SmartBiz Loans
SmartBiz Loans
Overall Satisfaction Rating
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 star
Based on 39 reviews that contain star ratings
Show rating distribution

SmartBiz Loans

ConsumerAffairs Accredited Brand

Founded in 2009, SmartBiz Loans provides SBA Loans through a quick and easy three step process. The first step is to prequalify using the secure software. Once you are prequalified, you will work with a SmartBiz Relationship Manager to plan the use of your funds and provide financial information. After confirming your business’ financials, funds can be imported into your account in as little as 7 days after your completed application.

The SmartBiz platform was created to reduce high cost APRs for small businesses making it easier for those businesses to receive loans. The SmartBiz team is committed to providing quality customer service.


BBB Rating
Read More Read More
Select stars to rate your experience
Very dissatisfied with the experience
Dissatisfied with the experience
Satisfied with the experience
Happy with the experience
Would recommend to a friend
Last updated: Nov. 7, 2017

39 SmartBiz Loans Consumer Reviews and Complaints

Filter by:
Verified Reviewer
Original review: Nov. 7, 2017

We were expanding into a new line of business and wanted to consolidate some stuff. Spreadex Financial referred SmartBiz Loans, and they made it really easy, even if I had to get some stuff. Alex was constantly in contact with me and walked me through every step of the process. He helped me get the right stuff and made sure we had what we needed before we submitted everything so that there weren't a lot of things going back and forth. The process took three weeks. There was a little bit of time at the beginning when I was dragging my feet in getting documents ready. They are easy to deal with and very thorough on their end. I recommend them to anybody who's looking to expand or looking to consolidate any financing.

Get expert advice delivered right to your inbox

We try to avoid the fluff and deliver tips and guides that really matter

Thank you, you have successfully subscribed to our newsletter!Enjoy reading our tips and recommendations.
Unsubscribe easily whenever you want
Verified Reviewer
Original review: Oct. 12, 2017

I used a couple of financial providers and SmartBiz’s product was offering an interest rate and a program that was a good fit for my business. So, I got an SBA program loan through a bank guaranteed by Small Business Administration for our tax quote issues. They provided the capital we needed to manage our seasonal calendar.

They got a web vehicle for a person who's wired for fill in the blanks from very complicated tax returns to all accounts and it monitored the progress all the way through. I went through it and it was fine, but I got stuck. I had a meltdown over the fact that my account structured the information differently so I just quit. About three days later, I got a phone call from their rep who was assigned to the project because I had gone far enough in the process clearly to give them my contact information. She was the only person I ever dealt with all the way through. She let me send her all of my data and she plugged it in. Then all of a sudden, I was back with their online process about three-quarters of the way. I could see the progress and it was phenomenal. She also emailed me and told me what's next, some of them I could anticipate and some I could not. It was an accommodating experience.

I went through another organization that worked very similarly. They were not professional and as a result, there were surprises along the way. The loan amount at the end of the process was half of what I applied for and I never was notified that we were working on a lower amount. But with SmartBiz, their system based-business was cool. They did a volume business and they tried and bought me stuff. The other bank down the street was not even connected with a process that made this possible. However, the federal government regulates how much can be charged on these loans and SmartBiz charges every penny of that, so it winds up being a very expensive process. But it was not as expensive as some of the less conventional things. And it was really a great experience overall.

View more
Verified Reviewer
Original review: Oct. 11, 2017

I have a business that I wanted to invest more money into. I researched on financing providers, read around on it and SmartBiz Loans has the best term, best rates and the best turn around time. I ended up with an SBA loan with them. I did the application process online which was simple. They approved that and I gave the documents that were requested. It took two weeks to get everything organized and another week and a half to finish everything up. However, it was a little difficult to upload the required documents. I sent some documents manually and there were a couple of times it didn't work correctly, but we got it worked out.

I dealt with Philip and he was very helpful. He was sometimes hard to get a hold of because of his workload. But overall, he did a great job and worked out fine. Their fees were a little high but with the amount of money I got, it was well worth it to me. Now, I got funds to run my business and bought some more equipment. I would recommend SmartBiz Loans to others. It was a quick and easy experience with them and I got good results.

View more
Verified Reviewer
Original review: Oct. 10, 2017

I was looking to franchise and I was told that SmartBiz was familiar with it and things would go quickly. I applied online and then someone called me. They let me know what information they needed through emails and I sent all of those back. The gentleman I talked to always returned calls right away. He referred me over to Celtic Bank and there was a bit of paperwork and stuff I had to send to them. However, I thought the loan was going to be an auto-pay where they would do an auto-draft for my monthly payments but I got a bill in the mail. Despite that, everything was fine. They were courteous, smart, respectful, knowledgeable and quick on their feet.

Verified Reviewer
Original review: Oct. 8, 2017

I needed to make some improvement and get more publicity on my company. I had some people tell me about SmartBiz and a person helped me and organized everything with me. He was good and the process was so fast. SmartBiz helps and they're a good company.

How do I know I can trust these reviews about SmartBiz Loans?

