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Diamond Business Loans review

Explore a variety of loan options for nontraditional businesses.’s rating: 3.85 / 5.0


  • Best for nontraditional businesses looking for smaller loans.
  • Pick something else if you want a quick, online process.


Min. Amount$25,000
Max. Amount$150,000
Loan Term12 to 60 months
Min. Credit Score680
APR5.9% to 19.99%
Requirements680+ personal credit score, no late payments or bankruptcies

How much will this loan cost me?

Diamond offers small business loans up to $150,000 with rates ranging from 5.9% to 19.99% — very competitive for a lender that works with nontraditional businesses. Like most lenders, your loan term will last anywhere from one to five years. However, there is a high 10% origination fee on every loan.

You can use the calculator below to estimate your monthly payments with Diamond Business Loans.

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How it works

While you only need to submit a copy of your credit report to qualify for preapproval, Diamond Business Loan determines your rate based on factors like your credit score, income and your loan term. If you only meet the minimum credit score requirements, your business may only qualify for the maximum APR and a smaller loan. If you exceed them — or have a high revenue — you may be eligible for Diamond’s lowest APR.

Cannabis funding

Businesses in the cannabis industry, from startup growers to established dispensaries, may be eligible for funding from Diamond Business Loans despite the shaky legal status in different states. You can get an idea of the rates you might qualify for by sending over a copy of your personal credit report — a service many other lenders that work with nontraditional businesses aren’t always able to provide.

You can also learn more about how to get funding for a business that works with cannabis to see what other options are available.

What do I need to qualify?

For your business to qualify for funding through Diamond Business Loans, you must meet these requirements:

  • At least a 680 personal credit score
  • No late payments listed on credit report
  • No past bankruptcies

What information do I need to apply?

Once you fill out Diamond Business Loans’ contact form, you will need to submit a full copy of your personal credit report. From here, Diamond Business Loans will determine if you’re eligible and may request other documents, like your business tax returns or business plan, to finalize your application.

What industries does Diamond Business Loans work with?

Diamond Business Loans works with businesses in a variety of nontraditional industries, including businesses involved in cannabis and adult entertainment. While it doesn’t have a set list, you can contact a representative to ensure your business falls within Diamond’s scope.

What other types of financing does Diamond Business Loans offer?

Diamond Business Loans offers a variety of financing options for businesses, including:

Startup loans


Funding a new businesses with limited revenue

SBA 7(a) loans


Borrowing at a lower rate through a government-backed program

Commercial real estate loans


Buying or refinancing property for your business

Equipment leasing and financing


Funding equipment on a short-term or long-term basis

Accounts receivable financing


Also known as invoice factoring — selling unpaid invoices for more flexible cash flow

Debt restructuring and refinancing


Switching from daily repayments to weekly or monthly repayments

Business acquisition financing

Not stated

Buying a business or funding a franchise

Merchant cash advances


Covering gaps in cash flow on a short-term basis

Exact loan amounts, terms and collateral requirements will depend on your business needs.


  • Cannabis and startup friendly
  • Preapproval process only requires credit report
  • Personal application process


  • High 10% origination fee
  • No online application
  • Funding may take up to two weeks

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Is Diamond Business Loans legit?

Yes, Diamond Business Loans is a legit lender that is licensed by the California Department of Business Oversight (DBO). Its website is secure, and it only collects basic information about you and your business. However, it does state it may sell your information with your consent — without explaining how consent is obtained. To limit the sharing or selling of your information, contact Diamond Business Loans.

Sales calls from Diamond may be fake

As of September 2019, people have been receiving sales calls from individuals claiming to represent Diamond Business Loans. Diamond Business Loans states that it does not make outbound sales calls. If you receive a sales call from someone claiming to be from Diamond Business Loans, you are encouraged to report it to Diamond and to the FTC.

Diamond Business Loans reviews and complaints

BBB accredited Yes
BBB rating A+
Trustpilot Score 4 out of 5 stars, based on 3 customer reviews
Customer reviews verified as of 13 October 2019

Diamond Business Loans only has three reviews on Trustpilot — the most recent from 2019. So while it earns a high rating, it's difficult to tell how decent its service actually is based on other customers' experience. That being said, there are two recent reviewers on its Yelp page who were pleased with its customer service.

How do I apply?

Diamond Business Loans doesn’t have an online application, but you can reach out by filling out its contact form.

  1. Go to Diamond Business Loans’ website. Click Apply now.
  2. Enter your contact information, time in business, business income and any questions you have.
  3. After reviewing your information, select Submit.

If you prefer, you can also call or email Diamond Business Loans to get the application process started.

What happens after I fill out the contact form?

Once you submit your information, a Diamond Business Loans representative will reach out to you — usually within one or two business days. From here, you’ll discuss your business needs and loan options, and if approved, have your loan funded within one to two weeks.

How do repayments work with Diamond Business Loans?

Diamond’s standard small business loans come with monthly repayments, but it isn’t specific on the repayment process. If you have questions about how you can make a payment, setting up automatic payments or your loan in general, don’t hesitate to reach out to a Diamond Business Loan representative.

Diamond Business Loans is one of the few lenders that has financing options for all types of businesses — including cannabis — but you should still compare more business loans before you make a final decision.

Frequently asked questions

Business loan ratings

★★★★★ Excellent
★★★★★ Good
★★★★★ Average
★★★★★ Subpar
★★★★★ Poor

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.

Read the full methodology of how we rate business loan providers to get a better picture of what goes into each star rating.

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

Diamond Business Loans is a good choice for businesses involved in cannabis, adult entertainment and other nontraditional industries — although any business may qualify. It offers both startup funding and loans for established businesses, and its interest rates are relatively competitive.

However, you can only borrow up to $150,000. And while its APR is low, there is a high origination fee attached to each loan.

Before you make a final decision on your funding, compare more business loans.

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  1. Default Gravatar
    August 28, 2018

    Hi do you have branches in Africa and if you have where

    • Avatarfinder Customer Care
      August 28, 2018

      Hi Godfrey,

      Thank you for reaching out to Finder.

      Diamond business loan provides nationwide service across US only. They don’t have any branches in Africa as of this time.
      If you are still looking to compare business loans, please use our comparison table to help you find the lender that suits you.

      Hope this helps.


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