SmartBiz Small Business Loans Review

#18 in Small Business Loans

SmartBiz provides SBA loans with low interest rates, affordable monthly payments and long repayment terms. The company built a platform with advanced technology underwriting to modernize the old SBA application process. It is financed by leading venture capital firms and is passionate about finance and helping businesses grow.

Features and Services

SmartBiz can fund loan applications up to $350,000 that can be paid up to 10 years. Its interest rates ranges from 6.25 to 7.25%with fixed interest rates. It charges fees for personal guarantee, closing cost and other loan fees.

One of the best things about SmartBiz is its loan application. Borrowers can pre-qualify in as little as 5 minutes without impacting their score. Just provide basic information online and it will automatically tell you if you pre-qualify for a loan.

The company’s requirements for applying a loan must be at least in business for 2 years and each principal owner must personally guarantee loan. It must have at least minimum of 600 credit score and no bankruptcies in the past three years.

Its customer representatives are knowledgeable and can answer questions without forwarding it to a loan officer. It is the only lender that provides fully online application and offers list of business and personal information that a borrower needs.

Plan Details

Loan Amount

$350,000

Loan Terms

10 years

Interest Rates

6.25 to 7.25%

Fixed Internet Rate

Variable Interest Rate

Down Payment

Loan Fees

Closing Cost

Guarantee

Other Fees

Prepayment Penalty

NO

Loan Application

Online Application

Personal Credit Profile

Business Credit Profile

Approval Time

WITHIN MINUTES

Local Branches

Available Nationwide

Application Time

WITHIN MINUTES

Mobile App

Qualifications

U.S. Citizen

Good Credit

Bankruptcy

Years in Business

2

Qualified even with bad credit

Help and Support Services

Email Support

24 Hour Telephone Support

Live Chat

FAQs

Small Business Loans at SmartBiz

SmartBiz gives businesses a convenient process for small business applications. It offers flexible loan terms that can be tailored to a businesses’ unique business financing needs.  

 

 

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