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finder.com’s rating: 4.1 / 5.0
★★★★★
Established business owners looking for a non-bank loan or line of credit might want to check out Finance Factory. This online connection service helps you find the right type of financing for your business from one of its partner lenders. It can take a couple weeks to get your funds, however, so it’s not ideal for emergency expenses.
$25,000
Min. Amount
$250,000
Max. Amount
Product Name | Finance Factory business loans |
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Min. Amount | $25,000 |
Max. Amount | $250,000 |
Loan Term | 2 and 5 years |
Min. Credit Score | 700 |
APR | 7.99% to 24.99% |
Requirements | Good to excellent personal credit, steady cash flow, two years in business |
Finance Factory’s partners typically require you and your business to meet the following requirements:
Finance Factory is a loan connection service that helps business owners find financing. Through its business express program, a specialist can help you find a lender that’s right for you and walk you through the entire process to funding.
Its partner lenders offer loans or lines of credit between $25,000 and $250,000 with fixed APRs ranging from 7.99% to 24.99%. Terms vary by lender, but businesses typically have between 2 years and 5 years to pay it back.Finance Factory doesn’t charge any fees for its services, and most of its providers don’t charge application or origination fees for a business express loan. Most loans though Finance Factory are unsecured, so you won’t need to provide collateral.
There are also no fees for using Finance Factory’s services, and its partner lenders usually don’t charge application or origination fees.
In addition to the business express program, Finance Factory also has several other business loan programs. These include:
BBB accredited | Yes |
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BBB rating | A+ |
BBB customer reviews | 4.64 out of 5 stars, based on 11 customer reviews |
BBB customer complaints | 1 customer complaints |
Customer reviews verified as of | 12 October 2020 |
Finance Factory has mostly positive online reviews. Customers are most pleased with the quality of customer service, calling its team responsive, professional and helpful. Only two weren’t happy with their experience, both complaining about how long the process took.
Finance Factory doesn’t have a Trustpilot page, but it’s won a spot on LendingTree’s top three list for customer satisfaction in 2016 and 2017.
You can get prequalified with Finance Factory through its site. Since it’s a connection service, you don’t necessarily need to have any documents on hand. But make sure you meet the basic eligibility requirements.
Some lenders might have additional requirements, like a minimum annual revenue.
Finance Factory’s funding specialists work with business owners throughout the entire process. Typically, it takes one to two weeks from start to finish.
While document requirements vary by lender and the specific circumstances of each business, you might be asked to provide:
Your relationship with Finance Factory ends once you get your loan from the lender. Once your business has its funds, you’ll start making payments directly to the provider you borrowed from. If it’s an option, consider signing up for autopay. That way, you won’t have to worry about taking the time out of your work schedule to pay off your loan each month.
If you have any questions about your loan or concerns about paying it back, reach out to your lender’s customer service team as soon as possible.
Finance Factory could be a great service for established business owners who don’t have the time or experience to find the financing their business needs. It’s free to use and gets great customer reviews. But the turnaround time might be too long for owners who need funds as soon as possible.
To learn more about your business loan options and start comparing providers, check out our business loans guide.
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.