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Rapid Finance

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8.2

Overall Score

Author: Kaitlyn Short

LAST UPDATED: May 31st, 2023

Small business financing company Rapid Finance has grown to be one of the biggest names in alternative business financing since its founding in 2005. With personalized customer service, competitive rates, and flexible funding options, Rapid Finance has funded over $2 billion for companies in various industries. 

The company's variety of financing options puts it at the forefront of the industry. Rapid Finance also provides a business advisor who will work with customers one-on-one in order to service every unique business situation.

Applications are not solely based on credit score, giving more applicants funding opportunities, and financing amounts start at $5,000. 

Customers can get approved in minutes and can receive funding in as little as 24 hours. 

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The Good

  • Variety of Loan Options
  • High Maximum Loan Amount
  • High-Quality Resources
  • Customer Support
  • Rapid Finance Reviews

Variety of Loan Options

Rapid Finance provides a variety of financing options for lots of differing borrower needs, including the following: 

  • Bridge loans
  • Lines of credit
  • Merchant cash advance
  • SBA loans
  • Invoice factoring
  • Asset based loans
  • Commercial real estate loans

Through its lending partners, Rapid Finance allows customers to participate in low-interest rate SBA-approved bridge and long-term loans. 

The company's small business loan is a great fit for small businesses that do not meet the criteria for an SBA loan.

The merchant cash advance (MCA) and line of credit are both good options for short-term cash needs. Small businesses can purchase new equipment, bolster their payroll, or pay off tax liens with the MCA or line of credit products.

Approved loan uses depend on the loan type, but includes practically any need you have as a business owner, including the following: 

  • Working capital 
  • Location expansion
  • Equipment leasing
  • Payroll 
  • Debt consolidation
  • Technology
  • Marketing

Be aware that Rapid Finance works with a partner network of various finance brokers for equipment leasing, credit card processing, asset based loans, and invoice factoring so pay close attention to the specific requirements, rates, terms, and conditions set forth by your direct lender, including the following:  

  • Application process
  • Positive credit behavior
  • Interest rate
  • Origination fee
  • Fixed fee 

High Maximum Loan Amount

With Rapid Finance and its partner network, businesses can receive financing ranging from $5,000 to $10,000,000 depending on gross sales and other factors.

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Highlight: Rapid Finance offers a wide range of loan dollar amounts. 

Many lenders in the industry have much higher minimums and much smaller maximums. The wide range offered by Rapid Finance gives potential borrowers more options based on their specific cash flow needs, large or small. 

High-Quality Resources

Rapid Finance's website provides excellent resources for small business owners including white papers, slide share presentations, and an e-book on marketing best practices. Its blog is updated frequently and includes a long list of articles covering several small business topics. 

Additionally, you can check your eligibility with Rapid Finance's loan amount calculator to see how much you could qualify for if approved based on your credit score and gross monthly sales. 

Keep in mind that the results of the calculator are no guarantee; you’ll still need to be formally approved with an application. 

Customer Support

When clients choose to work with Rapid Finance, they'll have access to a personal business advisor who can help them determine which financing options are right for their business.

Rapid Finance also provides a number of other tools for borrowers, including a client portal that is accessible around the clock and allows borrowers to upload documents, see payment information, and review financing when applicable.

Rapid Finance Reviews

The majority of Rapid Finance reviews are positive, giving the company a high rating from consumers. Rapid Finance customers highlight quick loan approval and funding time, great staff and customer service, and competitive rates. 

With such high ratings from customers, future borrowers can have peace of mind knowing Rapid Finance is a trusted lender that delivers quality and satisfactory service. 

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The Bad

  • Does Not Fund Startup Companies
  • Excluded Businesses

Does Not Fund Startup Companies

Rapid Finance does not provide funding for startups, so those looking for startup funding will need to look elsewhere. 

To qualify for a loan with Rapid Finance, businesses have to meet certain requirements, such as being in business for at least six months and having at least $5,000 in monthly revenue. Business owners will need to have a credit score of 550 or higher. 

