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ROK Financial business loans review

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ROK Financial business loans
4.7
★★★★★
Finder score
Min. Amount
$10,000
Max. Amount
$5,000,000
APR
Starting at 6%

Our verdict

A connection service for all types of businesses — even startups.

ROK Financial is an online connection service that offers same-day financing to all types of businesses. There are no credit score requirements and your business only has to be around for three months to qualify.

But you won’t know much about the cost of the loans available or how repayments work until you fill out the form to get connected. If you’re sensitive about giving out your information, you might want to try another lender

Pros

  • Offers same-day funding
  • No credit requirements
  • Startup and cannabis-friendly

In this guide

  • Our verdict
  • Details
    • Product details
  • Your reviews
  • Ask an expert
  • Best for businesses with strong revenue that need last-minute financing.
  • Pick something else if you want to compare costs before providing information.

Details

Product details

Min. Amount $10,000
Max. Amount $5,000,000
Loan term 6 to 120 months
Min. Credit Score 670
APR Starting at 6%
Requirements Eligibility criteria 1+ year in business, $15,000+ in monthly gross sales or $180,000+ in annual sales

First, do I qualify?

ROK Financial is a free-to-use connection service. In a nutshell, you submit a form with ROK and it matches you with its lending partners (if you qualify).

Depending on the loan you’re looking for, requirements may include:

  • At least 3 months in business
  • At least $5,000 monthly revenue

ROK doesn’t list a minimum credit score, simply because requirements vary by lender. However, just meeting minimum requirements may not get you the most competitive rates with ROK’s partners.

The best deals typically go to businesses that have been around for several years, have a strong track record of growth and owners with excellent credit scores of around 740 or higher.

What makes ROK Financial unique?

ROK Financial offers options to small businesses that otherwise might not qualify for financing. Its partners will work with businesses as new as three months and business owners that have a bad credit history.

Each applicant gets customized loan offers after filling out a form and speaking with a loan specialist. And it’s just about as fast as it gets. You can get funded as soon as the same day — and no longer than three days.

Financing options with ROK Financial

There are multiple financing options to look for with ROK, including:

  • Term loans
  • SBA loans
  • Equipment financing
  • Accounts receivable financing
  • Asset-based financing
  • Merchant cash advances
  • Startup financing

Pros and cons

ROK Financial isn’t helpful to all business owners in all situations. Weigh the main benefits and drawbacks of using this service before signing up.

Pros

  • Get funds as soon as the same day
  • No credit requirements
  • Cannabis- and startup-friendly

Cons

  • Doesn’t disclose range of costs
  • Potential daily or weekly repayments
  • High revenue requirements compared to similar services

Compare other business loan options

See how ROK Financial stacks up by selecting the ranges for how much you want to borrow, your revenue, time in business and credit score.

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Name Product Filter Values Min. Amount Max. Amount APR Requirements
Lendzi
Finder Rating: 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.
Lendio business loans
Finder Rating: 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, around $8,000 in monthly revenue
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
Fundera business loans
Finder Rating: 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.
Clearco
Finder Rating: 4.8 / 5: ★★★★★
Clearco
$5,000
$1,800,000
6.50% to 19.00%
Eligible online business, average of $10,000 monthly revenue, 6 months of revenue, LLC or corporation.
Merchant cash advances for e-commerce and SaaS startups.
BusinessLoans.com
Finder Rating: 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.
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How do I get started?

ROK Financial will connect you with lenders in its network after you fill out a quick online form. Here’s how to get started.

  1. Click the green Check eligibility button on this page.
  2. Fill out the form with basic information about yourself and your business.
  3. Review the disclosures before checking the box agreeing to them.
  4. Hit Apply now.

After you submit your application, you should hear from one of ROK Financial’s business financing advisors. They’ll go over your business’s options and tell you what steps to take to complete your application.

What documents do I need to apply?

While it depends on the lender, typically all small businesses must supply at least six months of business bank statements. Or, as many as your business has if it’s been around for less than six months.

Other common documents include tax returns, financial statements and information about the business owner’s assets. But that depends on the lender, the loan amount and your business.

How do repayments work?

ROK Financial’s partners offer financing with daily, weekly and monthly repayments. How your repayments work varies depending on the lender you choose.

You can find information about what your business will owe and when it’s due in your loan agreement. That’s also where you can find out about late fees and prepayment penalties.

Read about our top picks for business lenders to see how ROK Financial compares to the best.

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Anna Finder

Editor

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