Rapid Finance Small-Business Loans Review

Rapid Finance is an alternative lender that provides multiple financing products for small-business owners, including term loans and other options.
Lisa Anthony
Tina Orem
By Tina Orem and  Lisa Anthony 
Edited by Christine Aebischer

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

Our Take


NerdWallet rating 

The bottom line:

Rapid Finance offers flexible credit requirements to borrowers who may not be able to qualify for traditional financing, and its streamlined application process can provide funds quickly to approved borrowers.

Rapid Finance - Online term loan
Rapid Finance - Online term loan
Max loan amount
Min. credit score

Pros & Cons


  • Cash can be available quickly.
  • Borrowers with lower credit scores may have options.
  • Multiple types of loans and term lengths for different financing needs.


  • Doesn’t disclose interest rates.
  • May require a lien and personal guarantee.
  • Automatic payments required on most products.

Full Review

How Much Do You Need?

with Fundera by NerdWallet

Rapid Finance, a Maryland-based alternative lender, offers small-business loans as well as SBA loans, asset-based loans, commercial real estate loans, bridge loans, invoice factoring and lines of credit. The company also offers merchant cash advances; however, these are some of the most expensive forms of financing, so we recommend exhausting all other financing alternatives before turning to an MCA.

Rapid Finance is best for borrowers who:

  • Don't have perfect credit. Borrowers with thin or weak credit who may fall short of qualifying for traditional financing should explore Rapid Finance. As an alternative lender, it typically has more lenient credit requirements for borrowers and takes more than credit score into consideration.

  • Prefer a fast loan process. You can apply for Rapid Finance business loans online and, if approved, receive funds in just a few hours.

Rapid Finance loan features

Loan type

Loan amount


Repayment schedule

Interest and fees

Term loan

$5,001 to $1 million.

3 months to 5 years.

Daily, weekly or monthly payments.

Not disclosed.

Lines of credit

$5,001 to $250,000.

3-18 months.

Daily, weekly or monthly payments.

Interest or fixed fee; other fees may apply.

SBA loans

$500 to $5.5 million.

1-30 years.

Monthly payments.

Interest or fixed fee; other fees may apply.

Bridge loans

$5,001 to $1 million.

3 months to 5 years.

Daily, weekly or monthly payments.

Interest or fixed fee; other fees may apply.

Commercial real estate loans

$75,000 to $2 million.

5-20 years.

Monthly payments.

Not disclosed.

Asset-based loan

$50,000 to $10 million.

6 months to 3 years.

Daily, weekly or monthly payments.

Not disclosed.

In addition to loans, Rapid Finance also offers merchant cash advances and invoice factoring, where a business is advanced funds based on its accounts receivables or outstanding invoices. Advances can range from $5,000 to $10 million, depending on the product.

Rapid Finance application process

Rapid Finance offers an online application. In addition to information about your business, you’ll be asked to provide the following:

  • A valid form of identification such as a driver’s license or passport.

  • Business bank account and routing numbers.

  • Last three months of business bank statements.

Your application will then be reviewed and you’ll be contacted if any additional information is needed. If approved, funds will be sent to the business bank account you provided. This could happen in as little as a few minutes or in a few hours.

Where Rapid Finance stands out

Streamlined application process

Rapid Finance requires a minimum amount of information to complete its online application. This includes a valid form of identification, three months of business bank statements and your business bank account information for funding. However, additional information may be requested during the review process. Once you submit an application, you can get a response within 24 hours.

Flexible credit requirements

To assess the overall performance of a business, Rapid Finance looks at more than just a borrower’s credit score, which means those with less-than-stellar credit may still qualify. Other factors that Rapid considers when determining loan eligibility include business revenue, time in business, accounts receivables and business credit history.

Variety of funding options

Rapid Finance offers a variety of small-business financing products — something not every lender is able to do. This includes SBA and term loan programs, as well as lines of credit, bridge loans, commercial real estate loans and asset-based loans. In addition, businesses with accounts receivable and outstanding invoices have the option of receiving cash through Rapid Finance’s merchant cash advance and invoice factoring products.

Where Rapid Finance falls short

Doesn’t disclose interest rates and fees

Rapid Finance is not transparent on the interest rates it charges or the fees that are associated with its products. While interest rates can vary by product and be influenced by a borrower's credit history and other factors, providing some basic rate information can help borrowers compare lenders. Many of the loan products have associated fees, such as origination fees and prepayment penalty fees, but no specific details about these fees are provided on the website.

May require a lien and personal guarantee

Depending on your application, your loan may be secured by a Uniform Commercial Code financing statement, which is a lien that allows the lender to claim business assets in the event of default. A personal guarantee may also be required, which gives the lender access to your personal assets as well.

Automatic payments from business accounts

Most Rapid Finance products require automatic payment, which means the payment amount will automatically be withdrawn from a designated bank account. While this may be convenient for some borrowers, other borrowers may prefer to have control over when payments are made, especially if they have inconsistent cash flow. If there’s not enough cash in the account when the payment is taken, a borrower might have to pay overdraft fees, which can add up quickly.

Compare business loans

If you’d like to compare loan options, NerdWallet has a list of small-business loans that are best for business owners. All of our recommendations are based on the lender’s market scope and track record and on the needs of business owners, as well as rates and other factors, so you can make the right financing decision.

Frequently asked questions