Excluded Businesses

Rapid Finance does not service the following business types:

  • Annual memberships
  • Adult entertainment
  • Bail bonds
  • Casinos
  • Churches and all non-profits
  • Collection agencies
  • Consumer debt counseling services
  • Direct/multi-level marketing
  • Firearms
  • Flea market
  • Home-based door/door-no lease space
  • Kiosks
  • Law firms
  • Marijuana (dispensaries, producers, distributors)
  • Payday loan companies/other lending businesses
  • Travel agencies
  • Car services 
  • Automobile dealerships
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The Bottom Line

Overall, Rapid Finance has some great options available for the small business owner, including a merchant cash advance, asset based loan, line of credit, and other small business loans. 

In addition to offering multiple financing solutions, the company offers a simple application process, opportunities to borrow even with bad credit, quick approval and funding times, and respectable customer support.

If you are a consumer looking for a trusted online lender and your company has at least six months in business and $5,000 or more in monthly revenue, a Rapid Finance loan may be a great choice. 

You can find Rapid Finance reviews below to learn more about customers' experiences with a Rapid Finance business loan.  

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1-(866) 564-3221

Star Rating

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4.8

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525 Reviews

Review Breakdown

5 grade

89%

4 grade

6%

3 grade

1%

2 grade

1%

1 grade

4%

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Featured Review

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5

Rapid Finance jumped on the ball and took care of things so that's how we wound up with them. There was passion with what they were doing. They came beside you and that was the most important part for me, getting somebody to help me out when I needed it. They took charge and began to ask questions that were relevant to get the loan. It was two or three days of calling back and gathering information. Their work ethic was good. At the beginning I was very nervous about asking for the loan thinking that no one would help me out but then they had the confidence in what they did and were able to help me out. It was a great great help.

5 years ago

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Reply from Rapid Finance

Thanks for the awesome review, Samuel! We work hard to meet expectations like yours, and we’re happy to hear we hit the mark for you. Cheers!

Apr. 19th, 2019

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Turk Automotive Inc Hawkinsville, GA

Actually they called me during the time I was in need and I didn't really know what to do and it just so happened that one of their column brokers called us and talked to us about it and they introduced it to us. They directed and wrap it had us in money in two days so we were excited about that. I was not aware in the beginning that it would start with one group and then I think we actually started with or something I don't know who we started with and then ended up with rapid but they were just really I mean they're really on the spot that's some things I didn't understand I had to learn later that we've we've refinance twice and we're you know what they've done is right. They're constantly following up with me on email to see if there's anything else I need telling me where I am and Malone telling me how long it would be before I could refinance if I was interested and they worked with me kill it diligently over the funding process until they were sure that I had money in my hand and I was satisfied. I just know that they're they listen to their all their very understanding is that it shows and they listen to your name and your walls and try to work with you on that level. I know in the beginning the interest rate scared me and we talked about it and they explained how after I was halfway through to the correct financing bring my season and stuff down and they were true to their word word on that side I just think you're good you're good company to do business with.

6 years ago

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Timothy Hundley New Boston, TX

Chosen because they were professional yes I am glad I did. They just make it easy. Every time it is simple to fill out, very helpful. They do the follow up calls and they do check on your states. They want what's best for you not necessarily about the money. Well you know I've gotten to know the people over there and after I got my first along with him now you know when I need something is just a phone call away minutes that it's a good experience.

6 years ago

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5

The process was easy. They followed through with everything they said they would do and the money was available when they said it would be. The applications were short and I was approved for a certain amount of money and it was placed in my account a few days later.

5 years ago

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Reply from Rapid Finance

Thanks for the awesome review, Johnny! We work hard to meet expectations like yours, and we’re happy to hear we hit the mark for you. Cheers!

Apr. 19th, 2019

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4

They're easy to deal with and talk to you and able to get you money as you need it. The representative was easy to deal with and she explained everything well to me and just did a fine job and doing everything that needed to be done. I called them up and told them what I needed and they verified what they could give and we set it up and went for it.

5 years ago

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Reply from Rapid Finance

Thank you so much for your kind words, Roger. We really appreciate you taking the time out to share your experience with us

Apr. 19th, 2019

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5

They offered the best interest rates and quickest funding abilities. Every experience we've had so far with Rapid Finance has been wonderful. Everybody's been great communicating and making sure that we understand our contracts thoroughly. The process was quick and easy.

