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1West Unsecured Working Capital
Min. Amount
$5,000
Max. Amount
$20,000,000
APR
Starting at 5%

Our verdict

Get multiple offers for free from this highly rated service, but watch out for strict repayment terms.

1West is an AI-driven lending marketplace — also known as a connection service — that allows you to apply for a business loan with a single application and get multiple offers from lenders associated with the service.

It partners with over 50 lenders and offers funding within 24 hours for some products. Choose from lines of credit (LOCs), SBA loans, equipment loans, invoice financing, working capital loans and more, with a Price Match Guarantee that can help ensure you get the best deal.

But 1West isn't a direct lender, so it can only give you general details about the loans offered. And if you're looking for an unsecured working capital loan, keep in mind that daily or weekly repayments may be required.

Pros

  • High ratings from customer reviews
  • Works with over 50 lenders
  • Get funded in as soon as 24 hours
  • Variety of financing options

Cons

  • Details around loan terms are unclear
  • Not a direct lender
  • Interest rates high, compared to a bank
  • Application takes longer than other marketplaces

In this guide

  • Our verdict
  • Details
    • Product details
  • Your reviews
  • Ask a question

Details

Product details

Min. Amount $5,000
Max. Amount $20,000,000
Loan term 2 months to 25 years
Min. Credit Score 500
APR Starting at 5%
Requirements 3 months in business, 3 months of business bank statements, $10,000 a month in revenue

What makes 1West shine?

1West stands out for its network of 50+ lending partners and wide range of business loan products that make it straightforward to compare multiple options in one place. It works with some of the top names in the business lending space, including OnDeck, BlueVine and Smartbiz.

As a fintech company, its Automated Business Lending Engine (ABLE) lets you apply in as little as 15 minutes without having to talk to a loan officer. It also gets high marks from many customers on the Trustpilot and the Better Business Bureau (BBB) website, who praise the company for its helpful and professional loan officers

Where 1West falls short

Compared to some other business marketplaces, 1West’s application is quite extensive, requiring a lot of personal and financial information upfront. Other marketplaces, like businessloans.com, for example, only require basic information to get you prequalified to see your loan offers.

Some customers have complained about providing a lot of information to 1West and not being able to reach the company afterward. If you’re uncomfortable with providing so much information out of the gate with 1West, you can also call the company to connect with a loan officer first.

1West’s rates, fees and terms

1West lets you compare LOCs, SBA loans, equipment financing, accounts receivable financing, real estate loans and unsecured working capital loans. Rates start as low as 5% for accounts receivable loans and start as high as 18% for working capital loans.

Keep in mind that while the 1West service is free, lenders may charge origination and other fees that can affect your loan’s APR. Repayment terms also vary widely by loan type. For example, working capital loans have terms as short as two months, while SBA loans offer terms of up to 25 years.

Read through your loan agreement carefully to make sure you understand how your loan payments work and if you’re on the hook for any fees, including prepayment penalties.

How 1West compares to other lenders

If this marketplace isn’t right for your business needs, take a few minutes to compare these connection services. Select Go to site or Read Review to learn more about the requirements and options these services offer.

1 - 6 of 6
Name Product Filter Values Min. Amount Max. Amount APR Requirements
Lendio business loans
Finder Score: 4.8 / 5: ★★★★★
Lendio business loans
$1,000
$5,000,000
Starting at 3%
Operate business in US or Canada for 6 months or more, have a business bank account, minimum 500 personal credit score, at least $50,000 in annual revenue
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
Lendzi
Finder Score: 4.7 / 5: ★★★★★
Lendzi
$5,000
$2,000,000
Starting from 3.9%
525+ credit score, one year in business, at least $50,000 annual revenue
Compare lending options and get funded fast.
Fundible
Finder Score: 4.9 / 5: ★★★★★
Fundible
$1,000
$10,000,000
Rates start at 1% per month
500+ FICO score, $200,000 annual revenue, 6 months in business, most recent business bank statements
Same day approval
Nav business loans
Finder Score: 4.8 / 5: ★★★★★
Nav business loans
$500
$5,000,000
Varies by lender
550+ credit score
Get connected with personalized matches from over 100 lending options. Plus, get the best rates with the help of dedicated funding managers.
BusinessLoans.com
Finder Score: 4.4 / 5: ★★★★★
BusinessLoans.com
$5,000
$3,000,000
Varies by loan type and lender
Must have been in business between 1 to 2 years, have a minimum revenue of $75,000 to $250,000 and have a minimum credit score of 500 to 650.
Complete a three-minute form to see loans that fit your business’s needs. Compare offers without a hard credit check.
Fundera business loans
Finder Score: 4.9 / 5: ★★★★★
Fundera business loans
$2,500
$5,000,000
Varies based on lenders
$60,000+ of annual revenue, 550+ personal credit score, in business for 6+ months
Get connected with short-term funding, SBA loans, lines of credit and more.
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1West reviews and complaints

BBB accredited Yes
BBB rating A+
BBB customer reviews 3.86 out of 5 stars, based on 14 customer reviews
Trustpilot Score 4.4 out of 5 stars, based on 149 customer reviews
Customer reviews verified as of 24 November 2023

The vast majority of customers who left reviews online rave about their experiences with 1West, specifically calling out the representatives they worked with by name and mentioning the exceptional service they received.

Complaints mention lackluster customer service and 1West staffers advising applicants to apply despite being ineligible. Other customers have complained that loans had high APRs or that they got matched with programs that didn’t fit their needs.

How to apply with 1West

To apply with 1West, follow these steps:

  1. Start the application. Fill out 1West’s application by entering your personal and business information, including your Social Security number.
  2. Upload your documents. You’ll be asked to upload your business bank statements during the application process.
  3. Sign your application. Sign the 1West agreement and submit your application for loan preapproval.
  4. Link your bank account. You’ll be required to link your bank accounts so 1West can verify your business finances.
  5. Compare your offers. If eligible, you should receive offers from the lenders in the 1West network. If you have any questions or need help, call 1West during business hours.

1West claims its application process can take as little as 15 minutes and doesn’t include a hard credit pull.

1West offers rate-matching

1West has one special promotion to take advantage of if you decide to go with this lending marketplace: a price-match guarantee.

If you get approved for a loan of $20,000 or more with 1West and another lender offers you a lower interest rate, 1West will either offer a better rate or give you a $500 Amazon gift card.

Is 1West legit?

Yes, 1West Finance is legit. It’s a privately held company founded in 2017, with headquarters in New York, NY. It’s been accredited with the BBB since 2020 and has an A+ business rating. While no company can guarantee 100% security, its website is encrypted and its privacy policy covers a variety of details on how and why your information is collected and shared.

Frequently asked questions

Can I qualify with bad credit?

Yes, it’s possible to qualify for some types of financing through 1West with a credit score as low as 500.

What documents are required?

1West requires the following documents to be uploaded with your application:

  • Government-Issued ID
  • Three most recent business bank statements
  • Voided check for business bank account

You may also be asked to provide additional documents, like a profile and loss statement or a balance sheet. 1West doesn’t accept personal statements, tax returns or cash receipts as proof of revenue.

Am I required to speak to a loan officer over the phone?

No. 1West’s Automated Business Lending Engine (ABLE) can provide financing options without requiring you to talk to someone over the phone.

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Heather Finder

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