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Sheer Funding business loans review

Borrow up to $2 million starting at 5.95% APR — but watch out for daily or weekly repayments.

  • Best for business owners with poor credit who’ve struggled to get financing elsewhere.
  • Pick something else if you can’t afford daily or weekly repayments.


Min. Amount$5,000
Max. Amount$2,000,000
Loan Term3 to 60 months
Min. Credit Score550
APR5.95% to 35%
Requirements6+ months in business, 550+ credit score, $150,000+ annual revenue, eligible industry

First, do I qualify?

You must meet the following criteria at a minimum to qualify for a term loan from Sheer Funding:

  • At least six months in business
  • 550 credit score or higher
  • $150,000 annual revenue or higher
  • Eligible industry

Sheer funding considers other factors like your business’s industry and your personal credit report as well.

What makes Sheer Funding business loans unique?

Sheer Funding offers some of the most competitive rates out there for a lender that works with new businesses and low-credit business owners. It also offers an unusually wide range of loan terms, allowing you to find the term that works best for your business’s budget.

What is a Sheer Funding business loan?

A Sheer Funding business loan is a general-use term loan. You can borrow from $5,000 to at rates that run from to APR. Loan terms range anywhere from 3 to 60 months, with daily or weekly repayments. You can also repay your loan ahead of time to save on interest without paying any prepayment penalties.

While it doesn’t offer a fully online application, you can request a quote by filling out an online form on its website. If you want to go through with the application, you can download a PDF on its website and email or fax it in. The whole process can take two to three business day from start to funding.

Does Sheer Funding offer any other types of loans?

Yes. In addition to business term loans, Sheer Funding also offers the following products:

  • Merchant cash advances. Get an advance of $2,500 to $250,000 on your debit or credit card sales at a fixed fee between 1.12 and 1.45 times your advance amount. This type of funding comes with even lower credit requirements.
  • SBA loans. Government-guaranteed loans from $5,000 to $2.5 million with rates from to 11.99% and monthly repayments.
  • Equipment financing. Finance an equipment purchase from $5,000 to $1 million with rates from to 22.99% APR and monthly repayments.
  • Lines of credit. Get access to credit limits up to $100,000 with rates from 5.99% to 18.99% and weekly repayments.

What are the benefits of a Sheer Funding business loan?

From its competitive rates to its lenient eligibility requirements, here are a few perks of borrowing from Sheer Funding:

  • Competitive rates. Sheer Funding’s rates start lower than your typical business lender, especially those that accept bad-credit borrowers.
  • Bad credit OK. You still might qualify for a loan even if your credit score is around 550.
  • Wide range of loan terms. You can take as little as 3 to 60 months to pay off this loan.
  • No prepayment penalties. This gives you the chance to repay your loan before it’s due to save on interest.
  • Transparent website. Sheer Funding provides more information about how its loans work than many other business lender’s websites — especially those that work with bad-credit borrowers.

What to watch out for

Consider these potential drawbacks before taking out a Sheer Funding business loan:

  • Requires personal guarantee. You and any other partners are on the hook for paying off the loan if your business defaults.
  • Daily or weekly repayments. This can be difficult to manage if you don’t have highly consistent cash flow.
  • No fully online application. While you can get a quote online, you’ll have to download and either email or fax a PDF application.

Compare other business loan options

Name Product Filter Values Loan amount APR Requirements

Biz2Credit business loans
Finder Rating: 4.7 / 5: ★★★★★

Biz2Credit business loans
$25,000 – $6,000,000
Starting at 5.99%
6+ months in business; $100,000+ monthly revenue; 500+ credit score
Get only the capital you need through secure, prescreened lenders with this highly rated company offering SBA, expansion, working capital and other loans.

Lendio business loans
Finder Rating: 4.75 / 5: ★★★★★

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
Finder Rating: 4.7 / 5: ★★★★★

ROK Financial business loans
$10,000 – $5,000,000
Starting at 6%
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 short-term loans
Finder Rating: 4.6 / 5: ★★★★★

OnDeck short-term loans
$5,000 – $250,000
As low as 35%
600+ personal credit score, 1 year in business, $100,000+ annual revenue, active business checking account
A leading online business lender offering flexible financing at competitive fixed rates.

Fundbox lines of credit
Finder Rating: 4.2 / 5: ★★★★★

Fundbox lines of credit
$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.

Compare up to 4 providers

Sheer Funding reviews and complaints

BBB accredited No
BBB rating A+
BBB customer reviews 5 out of 5 stars, based on 1 customer reviews
Trustpilot Score 4.5 out of 5 stars, based on 18 customer reviews
Customer reviews verified as of 12 October 2019

Customers were pleased with the professionalism, transparency and how much Sheer Funding’s team seemed to care about getting them a good deal. Several also cited a fast, efficient application process and low interest rates.

How do I apply?

You can get started on your application by requesting a quote from Sheer Funding online. Follow these steps:

  1. Click the Go to site button on this page.
  2. Fill out the form with basic information about yourself, your funding request and your business.
  3. Leave any additional notes in the message box. Click Submit.

Wait for an account executive from Sheer Funding to get in touch to discuss your application and loan options. They’ll give you instructions on how to fill out the one-page application and submit documents. Typically, it takes about 24 hours to receive an offer. After you sign your loan documents, it can take another 24 to 48 hours to receive your funds.

What documents do I need to apply?

You need to provide the following documents along with your loan application:

  • Business bank statements
  • Valid ID
  • Voided check
  • Tax returns from last year

Sheer Funding might also ask to see other documents, such as your business’s profit-and-loss statement and balance sheets.

How do repayments work with Sheer Funding?

Sheer Funding’s term loan comes with either daily or weekly repayments. Check your loan documents to find out when your repayments are due and monitor your business bank account as well as your Sheer Funding account. Reach out to customer service as soon as possible if you have any questions about your loan — or want to pay it off early to save on interest.

Find out how Sheer Funding stacks up to other lenders with our guide to business loans.

Frequently asked questions

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 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

Sheer Funding term loans could be a good option if you’ve struggled to qualify for a business loan in the past because of your credit. It offers competitive rates to business owners with a credit score as low as 550, as long as you meet other requirements. And you only have to be in business at least six months to qualify.

But you might want to apply elsewhere if you’re struggling with cashflow gaps, since these loans come with weekly or daily repayments. It also requires a personal guarantee from all business partners.

Not sure Sheer Funding is right for you? Compare other business lenders below.

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