5 years ago

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Reply from Rapid Finance

Thanks for the awesome review, Richard! We work hard to meet expectations like yours, and we’re happy to hear we hit the mark for you. Cheers!

Apr. 19th, 2019

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5

My customer service rep was very thorough in her communication and I received a lot of emails and overall the communication is good and very thorough. Everything was kind of over within a day so everything went pretty smooth. It's been a great experience and a great relationship with Rapid Finance. I'm very happy.

5 years ago

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Reply from Rapid Finance

Thanks for the awesome review, David! We work hard to meet expectations like yours, and we’re happy to hear we hit the mark for you. -Beatrice

Apr. 19th, 2019

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5

I went with Rapid Service because they were the easiest to work with. They were fast and they did what they said they were going to do. They were lovely to work with. It was very easy to apply. The terms were some of the best we found and they made it very easy to help us through each step of the way answering any questions we had.

5 years ago

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Reply from Rapid Finance

Thank you so much for sharing your experience with Rapid Finance.

Apr. 19th, 2019

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5

They told me that they would have the money in my account on a certain date and that's when it was there. I've never had any issues. I had to give them three months of bank statements and they did a credit check and that was it.

5 years ago

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Reply from Rapid Finance

Thanks for sharing your experience with us! We appreciate the positive feedback and are glad we could be a part of your business' growth😊

Nov. 16th, 2020

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Sargam Bhatt, Tyler Zilli, Kisha Daniels

They were patient and really took the time to listen to what the customer's needs are and I believe they do their best to try to fulfill that need. The customer service is very knowledgeable, professional, pleasant, and followed up and expedited my funding. Overall, I'm very pleased with Rapid as compared to other companies out there.

5 years ago

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Reply from Rapid Finance

Thank you so much for your kind words, Lisa. We really appreciate you taking the time out to share your experience with us.

Apr. 19th, 2019

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Anonymous Kilgore, TX

I'm happy I went with Rapid Advance, because they've helped me with what I needed. It was pretty easy to obtain a loan through them. Their customer support was easy to work with, and they answered any questions I had at any time.

6 years ago

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Mark Turner Stillwater, MN

Rapid Advance's customer support is very responsive. Within 24 hours, someone is helping me out and solving my problems. They are quick at getting my basic information for the loan, and in no time it was processed and all the money was in my account.

6 years ago

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Just Past China

This is my second time utilizing this process due to a few unexpected situations in my business. I thought the fees were high but I was in need of assistance. With that being said it was a tiny bit time consuming but after they received the information it was a smooth transaction

6 years ago

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Anthony Birch

Great customer service and great rate and my customer agent name Anthony Birch help throw every single step without stress! I am the 2nd time using this time and I will be back again for 3rd time !! Help my business grow !! Thank you !! And god bless you!!

6 years ago

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Champagne Images Goodyear, AZ

I called a couple of services to see who would get back to me and they were actually the first ones. I'm glad I went with them. They stood by their name, the process of getting a loan was very rapid. They got to me in a timely manner and made sure that I was satisfied.

6 years ago

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Jeanie Vang Hickory, NC

I went with Rapid Advance because they were able to help me with the capital that I needed. The person that helped me was good. They have good customer service skills and just get on with their job. Every time I need something, they answer right away or give me a callback as soon as possible.

6 years ago

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Anonymous Picayune, MS

I'm glad I went with them. The sign up process was easy and simple. The account managers are easy to work with too and don't need a lot of paperwork from you. It was simple for me to gather the information they requested. I'm a very happy customer.

6 years ago

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Tunks Cypress Inn Boyce, LA

I chose them because I was trying to find some funding online. They popped up so I called and talked to someone. The first time I went through the process it was pretty slow but the second time it went pretty quickly. The people there are always available to answer any question that I have and they always try really hard to give me what I need. The only thing is that, if you want to add more funds they negotiate a whole new interest rate for that instead of just adding it to the amount you already have. I thought that was a little unfair, especially since you have 2 completely different interest rates for the same loan package.

6 years ago

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Michael DeLuca

I have worked with Olivia D. on multiple occasions. She is always prompt and attentive to us when we call on them for funding. The rates are decent, process simple and clean, and payment terms manageable. Thanks again Olivia and her team to help fund some ongoing projects for our company!!