  • 937,347 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on please visit our FAQ.

Verified Reviewer
Original review: Oct. 7, 2017

For one of my businesses, I used to get merchant loans and a person from Connecticut brought up SmartBiz Loans to me. I was going to pay off some debt because I had some high rated debts and also increase the business. SmartBiz was straightforward and everything was automated. It was easy for someone like me who isn't a mortgage broker. I only spoke with one person and I usually sent him an email and he responded quickly. The process was closed within 10 days and I had the money wired to my wife's account. Life has been a lot better since then. I was paying almost 30% in interest rates and now I'm paying 7%. I'm saving a lot of money and got more capital. I got less than what I wanted but I understand why. I had a great experience and I want to thank SmartBiz.

Verified Reviewer
Original review: Oct. 3, 2017

We were looking at expanding a business and the agent who contacted me had put it out to a few companies. SmartBiz came back with the right numbers, and they were great to work with. They were thorough, detailed, quick and did a great job. We were able to supply them everything they needed and they worked through it all to get it done. Their contact person was fantastic. Other than having to come up with an amazing number of required documents, the whole process was great and quicker than I anticipated. We received a 10-year SBA loan from SmartBiz. With the way it has worked out, it affected our business in a positive way. It took on the need for me to personally continue financing and it has opened up some avenues of advertising that we wanted and gave us some extra money to do it. It was an excellent and professional experience and I would definitely go to them again. I recommended them to a friend, too.

Verified Reviewer
Original review: Oct. 2, 2017

I was drawn to SmartBiz Loans' method of filling out everything and tracking the progress online, so I gave it a shot and went with them. The application process was easy and straightforward. In their website, I followed the prompt, filled all information, and uploaded my documents as I got on. Hunter, my account rep, helped me through and made sure I got all the right documents. He was great and very responsive to questions, too. I had a very smooth process and a good experience, which I don’t always have with other people. The whole process was quick as well. It took me a couple of days to fill out the application and gather all the stuff I needed, while the closing part was at least a few weeks. With SmartBiz Loans, I got the financing to make some needed improvements and for things to grow. It’s definitely nice to be able to do that.

Verified Reviewer
Original review: Sept. 30, 2017

SmartBiz has a very easy process and the rep, Justin, is amazing. His professionalism and follow-ups impressed me. SmartBiz has given me the opportunity to take things to the next level and compete with my larger competitors. They are awesome.

Verified Reviewer
Original review: Sept. 29, 2017

I opened a new location for my brick and mortar business thus I needed financing. I read pretty good reviews about SmartBiz and their interest rates are also good so I decided to get my business loan from them. The process was a little bit of work, but we got it done in about a month. The guy helping me was really good, he was easy to understand and deal with. Working with SmartBiz helped me out a lot and I appreciate the good rate they gave me.

Verified Reviewer
Original review: Sept. 28, 2017

I'm expanding my business, hiring employees, and I needed some working capital. SmartBiz Loans was easy to work with. They made their online process pretty easy to get information back and forth. The initial setup thing where you go through and answer some questions was pretty easy, too. Their rep, Hunter, was really good. He always emailed promptly, showed me how to get things done. He was available to walk me through whatever he needed. He called a lot to just follow up and see if I needed help with things. He was on top of things.

Verified Reviewer
Original review: Sept. 27, 2017

My employer, Troy, needed to get a new truck in and pay off other loans with much more higher interest rates. He had been looking into funding and had received some information from different people that promised him a lot of things. He spent a lot of time with them and everything consistently fell through. SmartBiz Loans reached out to him and did a great job for him. He was very impressed with their dealings. They asked him for specific information that he was able to provide, and the whole thing went very smooth. SmartBiz did a great thing for us, and Troy was very pleased with them.

Verified Reviewer
Original review: Sept. 26, 2017

I put SmartBiz Loans against two other finance companies that I was talking to in the beginning and they were quick to respond to my questions. When I emailed or phoned, my call was always answered and my emails were always responded to. I chose them because of their customer service. They gave me true and honest answers to my questions and I felt very comfortable in dealing with the rep that I was given. I dealt only with one person and I didn't have to go around with anybody else or figure out who else to talk to.

On the other hand, their process had been medium in difficulty. We had to open up our books to them but I felt comfortable in doing that after doing some investigation on them. We had to gather a lot of documents, which was time-consuming, but they were very helpful in making sure that we were getting the right documents to them and not giving them things that they didn't need. In addition, I had heard from my local bank that the process could take up to four, five months for the SBA loan. I had also heard from other people that I knew who had gotten an SBA loan that it took three to four months. So, I was quite surprised that it only took between 60 and 70 days for the entire process to complete. Since getting the financing that we needed, we were able to purchase two new vehicles and we've done our expansion. The business has been fantastic and we're ready to hire more employees. It was a really good experience. When the time comes to do it again, they will be my first phone call.

