StreetShares review
A no-fee way to invest in bonds that directly support veteran-owned businesses. But new bonds are no longer available for purchase.
- Consider StreetShares if you want a three-year bond with a 5% return.
- Look elsewhere if you’d like to invest in other securities, including stocks.
N/A
Stock trade fee
$25
Minimum deposit to open
5%
Average return
Details
| Account types | Brokerage |
|---|---|
| Minimum deposit to open | $25 |
| Annual fee | $0 per month |
| Average return | 5% |
| Asset types | Bonds |
Editor’s note: The StreetShares web site says no new Veteran Business Bonds are being offered.
If you’re looking to diversify your portfolio with a low-risk investment, StreetShares offers a higher return than a savings account and supports a worthy cause. But its no longer accepting bond investments, and it’s not available to all US residents.
What investments does StreetShares offer?
StreetShares stopped offering its Veteran Business Bonds as of December 2020.
Who is StreetShares best for?
StreetShares is best for investors who want a fixed-income investment while supporting veteran-owned businesses.
Fees and costs
StreetShares is a fee-free way to invest in bonds. You’ll only pay a fee if you withdraw funds outside of your anniversary window or before the three-year mark.
Let’s imagine you invested in bonds on October 1, 2019. Your anniversary window would begin on October 1, 2020, where you’d have two weeks to withdraw your funds without penalty.
After that, you’d have to wait for three years until October 1, 2023, to withdraw without penalty again. You pay a 1% fee if you withdraw funds outside these times.
How do I sign up?
StreetShares is no longer accepting new investments.
Research tools
Your money doesn’t go directly to the small businesses. Instead, when you purchase bonds, your money funds a pool of capital that StreetShares uses to invest in small businesses. That means investors don’t get research tools to select what bonds or businesses to support.
Pros and cons
Pros
Some common benefits of StreetShares include:
- Investments support veterans. StreetShares donates 80% of funds to veteran-owned small businesses.
- Competitive interest rate. Earn 5% interest daily on bonds.
- Short holding period. Investors can withdraw funds in as little as one year.
- No management fees. Investors only pay a fee for early withdrawals.
Cons
StreetShares bonds are no longer available for purchase. Other potential drawbacks for StreetShares include:
- Bonds only. Unlike other investing platforms, StreetShares doesn’t offer stock as an investment option.
- Long processing period. Withdrawals over $50,000 can take up to 30 days to process.
- Not available to all US residents. StreetShares bonds aren’t available to those living in the following areas: Arizona, Florida, North Dakota, New Jersey, Washington, Guam.
Is StreetShares legit?
Yes. StreetShares is a lending company founded by two military veterans, Mark Rockefeller and Mickey Konson. It has qualified with the Securities and Exchange Commission (SEC) to offer Veteran Business Bonds and is an accredited business with the Better Business Bureau (BBB).
StreetShares reviews and complaints
As of April 2021, StreetShares has six customer reviews on the BBB with a 2.83- out of 5-star rating. It also has a 3.4- out of 5-star rating on TrustPilot based on 167 reviews.
Customers love investing with StreetShares claiming, “the 5% return on their three-year notes is hard to beat.” Customers also liked that when new bonds were available, they could reinvest interest into new bonds once they’ve accumulated at least $25.
How do I contact StreetShares support?
StreetShares customer service is available weekdays between 8 a.m. and 7 p.m. ET. There are several ways to get in touch with a representative:
- Phone: 800-560-1435
- Email: support@streetshares.com
- Mail: StreetShares, Inc., 1900 Campus Commons Drive, Suite 200, Reston, VA 20191
Compare with other stock trading platforms
*Signup bonus information updated weekly.
Bottom line
StreetShares was a fee-free way to invest in bonds. But since Veteran Business Bonds are not currently available, you might want to shop around for another investment platform.