6 years ago Edited September 14, 2021

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Michelle Moore

Because the process was so fast ant the representative was so friendly and eager to help. I thank God for one of my friends for recommending this company to me. I was very pleased

5 years ago

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Reply from Rapid Finance

Thank you so much for your kind words, Michelle. We really appreciate you taking the time out to share your experience with us. -Beatrice

Apr. 19th, 2019

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Jani King Ruidoso Downs, NM

Jasmine did all the footwork and helped us out. The customer service is professional and easy. It was very very quick and it was a good experience. They are always calling to see if we're okay with our loan and if we need anything. The follow up is really great.

5 years ago

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Reply from Rapid Finance

Thank you so much for your kind words, Jerelyn. We really appreciate you taking the time out to share your experience with us—and we agree, Jasmine is truly a gem to have on our team! We count ourselves lucky for customers like you. We look forward to working with you again in the future! -Beatrice

Apr. 19th, 2019

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CEO from NY Red Hook, NY

Very responsive and professional; Rapid Advance is a standout go to source for fast funding for growing companies. They have come through for us every time we reached out to them.

6 years ago

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Maryam Sadik/ Anthony Birch Paragould, AR

My customer service representatives have been caring and interested...not only in the financial aspects of my business but in the happenings of my family and life. That's rare.

6 years ago

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Pryce Richards Pompano Beach, FL

I've used this company before, and they're very efficient. They're user friendly, and it's easy to upload documents to obtain the loan. I was helped by a very congenial young person!

6 years ago

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Camilli Seawright Cedar Hill, TX

This is a very friendly and professional company. They answered my questions quickly, and they were very compassionate towards me. They ensured the whole business loan process was easy for me.

6 years ago

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Aman Yehdego Columbia City, IN

Rapic Advance has competitive rates and pricing. The loans are easy to manage, and the customer support builds relationships more than anything. It's a very personable company to work with.

6 years ago

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Iride Used Bicycles Restoration & Repairs St. Petersburg, FL

I chose them because I like the way that the money comes off of a card processing fees to pay them back. It was a little slow getting things off the ground but once they finally got things worked out it worked out just fine. They've always been very able to solve every problem. Nick R is extremely professional and very very helpful.

6 years ago

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Tyson Nail & Spa Lynwood, CA

I'm happy I went with them. Every time I needed them, they were there to help me out quickly. It's a good company and they give you good service. They've done everything they promised they would do.

6 years ago

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Yevgeniya Khaimova Brooklyn, NY

The people in customer service are very friendly, quick, and on point. Everything else is just easy, for payments they just take the money out of my account. I'm glad I went and worked with them.

6 years ago

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Hair Cleaners Lice Removal Clinics, Key Biscayne, FL

Getting the loan was pretty easy and convenient, there was no pressure at all from them. I haven't changed agents much, but the 2 I've had have been pretty clear and precise in the information they give me.

6 years ago

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Joshua O'Brien Knoxville, TN

When I opened up the opportunity to take a loan for my business, I had much trepidation because loan companies can be very predatory especially when you don't have decent credit or aren't a million-dollar company with a lot of collateral. Rapid Finance not only were quick to respond to my application, they were very competitive with other Banks to earn my business: matching and beating other offers. Where other companies had vied for my business in a way that is expected tough and hard and high pressure. The people I dealt with at Rapid ( Melissa my agent, and Ross her manager) did not treat me like I was an imbecile but treated me with courtesy, respect, and professionalism only expected from larger Banks. Needless to say since I'm writing this review I went into business with them and if they continue doing as promised I will continue to do so. If you were reading this review be aware that these are higher interest loans, but they will help you get better terms in the future if possible. It seems to me their attitude is to keep customers for the long term and not get a one-off loan. As with any loan make sure this is what you need, do not buckle into pressure just because people are nice way they could pros and cons. From me and my business this works just fine.

