StreetShares Incorporated was founded in 2014 as a small business funding marketplace. Motivated by a knowledge of the difficulties small businesses face today in obtaining funding from big banks and a firm belief in the power of entrepreneurship, the co-founders of StreetShares set out to create an auction-like system that allows investors and borrowers to connect. Today StreetShares offers loans to all types of businesses seeking investment, with a special attention given to veterans seeking funding for their small businesses.

Rank Chart
Interest Rates
Revenue Requirement
Review

#1

1.5-12%
$50k/year

#2

15-35%
$54k/year

#3

5.99-36%
$100k/year

#48
street_shares

Undisclosed
$100k/year

There is not enough information for us to recommend working with Street Shares. Browse the lenders below to find the best loan for you:

The Good

StreetShares is an alternative to the typical and limiting process of borrowing loans from big banks, and gives businesses access to quick money with limited requirements. As proclaimed on their website, StreetShares is “Shark Tank meets eBay”—meaning that the concept of each business borrowing is as much an important component of the StreetShares borrowing experience as the connection between investors and businesses. Benefits of the Street Shares platform include:

Transparency

One of the best things about StreetShares is transparency. When compared to banking institutions that offer business loans, StreetShares is revolutionary in its transparency, and borrowers can benefit from finding out specific details about their loans from the get-go. The FAQ section on the website offers answers to most questions that prospective buyers would have, and the answers they offer are quick and to the point.

Varying Loans Offered

The only answers StreetShares cannot offer on the website are not available due to the varying nature of loans that StreetShares offers. Instead of providing standardized interest rates, StreetShares loans vary because they are offered by investors who set their own interest rates. Borrowers can rest assured, however, that StreetShares always chooses the investor who offers the lowest interest rate before pairing a business with an investor.

Veteran Focus

StreetShares has a very clear focus on helping veteran-owned small businesses. The entire project of StreetShares was started with an intention to help veterans looking to start their own businesses. With a unique focus and understanding of the challenges that veterans face in business endeavors post their service, StreetShares offers an innovative loan experience to veterans who may not be able to receive loans elsewhere. StreetShares also utilizes veteran investors to provide a unique community of entrepreneurially minded veterans.

Flexibility

One of the most noteworthy benefits of choosing StreetShares is the flexibility they offer. While big banks require rigid minimum credit scores and revenue minimums, StreetShares cares about the individual story of the borrower. This unique approach gives small businesses more opportunity for funding because a borrower’s eligibility to receive funding is not reduced to numbers such as credit scores and annual revenue. While these numbers may play some role in the loan approval process, StreetShares cares much more about a business’s potential than their numbers. Because of its size and its mission, StreetShares has the capacity to pay attention to individuals.

Features

StreetShares also promises to let you know of your loan approval within 10 minutes after you have submitted an application. The application for a loan from StreetShares is free, and very simple. Prospective borrowers are required to provide:

  • Business Tax ID
  • Social security number of business owner
  • Most recent personal and business tax returns
  • 2 most recent bank statements
  • Download of your business checking transaction history for past 6 months
  • Total outstanding debt and monthly debt payments

Likewise, the requirements to qualify for a loan are very simple. Borrowers must be:

  • A U.S. Citizen
  • In business for at least 1 year
  • Earning a minimum amount of revenue
  • Incorporated (Single Member LLC is okay)
  • Able to provide a business guarantor with reasonable credit

The Bad

While the benefits of a small lending organization are clear, there are also a number of downsides that come from borrowing from a small lending company. StreetShares is upfront and transparent about these limitations and/or negative aspects in order to let borrowers make educated decisions. Other limitations include:

Maximum Loan Amount

Borrowers will find that one of the biggest downsides to borrowing from StreetShares is the maximum amount of money that can be borrowed. Currently, borrowers are allowed a maximum of $100,000, making StreetShares a less desirable place to borrow money for many businesses who require more funding.

Term Lengths

Loan periods are also limited, offering only 6-month, 1-year, 2-year, or 3-year borrowing periods. While these time constraints may suggest that borrowing and repaying money from StreetShares is a quick and short-term borrowing experience, it also limits borrowers who may have more long-term needs for their desired funding. In short, borrowers looking for large investments with slow repayment plans, should not consider StreetShares.

