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LoanBuilder, a PayPal service business loans review

Short-term loans, but with a potentially high APR.

Bottom line: Loanbuilder may be a good option for fair credit borrowers running a new business, but pick something else if you have good credit and can get better rates and terms.

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Min. Amount


Max. Amount

Not stated



Min. Amount$5,000
Max. Amount$100,000
Loan term3.25 to 12 months
Min. Credit Score580
APRNot stated
Financing fee6.49% to 19.31%
RequirementsAnnual business revenue of $33,300+, 9+ months in business, 580+ personal credit score

Review by

Anna Serio is a lead editor at Finder, specializing in consumer and business financing. A trusted lending expert and former certified commercial loan officer, Anna's written and edited more than 1,000 articles on Finder to help Americans strengthen their financial literacy. Her expertise and analysis on personal, student, business and car loans has been featured in publications like Business Insider, CNBC and Nasdaq, and has appeared on NBC and KADN. Anna holds an MA in Middle Eastern studies from the American University of Beirut and a BA in Creative Writing from Macaulay Honors College at Hunter College, CUNY.

Expert review

LoanBuilder, A PayPal Service earns high praise from borrowers who rate it as an efficient way to get quick funding for their business. Unlike banks or other online lenders, you and your business won’t need to meet strict eligibility criteria to qualify. You’ll only pay one fee for borrowing, and your business may be eligible for up to $500,000. And you may even be able to receive your funds on the same day you apply — provided all your documents are in order.

But some borrowers have complained the one-time fee results in a high APR. Weekly repayments could also throw a wrench in your business’s budget, especially if you hit a period with limited cash flow. If you decide to borrow, be sure your business can handle the quick repayment schedule LoanBuilder demands.

LoanBuilder may be a top option, but you should also compare your other business loan options to ensure you find the right funding that suits your business.

WATCH: Our 1-minute take

How much will this loan cost me?

LoanBuilder offers business loans between $5,000 to $100,000 for first-time borrowers, and up to $150,000 for repeat borrowers. Terms range from a short 13 weeks up to one year.

But instead of charging interest on your business loan, LoanBuilder charges a fixed fee of 6.49% to 19.31%, which it calls the Total Loan Fee. For example, on a $100,000 loan with LoanBuilder's minimum term of 13 weeks, this translates to a hefty APR of 44.57% to 131.75%.

On the plus side, there are no origination, application or prepayment fees with LoanBuilder and it may be willing to waive its returned item fee if you alert them your payment will be late. However, the entire Total Loan Fee will be due when you repay — even if you pay your loan on schedule or pay it off early.

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How it works

LoanBuilder will evaluate your business’s overall financial situation and history when you submit an application. At a minimum, you must show that you've been in business for at least nine months and that your business is earning a minimum $33,300 a year.

If your business qualifies, the amount you get will depend on how you plan to use your loan funds and your revenue. The better you can afford weekly repayments, the more likely your business will be approved. Your personal credit and previous borrowing history with LoanBuilder may also improve your chances.

The LoanBuilder Configurator allows you to have more control when seeking the funding you need without affecting your credit score. If your business prequalifies, use this tool to adjust your loan offer to find terms that might better fit your business’s financial situation.

What do I need to qualify?

You and your business must meet the following requirements to be eligible for a loan with LoanBuilder:

  • Personal FICO score of at least 580
  • At least $33,300 in annual revenue
  • In business for at least nine months

What information do I need to apply?

To complete the LoanBuilder application, you'll need to provide the following information:

  • Total annual revenue
  • Business start date
  • Owner’s Social Security number
  • Business Tax ID number

You may also be required to submit four months of your most recent bank statements or additional documents if you're conditionally approved for a loan.

What industries does LoanBuilder work with?