2 years ago

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Jake Hathaway Northborough, MA

I responded to an email from Lending Tree and started receiving email solicitations, of which, many were deceptive in nature, stating that my application was incomplete or that I was "a step away" from funding. During this time I received a very professional email from Melissa S at Rapid Finance. She was never deceptive or sneaky, and was very helpful walking me through their application process. I felt completely satisfied with their process and it took less than a day for them to complete my request for funding, I would highly recommend Rapid Finance to any small business that needs capital! Jake Hathaway Owner

2 years ago

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Shane Taylor Hartselle, AL

Shawn and Tyler were great to work with. Very fast turnaround time on getting funding deposited quickly. Owning a small business can be tough when working with local banks on getting funding to help when cash flow is low. The line of credit worked great for my short term cash flow issues. This being a 12 month program will and should encourage you to pay off your balance as quickly as possible. This program is not designed for long term debt but to help solve short term cash flow issues. At least that is what I am using it for. Happy to know they are helping small businesses out when needed.

2 years ago

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Mason Martin Atlanta, GA

My name is Mason I dealt with Andrew N from Rapid Finance. He done a great job and made it a very pleasant experience! He was very professional and had a good honest vibe about him. He didn't try and pressure me or sale me on anything I did not want. He didn't waste my time he knew exactly what he was doing and got straight to it. The phone time was literally just a few minutes. He was really helpful and informational and it went exactly how he said it would from the beginning. No going back and forth he was upfront and honest about how it would go from the start. Literally just 2 or 3 minutes on the phone then application took less than 10 minute. Then he transferred it to the underwriters and they done a great job also! they were very quick and great to deal with also! Great team they had me the funding that same day! They have a great user-friendly platform also where you can easily see all your account information and details.

2 years ago

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Donald Snyder Willow Creek, CA

OUTSTANDING EXPERIENCE! If you use this company (you should) ask for Melissa to be the one assisting you. She worked around my hectic schedule. She went above and beyond to present me with good options and even took the initiative to look into a different line of lending that wouldve saved me money and worked better for my business model. She knew the ins and outs of every option and explained them in a clear and complete way. And when i told her i had a shory window of time she had the best contract in front of me in one day and answered all of my questions about it. If i need financing again, I'm going back to her. I can't tell you how great this service was. I will absolutely be recommending Rapid Finance.

3 years ago

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Natalie Taylor Charlotte, NC

The application process with pretty simple and straight forward. At one point I had a technical difficulty so I called the 1800 number and got connected to Prachi on that call. To know that a human will pick up immediately and speak to me meant a lot. It was a holiday weekend and the end of the work day but Prachi took my information and promised to get back to me the following week with results. She literally spent time to understand my need and listen to learn about my business and got me help based on my business need. I got funded immediately- within 24 hours- after our conversation. I am looking forward to developing this partnership with the team at Rapid Finance.

3 years ago

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Reply from Rapid Finance

Thank you for the kind review, Natalie! We prioritize customer service and are so glad to hear your positive experience😊

Dec. 1st, 2021

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Randall Dailey ,

I have had 3 separate loans with Rapid Finance and rate them high on customers service, respect as a person and business. The interest they show in what your doing and to understand your business, growth and needs is great, So they can understand your needs and accommodate them. Jasmine has been extraordinary at communicating with me on all three and from start to finish. Jasmine is a breath of fresh spring air when it comes to lending. Jasmine makes other lenders look like turtles. you don't have to repeat anything twice, with jasmine she remembers you and your business like she is a neighbor. I highly recommend rapid finance above all others like them and if you want the best, quickest , and friendliest ask for jasmine.

3 years ago

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Reply from Rapid Finance

Thank you for the kind review, Randall! We thank you for your business in the past and look forward to our continued partnership!

Mar. 22nd, 2021

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Keith A. Ridgewood, NJ

I just want to take a moment to thank Ross W for his unbelievable service. As a consultant, I too am in the customer service business, so I have a keen awareness and heightened sensitivity to detect exceptional effort. Ross reached out to me over the weekend and was extremely patient in waiting for me to get back to him. He was very careful in explaining options and his professional explanation actually convinced me to not pursue a direction that I originally thought was what I wanted. I ended up getting a product that was ideal for my situation and the entire process was very quick. Ross stayed constantly in touch with me via phone calls and text messages with every document and communication. I felt like I was his only client. What amazing service! Without a shadow of a doubt, Rapid Finance now has a customer for LIFE. Thank you, Ross. You are a true complement to you our organization. I’ve been a consultant for 20+ Years and it is extremely rare to find someone who puts out such a level of dedication and effort with an energy and harmony that is by far… above and beyond. Thank you Ross!