Payment

In addition to these borrowing limitations, StreetShares also has a strict system for repayment. Repayment requires a fixed, weekly payment that comes from the company checking account on file. This weekly payment is a mandatory method of repayment and may not be ideal for certain borrowers who would prefer monthly payment options. If the weekly payment fails for any reason, borrowers will be required to pay a $10 fee. An additional $10 fee will be charged for every additional week the payment is not received. These fees, while small, could deter some borrowers who may anticipate a problem with weekly fees.

Fees

StreetShares also charges a one-time origination fee of either 3.95% or 4.95%. This number varies on many factors and is pre-disclosed before the loan is disbursed.

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The Bottom Line

The bottom line about StreetShares is it’s a great option for a specific set of borrowers. Businesses who need a smaller amount of cash quickly, and who plan on paying back this money in a short-term time frame, will find a great solution in StreetShares. Likewise, businesses who may not qualify for loans from bigger banks (because of lower credit scores or lower annual revenues) may find that StreetShares can offer them the loan they need in the moment they need it.

Because StreetShares only requires the prospective borrower to be  in business for one year, younger businesses will find that StreetShares offers loans earlier in the business process than other loan providers.

StreetShares’ specific focus on helping veterans fund their business makes StreetShares an especially good option for entrepreneurial veterans to borrow and invest.

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*Star Rating is determined by evaluating APR range, minimum credit score requirement, revenue requirement, length in business requirement, and other related approval data.

More Information

Types of Loans Offered

Small Business Loans – $2,000 – $100,000

Rates Offered

Unknown
View Top Rated Companies

Term Lengths

3, 6, 12, 18, 24 & 36 Months

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7 StreetShares Reviews

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  1. User Score

    2

    September 20th, 2016 Gardena, CA

    I did everything that was asked of me. I supplied all the data, Tax Returns, Cash Flow Projections, PnLs…everything. All I was met with was broken promises and really, rude staff. I hate dealing with youngsters that continue to interrupt or obfuscate or just plain go out of communication. Like I told Alex…I’m withdrawing my request for funding. You failed your interview. I don’t feel comfortable with taking you on as a financial partner. If I were you. I look elsewhere.

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  2. User Score

    10

    August 8th, 2016 Fairfax, VA

    I have been loaning money to well-deserving veteran and non-veteran companies for over a year now and I have had an amazing experience with StreetShares.com. I have told the company several times now that their site is one of the only ones that never returns “page not found” or something like that after probably clicking over 1,000 times! Great job guys. I also like how there is neither too much or too little information for me to browse when I am shopping for loans on the site. That’s a great sign that you know what you are doing guys (and girls too!). Its also great that you are so focused on small business in America because some lenders and credit card companies are financial super markets that try to cater to many different and sometimes contradictory needs and wants. I like your model much better. So much better that I bought the company. Well, not the whole company, but at least a few thousand shares. Really. The ship may have left the dock on the equity side of things but lenders and borrowers can still take advantage of this new, flexible and cost-effective platform for either (i) borrowing money to support the growth of their business, or (ii) earning interest rates that are well above what banks are paying for similar terms. Thanks for being “All You Can Be”!!!

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  3. User Score

    10

    July 23rd, 2016 Leesburg, VA

    Customer service was excellent. Very knowledgeable and empathetic. Great follow through. Received the funds in our account exactly when they said they would be there.

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  4. User Score

    10

    July 19th, 2016 Torrance, CA

    Super fast turnaround from application to funding. Very easy process to navigate and competitive quotes.

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  5. User Score

    10

    July 13th, 2016

    As an active duty service member, I’m excited by all the possibilities that StreetShares has to offer. The guaranteed 5% Veteran Business Bond is an awesome steady investment option. It’s not too good to be true, it is REAL.
    The real-time chat option and prompt email replies to questions are impressive compared to the downward trend of customer service.
    Bravo StreetShares! I look forward to my continued relationship with StreetShares and will recommend them to people I care about.

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  6. User Score

    0

    July 1st, 2016 Wheatland, CA

    This company says it help veterans. I own a small business and it would be nice to have a line of credit for when I have larger contracts that don’t pay for 60 days. Instead of a line of credit they offered me a $5000 loan. They wanted me to accept it right away although I didn’t need the money. When I pressed them for the interest rate is was 29.9%! I could get this rate anywhere. I told them not to fund the loan. Don’t work with this company they don’t help veterans! Total rip off!

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  7. User Score

    1

    February 1st, 2016 Dallas, TX

    Complete waste of time. They act like they have all these investors lining up to give out funding but after all kinds of run arounds they state they are unable to lend at this time.

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