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BFS Capital small business loans review

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Get up to $500,000 in just days with this online lender.

A small business loan or merchant cash advance can mean the difference between having a good business and having a great one. Your ideas and projects to grow your business may span beyond your working capital, but that’s where trusted lenders come in. BFS Capital provides financing solutions for many industries and may be just what you need to take your business to the next level.

$5,000

Min. Amount

$500,000

Max. Amount

Details

Product NameBFS Capital business loans
Min. Amount$5,000
Max. Amount$500,000
Loan Term6 to 18 months
Requirements2+ years in business, $12,000+ monthly revenue

First, do I qualify?

You need to meet the following criteria at a minimum to qualify for a loan through BFS Capital:

  • 2+ years in business
  • $12,000+ monthly revenue

What makes BFS Capital unique?

BFS Capital is a direct lender that specializes in small business loans starting at $5,000. The difference between BFS Capital and traditional banks is BFS’s quick turnaround. Approval can take as little as one business day, and funding as little as two.

What are the benefits of BFS Capital small business loans?

From little paperwork to fast funding, here are a few perks of working with BFS Capital:

  • Fast funding. It’s possible to have access to the full amount of your financing in just days. Some traditional banks can take weeks, even months to get through the approval process and fund your loan.
  • Less paperwork. A single application is all you need to fill out, and BFS Capital mainly focuses on your most recent sales.
  • Payments are automatic. Automatic payments detract from the likelihood of incurring late fees that could otherwise spike the overall cost of your loan.

What to watch out for

Fast financing up to $$500,000 can seem like a dream come true, but there are two things to keep your eye on.

  • You’ll need a steady revenue stream. BFS Capital automatically withdraws it fixed payments daily or weekly. Traditional monthly payments are out the window, so there’s little room to adjust if you have a few down days.
  • Costs aren’t immediately available. There’s a distinct lack of transparency on BFS Capital’s website when it comes to cost. Where most lenders will give rates and terms, BFS Capital requires you to contact them to get the full picture for your specific business.

Compare more business loan providers

Data indicated here is updated regularly

Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000 – $5,000,000
Starting at 6%
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK
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Compare up to 4 providers

What do other borrowers have to say about BFS Capital?

BFS Capital is rated A+ and accredited with the Better Business Bureau (BBB). Though there are two negative reviews on the BFS Capital BBB page from 2015 and 2016, they are vastly outweighed by the number of positive reviews received by the company on Trustpilot.

With reviews from as recent as February 1, 2018, there are 208 reviews that provide BFS Capital with an Excellent rating and a TrustScore of 9.7 out of 10. Great service is among the top accolades from reviewers, with others praising the quick turnaround time they got on their financing.

How do I apply?

  1. Got to BFS Capital’s website and click Get started.
  2. Fill out your first and last name, email, phone number and company name.
  3. Click Submit.
  4. Download or print out the Signed Application and General Authorization forms.
  5. Fill out the forms and gather your past three months of bank statements.
  6. If your business processes debit and credit card transactions, include the previous four months of debit and credit card statements.
  7. Send the completed forms and statements by email or fax to BFS Capital.

In total, the application process should take less than 10 minutes if you have the information on hand. A BFS Capital Funding Advisor will contact you to discuss your application. An approval decision can come in as little as one business day.

What documents do I need to apply?

  • Personal identification. A state or federally issued ID, such as a driver’s license or passport, will be required to prove your identity.
  • Personal bank statements. Your personal bank statements provide insight into your ability to pay back the loan.
  • Most recent profit and loss statements. Daily cash flow is closely inspected due to the type of repayment plans.

I got a BFS Capital small business loan. Now what?

You’ve got the funding you need, but now you need to make sure you’re able to pay back the loan per the terms of your agreement. Automatic payments are deducted weekly or daily, so you’ll want to at least have the amount due ready and in your account each day.

Bottom line

BSF Capital can be a great solution if you meet the qualifications, have a steady daily cash flow and need quick funding. For businesses that have a more sporadic income, it may not be the best option. Getting the best deal that works for you is always important, so before you commit to any one lender, compare your options.

Frequently asked questions

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