Expert LoanBuilder Review 2019

Business loans provide financing to help expand your business. Review and compare business loan services for the best rates and repayment terms.

Overview

As a PayPal service owned by Swift Financial, LoanBuilder is an established business loan provider specializing in short-term loans. LoanBuilder offers unique, customizable loans so that small businesses can tailor terms based on their needs and budget. PayPal acquired the company in 2017, and LoanBuilder has not only received an A+ rating from the Better Business Bureau but also has a nearly perfect score on Trustpilot.

Businesses in need of quick funds can apply for short-term loans and receive funding in as quickly as one business day. Their flexible loans allow businesses to adjust payments and terms according to needs and preferences. Applicants are eligible based on credit score, income, and period in operation. LoanBuilder has relatively low credit requirements, and even businesses with lower credit scores can qualify.

Loan Features

LoanBuilder’s quick and easy application process help small businesses get the funding they need with transparent repayment terms and fees. Applicants can receive loans with customizable terms between $5,000 up to $500,000. Their quick turnaround means that borrowers can receive funding in as little as one business day. LoanBuilder keeps it simple and requires fixed weekly loan payments and no origination fee.

Application Features

Prior to applying or signing anything, prospective borrowers can get all the information they need with the LoanBuilder Configurator. This online tool provides upfront estimates of loan terms and fees before submitting an application.

Before applying, LoanBuilder lays out some requirements for eligible businesses. Businesses must have been in operation for at least nine months with an annual revenue of at least $42,000. LoanBuilder requires applicants to have a credit score of at least 550 so even businesses with relatively poor credit can still qualify.

LoanBuilder specializes in providing short-term loans. During the application process, prospective borrowers can adjust loan terms and payments according to their needs. Small businesses can get quick funding in as quickly as within one business day.

Repayment Terms

LoanBuilder makes the most sense for businesses in need of quick funding with short repayment periods. Businesses can choose to repay loans from 13 to 52 weeks, depending on the loan amount. LoanBuilder requires weekly automated repayments, but customers also benefit from transparent terms with a single fixed fee cost.

Customer Support

LoanBuilder’s specialists are available online or through the toll-free telephone number to assist potential or current customers during business hours Monday through Saturday EST. The website also has a short FAQ to help new customers get started.

Joe Schwartz | Business Loans Editor

Our chief content editor, Joe manages a diverse team of content writers. He holds a degree in online communications and his writing has been featured in a wide range of online publications.

Pros
  • Customizable, transparent terms
  • Fast funding
  • Easy, fixed repayments
Cons
  • Short repayment periods
Bottom Line
LoanBuilder specializes in providing quick loans to small businesses with customizable terms and short-term repayment periods.
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5
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