Founded in 2011, QuickBridge is the brainchild of innovators in the business lending field who noticed that amazing companies, through no fault of their own, couldn’t access working capital through the usual sources. We set out to fix what was broken in the industry: no more mountains of paperwork, long delays, or bait-and-switch offers that weren’t in the best interest of the business. We have made the application process easier, which makes approvals faster—instead of waiting weeks to obtain much-needed financing, our customers can receive funding in just a few days. We have shaped a culture of fierce transparency, unrelenting professionalism and unwavering dedication to providing the highest levels of service. At QuickBridge, our goal is to be an extension of customers’ businesses—becoming an integral part of why they grow and thrive. As a result, more than 84 percent of our repeat customers see their business revenues improve.
We initiated a very small personal loan Jan 1. We needed the money quickly for our business implement but have been using our personal account due to divorce and relocation. We were completely transparent and provided non-stop, excessive documentation for over a week. We were told we were approved & $ would be deposited 1/9 (which was WAY past the promise date of 48 hrs at 1st call). 1/10, when we called our bank to check funds & AFTER we wrote a check for our business that day bc we were told we were approved & funds were being deposited, we found out we were overdrawn bc Quickbridge insisted on using our business account for our personal loan AND then denied us without informing us BUT withdrew $ from our business account for daily fees....... we would not have caught this without checking the account. Further, we had 3/4 of the loan amount in our personal a count AAAAAND plenty of collateral. They wasted our time when we could’ve gone elsewhere for quick $ and charged us fees and possibly a bank overdraft fee but fortunately, we have a good reputation & rapport with our bank.
NEVER, EVER AGAIN! I was iffy to trust this online bank garbage & QUICKBRIDGE just confirmed my suspicions. DO NOT EVEN BOTHER WITH THIS COMPANY!!!!!
They made it so simple & fast; simply provide the basic information needed, get approved, terms & conditions explained, steps provided with a rapid timeframe, & they fund the loan.
We worked with Isaiah Sadler and he was such a blessing. Made sure we got the funding we needed and that we understood everything along the way.
We worked with Jannet Rodriguez who was very professional and knowledgeable throughout the entire process. She worked hard to ensure we were provided with the best possible offer. She explained the agreement to us in detail and answered all of our questions. She was very easy to contact and work with. Thank you again Jannet!
Neena was very timely on getting back to me with answer to questions etc. She really cares!
I never felt rushed!
Founded in 2011, QuickBridge is a privately-held financial services firm based in Irvine, Calif., and with an office in New York City. QuickBridge provides short-term working capital loans for small and mid-sized businesses. QuickBridge’s basic tenets are speed, transparency, authenticity and service. The company has provided more than 20,000 loans totaling over $500 million. Its loan-processing platform won a 2016 BIG Innovation award from the Business Intelligence Group.
Fast approval. QuickBridge has its own loan-processing platform that can process and fund a loan in as few as 24 hours. This is significantly quicker than traditional banks, which can take several weeks to several months to approve a loan.
Variety of loan options. QuickBridge offers working capital loans and equipment financing, allowing borrowers to cover a range of business needs.
Poor credit is not a deal-breaker. A low credit score and poor credit history is a disqualifier for many traditional bank loans, but QuickBridge weighs other factors such as healthy cash flow and debt repayment history in approving a loan.
QuickBridge offers small and mid-sized businesses short-term loan options with flexible funding up to $500,000. Repayment terms span four to 12 months with daily, weekly, biweekly and monthly repayment options. Most loans come with an origination fee that covers the cost of loan processing and accounts for approximately 2% of the total loan amount.
|QuickBridge: At a glance|
|Loan product||Loan amount||Loan term||Fees||Time to funding|
|Working capital loan||$5,000 to $500,000||4 to 12 months||2% Origination fee||As few as 24 hours|
|Equipment financing||Up to $500,000||4 to 84 months||Minimum 7% fee||As few as 24 hours|
Loan information current as of 11/22/2019
|Revenue||Min. personal credit score||Time in business|
|$5,000 in monthly revenue||500 personal credit score||6 months|
QuickBridge serves the following industries: auto repair, business services (including management or technical consulting; financial, accounting or legal services; computer and web programming; advertising and marketing services), construction, general contractors, healthcare, insurance services, manufacturing, real estate agencies, restaurants, transportation, trucking and wholesale trade.
QuickBridge generally doesn’t require a specific asset pledge, when a borrower’s asset is transferred to the lender to secure the loan. But the lender does require a personal guarantee, an unsecured written promise from a business owner guaranteeing payment if the business fails to repay the loan. A personal guarantee allows the lender to pursue a business owner’s personal assets to repay the loan, but doesn’t place a lien on those assets.
In some cases, QuickBridge will file a Uniform Commercial Code 1 form (UCC-1). These forms are filed by the creditor to indicate that they may have an interest in the personal property of the business owner. This should be explained in the lending agreement.
Businesses in open bankruptcy, those operating for fewer than six months, and/or those operated by owners with a personal credit score of less than 500 are not usually eligible for loans.
The QuickBridge application can be completed online or by phone. The required documents to apply include:
|Fast approval and time to funding.||Certain industries are not eligible.|
|Multiple short-term financing options.||Startup financing not available.|
|Relatively lenient approval criteria.||Long repayment terms not offered.|
QuickBridge is a good fit for business owners who need quick, easily accessible short-term funding. Business owners who may ordinarily not qualify for a traditional bank loan because of poor credit or being in business for a short time also could benefit from QuickBridge’s loan approval process.
Rates not advertised online. QuickBridge rates depend on many factors, including personal credit scores, funding type and amount. QuickBridge explains each of its business loans on its website, but individual rates and terms are not listed for its loans.
Personal assets on the line. It’s important to remember that QuickBridge requires a personal guarantee of repayment from the business owner if the business does not pay. A lender can pursue a business owner’s personal assets if the business fails to repay the loan.
QuickBridge’s short-term loan options allow business owners quick funding with a streamlined application process. QuickBridge can be a good option for newer businesses without much credit history, business owners with poor credit, or owners who don’t want to take on long-term debt.
As with any loan, make sure you understand how much you’re expected to repay, how often you’re required to make payments and what happens if you default on the loan your personal assets in case of default. Always call your lender first if you think you won’t be able to make a payment.
Before selecting, do your homework and get proposals from several lenders to make sure you’re getting the best rate and terms on your small business loan.