Your business won’t qualify if it falls into one of these industries:

  • Agencies for artists, athletes, entertainers and other public figures
  • Public administration
  • Attorneys
  • Business and professional associations
  • Civic and social organizations
  • Collection agencies
  • Grant-making foundations
  • Credit bureaus
  • Elementary schools, secondary schools and junior colleges
  • Environmental, conservation and wildlife organizations
  • Financial services
  • Gambling and related businesses
  • Gun stores
  • Holding companies
  • Management companies
  • Human rights organizations
  • Independent writers, artists and performers
  • Labor and political organizations
  • Manufactured home dealers
  • New and used car, ATV, RV, watercraft, boat and motorcycle dealerships
  • Nonprofits
  • Religious organizations
  • Voluntary health organizations


  • No interest, origination fees or prepayment penalties
  • Next-day turnaround available
  • Available in all 50 states and Washington, DC


  • Requires weekly repayments
  • High fees ranging from 6.49%
  • Extremely short loan term

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Prequalify with this lending marketplace using an easy application process. Plus, work with real loan experts to make the best decisions on loan programs for ERC, SBA, e-commerce, cannabis and other loan categories.

How legit is LoanBuilder?

LoanBuilder is a legit lender backed by PayPal, financed by WebBank and serviced by Swift Financial. It has a clear privacy policy that includes information on how your personal information is collected and how you can opt out. Its website is secure, and while LoanBuilder doesn’t state the exact method it uses to keep your information safe, it does state that it takes reasonable measures — which includes SSL encryption.

LoanBuilder reviews and complaints

BBB accredited No
BBB rating A+
BBB customer reviews 1 out of 5 stars, based on 1 customer reviews
BBB customer complaints 20 customer complaints
Trustpilot Score 4.6 out of 5 stars, based on 5,339 customer reviews
Customer reviews verified as of 08 July 2022

LoanBuilder — which is serviced by Swift Financial and is listed as Swift Financial on the BBB and Trustpilot websites — gets overwhelmingly positive reviews on Trustpilot, although many recent reviews are negative. And while it doesn’t have many recent customer reviews listed on its BBB page, four customers have registered complaints with the BBB in the past year.

Satisfied customers mention the "easy" application process and fast funding times. One customer expressed surprise at how willing LoanBuilder was to temporarily pause payments and offer a lower rate when the customer was experiencing financial hardship.

Less happy customers report problems with their applications, poor customer service and long hold times on the phone.

How the application works

Here are the steps to get prequalified and apply for a LoanBuilder business loan.

  1. Visit LoanBuilder’s website and select Check eligibility.
  2. Provide information such as your business name, contact details, the loan purpose, your business revenue, Social Security number and Federal Tax ID to see if your business is eligible.
  3. If you wish to move ahead with a loan, upload additional information, if requested, to complete the application.
  4. Sign the contract electronically and wait for your funds to be disbursed, which should take about one business day.

What happens after I apply?

It may take up to five minutes for your application to process. If approved, you may be able to receive your funds the next business day — provided your application and supporting documentation are submitted before 5 p.m. ET on a weekday. Otherwise, it could take a few days to receive your funds.

What should I do if my business is declined?

If you aren’t approved for a business loan, LoanBuilder will send you an email within two days with details on why it wasn’t able to fund your loan. From there, you can apply again after a 30-day waiting period or consider applying with a different lender.

How do repayments work with LoanBuilder?

LoanBuilder automatically deducts repayments from your business checking account every week, so avoid moving around money in a way that might leave your account short. And while you can’t change the weekly repayment schedule, you can change the day of the week LoanBuilder deducts your funds. So when cash flow fluctuates, you still have control over when you repay — helping you avoid its $20 NSF fee.

If you notice any inconsistencies or have trouble repaying your loan, reach out to LoanBuilder’s customer service team. It may be able to work with you to make your loan more affordable.

See how LoanBuilder stacks up to the competition with our guide to business loans.

Frequently asked questions

Do I need a PayPal account to get a LoanBuilder business loan?

No, but you must have a business checking account so that LoanBuilder can disburse your funds and draw repayments.

How will applying for a LoanBuilder business loan affect my credit?

Completing the questionnaire will assess your business’s eligibility, allow you to review estimated offers if eligible and will not affect your credit score. If you decide to complete the loan application process, credit checks and other public record checks will be performed, which may affect your credit score.

All LoanBuilder Loans are serviced by Swift Financial, LLC and issued by WebBank, Member FDIC.

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