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Clearbanc business loans review

Low-cost merchant cash advances for online corporations and LLCs.

  • Best for businesses in the startup phase that don't want VC funding.
  • Pick something else if you don't have an eligible type of company.
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Min. Amount$10,000
Max. Amount$10,000,000
RequirementsEligible online business, average of $10,000 monthly revenue, 6 months of revenue, LLC or corporation.

How much will this advance cost me?

Clearbanc advances come with a flat fee of 6% to 12.5% instead of interest. Your business repays the loan plus a fee with a percentage of your daily sales, which ranges from 1% to 20%. Unlike a business loan, there’s no fixed repayment date — how long it takes to pay off depends on your sales.

How it works

Say your business takes out a $10,000 advance with a 10% fee. That 10% fee brings your total loan cost to $1,000. After you receive the funds, Clearbanc takes a percentage of each future sale until you’ve repaid the full $11,000.

If this takes six months, that would be equivalent to an APR of around 37%. If it takes a year, that would be equivalent to an APR of around 20%.

What do I need to qualify?

You and your business must meet minimum requirements to qualify for an advance from Clearbanc business loan:

  • Average monthly revenue of at least $10,000
  • At least six months of consistent revenue
  • LLC or corporation
  • Eligible industry

What information do I need to apply?

You need to provide the following information and documents when you apply for a Clearbanc advance — at a minimum:

  • Bank account and routing number
  • Basic information about business, like your EIN
  • Basic information about all officers and directors
  • Articles of incorporation
  • State-issued ID

What industries does Clearbanc work with?

Clearbanc only works with the following types of companies:

  • E-commerce
  • SaaS (software as a service)
  • Online retailers
  • Subscriptions companies
  • Mobile apps with in-app purchases
  • Marketplace (beta)

Pros and cons

Clearabanc can offer a good way to avoid VC funding when you can’t qualify for a bank loan. But it’s still more expensive than other types of financing.


  • Funds up to $10 million
  • Low advance fee of 6% to 12.5%
  • No credit check
  • Only requires six months in business


  • Only incorporated online businesses can qualify
  • Hard to reach customer service
  • Daily repayments

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Is Clearbanc legit?

Yes, Clearbanc is a legitimate financing company. Since it connects with your bank and other business accounts, it uses military-grade encryption like RSA-4096 and AES-256 to protect all of the information you send online from hackers.

It also won’t share or sell your information with a third party without your consent — which is why it’s important to read the disclosures before submitting sensitive information.

Clearbanc reviews and complaints

Clearbanc gets mostly positive customer reviews. Most customers are pleased with the quality of service and the flexibility that came with the loan repayments. But a few Reddit users were confused about its now-closed Uber program — and several were surprised by fees. Some Airbnb hosts reported aggressive sales tactics and poor customer service.

How do I apply?

You can apply for a Clearbanc advance online:

  1. Go to the Clearbanc website and click Get started.
  2. Enter basic information about your business and yourself, and click Calculate now.
  3. Follow directions to connect the online accounts you use to make sales and payments, and click Verify.
  4. Follow directions to connect accounts you use for online marketing. Click Continue.
  5. Enter a password to create a Clearbanc account. Click Create your account.

The whole application process usually takes between one and two business days.

What happens after I apply?

After creating your account, you should hear from Clearbanc’s investment team within one or two business days. Log in to your account to review offers and find instructions on to upload documents and complete the application. This involves connecting your business’s bank account, sales accounts and marketing accounts.

The loan shows up in your bank account within 24 hours after approval. If your business has a Clearbanc Marketing Card, you’ll receive your funds immediately after approval.

How do repayments work?

Your repayments begin as soon as your revenue starts coming in. Clearbanc automatically deducts a percentage from your daily sales at a rate disclosed in your contract — between 1% and 20%. You can’t adjust your fee or repayment percentage after you sign your loan documents.

Clearbanc might allow you to apply for more funds if your business meets the following criteria:

  • Its revenue has increased significantly since the last advance
  • It has a new source of income that increases revenue
  • It’s repaid at least 80% of the previous advance
  • It didn’t take out the maximum advance last time it borrowed from Clearbanc

If you have questions or concerns, contact Clearbanc’s customer service team as soon as possible. Chat live on its website, email the team or call 855-813-2818 or 415-952 9864.

Find more ways to finance your business by reading our guide to business loans.

Frequently asked questions

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

Clearbanc offers merchant cash advances with relatively low fees compared to similar products. With flexible requirements, it could offer a good deal to businesses that are too new to qualify for a traditional loan — and want to avoid giving up equity to a venture capitalist.

But it’s only available to businesses that operate online. We also weren’t able to talk with Clearbanc’s customer service team, despite many attempts — something customers also experience.

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