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Bitbond small business loans review

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A peer-to-peer lending marketplace specializing in online sellers.

Through Bitbond, you can borrow up to $25,000 to fund your small business. Applying is simple and free and comes with no credit inquiry or obligation to accept.

$1,000

Min. Amount

$25,000

Max. Amount

Details

Product NameBitbond Small Business Loans
Min. Amount$1,000
Max. Amount$25,000
Loan Term3 to 12 months
RequirementsBitbond reviews your application and connected business accounts — like eBay, Amazon and PayPal — to determine your risk rating
Go to Bitbond's website

What are Bitbond small business loans?

Bitbond introduces businesses to investors and borrowers willing to fund small business loans from $1,000 to $25,000. Repayment terms can range from 3 to 12 months. You can use these loans to buy inventory, expand marketing, invest in equipment, hire staff and more.

What makes Bitbond unique?

Bitbond is a peer-to-peer lender that offers a unique way to get the funds you needs to grow your business. You submit an application with Bitbond, and investors around the world review your profile to decide whether to finance your loan in whole or in part. Bitbond loans can be funded in bitcoins, US dollars, euros or Kenyan shillings.

Who’s Bitbond best for?

Bitbond is best for online sellers on platforms like eBay and Amazon who make between $50,000 and $1.5 million per year. Borrowers tend to get financing for things like making bulk purchases, bridging cash flow gaps or trying a new product line.

What are the benefits of Bitbond small business loans?

  • You’re funded by investors. Bitbond small business loans are funded by investors worldwide.
  • Fewer and transparent fees. Bitbond uses bitcoin blockchain for its payment network to avoid transfer and exchange fees, typically resulting in lower-than-average fees and interest rates.
  • Bank account not required. Because Bitbond doesn’t require a bank account, Bitbond can fund small businesses even in underserved regions.
  • No credit minimum. Loans do not require minimum credit score and applying doesn’t affect your credit.

What to watch out for

  • One-time origination fee. Expect to pay 1% to 3% of the total loan amount, which is slightly lower than fees charged by competing companies. Bitbond can charge a lower origination fee because it allows borrowers to connect their eBay, PayPal, LinkedIn, Twitter and Facebook accounts to access creditworthiness.
  • Interest rate. Your rate will depend on the terms of your chosen loan and your borrower rating.
  • Middle man. Bitbond does not directly fund the loan, but instead connects small business owners to funding sources.

Compare more business loan providers

Updated February 21st, 2020
Name Product Filter Values Min. Amount Max. Amount Requirements
LoanBuilder, A PayPal Service Business Loans
$5,000
$500,000
Annual business revenue of at least $42,000, at least 9 months in business, personal credit score of 550+.
Customizable loans with no origination fee for business owners in a hurry.
Become Business Loan Marketplace
$5,000
$500,000
12+ months in business and $10,000+ monthly revenue
Compare loan offers from top lenders using this marketplace. It’s free & won’t affect your credit.
National Business Capital Business Loans
$10,000
$5,000,000
Your company must have been in business for at least 6 months and have an annual revenue of at least $100,000.
Get a large business loan to cover your financing needs, no matter what the purpose is.
OnDeck Small Business Loans
$5,000
$500,000
600+ personal credit score, 1+ years in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
BlueVine Business Loan
$5,000
$5,000,000
6+ months in business, $10,000 in monthly revenue, 600+ personal credit score.
Get approved for a business loan in as little as 5 minutes. Applications won't affect your credit score.
First Down Funding business loans
$1,000
$300,000
Varies by type of loan
Alternative financing up to $300K with highly competitive rates.
Kabbage Small Business Line of Credit
$500
$250,000
1+ years in business, $50,000+ annual revenue or $4,200+ monthly revenue over last 3 months
A simple, convenient online application could securely get the funds you need to grow your business.
First Union Lending Unsecured Long-Term Business Loan
$5,000
$5,000,000
450+ credit score, 3+ months in business, $15,000+ monthly revenue, no open bankruptcies
Unsecured funding and more for all credit types.
Sheer Funding Business Loans
$5,000
$2,000,000
6+ months in business, 550+ credit score, $150,000+ annual revenue, eligible industry
Multiple financing options available for business owners with less-than-perfect credit scores.
Efundex long-term business loans
$50,000
$1,000,000
2+ years in business, 620+ credit score, not a sole proprietorship or nonprofit, strong financial history
Financing for high-risk industries with transparent rates and terms.
Lendio Business Loan Marketplace
$500
$5,000,000
Must operate a business in the US or Canada, have a business bank account and have a personal credit score of 560+.
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.

Compare up to 4 providers

Am I eligible for Bitbond?

Bitbond reviews your business revenue to determine whether you qualify for a business loan. You don’t need to provide audited financial statements or a minimum credit score. You complete a borrower application, and Bitbond reviews it along with your connected business accounts — like eBay, Amazon and Paypal. The application takes around 15 minutes to complete.

To determine approval, Bitbond considers:

  • Your credit score.
  • Your type of employment and country of residence.
  • Your personal business accounts.
  • Your eBay feedback score, if available.
  • Your payment history of bitcoin loans, if such a history exists.

What can I expect when I apply?

Application process

Applying is simple and quick from Bitbond’s website. Simply click the Go to Site button on this page, submit your contact information and confirm your email.

You can connect your business account, such as eBay or Amazon, to demonstrate your sales and have your application processed easily.

After you apply

Once you’re cleared for a Bitbond loan, you’ll publish your loan requirements. You’re funded by individual investors after you’ve requested your small business loan and chosen your terms.

It typically takes from one to five days for investors to fully fund your small business loan. Once it’s funded, your cash is deposited in your specified account.

Bitbond has a repayment header in the borrower account dashboard that displays how much you need to pay and by when.

Bottom line

If you’re an entrepreneur or sole trader with an ecommerce business looking to expand, Bitbond may be able to help you get a loan of up to $25,000 that come with repayment terms of up to three years.

If you’re looking for a more traditional loan, explore other business loan options that may better suit your needs.

Frequently asked questions about Bitbond

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