StreetShares Small Business Loans: 2021 ReviewCheck Your Rate
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Overview of StreetShares
Pros and cons
Variety of business loans, depending on your needs Has lower rates than some online lenders No application fee or prepayment penalty Low minimum credit score
Payments are automatically deducted weekly from your bank account There are complaints about customer service Loans capped at 20% of annual revenue, up to $250,000 Businesses in certain states, including South Dakota, North Dakota, Rhode Island, Nevada, and Montana, and the U.S. Territories, are not currently eligible
StreetShares Small Business Loan Rates, Terms, and Fees
What Types of Loans Does StreetShares Offer?
Short-term loans Lines of credit SBA business loans Inventory loans Working capital loans Secured business loans Merchant cash advance loans Equipment financing Small business loans for veterans
Important to Keep in Mind
Applying for a StreetShares Small Business Loan
Be a US citizen Have been in business at least a year (six months or more may also qualify, depending on other factors) Have a minimum annual revenue of $75,000+ Have a business guarantor with reasonable credit Social Security Number (SSN) of business owner Employer Identification Number (EIN) Total outstanding business debts 6 most recent business bank statements Most recent personal and business federal tax returns Possibly other financial statements, like P&L and balance sheet
The Bottom Line
Frequently Asked Questions
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