RapidAdvance and LiftForward: A Variety of Loan Products for Small Business Owners

RapidAdvance and LiftForward: A Variety of Loan Products for Small Business Owners

RapidAdvance and LiftForward: A Variety of Loan Products for Small Business Owners

RapidAdvance and LiftForward are two lenders that offer a variety of lending products for business owners. For the large majority of people who are not well versed in the 40+ types of business financing, these products may seem confusing. If you are considering a loan from RapidAdvance or LiftForward, check below to find out what to expect from each of these loan products.


RapidAdvance offers 5 loan products — in a rough order from least to most expensive, they are:

  1. Preferred Rate Loan – for businesses with excellent credit and many years in business
  2. Small Business Loans – for businesses with good credit and a couple years in business
  3. SBA Bridge Loans – for businesses applying for SBA loans that need financing while they wait
  4. Lines of Credit – for seasonal businesses or those with irregular cash flow that need flexible financing
  5. Merchant Cash Advances – for businesses who can’t qualify for a traditional loan or other type of financing — this is a very expensive option.

Using an APR calculator, we can see that the APR on the preferred rate loan is close to 30%. That’s RapidAdvance’s lowest rate loan. These preferred rate loans are only for businesses with more than 4 years in business, and a personal credit score of 660 or above. If you meet these qualifications and have a little time to wait for the money, you may want to check first with your bank or an SBA loan provider, who will be able to give you a much lower rate (less than 10% APR).

RapidAdvance’s small business loan product is similar to the preferred loan product, with less strict requirements and higher rates. Business owners must have a personal credit score of 600+ and two or more years in business. The small business loan product has an added origination fee of 2.5%, which can be waived by your dedicated account executive.

The Merchant Cash Advance is two separate products, one for experienced businesses and the other for startups. Businesses with 3 months of credit card sales can secure up to 50% of their average monthly sales volume. Businesses with 3+ years in business can secure up to 250% of their monthly sales volume. However, if you’ve been in business for three or more years, it’s typically worth it to shop for a small business loan or a line of credit from a bank or other lender to try and secure the lowest interest rates.

Here’s what three of RapidAdvance’s loan products look like.

Preferred Rate loan Small Business loan Merchant Cash Advance
Minimum years in business 4+ years in business 2+ years in business Premium MCA: 3+ years in business

Starter MCA: 3+ months

Minimum personal credit score 660 600 550
How much can I get? $25,000 – $100,000 Up to $500,000 Premium MCA: 85% – 250% of average monthly sales volume

Starter MCA: 50% of average monthly sales volume

Repayment period 9 – 18 months 9 – 18 months 3 – 12 months
Time to fund 3+ days 3+ days 3+ days



LiftForward offers small business loans for three separate purposes:

  1. Working capital – for day-to-day operations
  2. Purchase order financing – to fill specific customer orders
  3. Asset based loans – a loan secured by assets, such as your business inventory.

LiftForward offers these loans from $10,000 – $1M with interest rates starting at 8%. They charge a 2% origination fee, and they claim that you can be approved in less than 48 hours.

If you were seeking an $80,000 loan over 12 months, the cost of the loan would break down like so:

  • $1,600 origination fee
  • 0.67% – 3% interest per month
  • $7,100.75 – $8,219.22 estimated monthly payment
  • ($5,209.00 to $18,630.62) + $1,600 origination fee = $6,809.00 – $20,230.62 total cost

LiftForward’s approach is a bit more personal because they work with their clients to structure a loan, and are flexible about changing the loan amount over time as the clients’ needs change.

Should I Get a Loan from RapidAdvance or LiftForward?

LiftForward Small Business Loans RapidAdvance Small Business Loan*
Qualifications Looks personal credit score, years in business, business revenue projection, credit history, desired use of funds, etc. 2+ years in business
Personal credit min 620+ 600+
Amount $10,000 – $1M Up to $500K
Rate 0.67% – 3% per month +

2% origination fee

1.25% lowest rate per month.

Or, 29%+ APR

Origination fee 2% 2.5%. Can be waived.
Repayment period Up to 60 months 9 – 18 months
Time to fund 3+ days 3+ days

Personal guarantee

personal guarantee personal guarantee

* RapidAdvance information and rates included are only for the small business loan product. Information regarding RapidAdvance’s other products, including the Merchant Cash Advance, line of credit, and Bridge Loan product will be different.


The price tag on loans from RapidAdvance and LiftForward can be high — if cost is your main concern, it would be wise to apply to other loan providers as well as LiftForward or RapidAdvance and compare your options. In particular, if you are considering a loan from RapidAdvance, make sure your dedicated account representative goes over all the costs and fees with you before you close the loan.

If you’ve had trouble qualifying for a traditional loan with lower interest rates because your credit scores or other factors aren’t up to snuff, LiftForward and RapidAdvance are worth a look. LiftForward will even work with you to create the loan that best fits your needs.

This article was originally written on September 23, 2015 and updated on December 22, 2021.

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