Become offers unsecured business loans to companies that have been in business for as little as four months. Business loans from Become can be used for any business purpose, such as increasing cash flow, paying expenses, purchasing inventory, hiring employees, and upgrading equipment. Become’s terms are difficult to discern based on them using over 50 lenders with different terms and rates.
Become Business Loans Review
Become’s online service is dedicated to helping businesses procure loans through a variety of lenders. Become is not a bank or finance company.
Become Business Loans Highlights
LOAN AMOUNT
$5,000 - $500,000
LOAN REPAYMENT TERM
12 months to 60 months
FUNDING TIME
3 hours
TIME IN BUSINESS
4 months
ANNUAL REVENUE
$4,000
ORIGINATION FEE
None
PREPAYMENT FEE
None
MIN CREDIT SCORE
500
SOFT CREDIT PULL
Yes
LENDER TYPE
Marketplace
Pros & Cons
- Compares funding offers through multiple lenders to secure the most favorable terms for the borrower
- Assists businesses with improving their credit
- Has a good reputation and positive online reviews
- Does not disclose business loan interest rates on website
- No personal loans offered
- Provides matching services with lenders, no customer support
Business Loans Type
- SBA Loans
- Business Line of Credit
- Invoice Factoring
- Equipment Financing
- Merchant Cash Advances
Become Business Loans Terms & Requirements
How to Apply
Become’s application is completed online. However, when attempting to apply for a business loan with Become, we were met repeatedly with an error message regardless of which website page we tried to apply from:
Screen 1
Qualification Requirements
- Minimum of four months in business with $10,000 monthly revenue of 6 months in business with $3,000 monthly revenue
- Provide business bank statements
- Provide other documentation depending on the lender
Required Information
- Business bank statements
- Additional documentation, if requested by the lender
Application Steps & Time Frames
- Apply online for a business loan
- Wait 1-3 hours for approval
- Receive funding quickly as three hours
State Availability
Available in all states
Customer Support
Become offers new account sales information via telephone and email. It does not provide a live chat service.
Their toll-free number is a sales line. Any support for existing customers is offered through the lender they were matched with by Become.
We found Become’s telephone sales to be unresponsive. Our call went directly to an automated message saying our phone number had been recorded and we would receive a callback. Unfortunately, no time frame was given for the return call, and three days later no callback had been received.
Email Support
partnership@become.co
Social Media
In Conclusion
After purchasing Lending Express, the company rebranded itself as Become in 2019. The company is long on providing product information on its website but short on providing telephone access for prospective customers inquiring about loans.
FAQ
Become states that loan repayments are not based on interest rates but a total payback amount, which is agreed upon upfront.
Become lends to U.S. businesses across all for-profit industries.
Applying for a loan through Become takes just a few minutes. Loan partners generally approve qualified loan applications quickly. Businesses can get funded in as little as 3 hours. This time frame depends on the loan provider receiving all required documentation on time.
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Having spent over fifteen years helping people plan their lives financially, Bob has a vast amount of knowledge concerning personal finance. During his career, Bob mastered many different financial products to help people achieve their financial goals, including life insurance, disability insurance, mutual funds, and stocks and bonds. He earned the Chartered Life Underwriter (CLU) designation and held numerous securities licenses. Bob is an internationally published poet and is now a freelance writer living in North Texas with his wife and Doberman puppy.
6.4
LS SCORE
6.6
CREDIBILITY
6.2
SUPPORT
6.0
ACCESSIBILITY
Email Support
partnership@become.co
Social Media
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