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ForwardLine business loans review

Short-term funding with discounts for repeat borrowers — but it’s not transparent about costs.

  • Best for established businesses that often take out short-term loans.
  • Pick something else if you want to compare costs before preapproval.
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Min. Amount$5,000
Max. Amount$150,000
Loan Term6 to 15 months
RequirementsOwn your business for 2+ years, make $50,000+ in annual sales

ForwardLine is connecting borrowers with PPP funding

FowradLine has partnered with several PPP lenders to help connect you with a loan through this government-backed emergency loan program. If your business is struggling, you might also want to check out our guide to business financing during the COVID-19.

How much will this loan cost me?

ForwardLine isn’t upfront about the rates that it charges on its loans — often a sign that a lender’s rates are not competitive. To find out how much the loan might cost your business, you’ll need to prequalify by filling out a quick online form.

You can borrow up to $150,000 through ForwardLine — or more if you choose to get connected with a partner lender. And terms run from 6 months to 1.25 years. Use the calculator below to get an estimate of your monthly cost based on different rates, terms and loan amounts.

Business loan calculator

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How it works

Typically, small businesses can qualify for 10% of their annual revenue, up to $150,000. But if you borrow through a partner lender for a loan over $150,000, your loan amount might be based on other factors.

Your rate can vary depending on your industry and time in business. Generally, this means that riskier industries and newer businesses qualify for rates on the higher end.

What do I need to qualify?

Your business must meet the following criteria to qualify for a ForwardLine business loan.

  • At least two years in business
  • At least $50,000 in total annual sales

If you don’t meet ForwardLine’s requirements, you still might be able to find funding through its partner lenders.

What information do I need to apply?

Typically you need to provide basic information about yourself, your business and upload three months of business bank statements.

What industries does ForwardLine work with?

ForwardLine doesn’t disclose whether any industries are ineligible. But its high approval rate might indicate that some high-risk industries have an easier time qualifying.

Pros and cons

ForwardLine isn’t right for every small business. Weigh the benefits and drawbacks before you apply.


  • Lower rates for returning borrowers
  • Finding in as little as one business day
  • Earn $250 for referring a friend


  • Not transparent about costs
  • Only directly funds loans up to $150,000
  • Only offers short-term funding

See other top business loan options

Name Product Filter Values Loan amount APR Requirements

Fora Financial business loans
Finder Rating: 4.1 / 5: ★★★★★

Fora Financial business loans
$5,000 – $500,000
6+ months in business, $12,000+ monthly revenue, no open bankruptcies
Get qualified for funding in minutes for up to $500,000 without affecting your credit score. Best for companies with at least six figures in annual revenue.

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.

OnDeck short-term loans
Finder Rating: 4.6 / 5: ★★★★★

OnDeck short-term loans
$5,000 – $250,000
As low as 35%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.

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.

Compare up to 4 providers

Is ForwardLine legit?

Yes, ForwardLine is a legitimate online lender. It uses SSL encryption to protect the information you submit online. And you can read about how it collects and uses your information by reading its privacy policy.

However, it appears to take advantage of some loopholes to get around lending laws — another sign that its rates could be high. While it funds its loans directly in some states, in others they’re issued by Wise Bank, a Utah-chartered bank. Sometimes lenders use this tactic to get around regulations like maximum interest rates.

ForwardLine reviews and complaints

BBB accredited Yes
BBB rating A+
BBB customer reviews 1.8 out of 5 stars, based on 6 customer reviews
BBB customer complaints 7 customer complaints
Trustpilot Score 4.3 out of 5 stars, based on 197 customer reviews
Customer reviews verified as of 12 June 2020

ForwardLine gets mostly positive online reviews from customers. Many highlight its customer service, often calling out the person they worked with by name. And 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. However, there are many negative reviews on how ForwardLine handled loans during the COVID-19 pandemic, including how borrowers felt misled about payment relief options offered by ForwardLine’s customer service team.

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.

What happens after I apply?

ForwardLine might reach out to you and have you 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.

How do repayments work?

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? Read our business loans guide to compare more lenders and learn the ins and outs of how the whole process works.

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

ForwardLine is an online lender that specializes in short-term business loans to businesses that have been around for a few years. It could be a good deal for businesses that often rely on short-term financing. It offers lower rates to returning customers — and $250 cash back for those that refer another business.

It claims to have a high approval rate and the ability to find ways to work with businesses during an economic downturn. But it’s not transparent about the costs. If you want to know what you’re getting into before preapproval, consider another lender that’s more upfront about rates and fees.

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