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finder.com’s rating: 4.37 / 5.0
★★★★★
Though it’s not stated on its website, Bond Street stopped taking applications in 2017. However, you can still fill out its online prequalification form and the provider will let you know once it begins accepting applications again.
Until then, you can compare other business loan options you can apply for today.
$10,000
Min. Amount
$1,000,000
Max. Amount
Product Name | Bond Street business loans |
---|---|
Min. Amount | $10,000 |
Max. Amount | $1,000,000 |
Loan Term | 12 to 36 months |
Min. Credit Score | 640 |
APR | 8% to 25% |
Requirements | US citizen with credit score of at least 640, annual business revenue of at least $200,000, business must be at least 24 months old, business cannot be located in North Dakota, South Dakota, Nevada or Vermont. |
Bond Street was founded in 2013 by David Haber and was launched as a peer-to-peer lender in 2014 — an alternative to traditional lending options. Since its launch, it partnered with major investors including Jefferies LLC and Spark Capital. In early 2017, Jefferies bought Bond Street, and many of its employees moved on to investing giant Goldman Sachs.
Bond Street is an online lender that offers its borrowers a swift and simple application process and easy access to loan funds. It offers loans from $10,000 all the way up to $1 million to cover whatever level of funding your business needs. Loans can cover needs to open a new location or invest in inventory and equipment. In addition to quick funding, Bond Street’s rates compare well with other online lenders and it doesn’t charge additional fees for early loan repayment.
Bond Street’s swift process brings you one step closer to financing your business goals, but here are a few potential drawbacks to be aware of:
The fastest way for you to find out what loan products you could be eligible for with Bond Street is to visit its website and fill out the “Get Prequalified” questionnaire.
Here are the main points of eligibility Bond Street requires you to meet:
As of June 2018, it appears Bond Street isn’t currently funding loans. But you can still submit your application to prequalify. Here’s how:
Here’s the information you’ll need to complete your loan application with Bond Street:
If you’ve been approved for a business loan through Bond Street, you’ll need to make sure you keep up with your loan repayment schedule. Remember that Bond Street loan repayments are withdrawn on the 1st and the 16th of each month. Make sure you don’t miss a payment. And with no prepayment fee, pay off the loan early if you can.
Traditional lenders often have long and convoluted application processes with slow processing times. Bond Street is an online alternative that offers access to business capital quickly and won’t make you jump through the hoops a big bank might.
But keep in mind that Bond Street has stricter eligibility criteria than many other online providers. If your business is new or if you haven’t quite hit the annual revenue targets Bond Street expects to see, you may need to look elsewhere for the financing your business needs.
As always, compare your options before deciding on a particular lender with our comprehensive guide to business loans.
Read the full methodology of how we rate business loan providers to get a better picture of what goes into each star rating.
We rate business loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.