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Forwardline business loans review

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Get up to $500,000 in short-term financing in as little as one business day.

When your business needs money for an emergency, time is of the essence. Forwardline’s short-term business loans can get you the funds you need as soon as the next business day. With minimal requirements and documentation, plus more benefits than your average short-term lender, you might want to take a closer look at this lender if your business is in need of quick cash. It might not be the least expensive option out there, however, and it’s not for new businesses. Read on to learn how Forwardline’s short-term loans can help your business.


Min. Amount


Max. Amount


Product NameForwardline business loans
Min. Amount$5,000
Max. Amount$500,000
Loan Term6 to 18 months
RequirementsOwn your business for 1+ year and make $100,000 in annual sales.

What makes Forwardline short-term business loans unique?

Forwardline short-term business loans come with a lot of benefits that you don’t normally find with a short-term lender. While your credit score affects the size of your loan’s fee, you don’t need to have good — or even fair — credit to qualify.

And although it doesn’t charge interest, Forwardline offers up to a 25% discount on your fee for paying off your loan early. It also has a best price guarantee, meaning that it’ll either meet or beat other short-term business loan offers — or give your business $100.

Know any other business owners that might be looking for short-term financing? Through its referral rewards program, your business can receive a $250 gift card — and your friend will get a $100 gift card as well.

What’s a Forwardline short-term business loan?

Forwardline’s short-term loans are a quick source of funds for businesses with emergency costs. Your business can borrow between $5,000 and $500,000 and get your funds within one business day of applying. Short-term loans come with a flat fee rather than interest that’s added to your loan amount.

Your business has a short amount of time to repay your loan: between 0.5 years and 1.5 years in daily or weekly repayments. Short-term business loans are typically more expensive than loans with longer terms, and Forwardline is no exception. It’s designed to be a last-minute solution when other sources of financing can’t come through.

Forwardline medium-term business loans

For slightly larger expenses, lower rates and longer terms, Forwardline offers medium-term business loans. The range of loan amounts are the same, but your business can take up to five years to pay it off. Rather than a fixed fee, these loans come with a fixed interest rate and are typically less expensive than a short-term loan. Repayments are monthly, rather than daily or weekly.

Medium-term business loans aren’t for people in a rush. The turnaround time is slightly longer, you’ll need good to excellent credit to get approved and the underwriting team typically asks for more documentation. Your business might need to be around longer and have stronger sales than a short-term loan requires.

What are the benefits of a Forwardline business loan?

  • Discount for early repayment. Your business could get up to a 25% discount for paying off your business loan ahead of schedule.
  • Best price guarantee. Forwardline will match or beat any competition offering a more competitive rate on a similar loan. And if it can’t, your business gets $100.
  • Good credit not required. Your personal credit score doesn’t factor into whether or not your business can get approved for this loan. It will affect your loan’s cost, however.
  • Fast turnaround. It only takes a few minutes to fill out the online application, and your business can get funds in as soon as the next business day.

What to watch out for

  • Daily or weekly repayments. Repayments this frequent can be difficult to afford unless your business has a very steady cash flow.
  • Good credit required for low-cost loan. While you might not need a good credit score to qualify, these loans can be expensive if you don’t have good or excellent credit.
  • Not forthcoming about cost. Forwardline doesn’t advertise its loan costs online, and the customer service representative wouldn’t give us a range when we spoke on the phone.

Compare more providers

Updated October 18th, 2019
Name Product Filter Values Min. Amount Max. Amount Requirements
Annual business revenue of at least $42,000, at least 9 months in business, personal credit score of 550+.
Customizable loans with no origination fee for business owners in a hurry.
6+ months in business, $100,000+ annual revenue, 600+ credit score, not based in North Dakota or South Dakota
Get a predictable business loan with a fixed weekly rate.
2+ years in business, 620+ credit score, not a sole proprietorship or nonprofit, strong financial history
Financing for high-risk industries with transparent rates and terms.
600+ personal credit score, 1+ years in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Your company must have been in business for at least 6 months and have an annual revenue of at least $100,000.
Get a large business loan to cover your financing needs, no matter what the purpose is. Startups welcome with 680+ credit score.
1+ years in business, $50,000+ annual revenue or $4,200+ monthly revenue over last 3 months
A simple, convenient online application could securely get the funds you need to grow your business.
Must operate a business in the US or Canada, have a business bank account and have a personal credit score of 560+.
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
Credit score of 500+, legal US resident and ages 18+.
Use this connection service to get paired with a loan you can use for business.

Compare up to 4 providers

What do customers say about Forwardline?

Forwardline only has a few mixed online reviews from customers. While it’s accredited by the Better Business Bureau (BBB) and gets an A+ rating as of July 2018, two out of its three customer reviews are negative. The BBB bases ratings on factors like transparency in advertising and how a business handles customer complaints, not customer reviews.

It does slightly better on Trustpilot, scoring an 8.4 out of 10 based on over 150 reviews. Customers highlight its customer service, often calling out the person they worked with by name. Many were also pleased with how fast and easy the process of applying for a loan and getting funds was. The few complaints generally involve the loan’s cost — some customers felt they weren’t properly informed until after they got the loan.

Am I eligible?

To qualify for a Forwardline short-term loan, your business must:

  • Be at least one year old. You’ll also need to be the business owner for a year as well.
  • Generate at least $100,000 in annual sales. The higher your annual revenue, the more funds you can qualify for.

Forwardline doesn’t have a minimum credit score to qualify for a loan, but it does consider your score when determining your fee.

How do I apply?

You can start your application online or over the phone — it only takes a few minutes either way. Call 866-729-5766 to get started on an application by phone. Or, follow these steps to apply online:

  1. Go to Forwardline’s website and click Apply Now in the top right-hand corner.
  2. Enter your time in business, amount you want to borrow, estimated revenue and industry before hitting continue.
  3. Follow the directions to enter information about your business and your company, hitting Continue to move on to the next step and Get My Results to submit your application.
  4. Review the loan options you’re qualified for and select the one that works best for your business.
  5. Follow the directions to provide more information if necessary and submit documents before signing your promissory note.

You should receive your funds in as little as one business day after everything is complete.

Step-by-step screenshots

What documents do I need to apply?

For the short-term loan, Forwardline only asks to see three months of business bank statements. It uses this to get an idea of your business’s cash flow and to make sure that you can afford to repay the loan amount you’re applying for.

I got the Forwardline short-term business loan. Now what?

Once you have your funds, repayments start relatively quickly — remember, they’re daily or weekly repayments, not monthly. Forwardline requires your business to enroll in automatic repayments, so you don’t need to worry about manually paying every time.

Take note of your business bank account and your loan balance. Reach out to customer service if you have any cashflow problems that could get in the way of making a repayment or have any questions about your loan.

Bottom line

A Forwardline short-term loan can be a quick solution to a financing emergency, but it’s not designed to cover long-term costs. Its best price guarantee and early repayment discount make it a worthy contender when it comes to this kind of loan. And you don’t need good credit to qualify — though you’ll end up paying more.

Interested in seeing how Forwardline stacks up? Visit our business loans guide to compare more lenders and learn how it all works.

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