StreetShares Business Loans and Main Street Service

StreetShares Business Loans are designed for small businesses and veterans, offering loans up to $100,000 with flexible repayment terms.

This is a key differentiator for StreetShares, as they cater to a specific demographic that may have been overlooked by traditional lenders.

StreetShares Main Street Service is a platform that connects small businesses with investors, allowing them to raise funds for their ventures.

By leveraging the power of crowdfunding, StreetShares enables small businesses to access the capital they need to grow and thrive.

StreetShares has a strong track record of supporting small businesses, with a high approval rate for loan applications.

StreetShares is a unique platform that connects small businesses with investors who can provide funding. They offer a more personal approach to borrowing, with a focus on building relationships between lenders and borrowers.

Their platform allows businesses to apply for loans of up to $100,000, with repayment terms ranging from 6 to 36 months. This flexibility makes it easier for businesses to manage their cash flow and make timely repayments.

StreetShares is committed to transparency and provides regular updates on loan performance, giving investors a clear picture of their investment's progress.

StreetShares is a veteran-owned and operated online marketplace that connects small business owners with investors. We were founded in 2013 by Brian Kalma and Mark L. Wilson.

Our mission is to provide alternative funding options for small businesses, allowing them to access the capital they need to grow and thrive. We've helped hundreds of businesses secure funding through our platform.

We're a team of passionate individuals who believe in the importance of supporting small businesses and promoting economic growth in local communities. Our team has a deep understanding of the challenges small business owners face and is committed to providing them with the resources they need to succeed.

StreetShares is a registered Small Business Administration (SBA) Preferred Lender, which means we have a proven track record of providing responsible and effective financing solutions to small businesses.

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The StreetShares Foundation is a vital part of the StreetShares community. Its mission is to encourage and support veteran small business owners.

The foundation presents a grant to 3 veteran-owned businesses each year. To apply, a business must meet certain requirements, which include being owned by a veteran or military member, being at least 21 years old, and being a legally incorporated business or a formal partnership or sole proprietorship.

The foundation looks for businesses with some sort of social impact on the veteran or military community. This can be in conjunction with or in addition to the primary business function.

Here are the requirements for applying to the StreetShares Foundation:

Once finalists are chosen, the public gets to vote on which businesses will receive prizes.

StreetShares offers a white-labeled service on behalf of banks and credit unions, allowing them to provide 3 to 36-month term business loans. This service is designed to help banks and credit unions offer financing to small businesses.

Borrowers must meet certain requirements, including being U.S. citizens or permanent residents, in business for at least one year, earning revenue, and having a business guarantor. StreetShares charges a pre-disclosed one-time origination fee based on term length, risk, and loan amount.

StreetShares has its own lending balance sheet, which enables the company to provide financing to non-finance companies as well. This flexibility makes StreetShares a top resource for small businesses owned by military veterans, according to Kedma Ough, a Small Business Development Center Director.

StreetShares offers a unique business model that allows banks and credit unions to offer term business loans to small business owners.

Borrowers must meet specific requirements, including being U.S. citizens or permanent residents, in business for at least one year, earning revenue, and having a business guarantor.

StreetShares charges a pre-disclosed one-time origination fee based on term length, risk, and loan amount.

This fee is a key part of the StreetShares business model, as it allows the company to generate revenue while also providing a valuable service to small business owners.

Funding for the loans can come from StreetShares' own balance sheet or directly from the banks and credit unions.

This flexibility is a major advantage of the StreetShares business model, as it allows the company to work with a wide range of partners and provide more options for small business owners.

StreetShares' auction model is also a key part of its business model, as it drives down costs and provides a competitive advantage over other lenders.

This model is particularly notable, as it may even preview the biggest competitive threat to popular alternative lender OnDeck.

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StreetShares offers a white-labeled service on behalf of banks and credit unions, allowing them to provide 3 to 36-month term business loans to borrowers.

Borrowers must be U.S. citizens or permanent residents, in business for at least one year, earning revenue, incorporated or LLC, and have a business guarantor.

StreetShares charges a pre-disclosed one-time origination fee based on term length, risk, and loan amount. Banks and credit unions pay a subscription fee for the technology.

Funding for the loans can come from StreetShares' own balance sheet or from the banks and credit unions directly. This flexibility makes the technology available to non-finance companies as well.

StreetShares offers a variety of financing and investment products with fast application processes and funds deposited almost immediately.

Lending products never have a pre-pay penalty, and the credit check is a soft one, so there is never any impact on your credit score for applying.

StreetShares offers several financing products, including Term Loans, which range up to $100,000 with terms from 3 to 36 months.

The Patriot Express Streetshares Line of Credit is a revolving line of credit for amounts up to $100,000, allowing you to draw only what you need when you need it, and only pay interest on what you used.

Contract Financing and Factoring are also available, allowing you to receive up to 90% of the total of unpaid invoices on a contract, and collect from the contractor, or collect a portion of your receivables from Streetshares while they collect the total amount from those who owe you.

