Our Take
4.1
NerdWallet rating
The bottom line:
QuickBridge stands out as a fast financing option for borrowers who may not qualify for more traditional business loans. QuickBridge generally has flexible eligibility requirements, although you’ll need strong revenue to get funded.
QuickBridge - Online term loan
Max Loan Amount
$500,000
Min. credit score
600
Apply now
with Fundera by NerdWallet
Pros & Cons
Pros
- Funding in as little as 24 hours.
- Startups and borrowers with bad credit may qualify.
- Prepayment discounts available.
- No collateral required.
Cons
- Requires higher annual revenue than other online lenders.
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Can’t build business credit.
- Charges an origination fee.
Full Review
QuickBridge is an online lender offering small-business loans that can be used for working capital, equipment purchases, business expansion and more. These short-term loans are available in amounts up to $
500000
.QuickBridge is known for its flexible qualification requirements and fast funding timeline. Borrower reviews also highlight the professionalism and attentiveness of QuickBridge’s loan officers.
QuickBridge is best for:
✔️ Fast access to capital.
✔️ Startups and/or borrowers with bad credit.
✔️ Prepayment discounts.
How much do you need?
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
QuickBridge loan features
Here’s what you can expect from QuickBridge’s short-term business loan:
4.1
NerdWallet ratingLoan amount | $ 6000 to $500000 . |
Estimated interest rate | QuickBridge quotes interest as a factor rate — which starts at 1.11. |
Fees |
|
Terms | 4 to 18 months. |
Repayment schedule | Daily or weekly. |
Funding speed | Approval as fast as the same day. Funding available in as little as 24 hours after approval. |
QuickBridge loan requirements
To qualify for a QuickBridge business loan, you’ll need to meet the following minimum requirements:
- Credit score:600.
- Time in business:6months.
- Annual revenue: $250000.
QuickBridge also requires that you have a business bank account.
Where QuickBridge stands out
Fast funding process
QuickBridge has a simple application process that can be completed in minutes. Once you’ve submitted your information, you’ll connect with a dedicated funding specialist. Your funding specialist will go over your financing options and collect any additional information the lender needs.
You may be able to receive an approval decision as fast as the same day. After you’re approved, you can get funding in as little as 24 hours.
» Is speed a priority? Compare the best fast business loans
Low credit score and time in business requirements
To qualify for a bank or SBA loan, you’ll likely need at least two years in business and a personal credit score of 690 or higher. With QuickBridge, on the other hand, these requirements are much more flexible; you’ll only need a minimum credit score of
600
and at least 6
months in business. As a result, QuickBridge can be a good option for startups and/or borrowers with bad credit.Early repayment discount
Instead of charging prepayment penalties, QuickBridge offers a discount to borrowers who can repay their loan early. Before you accept your loan agreement, QuickBridge will provide you with the early payment discount amounts and details of the offer.
To receive the prepayment discount, you must pay off your balance in full, be current and be in good standing within the given time parameters.
Where QuickBridge falls short
Charges interest as a factor rate
QuickBridge charges interest on its business loans as a factor rate. A factor rate is multiplied by your loan amount to calculate the total amount you’ll need to pay back to the lender.
For example, say you have a $50,000 loan with a factor rate of 1.11. You’ll multiply $50,000 by 1.11 to get $55,500 — the total amount you’ll be paying to your lender. Based on the way factor rates work, the cost of your loan can quickly grow with a slight change in rate. If you have the same $50,000 loan with a factor rate of 1.3, you’ll end up paying back $65,000 — $9,500 more than you were paying with a factor rate of 1.1.
Compared with more traditional business loan rates, factor rates can also be hard to understand and more difficult to compare loan costs with other lenders. Converting your factor rate into an annual percentage rate (APR) can give you a better understanding of how much your loan costs.
High annual revenue requirement
QuickBridge requires you to have $
250000
in annual revenue to qualify for one of its loans. This requirement is higher than many online competitors and even some bank lenders. OnDeck and iBusiness Funding, for example, both of which offer online term loans, only require $
100000
and $50000
per year, respectively. Similarly, Bank of America’s unsecured term loan requires $100000
in annual revenue.If you’re still building your business’s revenue, you might look into the best low-revenue business loans.
