Rapid Finance business loans review

Rapid Finance rates, fees and terms

Rapid Finance doesn't disclose rates or fees before you prequalify. But similar short-term online lenders can charge rates and fees equivalent to APRs of 80% or even higher in some cases. Terms on its term loans range from 3 to 60 months.

Use our calculator to see how much a Rapid Finance loan might cost you each month at different loan amounts, rates and terms. Other products like merchant cash advances come with different rates fees and terms.

How Rapid Finance compares to other lenders

Here's how Rapid Finance stacks up to other online lenders that offer fast funding.

★★★★★

Finder Rating: 3.74 / 5

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Loan amount $5,000 to $1,000,000
APR Fee based
Loan term 3 to 60 months
Requirements Steady flow of credit card sales, bad credit OK

★★★★★

Finder Rating: 4.7 / 5

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Loan amount $10,000 to $5,000,000
APR Starting at 6%
Loan term 6 to 120 months
Requirements Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales

★★★★★

Finder Rating: 4.6 / 5

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Loan amount $5,000 to $250,000
APR Starting at 35%
Loan term 3 to 18 months
Requirements 600+ personal credit score, 1 year in business, $100,000+ annual revenue

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Rapid Finance reviews and complaints

Rapid Finance has mostly positive customer reviews and only a few complaints. Many cite the quality service they received from Rapid Finance as the reason for their positive rating. Some — though not all — also mention the fast turnaround time.

How to qualify

You and your business must meet these requirements to qualify for a Rapid Finance loan:

• Monthly revenue of $5,000 or more
• At least two years in business
• Personal credit score of at least 500
• US citizen

How the application works

You can get started by filling out a quick online form to get a free quote. Your quote should give you estimates of the loan cost, term and amount your business is eligible to borrow. If you're happy with your quote, you can work with a member of Rapid Finance's lending team to complete the application and make sure you get the right type of funding for your business.

After signing your loan documents, your funds can appear in your business's bank account as soon as the same day. Depending on your loan term, you'll repay the balance plus interest and fees in monthly, weekly or daily installments.

What sets it apart

Unlike traditional financial institutions, Rapid Finance offers more flexibility in its application and funding. It looks at the overall health of your business — not just your credit score — to give you easier access to the funding you need.

It also speeds up the often prolonged in-person application process you’ll find at your local bank. With Rapid Finance, applying for funding takes place entirely online, and you could see your money in As fast as one business day after approval.

Frequently asked questions

Answers to common questions about this online lender.

Will applying with Rapid Finance affect my credit?

It could. To assess your application, Rapid Finance performs a hard credit pull of your credit history. Hard pulls have the potential to lower your credit score and stay on your record for up to two years.

Does Rapid Finance offer online account access?

Yes. Sign up for a free Rapid Finance account to manage your loan 24/7.

Compare more business loans from top lenders

Use this table to see how Rapid Finance stacks up to other business loans available online.

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Name	Product	Filter Values	Loan amount	APR	Requirements
Fora Financial business loans Finder Rating: 4.1 / 5: ★★★★★			$5,000 – $500,000	Varies	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.	Go to site More Info	Compare	loading Fetching your data…
Lendio business loans Finder Rating: 4.75 / 5: ★★★★★			$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.	Go to site More Info	Compare	loading Fetching your data…
OnDeck short-term loans Finder Rating: 4.6 / 5: ★★★★★			$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.	Go to site More Info	Compare	loading Fetching your data…
National Funding business loans Finder Rating: 4.75 / 5: ★★★★★			$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.	Go to site More Info	Compare	loading Fetching your data…
Fundbox lines of credit Finder Rating: 4.2 / 5: ★★★★★			$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.	More Info	Compare	loading Fetching your data…
Bitty Advance business cash advances Finder Rating: 2.8 / 5: ★★★★★			$2,000 – $25,000	Not applicable	$5,000 monthly bank revenue, 6+ months in business, business bank account open 3+ months, 450+ credit score	With APRs in the triple digits, this is best saved as a last resort.	Go to site More Info	Compare	loading Fetching your data…

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