Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

FastPay review: Invoice financing for digital media companies

Upload your unpaid business invoices to get an advance of up to 70% on what you’re owed.

Traditional business loans can be slow and costly, ultimately hurting your bottom line. FastPay is a quick way to get the working capital you need for your digital media business until your invoices are paid.

No reviews yet. Write a review

Details

Min. Amount$5,000
Max. Amount$100,000
RequirementsMust have a company in the digital media industry.

Do I qualify?

You must have a business in the digital media industry to be eligible for a FastPay business loan. If you don’t have a business in the digital media industry, you can compare other business loans that can serve your industry.

What is FastPay?

Founded in 2009, FastPay provides efficient financial solutions to online publishers, marketing agencies and other digital media companies. It offers a streamlined loan application through its FastLane process and can advance you 70% of your requested funding within 2 business days. A 3.00% monthly fee is charged on your balance. Once your invoices are paid by clients, FastPay collects the original 70% of your loan plus the fee.

What makes FastPay business loans unique?

FastPay offers business loans for digital media companies that rely on invoices to operate. With FastLane by FastPay business loans, you don’t have to let an unpaid invoice impede your operations. It works as a credit line so you can get the funding you need without having to resort to outside investors.

What are the benefits of FastPay business loans?

  • Simple application process. Upload your company’s financial information and bank credentials to get started.
  • Quick turnaround. Get your funds within 2 business days of uploading your invoices.
  • Repay only when your invoice is paid. Pay once your original invoice is completed, with no late payment fees or penalties.

What to watch out for

FastPay offers a flexible and efficient service, but only to a niche market and with arguably high rates. Consider the following before applying for a loan with FastPay:

  • High interest rate. A 3% monthly fee can quickly add up, totaling more than $1,200 on a $10,000 loan after 120 days.
  • Niche market. FastPay primarily services ad networks, adtech companies and app developers. If you’re not in one of these industries, you’ll need to look elsewhere for business funding.
  • Limited operations. FastPay has only three US offices, so customer support may be limited.

Compare a variety of financing options for your business

Name Product Filter Values Loan amount APR Requirements

Lendio business loans
Finder Rating: 4.75 / 5: ★★★★★

Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.

National Funding business loans
Finder Rating: 4.75 / 5: ★★★★★

National Funding business loans
$5,000 – $500,000
4% to 8%
Be in business at least one year and make at least $150,000 in annual sales. Other loan types have additional requirements.
Working capital loans and equipment financing, some high-risk industries may be eligible.

Fundbox lines of credit
Finder Rating: 4.2 / 5: ★★★★★

Fundbox lines of credit
$1,000 – $150,000
Not stated
6 + months in business, $100,000+ in annual revenue, 600+ credit score
Get flat rate, short-term financing based on the financial health of your business, not your credit score.

Bitty Advance business cash advances
Finder Rating: 2.8 / 5: ★★★★★

Bitty Advance business cash advances
$2,000 – $25,000
Not applicable
$5,000 monthly bank revenue, 6+ months in business, business bank account open 3+ months, 450+ credit score
With APRs in the triple digits, this is best saved as a last resort.
loading

Compare up to 4 providers

Am I eligible for a FastPay business loan?

You must have a business in the digital media industry to be eligible for a FastLane by FastPay business loan.

To apply for a loan, you need only to have accounts receivables that FastPay can review. There are no financial requirements — you don’t even need a personal guarantee. And new businesses are encouraged to apply.

How do I apply for a FastPay business loan?

Gather your financial and bank account information, including the business invoice you’re using for your loan. Then click the “Go to site” button on this page to go to FastPay’s online application. You should be able to complete the online form in just a few minutes. Most borrowers see their funds within As soon as 2 business days.

I got my FastPay business loan. Now what?

Once you’ve been approved, it’s time to send your invoices. You’ll receive 70% of the requested amount, usually within 48 hours. From there you’ll need to pay back the funded amount plus interest once your customers pay the invoices.

It’s important to pay off your loan as soon as possible. To minimize your interest payments, repay your loan as soon as you’ve received payment from your clients.

Bottom line

A FastLane by FastPay business loan could be a funding option for your digital media company if you’re strapped for cash but awash in unfulfilled invoices. FastPay loans come with a monthly fee of 3%, but you won’t be subject to late fees or any other hidden fees.

If your business falls outside of FastPay’s eligibility, compare your options to find a business loan that works best for your needs.

Frequently asked questions

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
Go to site