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finder.com’s rating: 4.0 / 5.0
★★★★★
$10,000
Min. Amount
$150,000
Max. Amount
Product Name | Guidant Financial business loans |
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Min. Amount | $10,000 |
Max. Amount | $150,000 |
Min. Credit Score | 690 |
APR | 12% to 18% |
Requirements | 690+ credit score, less than 50% credit utilization ratio, few credit inquires, no recent negative lines on credit report |
To be eligible for an unsecured business loan from Guidant Financial, your business must have:
Guidant Financial connects entrepreneurs and small businesses with one of the 3,600 lenders and banks in its network. Its unsecured business loans are revolving lines of credit that work a lot like a credit card. This means that they don’t require collateral, you have access to your funds as long as you need it and you repay your balance in monthly repayments.
Credit limits start at $10,000 and go as high as $150,000. If your business qualifies for a 0% introductory rate, you won’t have to pay interest on the balance during the first 12 to 18 months of the loan. After that, interest rates range from 12% to 18%.
While you can start to fill out the form to get connected with a lender on its website, the majority of it takes place over email and the phone, which can be less secure. After you complete its online form, your business can get an offer within 48 hours. After that, it can take between three and four weeks to get your funds.
These unsecured business loans are much closer to a credit card than your typical line of credit. Instead of having your funds turn into a term loan each time you make a withdrawal, the amount is added to your business’s balance. Like with a credit card, your business won’t have fixed installment repayments but minimum monthly repayments — making it more flexible in emergencies.
Aside from the fact that you won’t have plastic on hand, the main difference between this loan and a credit card are the interest rates. Even Guidant’s highest rate is lower than what a lot of business credit card companies offer. It’s also a fixed rate, so it stays the same during the life of your loan.
BBB accredited | Yes |
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BBB rating | A+ |
BBB customer reviews | 2 out of 5 stars, based on 1 customer reviews |
BBB customer complaints | 8 customer complaints |
Customer reviews verified as of | 12 October 2019 |
Guidant Financial doesn't have many reviews, making it difficult to judge the quality of its loans and customer service. While it receives an A+ rating from the BBB, its customer reviews are negative — and its lack of recent reviews and complaints means you can't rely on others' experience to determine if it's a good fit for your business.
You must meet these guidelines to qualify for a Guidant Financial unsecured business loan:
You can get started either online or over the phone by calling 888-472-4455. To prequalify online, fill out a general form for all types of business financing.
From here, a dedicated financing representative guides you through the rest of the process. Prequalifying for specific rates can take 48 hours. After you sign your loan documents, it can take three or four weeks to get your funds.
Typically, Guidant Financial only asks you to submit a copy of your personal credit report. You can get your credit report online for free from the three major credit bureaus. If Guidant requires any other documentation, your dedicated financing contact should let you know.
Unsecured business loans aren’t Guidant Financial’s only business financing product. Your business can also prequalify for the following types of business and startup funding:
Your business can start drawing from its line of credit whenever it wants to cover startup or ongoing business costs. To save on interest, pay off as much of your balance as possible each month or before the introductory period ends.
Keep close tabs on your account to make sure you’re being charged correctly and your payments are going through — sometimes even machines make mistakes. If you notice an error or have any questions, reach out to your lender.
Guidant Financial’s unsecured business loan could be a good resource for entrepreneurs looking for startup financing. It could also be helpful to small businesses struggling with cashflow gaps. Approval is entirely based on the business owner’s or entrepreneur’s personal finances, so you don’t need to meet monthly revenue requirements or even be in business yet. However, you’ll need good to excellent credit and an otherwise strong credit history to qualify.
Not ready to get connected with a lender just yet? Check out our business loans guide. We explain your different financing options and let you start comparing lenders that your business might qualify with. Entrepreneurs might also want to look at our guide to funding a startup.
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.