Decoding a Loan Offer from BondStreet

Decoding a Loan Offer from BondStreet

Decoding a Loan Offer from BondStreet

Bond Street, a business lender which made its first loan a year ago recently closed $110M of financing from Spark Capital and Jefferies. From the first look, they are an online term loan lender just like FundingCircle or Dealstruck. We decided to do a deep dive on their application. Here is what we found.

Rates & Fees & Requirements

Their APRs are between 8-25% for loans that will be repaid in 1-3 years. The basic requirements are 2 years in business with 200K+ annual revenue, 640+ FICO and owners’ personal guarantee. Overall, it’s very similar to most other online term loan lenders.

Screenshot of the cost page

The Application

First, we created our account with an email and password.

Screenshot of the application page

After the account is created, we entered our loan request. It’s a $50K 3 year term loan for remodeling my hair salon.

Screenshot of the loan amount page

Put in my personal information.

Screenshot of the personal info page

Put in business information.

Screenshot of the business info page

It asked me to link accounting software. But … I don’t use cloud accounting software. I clicked on “Not Sure”.

Screenshot of the accounting page

They wanted me to authorize them to request tax returns from IRS directly.

Screenshot of the tax info page

Sure. I will do it.

Screenshot of the credit team page

Next, they want me to connect my bank account.

Screenshot of the bank page

I logged into Chase.

Screenshot of the bank login page

That’s it. Time to review my information. I clicked on Submit.

Screenshot of the submit page

Application sent!

Screenshot of the application sent page

I should attach additional files. I am not sure what this is but I suppose bank statements and financial statements will need to be uploaded at some point.

Screenshot of the attach files page

The application is very simple. But I suppose some of the information is moved to offline if you didn’t have the accounting software integration. It also didn’t give us an instant quote on the interest rate so we were not clear what interest rate we will be getting with our business/personal financial profile.

I spoke to a Bond Street representative on the phone. He said they would follow up with a phone call after the application is submitted. Once they have all the financial and credit history information available, they can price it within 48 hours. Once all the financial statements, bank and tax return information is obtained, verified and approved, they can send the money in just a couple of days. It all sounds very similar to other online term loan lenders but it’s good to have another option to go for.


Overall, Bond Street seems like a very reasonable term loan product for more established businesses. From my brief phone conversation with the rep, he told me they lend to most industries but they like to help businesses expand to multiple locations or refinance their existing debt. They are still relatively new in the market but they wish to create a product with great user experience and business first mindset. We will keep Bond Street under our radar. If you are an established business, it could potentially be a good financing option .

This article was originally written on July 23, 2015 and updated on December 14, 2021.

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