QuickBridge Business Loans Review
Ratings and reviews are from real consumers who have used the lending partner’s services.
Ratings and reviews are from real consumers who have used the lending partner’s services.
Not publicly disclosed
Up to $500,000
6 months
$250,000
Pros and cons of QuickBridge
| Pros | Cons |
|---|---|
| Lends to those with fair credit No collateral or down payment requirement Potential for early payoff discount Easy and quick application process | Does not lend to those with poor credit Can find higher maximum loan amounts elsewhere Factor rates not shared publicly — you’ll have to apply to see if it’s more or less expensive compared to the competition |
QuickBridge small business loans review
If you’re on top of your paperwork, QuickBridge can get you funding through a working capital loan lightning fast. In some cases, the process from application to seeing the funding in your business bank account can happen within 24 hours. Applying isn’t hard, either. As long as you have a fair credit score, your driver’s license and bank statements from the past three months, it should be fairly painless and quick in most instances.
You will want to read your loan offer carefully. Keep an eye out for any fees, and be sure you understand the factor rate you’re offered. Factor rates tend to be a more expensive way to borrow than traditional interest rates laid out in terms of APR.
If you have strong cash flow, there could be some exciting news in your loan offer, too – QuickBridge may offer you a discount for paying off your loan early. If this is an option, it’ll be detailed in your loan offer.
Who is QuickBridge best for?
- Borrowers with fair credit. If you have fair credit, you might get turned down by more traditional lenders. While QuickBridge doesn’t accept applicants with poor credit, it will consider you if you’re in the fair credit range.
- Business owners who need quick funding. In some cases, QuickBridge can get your funding into your bank account as soon as the business day after application.
- Business owners who can repay quickly. The maximum loan term with QuickBridge is 18 months, which is fairly fast. Paying off a loan quickly comes with benefits, like paying less in interest. But if the timeframe isn’t realistic given your revenue, you may want to consider a long-term business loan with another lender.
QuickBridge small business financing at a glance
| Product | Loan amounts | Repayment term | Estimated APR range | Fees |
|---|---|---|---|---|
| Working capital loans | Up to $500,000 | 3 to 18 months | Not disclosed | Not disclosed |
Working capital loan
With a QuickBridge working capital loan, you can secure a short-term business loan of up to $500,000 with a term of 3 to 18 months. You can use your loan for any number of purposes, whether that’s equipment financing, as a bridge loan or to acquire a competing business. While its website advertises “no hidden fees,” that doesn’t mean there won’t be any fees. Instead, it means you should read your loan offer carefully to ensure you understand all the fees that are disclosed. Keep a particular eye out for potential origination fees.
QuickBridge working capital loans come with no collateral or down payment requirements. In some instances, you may be offered an early payoff discount. If that option is available to you, it will be outlined in your loan offer, and you’ll have to be current on your payments in order to take advantage of it.
QuickBridge borrower requirements
| Minimum annual revenue | $250,000 |
| Minimum time in business | 6 months |
| Minimum credit score | Fair to excellent |
To qualify for a working capital loan with QuickBridge, you will need at least six months of business history, and you must be able to prove the equivalent of $250,000 in gross sales on an annual basis. QuickBridge’s final lending requirement is a fair to excellent credit score. While the company doesn’t make any concrete statements publicly about an exact number, it does state that it considers a “poor” credit score as less than 580.
Required documents
Usually, QuickBridge only requires a current driver’s license and three months of bank statements. Every once in a while, it will ask you for your business or personal tax returns, too. This is a low paperwork burden for a business lender, but it’s still a good idea to prepare the required paperwork before you apply so the process goes as quickly as possible.
Alternatives to QuickBridge
| Detail | QuickBridge | Fora Financial | National Funding |
|---|---|---|---|
| Minimum credit score | Fair to excellent | 570 | None |
| Loan products offered |
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|
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| Time to funding | As quickly as 24 hours | Usually 24-48 hours | As quickly as 24 hours |
| Starting rate | Not disclosed | 1.15 factor rate | Not disclosed |
| Maximum loan size | $500,000 | $1,500,000 | $500,000 |
| Minimum annual revenue | $250,000 | $240,000 | $250,000 |
QuickBridge vs. Fora Financial
Fora Financial allows you to borrow a lot more money with slightly less annual revenue compared to QuickBridge. Now, if you’re barely meeting the minimum annual revenue requirement, you may not qualify for the largest loan size, but the difference in limits is still worth noting.
You may have an easier time with Fora Financial if you have a 570 credit score, too, as this minimum score requirement for Fora Financial falls into the “poor” range according to QuickBridge, which only issues working capital loans to those with fair credit or better.
QuickBridge vs. National Funding
QuickBridge and National Funding offer similar maximum loan amounts with similar annual revenue requirements. However, if you do have poor credit — which according to QuickBridge is anything below 580 – National Funding may still be willing to work with you as it places a larger emphasis on its time-in-business and minimum revenue requirements than credit scores.
While you might be able to use your loan proceeds for equipment financing with either lender, National Funding offers equipment financing as a distinct and separate product.