StreetShares offers Veterans Business Bonds, which pay a flat 5% interest rate with as little as $25 to start, and can be withdrawn from in the first year with a 1% fee.

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As a Streetshares member, you'll enjoy a few exceptional benefits that make your experience even more rewarding. There are a few exceptional benefits when being a Streetshares member.

One of those benefits is access to exclusive perks that can help take your business to the next level.

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Traditional lenders often rely heavily on personal credit scores, but StreetShares takes a different approach. They consider other factors such as business credit, time in business, and annual business revenue.

StreetShares acknowledges that small businesses require special consideration, which is why they're willing to look beyond personal credit scores. This is a departure from traditional lenders.

By considering alternative factors, StreetShares aims to help small businesses thrive, which is a refreshing approach in the lending industry.

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Traditional lenders often rely heavily on personal credit scores, but non-traditional lenders like Streetshares consider other factors such as business credit, time in business, and annual business revenue.

Streetshares is willing to take a more nuanced approach, acknowledging that small businesses require special consideration.

Personal credit scores are not the only factor for Streetshares, but it's not entirely clear how much weight they give to other factors.

Non-traditional lenders like Streetshares are set up to help small businesses thrive, which is a departure from traditional lenders.

Streetshares is one such company that claims to consider other factors, but it's not entirely clear how this works in practice.

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The Better Business Bureau is an essential resource when researching online lenders. Their website provides a wealth of information about companies, including Streetshares.

You can find Streetshares' profile on the Better Business Bureau, which reveals an A+ rating. This suggests that the company has a strong reputation and is committed to customer satisfaction.

There are only two complaints on file, both of which relate to unwanted solicitation. The company has responded to each complaint, stating that the individuals were removed from their list.

Three reviews are available on the Better Business Bureau, each of which relates to the investing option. Two of these reviews are 3-star ratings, citing concerns about financial transparency and the need for more time to form an opinion.

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To get started with StreetShares financing, you'll need to meet their basic loan pre-approval qualification requirements.

At least one year in business is typically required, but in some cases, six months may be enough.

You'll also need to have a business guarantor with reasonable credit.

To apply, you'll need to have some essential information ready, including your business owner's social security number.

Six months of your most recent bank statements will also be required.

In some cases, financial statements may also be requested, which can include a Profit and Loss statement, a Balance Sheet, and other information as needed.

If you use QuickBooks Online, their system can review your financial information directly, making the process faster.

Approval for StreetShares financing is typically granted the same day as application, and funds can be in your account within three days.

StreetShares has changed their policy on closing costs, now disbursing all funds to the borrower who can then choose to roll them into the payment or pay them back immediately.

The new policy allows borrowers to have more control over their funds based on their individual business needs.

StreetShares made this change in mid-2018.

Members of StreetShares enjoy discounts at various retailers, including discounts on bookkeeping services, services offered by Amazon, and combat attire.

StreetShares offers a Best Price Guarantee, which means they will beat or match a competitor's offer, or give you a $100 gift card.

To qualify for the Best Price Guarantee, you must have a loan offer from StreetShares that has been fully underwritten and an approved and underwritten offer from a competitor lender.

Here are the details of the Best Price Guarantee:

Streetshares offers a Best Price Guarantee to ensure you get the best deal on small business financing. This guarantee is a major perk for businesses looking to save money.

To qualify for the Best Price Guarantee, you'll need to have a loan offer from Streetshares that's been fully underwritten, as well as an approved and underwritten offer from a competitor lender. You'll also need to provide proof of the competitor's offer.

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Streetshares will then compare their offer to the competitor's and make changes to beat or match the competitor's deal, including lowering fees or interest rates. If they can't beat the competitor's offer, you'll receive a $100 Amazon gift card.

The Best Price Guarantee applies to online lenders, which are defined as for-profit lending agencies that don't offer traditional banking services. Some examples of online lenders that qualify for this guarantee include 1st Global Capital, Advance Capital, and Kabbage.

Here are some key details about the Best Price Guarantee:

Streetshares' Best Price Guarantee is a serious commitment to providing the best deals for small businesses. By offering a clear and transparent process, they're showing that they're willing to put their money where their mouth is.

Streetshares changed their policy on closing costs mid-2018, which affected how borrowers receive their funds.

Previously, closing costs came out of the funds before they were disbursed to the borrower. Now, borrowers receive all their funds upfront.

This change allows borrowers to have more control over how they use their money, based on the needs of their business.

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StreetShares is a unique online marketplace that allows accredited investors to lend money to small businesses and entrepreneurs.

The company was founded in 2013 by Mark Rockefeller and Brian Pfohl.

StreetShares offers a range of loan products, including short-term lines of credit and longer-term loans.

The platform is designed to provide small businesses with access to capital, often when traditional lenders may not be available.

StreetShares is headquartered in Arlington, Virginia, and has a team of experienced professionals who work with businesses to find the right loan solution.