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StreetShares Small Business Loans: 2021 Review

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Susan Guillory
Susan GuilloryUpdated August 29, 2022

Overview of StreetShares

StreetShares provides financing to both small businesses and veterans through its “affinity-based lending” platform that connects borrowers with investors. This platform follows a peer-to-peer (P2P) lending model, where the lender acts as an intermediary between the borrower and an investor, rather than the lender funding the loan directly. In addition to StreetShares business loans, which range from working capital loans to equipment financing, the company offers lines of credit and veteran business bonds.8/23/2021 Update: StreetShares no longer offers new loans to small business owners. Instead, it provides lending technology to community banks through its Atlas program. What follows is a description of their earlier loan program and application process.
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

As of 4/9/2021, StreetShares is not issuing new loans. Loan amounts: $2,000 to $250,000APR range: 8.00%-39.99%Origination fee: 3.95% or 4.95%Minimum credit score: 540Time to funding: 24 hoursCo-borrower needed: unknown

Other Lenders

When you’re researching lending for small businesses, it’s worth exploring all of your options. Here are a few lenders to consider.

What Types of Loans Does StreetShares Offer?

StreetShares business loans include several different products, including:Additionally, investors can invest in a veteran business bond to earn 5% interest for three years from the date of issuance.

Important to Keep in Mind

For business owners more accustomed to traditional bank loans, it may come as a shock that payments are deducted from your bank account weekly. This may be challenging for businesses that have uneven cash flow.Also, while the maximum amount you can borrow is $250,000, you will actually be limited to 20% of your annual revenue.Businesses in certain states, including South Dakota, North Dakota, Rhode Island, Nevada, and Montana, and U.S. Territories are not currently eligible for StreetShares financial products.

Applying for a StreetShares Small Business Loan

The application for StreetShares business loans is fairly simple and they claim it takes just a few minutes online. You can also call to work with a customer service representative if you’d prefer.Current eligibility requirements: 
  • 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
What you need to apply for a StreetShares loan includes (but may not be limited to) the following:
  • 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
Once approved, you will be given your loan amount and terms.Typically, loans must be repaid over 3-36 months. They claim that your funds may be deposited into your account in as little as 24 hours.

The Bottom Line

If you haven’t found an online lender that fits your needs, you may consider StreetShares, particularly if you are a veteran. You’ll need to have an established business, since at a minimum, you’ll be required to be in business six months. (But depending on your situation, it could be  one year).There’s no word on whether veterans get preferential treatment with StreetShares, but the founders and many employees are vets.Looking for more small business loan options? With Lantern's help, you can spend less time searching for financing and more time growing your business.

Frequently Asked Questions

Does StreetShares Require Collateral?
Does StreetShares Offer Contract Financing?
Are StreetShares Loans Available to Non-Veteran Business Owners?

About the Author

Susan Guillory
Susan GuillorySusan Guillory is the president of Egg Marketing, a content marketing firm based in San Diego. She’s written several business books, and has been published on sites including Forbes, AllBusiness, and Cision. She enjoys writing about business and personal credit, financial strategies, loans, and credit cards. Follow her on Twitter @eggmarketing.