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QuickBridge small business loans review

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Nontraditional unsecured financing based on your business's cash flow.

  • Best for high-risk industries or business owners with bad credit.
  • Pick something else if you can qualify for a traditional business loan.

$500,000

Max. Amount

Details

Product NameQuickBridge small business loans
Max. Amount$500,000
Loan TermUp to 120 months
Min. Credit Score500
Requirements500+ personal credit score, $5,000+ bank account deposits in last 3 months

Expert review

Anna Serio

Review by


Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 950 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

QuickBridge is an alternative lender that works with a wide range of industries, from trucking to real estate. It opened its doors in 2011 with the purpose of providing funding to business owners that typically can’t qualify for financing from traditional sources due to their industry or creditworthiness. It offers a wide range of financing, though it specializes in unsecured business term loans, especially short-term business financing.

QuickBridge small business loans don’t come with interest, so how long you take to pay it off doesn’t affect your loan’s cost. Its emphasis on your business’s cash flow also means that your loan amount is tailored to what you can afford to borrow and repay. While it can be pricier than other types of financing, it’s competitive compared to other short-term unsecured business loans that charge on-the-dollar fees.

How much will this loan cost me?

QuickBridge business loans come with a fixed fee instead of interest. This fee typically ranges from between 10 and 20 cents for every dollar borrowed — though we weren’t able to confirm these numbers when we reached out in June 2020. You can borrow up to $500,000, with terms as long as 10 years.

Based on the lowest fee and longest term, these loans come with a starting cost equivalent to an APR that starts around 2%.

How it works

Loans that come with a flat fee instead of interest typically wrap the cost into your balance, rather than charging the fee upfront. Since there is no interest, going for a longer term can lower your repayments without making your loan more expensive. QuickBridge also offers a discount on the fee for repaying the loan early.

With QuickBridge, your loan amount, rates and terms are generally based on your business’s cash flow rather than other traditional factors like industry or time in business. The more money your business brings in each month, the lower the fee and higher the loan amount your business can qualify for.

What do I need to qualify?

To qualify for a QuickBridge business loan, you generally must meet the following requirements:

  • At least $5,000 in deposits to your business bank account over three months
  • A credit score of 500 or higher

However, we were unable to confirm if these requirements still apply when we reached out in June 2020.

What information do I need to apply?

Have the following information on hand before you start the application.

  • Business and personal contact information
  • Gross annual revenue
  • Time in business
  • Social Security number

Most businesses only need to submit a state-issued ID and three months of its most recent bank statements along with the completed application.

What industries does QuickBridge work with?

QuickBridge works with a wide range of industries — even some that traditional lenders might consider high risk. It has special lending programs for the following industries, which might struggle to find funding elsewhere:

  • Construction and contracting
  • Farming
  • Food services
  • Health and wellness
  • Food services
  • Business services
  • Transportation and auto repair services

Pros and cons

QuickBridge could be a good choice if your business has struggled to get funding. Here are the benefits and drawbacks to consider.

Pros

  • Low cost for an alternative lender
  • Accepts credit scores starting at 500
  • High-risk industries accepted
  • Prepayment discount

Cons

  • May be more expensive than a traditional loan
  • Potential daily or weekly repayments
  • Not transparent about costs online

See more business loan providers

Data indicated here is updated regularly
Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
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.
ROK Financial business loans
$10,000 – $5,000,000
Varies
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK
Fundbox business loans
$1,000 – $100,000
4.99
You must have an established business.
Get flat rate, short-term financing based on the financial health of your business, not your credit score.
Kickpay e-commerce business loans
$20,000 – $1,000,000
Not applicable
At least $250,000 in the past 12 months of revenue, e-commerce business, use a 3rd party fulfillment center for storing and shipping inventory, at least one US location.
Get a loan for your e-commerce business based on your sales history.
Fundera business loans
$2,500 – $5,000,000
7% to 30%
$300,000+ of annual revenue, 680+ personal credit score, in business for 3+ years
Get connected with short-term funding, SBA loans, lines of credit and more.
LendingClub business loans
$5,000 – $500,000
12.15% to 29.97%
12+ months in business, $50,000+ in annual sales, no bankruptcies or tax liens, at least 20% ownership of the business, fair personal credit score or better
With loan terms that vary from 12 to 60 months, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.
Monevo business loans
$500 – $100,000
3.99% to 35.99%
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.
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Is QuickBridge legit?

QuickBridge is legit in that it has a privacy policy and is a licensed lender in California. It also uses Norton Security to protect the information you enter on its online application.

But it lacks transparency, which can be a red flag. QuickBridge doesn’t give many specifics about its loans on its site. And its customer service team is generally hesitant to reveal basic information to make an informed comparison — like general ranges for loan amounts, terms and costs.

Does QuickBridge get good customer reviews?

BBB accredited Yes
BBB rating A+
BBB customer reviews 1.6 out of 5 stars, based on 9 customer reviews
Trustpilot Score 4.6 out of 5 stars, based on 256 customer reviews
Customer reviews verified as of 30 June 2020

QuickBridge has relatively positive online reviews. Customers are particularly happy with the quality of customer service, with many mentioning representatives by name. Some are also pleased with how quick and painless the application process was.

However, a few customers had a bumpier road getting approved and several mention that the cost was higher than they expected.

How do I apply?

You can start your application online or over the phone by calling 888-233-9085. Make sure you have basic information about your business and its financials before you begin. Here’s how to apply online:

  1. Go to the QuickBridge site and click Apply now.
  2. Fill out a quick form with your name and hit Next.
  3. Fill in your business’s address, time in business and annual gross sales. Click Next again.
  4. At this point, you should be directed to the business loan application. You should see the name and contact information for a funding advisor that you can reach out to if you have any questions.
  5. Fill in your home address and any other incomplete fields.
  6. Review the application. Then sign it and submit your email address. Hit Click to sign.

What happens after I apply?

After you submit the application, wait for a funding adviser to get in touch with you — typically within an hour, or sometimes up to 24 hours later. You’ll discuss your options and pick a loan amount, term and payment plan based on the program you qualify for.

Follow the funding adviser’s directions to submit your business’s documentation before you review and sign your loan documents. After you submit the completed application, the funds will be deposited into your business’s bank account. This usually takes one to two business days.

How do repayments work?

How you repay your loan depends on what type of plan your business qualifies for. Some businesses might qualify for monthly repayments, while others might have to make weekly or even daily repayments.

Consider signing up for automatic repayments if possible. This way you won’t have to take time out of your work schedule to make manual repayments when they’re due.

Watch your business’s bank account and your loan balance to make sure there are no errors. If you see something that doesn’t make sense or have any other questions about your loan, reach out to customer service as soon as you can.

You can read our business loans guide to see how QuickBridge compares to other lenders. Or, check out our guide to alternative business loans.

Frequently asked questions

Imgage source: quickbridge.com

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