4 years ago

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Reply from Rapid Finance

Thank you for the review, Keith! We pride ourselves on providing simple and quick solutions to our clients and we're glad Ross was able to assist you in finding the perfect fit for you. Thank you for choosing Rapid Finance😊

Nov. 30th, 2020

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David

Rapid Finance has best rate I could get for money. It was just very very easy to to apply and then they do whatever I need to close out the transaction.

5 years ago

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Reply from Rapid Finance

Hello,

Thanks for the excellent review! We work hard to meet expectations like yours, and we’re happy to hear we hit the mark for you. Cheers!

Sep. 11th, 2019

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5

The service was quick and convenient. They let you renew the contract. The customer service was very nice. I did it online and it was just real simple and hassle free.

5 years ago

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Reply from Rapid Finance

Thank you so much for sharing your experience with Rapid Finance

Apr. 19th, 2019

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5

The customer service was very good and very easy to work with. The gentleman was very professional and quick and attentive and thorough through the whole process.

5 years ago

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Reply from Rapid Finance

Thank you so much for sharing your experience with Rapid Finance

Apr. 19th, 2019

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Brad

It's a double edge sword. I would use them for more if the payments, fees, and terms were more friendly. It's never a permanent solution to anything. It will always be a last minute option. Expensive short term cash instead of long term loans.

6 years ago

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Kyle Kahn Peachtree City, GA

The service is amazing! No a simple process but the great knowledge the representatives have make it and easy process. Loved everyone I have worked with.

6 years ago

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Sergio Duarte Rockledge, FL

They allways are efficient and prompt with there services, first time is allways challenging but once a relationship is built it's literally same day service!

6 years ago

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Anonymous Cincinnati, OH

I don't recall why I chose them I look at BBB better business bureau rating and it was very good in yes I'm glad I did. They are fast and efficient. I only deal with 1 person and that is Brandon he does an excellent job.

6 years ago

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Amoy Belvett Brooklyn, NY

Getting my loan was very fast. It didn't take much time before I could get it. Someone was always there to answer my questions if I had any. The only thing is that the interest rate they give you is too high, it's at 28%.

6 years ago

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Patrick Yearly Centreville, VA

Ben S was outstanding. He was very professional, patient with my many questions and always prompt in his phone calls. He made me quite comfortable with the whole process and I certainly felt I had made the right decision selecting Ra[id Finance as I had been approached by numerous other lenders. My only regret is that I can't continue to work with Ben as now I have been transitioned to a Client Loyalty Specialist who also impressed me with my first interaction with her. People like Ben are extremely hard to find for companies in today's environment.

2 years ago

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Ms. McGann FL

Andrew N at Rapid finance reached out to me and had all funding approved and deposited in just one day. He was incredibly helpful and attentive. He is highly professional and knowledgeable about the products available. He helped us navigate what was best for our business. Thank you so much. I will definitely recommend him and Rapid Finance anyone in the industry I know. I couldn’t be happier with how wonderful the staff is. Olivia who is handling my account for future services is amazing. Great staff. Thank you so much!

2 years ago

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Sherman McCoy Little Rock, AR

Benjamin S with Rapid Finance made the entire process far easier and simpler than we possible could have imagined. He kept us updated and well informed during the entire application process, right up to when the funding was in our bank account. After our introduction to our account representative, Jasmine L, we are looking forward to working with her for any possible financial needs we may have in the future. We had received offers from four other financial lending companies. Rapid Finance is by far the easiest to work with and have the most reasonable rates we've been able to find.

2 years ago

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TRUST FUND SOLUTIONS CO Homestead, FL

I am very pleased to say that I have received Platinum service, that is to say, Superb service from the associate Mrs. Prachi R. It is a pleasure to have her as my account representative and because of her I truly feel Rapid Finance is a winning financial institution. I look forward in speaking with R as she always answers any question or solves any issues promptly and with impeccable customer service. Thank You Prachi R.

2 years ago