Limited information available online
QuickBridge provides limited details about its business loans on its website — meaning borrowers have to reach out to a company representative or submit an application for more information. For instance, QuickBridge doesn’t disclose its minimum credit score requirement, repayment terms, factor rates or origination fees. NerdWallet gathered that information from the lender.
What borrowers say about QuickBridge
NerdWallet checked online forums like Reddit and review sites like TrustPilot to gauge borrowers' experience with QuickBridge. We used an AI tool to help analyze this feedback. Here are the major trends we spotted.
👍 Fast funding process
Borrowers like QuickBridge’s speedy loan approval process. Some borrowers even highlight that they were able to receive funds within 24 hours.
👍 Customer service
Many borrowers appreciate QuickBridge’s responsive customer service team. Reviewers mention that loan representatives are professional, communicative and do a good job of guiding them throughout the process.
👎 Cost
Some borrowers express concern over the high cost of financing, especially compared with more traditional lenders. Reviewers highlight the importance of thoroughly reading over the loan terms and rates before signing an agreement.
👎 Direct mail marketing
Certain borrowers report receiving unsolicited mail from QuickBridge — some of which include pre-approved loan offers or credit cards. Reviewers tend to find this marketing tactic confusing, aggressive and potentially misleading. QuickBridge responds to many of these borrowers, explaining that mailers are sent to businesses based on information it receives from external list providers. You can reach out to the lender to be removed from these mailing lists.
Alternatives to QuickBridge
Rapid Finance
Rapid Finance
Rapid Finance - Online term loan
NerdWallet Rating
4.3
Max Loan Amount
$1,000,000
Read Review
Apply now
with Fundera by NerdWallet
Like QuickBridge, Rapid Finance is an online lender that issues business term loans. Rapid, however, offers larger loan amounts (up to $1 million) and longer repayment terms (up to
60
months). And whereas QuickBridge only offers daily or weekly repayment plans, Rapid Finance offers daily, weekly or monthly.Rapid can be a good option if you’re a more established business, but have a lower credit score and/or less revenue than QuickBridge requires. To qualify for a loan from Rapid Finance, you’ll need a minimum credit score of
550
, at least $120000
in annual revenue and at least 24
months in business.OnDeck
OnDeck
OnDeck - Online term loan
NerdWallet Rating
4.8
Max Loan Amount
$250,000
Read Review
Apply now
with Fundera by NerdWallet
OnDeck offers online, short-term business loans of up to $
250000
. This lender has a lower minimum annual revenue requirement — $100000
— compared to QuickBridge’s $250000
. You will, however, need at least 12
months in business and a minimum credit score of 625
to qualify for OnDeck. OnDeck can be a good option if you want slightly longer repayment terms, up to
24
months. OnDeck also reports to the commercial credit bureaus, allowing you to build business credit, which you can’t do with QuickBridge.Plus, if you’d like the flexibility of a business line of credit instead of a term loan, OnDeck also offers credit lines of up to $
100000
.» Want to consider additional alternatives? Check out our list of the best online business loans.
Frequently asked questions
Yes. QuickBridge is a legitimate online lender that has been in business for 13 years. According to its website, QuickBridge has funded over 25,000 small-business owners. QuickBridge is also a Better Business Bureau-accredited company with an A+ rating. The lender has a 4.8-star rating on Trustpilot, based on over 500 customer reviews posted on that site.
To qualify for a business loan from QuickBridge, you’ll need a minimum personal credit score of at least
600
.Apply now
with Fundera by NerdWallet
Methodology
NerdWallet’s review process evaluates and rates small-business loan products from traditional banks and online lenders. We collect over 30 data points on each lender using company websites and public documents. We may also go through a lender’s initial application flow and reach out to company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer small-business friendly features, including: transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to business credit bureaus and responsible lending practices. We weigh these factors based on our assessment of which are the most important to small-business owners and how meaningfully they impact borrowers’ experiences.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodology for small-business loans and our editorial guidelines.
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