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LoanBuilder, A PayPal Service business loans review

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Customizable loans with no origination fee for business owners in a hurry.

With LoanBuilder, A PayPal Service, you can get financing in as fast as a day. But the weekly repayments and personal guarantee might make it a costly choice. Weigh the pros against the costs of borrowing to ensure it’s the right move for your business.


Min. Amount


Max. Amount


Product NameLoanBuilder, A PayPal Service Business Loans
Min. Amount$5,000
Max. Amount$500,000
Loan Term3.25 months to 1 year
RequirementsAnnual business revenue of at least $42,000, at least 9 months in business, personal credit score of 550+.

Expert review

Anna Serio

Review by

Anna Serio is a trusted loans expert who's published more than 800 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 Fundera,, and ValueWalk feature her professional advice, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

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

What is LoanBuilder?

A PayPal service as of November 2017, LoanBuilder specializes in short-term lending to midsize businesses. Business owners can apply for its term loans to cover almost any legitimate business purpose, and it’s fast: You can apply online and may be able to get your loan as soon as the next business day.

LoanBuilder business loans are financed by WebBank, Member FDIC.

Why should I consider LoanBuilder?

There are several reasons to consider a business loan from LoanBuilder. Its midrange loan amounts and minimal eligibility criteria go a long way to making it a solid choice, and other features simply sweeten the deal.

Open to recent startups with minimal annual income

Unlike many banks and other online lenders that require you to have been in business for at least two years, LoanBuilder accepts borrowers who have only been in business for nine months. And you won’t have to have a huge revenue stream to qualify. Provided your annual revenue is at least $42,000 — compared to the $100,000 revenue criteria required by some lenders — you may be eligible to borrow.

Only one fixed fee

LoanBuilder charges a single borrowing fee that ranges from 6.49% to 19.31%. There are no origination, application or prepayment fees. However, the full borrowing fee will be due when you repay — no matter if you pay your loan off on schedule or months ahead of time. And if you don’t have enough in your business checking account to make your repayment, LoanBuilder may charge a nonsufficient funds (NSF) fee.

Available for businesses in most industries

Provided your business isn’t part of an ineligible industry, it may qualify for a loan. And since LoanBuilder is available in all 50 states and Washington, DC, you can borrow no matter where your business is based in the country.

Business owners can have a low FICO score

LoanBuilder accepts business owners with personal credit scores as low as 550. As long as your business meets the time-in-business and revenue requirements, it may still qualify. However, a lower score may impact the rate you get.

Next-day turnaround available

If you apply and submit all necessary documentation by 5 p.m. ET on a business day, LoanBuilder may be able to fund your loan the next business day. Compared to a few weeks with a bank or even a handful of business days with other short-term lenders, your business won’t have to wait to get the funding it needs.

High customer ratings

While it’s still listed as Swift Financial on Trustpilot, it earns high praise for efficient turnaround and good customer service. Reviewers on Reddit and MyFico aren’t fans of the weekly payments or high fee, but overall agree that the loan itself is quick and easy to qualify for.

Customize your loan

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

Does my business qualify?

Your business must meet the following requirements to be eligible for a loan with LoanBuilder:

  • Annual revenue of $42,000 or more
  • At least 9 months in business
  • In an eligible industry

In addition to these basic requirements, you must also have a personal FICO credit score of at least 550 to qualify.

What industries are ineligible for a loan from LoanBuilder?

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
  • Credit bureaus
  • Elementary schools, secondary schools and junior colleges
  • Environmental, conservation and wildlife organizations
  • Financial services
  • Gambling and related businesses
  • Grant-making foundations
  • 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 origination, application or stacking fees
  • Next-day turnaround available
  • Available in all 50 states
  • Customizable terms
  • Dedicated representative


  • Requires weekly repayments
  • Backed by a personal guarantee
  • Rates start high

Compare LoanBuilder to more business loan providers

Updated March 31st, 2020
Name Product Filter Values Min. Amount Max. Amount Requirements
First Down Funding business loans
Varies by type of loan
Alternative financing up to $300K with highly competitive rates.
Operate a business in the US or Canada, have a business bank account and have a personal credit score of 675+.
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
600+ personal credit score, 1+ years in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Kabbage Small Business Line of Credit
1+ years in business, $100,000+ 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.
650+ personal credit score, US citizen or permanent resident, 2+ years in business, $50,000+ annual revenue, no outstanding tax liens, no bankruptcies or foreclosures in past 3 years
Get funding for your small business with a government-backed loan and extended repayment terms.

