QuickBridge Review

7.2

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QuickBridge

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QuickBridge Reviews

7.2

WRITTEN BY

Lauren Le-Hair

Discounts of up to 6% available for early repayments

About QuickBridge

QuickBridge is an online lender that provides small businesses with swift and flexible financial solutions and loans. Founded in 2011, the company is currently based out of Irvine, California. Its primary focus is on providing small businesses with short-term funding, with loan amounts available up to an incredible $500,000.

QuickBridge offers a simple application process that is attractive compared to the typical red tape you’d need to go through to get a bank loan for your business. QuickBridge operates nationwide and is known for its flexibility, with loans available for multiple purposes.

7.2

LS SCORE

6.7

CREDIBILITY

8.2

SUPPORT

6.3

ACCESSIBILITY

Business Loans

Business Loans

QuickBridge Business Loans Review

QuickBridge offers its customers a straightforward process of getting small business loans. Small business loans can be used for many purposes, including working capital, emergency funding, business debt refinancing, or business expansion. These loans are offered at a factor rate, not an APR, and are for terms of up to 24 months.

The brand states that its ‘bread & butter’ is to serve business owners who need a business loan quickly and to go through a familiar & friendly process. Moreover, they pride themselves on taking the time to learn their client’s business and calculate the best way to serve them.

QuickBridge Business Loans Highlights

LOAN AMOUNT

$10,000 - $500,000

LOAN REPAYMENT TERM

12-24 months

FUNDING TIME

48 hours

TIME IN BUSINESS

6 months

ANNUAL REVENUE

$250,000

ORIGINATION FEE

1% - 3%

PREPAYMENT FEE

None

OTHER FEES

Late fees

MIN CREDIT SCORE

600

SOFT CREDIT PULL

Yes

LENDER TYPE

Direct

Pros & Cons

Quick funding available
Easy application process
Early repayment discounts
Limited restrictions on the use of funds

No website visibility on fees or loan terms until after the hard credit pull
Origination fee charged
The $250,000 annual revenue requirement will exclude many small businesses

QuickBridge Business Loans Terms & Requirements

Small Business Loans

QuickBridge offers unsecured small business loans of up to $500,000, which businesses can use for working capital management, emergency business loans, business expansion, and more. QuickBridge offers small business loans at a factor rate – not your standard APR. Factor rates start at 1.1 and can be simpler to understand than APR, as you simply multiply the factor rate by the borrowed amount. This differs from APR, as APR is always an annualized amount.

The company does not disclose its factor rates until you undergo a hard credit check. Therefore, it is hard to recommend the QuickBridge Small Business Loan. Yet, we know that rates start from 1.1. While this is a reasonable rate, it will likely only be available to businesses with excellent credit ratings.

Terms for small business loans are available for up to 24 months, so you should only consider this as a short to medium-term solution to your financing needs. Payments for Small Business Loans from QuickBridge are made daily or weekly.

How to Apply

The application process for a Small Business Loan from QuickBridge was as easy as advertised. There were multiple areas to start the process on its well-laid-out homepage.

Step11

Step 1: Select Get Funding to start

After selecting “Get Funding”, we were welcomed with a simple form requiring basic information, including our estimated annual gross sales.

We were then directed to a two-step funding request form. The first stage asked for our business name and address. We also provided our contact details for our funding advisor, including name, email address, and phone number. The second step asked for personal information, including home address and date of birth.

This generated a prequalifying loan form that required signing, stating that all facts given in the application were correct. After signing this, we were invited to share bank statement details and connect the bank account into which we wanted to receive funds.

This process was very straightforward, and QuickBridge used this information to verify our identity. We then requested our loan amount and ticked to approve a hard credit check. After this, we were then able to review loan terms, including the factor rates charged.

Overall, we found the application process very straightforward and easy to use. However, we would have liked to have seen the range of factor rates offered before approving a hard credit check.

Qualification Requirements

To be considered for funding from QuickBridge, your business will need to meet the following requirements:

Be operating for more than 6 months
Have over $21,000 in monthly revenue
Have no open or dismissed bankruptcies in the past year
Have a credit score of 600 or higher

Required Information

QuickBridge requires the following when considering your funding application:

Proof of applicant’s ID
Proof of business ownership
Three months’ recent bank statements
Up-to-date financial statements
Most recent tax returns

Application Steps & Time Frames

The Small Business Loan funding application took us less than ten minutes, including syncing up our bank statement for the credit check process. It is one of the easier application processes available. If your application is approved, you can expect funds in your bank account within 24-48 hours, making it a rapid funding turnaround.

State Availability

Available in all states

Privacy & Security

QuickBridge has an A rating with the Better Business Bureau, which requires excellent privacy and security practices to achieve such a high rating. The company also boasts a very high score on Trustpilot of 4.7/5 stars. Ultimately, this is a good indication that QuickBridge takes the privacy and security needs of its customers seriously. Otherwise, this score would be much lower.

You can also find a detailed Privacy Policy online, which outlines how the company will handle your personal data. On review of this policy, QuickBrudge’s data treatment appears standard. Still, should you wish to opt out, the site offers an email address you can contact.

Customer Support

While QuickBridge offers limited customer support channels, the options we tried did have very responsive customer service agents. You can reach the friendly yet professional QuickBridge customer service staff via email and phone.

During our QuickBridge review, we decided to give the team a call. QuickBridge answered this immediately, meaning we didn’t have to wait around to be connected to the right departments. When we asked about lending rates, the agent couldn’t give us a direct answer since these depend on business circumstances. Still, they were polite and helpful in explaining how we could get to this stage. Full details of QuickBridge’s customer support are shown below.

Phone Support

(888) 233-9085

Mon - Fri

6:30 AM – 5:00 PM

Sat - Sun

Closed

Email Support

info@quickbridge.com

Social Media

In Conclusion

If your small business needs a loan at short notice, then QuickBridge is worth considering. While we would like more information on its website about rates and borrowing terms, the positive reviews online indicate that the company is safe and secure. The loans offered are flexible, and customer service is good, further suggesting that it is worthy of consideration.

FAQ

How much can I borrow with QuickBridge?

QuickBridge offers loan funding of between $10,000 and $500,000

Can start-ups apply for a business loan with QuickBridge?

No, your business will need to have been operating for at least 6 months

Are QuickBridge loans available in all states?

Yes, you can apply for a QuickBridge business loan from all 50 US states.

QuickBridge Disclaimer

QuickBridge offers working capital loans and related services (“Service”) to small businesses in need of financing to sustain and grow their enterprise. By accessing our site, you agree to each of the terms and conditions set forth herein (“Terms of Use”) and the terms and conditions of Quick Bridge Funding, LLC Privacy policy, which is published on: quickbridge.com (the “Website”), and which are incorporated herein by reference. If you do not agree to any of these terms, please do not use the Website or the Services. QuickBridge reserves the right to update the content of its website, including the Terms of Use, at any time without prior notice.

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