Customer support is very knowledgeable and extremely quick to follow up with phone calls and emails.

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Reply from ROK Financial

Nov 23, 2020

Thank you, Bill! We believe that communication is a major key in helping Business Owners gain access to Business Financing, and we're happy to hear you enjoyed our quick follow ups and emails. Cheers to taking your business to new heights!

Verified Customer

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Tyler

November 19th, 2020 DETAILS arrow_drop_down
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They’re good people. I wish they would start doing hard money but other than that they are really good.

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Reply from ROK Financial

Nov 23, 2020

Tyler, thank you for leaving this 5-star review and for the feedback!

Verified Customer

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Amanuel

November 19th, 2020 DETAILS arrow_drop_down
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So far everything is okay. I have no complains. They are consistent. The service they are providing is great.

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Reply from ROK Financial

Nov 23, 2020

Amanuel, we're glad to hear that things are going well, and we are ecstatic to have you as part of our ROK Family.

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