Compare up to 4 providers

What do customers have to say about LoanBuilder?

LoanBuilder, A PayPal Service is a newer product so it hasn’t yet built an online reputation. And while you’ll find comprehensive reviews on financial forums like MyFico and Reddit, PayPal hasn’t rebranded the LoanBuilder pages on the Better Business Bureau (BBB) website or Trustpilot — you’ll still see it listed under Swift Financial.

That being said, its Trustpilot page has nearly 5,000 glowing reviews and a great rating of 4.9 out of 5 stars. The main draw? Customer service. The majority of reviewers agree LoanBuilder’s customer service team is professional, helpful and efficient. Many customers also praise LoanBuilder’s fast and easy process.

The main complaints revolve around high interest rates, with APRs over 20%. But even these more negative reviews still state that LoanBuilder provided a quick service with decent customer service.

How do I apply?

First make sure you meet the minimum eligibility requirements, which include: a personal credit score of at least 550, an annual business revenue of at least $42,000 and at least nine months in business.

If you do, you can complete your application online through the following five steps:

  1. Click ‘Go to site’ to be directed straight to LoanBuilder’s website.
  2. Click ‘Check Eligibility’ to start your application.
  3. Fill out the required personal and business information.
  4. Review the loan terms your business is eligible for and upload any required documents.

    Application screenshots

What information do I need to apply?

To complete the LoanBuilder application, you will need to submit the following information:

  • Business phone number and address
  • Total annual revenue
  • Business start date
  • Owner’s Social Security number
  • Business tax ID number

What happens after I apply?

It may take up to five minutes for your application to process. A representative will then be in contact with you to go over what documents you need to submit. You may be able to receive your funds the next business day if your application and supporting documentation is submitted before 5 p.m. ET on a weekday. Otherwise, it could take a few days to receive your funds.

How does LoanBuilder make an approval decision?

Your business’s overall financial situation will be evaluated when you submit an application. The exact amount your business qualifies for — if it qualifies at all — will depend on how you plan on using your loan funds and your revenue. The better able you are to afford weekly repayments and the better your individual credit, the more likely it is that your business will be approved.

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. From there, you can apply again after a 30-day waiting period.

How do repayments work with LoanBuilder?

LoanBuilder, A PayPal Service 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 NSF fees.

If you notice any inconsistencies or have trouble repaying your loan, contact LoanBuilder’s customer service team at 1-800-347-5626. It may be able to work with you to make your loan more affordable.

Bottom line

LoanBuilder, A PayPal Service could be a solid option for businesses that need fast financing but pull in enough revenue to afford weekly repayments. Businesses with unpredictable sales might want to look elsewhere, because the repayment schedule isn’t as forgiving as others.

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 collect loan repayments.

Will applying for a business loan from LoanBuilder 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. Should you decide to complete the loan application process, credit checks and other public record checks will be performed, which may affect your credit score.

How can I contact LoanBuilder’s customer service?

You can contact LoanBuilder’s customer service team by calling 800-347-5626 or emailing Representatives are available weekdays from 9 a.m. to 8 p.m. ET and Saturdays from 11 a.m. to 3 p.m. ET.

Can I change my payment date?

You can change the day of the week LoanBuilder will deduct funds from your bank account.

I received an offer in the mail. Is this legit?

Yes. LoanBuilder may mail some qualified business owners a special code to speed up the application process. To redeem your offer, visit LoanBuilder’s website and enter your funding code by selecting Did you receive mail from us? Click Here.

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

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