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

The Loan Exchange business loans review

Get connected to working capital with minimal eligibility requirements.’s rating: 4.22 / 5.0


Having trouble qualifying for a loan to cover your business’s day-to-day expenses? The Loan Exchange might be able to help. This connection service works with lenders that offer business loans for borrowers with all types of credit ratings.


Min. Amount$6,000
Max. Amount$250,000
Loan Term24 to 120 months
Min. Credit Score500
APRStarting at 14.9%
Requirements500 credit score, bank account open for at least 90 days, based in eligible state.

First, do I qualify?

To be eligible for a business loan from one of The Loan Exchange's partners, you must have a:

  • Credit score of at least 500
  • Business bank account for at least 90 days
  • Business based in an eligible state

Eligible states

Your business must operate out of one of the following states to be eligible for a loan through The Loan Exchange:

  • Alabama
  • Arizona
  • California
  • Delaware
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kentucky
  • Louisiana
  • Maine
  • Mississippi
  • Missouri
  • Nebraska
  • New Hampshire
  • New Mexico
  • Ohio
  • Oregon
  • South Carolina
  • Utah
  • Wisconsin
  • Wyoming

What’s The Loan Exchange?

The Loan Exchange is an online connection service that specializes in fast business loans for borrowers who’ve had trouble qualifying elsewhere. It currently works with three lenders that offer working capital for unsecured business term loans from to . Rates are Starting at 14.9%, and include an origination fee of 5% to 15% of the loan amount. Businesses typically have between 2 years and 10 years years to pay off their loan.

You can use your loan for any legitimate expense, including bringing on new staff, general operation costs, buying equipment and refinancing business debt. The application is simple and only takes a few minutes to complete online or over the phone if you have all the information you need on hand. And if you apply early enough in the day, you could get your funds as soon as that evening.

What makes The Loan Exchange’s business loans unique?

With minimal requirements and documentation needed, The Loan Exchange offers one of the simplest business loan applications out there. There’s no collateral required, so you don’t have to put any of your business’s assets on the line and you don’t need excellent credit to qualify. The speed is also worth repeating: It claims that you can get your funds wired to your business’s account as soon as two hours after getting approved.

What are the benefits of using The Loan Exchange?

  • All credit types welcome. You can still potentially qualify for a business loan through The Loan Exchange even if you have poor credit.
  • Fast turnaround. Your business can get access to its funds as soon as two hours after approval.
  • Friendly to young businesses. While you might have trouble qualifying as a startup, you only need to have a business bank account for 90 days to meet the minimum requirements.

What to watch out for

  • Not great for good credit. With rates starting at 14.9%, you might be able to qualify for a more competitive business loan if you have a high credit score or a few years in business under your belt.
  • High origination fees. The Loan Exchange’s partners charge origination fees starting at 5% — where many business lenders stop.
  • Limited state availability. The Loan Exchange’s partners only operate in 23 states.

What do other customers have to say about The Loan Exchange?

Nothing that we could find. It doesn’t have a Better Business Bureau page and its Trustpilot page doesn’t have any reviews yet. It also doesn’t have any pages on Yelp or mentions on online forums like Reddit. While this isn’t necessarily a good sign, it’s not necessarily a red flag either.

That’s because a debt relief service called The Student Loan Exchange has recently gotten some media attention after it was part of a recent crackdown by the Federal Trade Commission on debt settlement providers. Any online reviews of The Loan Exchange would be buried under articles and reviews of The Student Loan Exchange — if they exist.

The Loan Exchange is also still clearly building its network, and it isn’t as established as some other connection services that have been around for longer. It’s not uncommon for lenders with such a short reach to lack online reviews.

Compare more business loans providers

1 – 5 of 5

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.

OnDeck short-term loans
Finder Rating: 4.6 / 5: ★★★★★

OnDeck short-term loans
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.

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

Biz2Credit business loans
Starting at 6.50%
6+ months in business; $100,000+ annual 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.

ROK Financial business loans
Finder Rating: 4.7 / 5: ★★★★★

ROK Financial business loans
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.

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

Fundbox lines of credit
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

How do I apply?

Before you apply, make sure you meet The Loan Exchange's eligibility requirements. To qualify for a business loan with one of its partner lenders, you must:

  • Have a credit score of at least 500
  • Have a business bank account for 90 days or more
  • Be in an eligible state

Keep in mind that the most competitive rates and larger loan amounts typically go to borrowers with better credit and more experience.

Steps to apply

You can apply for a business loan from The Loan Exchange one of two ways: Over the phone by calling 844-956-2639 or online. Follow these steps to complete the online application:

  1. Go to The Loan Exchange's website and click Apply Now in the top navigation bar.
  2. Enter your name and click Next.
  3. Write your email and phone number, and select your preferred way of communication. Read the contact disclosure and check the box agreeing to it before hitting Next.
  4. Enter your business's address, select whether you own or rent it and whether you're interested in buying real estate. Click Next.
  5. Select the amount you'd like to borrow and check Business Need, before hitting Next.
  6. Enter your business's legal name the way it appears on tax forms, the address and the monthly revenue before taxes. Then hit Next.
  7. Answer a few more miscellaneous questions before hitting Next.
  8. Enter your Social Security number and birthday, then read the Credit Authorization Disclosure. If you agree, check the box and hit Next.
  9. Review your offers. If one meets your business's needs, follow the directions to complete the application and submit any required documents.

Once you sign your loan documents, your business could get its funds in as little as two business hours.

What documents do I need to apply?

The Loan Exchange's partner lenders typically only ask for three types of documents, though this can vary. You might be asked to see the following types of documentation:

  • Three months of business bank statements. Since you're required to have a bank account for at least 90 days, it's likely that you'll be required to submit your business's last three months of bank statements.
  • Tax returns. Your lender might also ask to see your most recent tax returns — both personal and business.
  • State-issued ID. Lenders are required by law to verify your identity by checking a driver's license, passport or other form of government-issued identification.

How to apply step-by-step

I got a business loan through The Loan Exchange. Now what?

What happens next depends on your lender, though generally your first repayment won't be due for a month. If it's an option, consider signing up for automatic repayments. That doesn't mean you should forget about your loan, however — even machines make mistakes. Monitor your business's bank account and loan balance. Reach out to customer service if you have any questions or notice an error.

None of The Loan Exchange's partner lenders charge prepayment penalties, so your business can save on interest by paying off its loan early. But you might want to reach out to your lender before making any extra payments to ask about its prepayment procedure.

Want to learn about more options? Check out our guide to business loans to compare other lenders and find out how it all works.

Frequently asked questions

Image Source: Shutterstock and

Business loan ratings

★★★★★ Excellent
★★★★★ Good
★★★★★ Average
★★★★★ Subpar
★★★★★ Poor

We rate business loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.

Read the full methodology of how we rate business loan providers to get a better picture of what goes into each star rating.

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.
Go to site