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Short-Term Loan by Rapid Finance

Short-Term Loan by Rapid Finance

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Whether you need funds to supplement existing traditional financing, or alternative working capital, Rapid offers fast and flexible solutions to support your business.

Nav's Verdict

Cost

LowHigh

Effort to Apply

EasyDifficult

Funding Speed

MonthsMinutes

Repayment Terms

MonthsYears

4/10

Bottom Line

Receive up to $600,000 in funds in as little as 24 hours, to use for any business purpose. Repayment terms of up to 18 months, with daily and weekly repayment options.

Pros

Loan approval within 24 hours. Repayment terms up to 18 months. Growth capital up to $1,000,000.

Cons

Rates vary based on industry and risk scoring model.

Qualification requirements

Time in Business

At least 36 months in business

Annual Revenue

At least $120,000

Personal Credit Score

At least 620

Required Documentation

Government-issued photo ID, voided check from your business checking account, last 3 statements from your business bank account, however, current month-to-date bank statement not required.

Origination fees

Origination Fees

No origination fees

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Cost

Factor Rates as low as 1.20

Repayment Duration

4 to 18 months, daily and weekly payments

Funding Amount

$5,000 to $600,000

Funding Speed

As fast as same day

Application

Online + phone call

Repayment Terms

4 to 18 months, daily and weekly payments

Reviews

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Personal FICO credit scores and other credit scores are used to represent the creditworthiness of a person and may be one indicator to the credit or financing type you are eligible for. Nav uses the Vantage 3.0 credit score to determine which credit offers are recommended which may differ from the credit score used by lenders and service providers. However, credit score alone does not guarantee or imply approval for any credit card, financing, or service offer.

Editorial Disclosure

Any personal views and opinions expressed are author’s alone, and do not necessarily reflect the viewpoint of Nav. Editorial content is not those of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities.

Reviews are not provided or commissioned by the credit card, financing and service companies that appear in this site. Reviews have not been reviewed, approved or otherwise endorsed by the credit card, financing and service companies and it is not their responsibility to ensure all posts and/or questions are answered.