Jeeves business loan review

Our verdict

Our verdict

Launched in 2020, Jeeves is an online lender offering financing to both promising startups and established businesses. Get approved for financing in as little as 24 hours, without having your personal credit score checked or personally guaranteeing your loan. To qualify for a loan, you'll need to have a monthly revenue of $20,000.

Best for: Startups or business owners looking for quick and large loans.

Pros

• Fast approval
• Large loan amounts
• No personal guarantee required
• No personal credit check
• Startups can apply

Cons

• Short loan terms
• Not available in Quebec

Jeeves Business Loan is not currently available on Finder

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Loan Amount

$100,000 - $10,000,000

Loan Term

30 days - 12 months

APR

Undisclosed

What is Jeeves?

The company was launched through YCombinator and currently operates in Canada, but is headquartered in New York.

Is Jeeves legitimate?

What types of business loans does Jeeves offer?

There are 2 main Jeeves Business Loan that you can apply for:

• Working capital loan. These loans can be used to fund everyday business expenses like payroll, rent and operational costs. Terms are 30, 60 and 90 days.
• Revenue-based financing. Revenue-based financing lets you use your future sales to pay off your loan. You can borrow between $100,000 and $10,000,000, and you’ll usually have to pay it back within 12 months.

What we like about Jeeves

• Fast approval. Get approved for financing in as little as 24 hours or up to a week depending on your application.
• Large loan amounts. Borrow between $100,000 and $10,000,000.
• Available for startups. Access funding once you’ve been in business for as little as 6 months (and you may even qualify sooner in some cases).
• No personal guarantee. You won’t be required to put your own finances on the line if your business fails to pay back the loan.
• No credit check. There’s no need to submit to a credit check to qualify for financing.

What to watch out for

Watch out for the following drawbacks with Jeeves Business Loan:

• Short terms. You’ll usually only be able to borrow funds for between 30-90 days for working capital, up to 12 months for revenue-based financing.
• Large revenue requirements. You’ll have to show that you make $20,000 in monthly revenue to qualify.
• Some industries excluded. You won’t be eligible for financing if you run a cannabis or crypto business.
• Not a Canadian company. Jeeves isn’t based in Canada and you won’t be able to visit a branch in person if you have issues with your loan.
• Difficult to find customer reviews. There are very few customer reviews for Jeeves posted online since the company is still fairly new.

Am I eligible for a Jeeves Business Loan?

To apply for a Jeeves Business Loan, you need to meet the following criteria:

• Be a Canadian citizen or permanent resident who is the age of majority in your province
• Own a business in Canada
• Make $20,000 in monthly revenue
• Be in business for at least 6 months (except in special circumstances)
• Not be involved with a cannabis or crypto business

How to apply

Follow these steps to apply for a Jeeves Business Loan in under 5 minutes:

1. Click on “Join Jeeves” in the upper-right corner of the main page.
2. Wait to be redirected to an application and input your personal information (2 minutes):
3. Includes your name, email, phone number, what type of business you’re in and what financial product you’re interested in (credit card, financing or both)
4. Click through to the next page and input your business info (2 minutes):
5. Includes your business revenue, funding you’ve raised to date and how much you spend each month.
6. Put a link to your company website and click “Apply Now”.
7. From there, you should be contacted by a Jeeves agent to discuss your loan options.

Bottom line

• Jeeves Business Loan let you borrow between $100,000 and $10,000,000, with loan terms up to 12 months.
• Get financing for startups and established businesses when you have a monthly revenue of $20,000 and meet other eligibility criteria.
• Qualify with no need for a personal guarantee or credit check.

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OnDeck Business Loan		8.00% – 29.00%	$5,000 - $300,000	6 - 18 months	$100,000/year	6+ months	Secured Term, Line of Credit, Merchant Cash Advance	To be eligible, you must have been in business for at least 6 months with a minimum annual gross revenue of $100,000. OnDeck offers fast and simple financing. Apply in less than 10 minutes with your basic business information and see your loan offers without hurting your credit score. Get approved within 1 business day, and choose your term, amount and payback schedule once approved.	Go to site More Info	Compare	loading Fetching your data...
Merchant Growth Business Loan		12.99% - 39.99%	$5,000 - $800,000	6 - 24 months	$10,000 /month	6 months	Unsecured Term, Line of Credit, Merchant Cash Advance	To be eligible, you must have been in business for at least 6 months and have a minimum of $10,000 in monthly sales. Merchant Growth offers financing tailored to business needs. It specializes in providing capital based on future cash flows, but it also offers fixed solutions. Fill out an application within 5 minutes and get your funds within 24 hours.	Go to site More Info	Compare	loading Fetching your data...
Loans Canada Business Loan		6.60% - 29.00%	$4,000 - $500,000	3 - 60 months	over $10,000/month	100 days	Unsecured Term	To be eligible, you must have been in business for at least 100 days, have a Canadian business bank account and show a minimum of $10,000 in monthly deposits ($120,000/year). Loans Canada connects Canadian small business owners to lenders offering financing up to $500,000. Complete one simple online application and get matched with your loan options.	Go to site More Info	Compare	loading Fetching your data...

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Frequently asked questions

• Is Jeeves a bank?

  No. Jeeves is a fintech company that provides business loans and business credit cards.

• Who owns Jeeves?

  Dileep Thazhmon is the CEO and founder of Jeeves.