Small Business Loans Depot


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An alternative lending company, Small Business Loans Depot does not require high credit scores. They dedicate themselves to different types of loans, placing them at an advantage when it comes to funding a variety of different industries. In fact, their list of industries includes dentistry, banking, construction, and the medical field. Their most popular loan is their Asset-Based Loan, providing companies with equipment, too.

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The Good

  • Poor credit options
  • Extra funding


To qualify for their Asset Based Loan, the website states that you must:

  • Be the sole owner of your assets
  • Be presently in business
  • Not have declared bankruptcy within the last two years
  • Not have more than $500 in unpaid charge offs within the last year

The website also mentions that the average transaction ranges from $20k to $50k, allowing more businesses to qualify. They do offer anywhere from $5k to $500k. Although certain business programs are available to those with bad credit, the higher your credit, they are more likely to give you the possibility for higher funding. Certain programs require a business to have been running for a minimum of nine months.

Poor Credit Options

Although most of the programs at this alternative lending firm do require a credit score of at least 650, they have an alternative option for those with a poor credit score, allowing those with a 500 and above to apply.

Extra Funding

If you only receive, for instance, $50K from a certain program, the company allows you to apply and see if you qualify for another program. This will allow you to possibly receive another $50K, averaging out the $100,000 that few companies are able to receive.

Possible factors include:

  • Business credit
  • Personal credit
  • Time in business
  • Property ownership
  • Overall sales

Essentially, what is important is that they offer a few key loan programs-a perfect fit for many different industries. However, the key is that the companies must not be looking to expand too much with these loans, as it is hard to obtain a large amount of capital. But if you are looking into shorter-term loans, Small Business Loans Depot might just offer what you're looking for.

The Bad

  • Unprofessional website
  • Financing terms

Unprofessional Website

Because their website posts are written very unprofessionally, one may assume that they are not as well established as other lending institutions. Capitalization issues are found numerously on the website, which might deter people during this process. While oftentimes it might be a marketing technique, your business is worth more than that. When it comes down to business loans, reliability is everything, and if it cannot be found in terms of grammar and such, you might want to keep looking. It might be an indication of the sort. The website also shows a lack of concern in terms of accessibility. Applications are difficult to manage.

Financing Terms

It would be a commitment, to some extent, when it comes to using Small Business Loans Depot as your alternative lending resource. This is because their term options are 12, 24, 36, 48, or 60 months, ranging between one to five years. However, since $500,000 is the absolute maximum acquisition, it might be a sufficient time period.

While the few loan options offered are versatile, they should have a larger variety of deals, in order to personalize different customers' needs.

Even though they might accept credit scores below 650, they will still have to check it in the first place in order for you to qualify. This might compromise your credit even further; it is up to you to decide if it is worth it.

Compare to the top rated business loan companies

The Bottom Line

Small Business Loans lacks a great deal of pertinent information, has limited capital and financing terms, and an unprofessional website. When compared to other companies in the industry, we just cannot find a reason to recommend their services. Try checking out some of our other companies to find the right fit for your business loan needs.

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