SBG Funding Business Loans Review
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Pros and cons of
Pros
- Same-day funding available
- Funds business owners with fair credit
- Short time-in-business requirement for non-SBA loans
- No hard credit checks
- No prepayment penalties
Cons
- High annual revenue requirement
- Lists monthly rates rather than an annual rate, making it more difficult to compare costs
- Collateral is required for equipment and SBA loans
small business loans review
- Startups with high revenue. If your company has been running for at least six months with a robust cash flow, accepts fair credit scores as low as , although having a higher credit score will likely unlock more competitive rates and terms.
- Companies that need fast access to large loan amounts. You can typically receive funding within 24 hours of approval, with loan amounts going as high as .
small business financing at a glance
Here’s how the terms break down for financing option. Keep in mind that the interest rate here is monthly interest, not annual. That means that the interest percentage shown is charged each month, making it higher than an APR with the same number.
| Product | Loan amounts | Repayment term | Starting monthly interest | Payment options This refers to how often you’ll need to make payments on the loan |
|---|---|---|---|---|
| Term loans | Up to | months | Bi-weekly or monthly | |
| Lines of credit | Up to | months (revolving) | Weekly or monthly | |
| Bridge capital loans | Up to | months | Weekly or monthly | |
| Equipment financing | Up to 100% of equipment value | months | Automatic monthly payments | |
| Invoice financing | Up to 90% of eligible receivables | Not specified | per week | Weekly or monthly |
| SBA 7(a) | Up to | months | Based on the current prime rate of plus 2.5% added by SBG Funding | Monthly |
Term loans
Lines of credit
If you need ongoing access to funds, line of credit goes up to with weekly or monthly payments required.
Bridge capital loans
Commercial bridge loans provide short-term funds to cover essential business expenses while you wait to secure long-term financing. offers bridge capital loans up to with weekly or monthly payments required.
One perk to getting a bridge loan with is you may be eligible for a discount if you repay the loan ahead of schedule. However, if you don’t think you can keep up with the short repayment term, you might want to consider a long-term loan instead.
Equipment financing
If you need to replace, upgrade or purchase new equipment for your business, covers up to 100% of the equipment’s value with its equipment loan. Monthly interest rates start at
With can seize the equipment and potentially sue your business for any remaining balance.
Invoice financing
Invoice financing, also called accounts receivable financing, is when you use your business’s unpaid invoices as collateral to secure financing. allows you to pick specific invoices to qualify for financing, giving you more time to focus on your business while you wait to get paid.
You can receive up to 90% of the invoice’s face value, with interest starting at a month and no specified repayment terms. Keep in mind that this is different from invoice factoring, which provides an advance for your unpaid invoices and then collects customer payments on your behalf.
SBA 7(a) loans
also provides SBA 7(a) loans up to Based on the current prime rate of 7.75% plus 2.5% added by and -months repayment terms. Since the Small Business Administration (SBA) guarantees a portion of these loans, SBA financing typically comes with low-interest rates, longer repayment terms and local assistance from SBA resource partners.
Note that has stricter eligibility criteria for its SBA 7(a) loans compared to its other products, requiring two or more years in business and a slightly higher credit score. Startups and low-credit borrowers may want to consider other options.
borrower requirements
| Minimum annual revenue | $350,000 |
| Minimum time in business |
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| Minimum credit score |
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requires $350,000 in minimum annual revenue, regardless of which financing type you want to get. Because of this, low-revenue startups may want to consider alternative funding options like crowdfunding or personal loans for business.
Required documents
When applying for a business loan with , you may need to provide the following information and documents:
- Four months of bank statements
- Identification (like a driver’s license)
- Voided check
Alternatives to
| Minimum credit score |
| Not disclosed |
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| Loan products offered |
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| Time to funding | Same-day funding available | Not disclosed |
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| Starting rates |
| Not disclosed |
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| Maximum loan size | |||
| Minimum annual revenue | $350,000 | Not disclosed |
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vs.
As an SBA-preferred lender, was ranked #1 in fiscal year 2024 for providing the largest SBA funding amounts nationwide. Meanwhile, has limited information about its SBA loans, such as how many loans are approved each year, average funding amounts and typical turnaround times.
It’s difficult to compare rates and eligibility criteria between the two lenders since doesn’t disclose any of this information in advance. You can apply to both and see which lender offers the better deal.
vs.
If you want access to a wider range of financing options, provides 10 loan products versus only six with . with no business history required. In comparison, requires a minimum credit score of with at least six months of operation.
Funding speed between the two lenders is similar, with both offering quick approvals and delivering non-SBA loan funds within 24 hours. However, is better for low-revenue companies, with no revenue requirements for several of its products. Meanwhile, requires a minimum of $350,000 in annual revenue for all of its financing options.
Although business loan rates appear lower than , it’s hard to know which lender will offer the best overall rate since doesn’t list its upper ranges. In addition, some of products are listed as factor rates instead of interest or APR, making it like comparing apples to oranges. If you can’t decide which lender is best for you, try applying to both and see which provides the best offer. Just be sure to convert all rates to one metric to ensure you pick the most competitive rate.
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