Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure

Ready Capital SBA loans review

Funding for everything from startups to expansion — but look elsewhere if you want to apply online.

Bottom line: Ready Capital offers SBA 7(a) loans designed for large expansion projects, with more flexible requirements than your average lender. But it may not be ideal when you need quick financing or to cover a small expense. Read our full review.

No reviews yet. Write a review


Min. Amount


Max. Amount


Min. Amount$350,000
Max. Amount$5,000,000
Loan termUp to 300 months
Min. Credit Score680
RequirementsMust meet SBA requirements, 0% to 20% down payment, 680+ credit score


  • SBA-preferred lender
  • Special program for veterans
  • Startup and franchise financing available


  • Not transparent about rates and fees
  • No online application
  • Poor customer reviews and ratings

Compare lenders

Our take on Ready Capital

Ready Capital one of the top 100 most active preferred lenders with the Small Business Administration (SBA), and specializes in SBA 7(a) loans for large projects. Preferred lenders have a faster turnaround on SBA loans because they have the authority to approve government-backed loans. While it specializes in commercial real estate, it also offers loans for expenses like working capital, business expansion and acquisition.

This lender can be a great for new businesses — especially those owned by former service members. It accepts startups and franchises, and has flexible revenue requirements. And it's one of one of the few lenders I've reviewed with a special loan program for veteran-owned businesses — not to be confused with the now-closed Veteran's Advantage loan program.

While it doesn't publish the range of interest rates and fees it charges, the SBA sets limits on to ensure the cost is similar to what you'd find at a bank. But it has overwhelmingly negative customer reviews. And for with loans starting at $350,000, go with another provider for small expenses.

Compare lenders

Ready Capital offers large 7(a) loans with long terms

Ready Capital loans start at $350,000 and run as high as $5 million, with terms as long as 25 years for real estate and 10 years for other expenses.

It doesn't disclose the interest rates and fees it charges. But these are the maximum rates and fees the SBA allows on SBA loans:

  • Interest rates can reach prime + 4.75% and are fixed.
  • SBA guarantee fees can reach 3.5% for the first $1 million guaranteed portion of the loan. For guaranteed portions over $1 million, the SBA charges a fee of 3.75%.
  • Packaging fees can reach 3% of the loan amount — though the SBA caps it at $30,000. Ready Capital would charge this if it assists you with the application.
  • Servicing fees are typically 0.55% of the loan's principal each year.

Other fees may apply — like a prepayment penalty on real estate loans. You can learn about with our guide to SBA loan fees.

Faster alternatives to Ready Capital

Ready Capital's SBA-preferred status makes it faster than your typical SBA lender. But the application can still be time-consuming, especially compared to an online lender. If you don't have a lot of time to spend on the application, fill out the form on our table to compare SBA providers with online applications.

1 – 4 of 4
Name Product Filter Values Min. Amount Max. Amount APR Requirements
Lendio business loans
Finder Rating: 4.75 / 5: ★★★★★
Lendio business loans
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.
Finder Rating: 4.38 / 5: ★★★★★
Varies depending on the lender
Must have been in business between 1–2 years, have a minimum revenue of $75,000–$250,000 and have a minimum credit score of 500–650.
Complete a three-minute form to see loans that fit your business’s needs. Compare offers without a hard credit check.
ROK Financial business loans
Finder Rating: 4.7 / 5: ★★★★★
ROK Financial business loans
Starting at 6%
Eligibility criteria 1+ year in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
Apply for up to $5 million with a 15-second online application. Choose your best offer and get funded as soon as the same day.
Finder Rating: 4.6 / 5: ★★★★★
Starting at 1%
600+ personal credit score, 1+ years time in business, $140,000+ minimum annual revenue, active business checking account required
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.

Ready Capital reviews are mostly negative — and about the PPP

BBB accredited No
BBB rating F
BBB customer reviews 1 out of 5 stars, based on 40 customer reviews
BBB customer complaints 7 customer complaints
Trustpilot Score 3.8 out of 5 stars, based on 965 customer reviews
Customer reviews verified as of 24 August 2021

Ready Capital gets mostly negative customer reviews and an F rating from the Better Business Bureau (BBB) for not responding to customer complaints. The overwhelming majority of reviews are complaints are over the PPP loan application process — though a handful of customers customers say it was quick and efficient.

Ready Capital requires good credit on top of SBA criteria

In addition to meeting the SBA's basic requirements, you must have a personal credit score 680 or higher to be eligible for a Ready Capital loan.

It also asks small business owners to make an equity injection of at least 10% for most projects. Veteran-owned businesses may be able to avoid the equity injection requirement — but could be required to pay up to 20% of the project's costs.

Ready Capital also has a relatively low debt service coverage ratio (DSCR) requirement of 1.15 on most loans. This means that your business must have a net operating income equal to at least 1.15 times the amount of debt in its name while its repaying the loan. This DSCR requirement is on the lower end for a lender that specializes in real estate — banks typically ask for a DSCR of at least 1.2 on real estate loans.

Ready Capital's preferred status and startup financing set it apart

Not only is Ready Capital an SBA-preferred lender, it's one of the most active SBA 7(a) providers in the country. In 2021, it funded 247 SBA 7(a) loans worth to total of nearly $308 million — as of June 30th.

It's also one of the few SBA lenders out there that accepts businesses in the startup phase. With no hard-and-fast revenue requirements and a low DSCR cutoff, this provider may be a good option for businesses that struggle to qualify for an SBA loan at a bank.

Ready Capital is a legitimate nonbank lender

Ready Capital might have a high volume of negative customer reviews, but it's still a legitimate company. The SBA vets lenders for legitimacy before authorizing them to provide government-backed loans. And Ready Captial's SBA preferred status means that it met even higher standards than your typical SBA lender.

See how Ready Capital compares to our picks for the top SBA lenders before you apply.

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site