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ROK Financial

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9.9

Overall Score

LAST UPDATED: February 2nd, 2024

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. 

Best Company interviewed ROK Financial's CRO, Patrick Manning, to learn more about the business. 

ROK Financial Interview with Best Company

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 the following:

  • Small business loans
  • Business lines of credit
  • Equipment financing
  • SBA loans
  • AR financing
  • Merchant cash advances
  • Asset based loans
  • Franchise financing
  • Startup financing
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Highlight: ROK Financial is currently offering its full suite of loan products. 

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 and beyond. 

 

By contrast, ROK Financial was actually born out of the turmoil of the pandemic and is actively lending, which helps it stand out from competitors.

 
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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 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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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 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. 

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The Bottom Line

ROK Financial started its company in 2020 during the coronavirus pandemic. The company's 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. 

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 a business owner looking for more financing.

All that said, it's ROK Financial reviews from real customers that matter most in determining the company's trustworthiness. 

The verdict? ROK reviews consistently praise the company for efficiency, professionalism, and responsiveness. Read more below. 

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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. The company has 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.
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Star Rating

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5.0

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336 Reviews

Review Breakdown

5 grade

96%

4 grade

3%

3 grade

0%

2 grade

0%

1 grade

1%

Sentiment Criteria

Value

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Quality

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Service

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Trustworthiness

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Review Source

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Mckayla Nelson Fort Collins, CO

I received funding fairly quickly, but not the amount or terms I was looking for. ROK was very helpful, and hopefully once I remit the capital I was approved for, I will get the amount and terms I’m looking for next time!

3 months ago

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Reply from ROK Financial

Thank you for this 5-star review, Mckayla! We are so glad you chose to work with ROK Financial and while we couldn't get you the exact amount you were looking for, we are so grateful for the opportunity to help you and your business and we look forward to getting you more funding in the future!

Oct. 31st, 2023

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Review Source

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Karen Ciocchi Columbus, OH

My first deal with ROK. I was new to ROK and needed some help with my first deal. The team was really supportive and helped me all the way through. Andrew F helped me sign up, get logged in to the agent portal, and get a link to the online application that I could forward to my prospect. Josh D as my sales manager who closed the sale. Signup to funding was 11/18 to 12/8, a little longer than normal for an LOC but the Thanksgiving holiday was the chief cause. Since there is a 4-hour time zone difference, I mostly worked with Andrew and Josh via text, and they were very responsive, even over the holiday weekend. They made it super easy for me to get my first sale, for which I am very grateful. -KC, Anchorage Alaska

2 years ago

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Reply from ROK Financial

Karen, thank you for taking the time to leave this 5-star review about your experience working with Andrew, Josh, and our team here at ROK Financial. Our team tries our best to be as supportive and helpful throughout the funding process as we can be and we're so happy to hear we are hitting that mark with you. We're so happy to hear our team was responsive even over the holday weekend. We look forward to watching your business grow!

Dec. 16th, 2021

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Marlon Brown Alpharetta, GA

I reached out to Rok financial after doing some research into their company. The process was very simple and easy and I got financing within a few days. They are doing a great service by helping out small businesses. Oliver T was the agent I worked with and he made it very easy for me. I really appreciate him, he even answered my calls and texts on the weekend. I look forward to building a relationship Oliver and Rok financial.

2 years ago

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Reply from ROK Financial

Marlon, thank you for taking the time to leave this 5-star review about Oliver and our team here at ROK. Our team will always go the extra mile for our clients, even if its answering questions on the weekends! We look forward to building a relationship together!

Dec. 1st, 2021

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Charles Major Jacksonville, FL

My experience with ROK was one of the best I've had and I appreciate all help I received from Josh and everyone I would like to say thank you everyone Cencerly Charles Major

2 years ago

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Reply from ROK Financial

Charles, Thank you for taking the time to leave this awesome review with ROK Financial. We're so glad you had a great experience with us and thrilled we were able to help ease any financial burdens in these times!Thank you so much for showing your appreciation to the ROK team!

May. 21st, 2021

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Verified Customer

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Review Source

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Linda Hair

knowledge in the industry, work with clients and is helpful.

3 years ago

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Reply from ROK Financial

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

Dec. 14th, 2020

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Al Robinson Maywood, IL

Working with Tim S and his team at ROK makes my job so much easier with my clients. Thanks for being a good partner and taking care of my clients!

1 year ago

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Reply from ROK Financial

Al, thank you for taking the time to leave this awesome review about your experience working with Tim and our team here at ROK Financial. We're so glad Tim has made the process simple for your clients to access financing! We appreciate the kind words and look forward to building a strategic partnership together!

Aug. 15th, 2022

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donald davis Houston, TX

Great communication. Travis was very enthusiastic about helping me out

7 months ago

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Reply from ROK Financial

Donald, thank you for taking the time to leave this review about your experience working with Travis on our team here at ROK Financial. We're happy to help our clients in any way we can here at ROK and are so glad Travis was able to communicate that! We truly appreciate the kind words and hope to work together again soon.

Jul. 12th, 2023

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Review Source

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Jim Ahmad Cordova, TN

Customer Review Video

1 year ago Edited June 1, 2022

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Reply from ROK Financial

Jim, thank you for taking the time to leave this 5-star review about your experience working with our team here at ROK Financial. We appreciate the kind words and look forward to working together again soon.

Apr. 20th, 2022

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Tena Wiley-Dale Greenwood, MS

They help you every aspect of the process

1 year ago

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Reply from ROK Financial

Thank you for the 5-star review Tena! We're so happy you chose to work with ROK Financial for your business needs!

Feb. 24th, 2022

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Abby Smith Dothan, AL

Everything was fast and easy but the customer service is terrible

1 year ago

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Reply from ROK Financial

Abby, thank you for taking the time to leave a review about your experience working with ROK Financial. We pride ourselves on our customer service and well established reputation. We're very sorry to hear you felt our customer service did not meet expectations. We'd be happy to connect you with one of our Finance Managers to discuss your situation further. Unfortunately, we cannot find your name in the system to contact you directly, so please feel free to give us a call at: (833) 3-ROKBIZ and ask for a Manager. We appreciate your business and hope we can connect regarding your experience.

Jul. 14th, 2022

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