View more
Verified Reviewer
Original review: Sept. 25, 2017

We've got a growing company, and we needed financing. I saw SmartBiz Loans on the internet and it is much easier to deal with than normal banks. They got into your nuts and bolts of everything. The application process was easy but it took a little bit of time. We had to make sure that all the I’s were dotted and the T’s were crossed and we made sure that we had all our documentation in line. I liked the gentleman I dealt with out of New Orleans, his assistant and the SmartBiz people out of San Francisco. I got very good service. The team gets back to you, responsive on everything you ask for and they give their opinion, not just read a script which is what's so tough these days.

The process took six months from when we first started talking to them. I had a credit score that was a tad low just because of the way they rate things. I brought it up, and that was the little bit of holdup. I was on the cusp and I just did a few things that would help. I did it, and we're all set. SmartBiz has given us the ability to go ahead with a lot of the projects that we had planned on doing. Compared to 10 jobs in the pipeline, we now have over 80 possible jobs. It also made us put all the marketing ideas and marketing procedures in place. It's going extremely well with that. It's giving us a little bit of buffer that we didn’t have before.

View more
Verified Reviewer
Original review: Sept. 24, 2017

I had a short-term loan which SmartBiz was originally offering. I told them that I was looking for an SBA loan and they said they also did that. Although there was a lot of paperwork and we had a problem getting my documents from the insurance company, it wasn't that horrible. Everything was very easy with them and they communicated extremely well. SmartBiz allowed me to expand.

Verified Reviewer
Original review: Sept. 20, 2017

SmartBiz Loans is a great company to get your capital loan from. I've done two SBA loans from them. I have been in the process with some other companies, but then they were taking too long. SmartBiz, on the other hand, worked on it right away and I felt pretty comfortable working with them. Michael, my contact guy, was the one who did everything from the application to following up with the underwriter. The process wasn’t too difficult. Just like any other institution, they wanted my bank statements, tax returns, PNL, balance sheet, etc. Doing the application online and then doing e-Consent and electronic filing was pretty easy.

The first time I applied for financing with them took four weeks. It was the first time I had applied for a loan, so I didn’t know what to expect at that time. I have went through a couple of other companies that were able to do that a lot faster (Kabbage and Fundbox). But, I was not able to get as much. SmartBiz gave me the working capital that I needed to succeed in the business, and I'm doing really well. Now, I got a second loan with them and it's been great. There are no hidden fees or hidden costs. They show what they're going to offer.

View more
Verified Reviewer
Original review: Sept. 19, 2017

I liked the idea of doing an SBA in a 10-year term and I went with SmartBiz Loans. There was a lot of paperwork but Brad, the rep who I worked with was excellent and was able to get everything done pretty quickly. He was very responsive and if I ever had an issue, I would simply send him an email and I'd get an immediate response. You don't find that nowadays. In addition, it was mostly done over the internet which was nice because I can work on it after hours. I was closed within three weeks, so their entire process was easy.

Verified Reviewer
Original review: Sept. 14, 2017

I was searching a couple of different websites and reviews of companies that do SBA loans. SmartBiz came highly recommended by multiple websites that did reviews on that industry. The other ones were banks. I liked SmartBiz because they were using technology to streamline the process. In fact, the process was a lot better than any other experience I've had over other banks. It was as easy as it could get for someone with my situation. I had one main rep who guided me through the whole process. He was hands-on and very knowledgeable. He went above and beyond to help me get it done. Working with SmartBiz has been awesome. They did a really good job and provided great service. We've been able to expand. We're already seeing returns on the money we've been able to put to work in the business. It allowed us to move on to higher growth.

Verified Reviewer Verified Buyer
Original review: Aug. 31, 2017

Our broker Marcus set us up with SmartBiz Loans. We were seeking for a working capital and SmartBiz Loans was the first one to reach back so we went with them.

Verified Reviewer Verified Buyer
Original review: Aug. 26, 2017

We were looking for a working capital for our business and SmartBiz Loans has a good rate so we went with them. We weren't thrilled even though the rate was adjustable and we had confidence with Small Business Association that their lending would be solid. We also did everything online and we talked to a rep in San Francisco a couple of times. It took several weeks and a couple of quick conversations but after that we were approved. We had a lot to upload and there were questions about the things we had going on so there was some delay, but it got funded eventually so it was fine. It definitely helped us out so we're pleased to have done it.

Verified Reviewer Verified Buyer
Original review: Aug. 25, 2017

SmartBiz offered small business loan so I went with them and sought for a working capital loan. The entire process took a few days. It was quick and simple. I did something online and then an account person was assigned to me. He was responsive and answered all my questions. He was good and we completed the rest of the application. He told me what was missing so I could provide it, and then it was funded. Their rep was very helpful and articulate so it was clear what I needed and he made the whole process smooth. It was a good experience and I couldn't ask for anything more.

Verified Reviewer Verified Buyer
Original review: Aug. 24, 2017

I decided I wanted some working capital and I didn't think I was financeable just because I've gone out and tried to raise money with investors that said no. I felt disappointed and my compliance officer told me to go online and see if Kabbage or somebody can take a look at our financial. I did Google search and I ended up going through one of those lenders that farm it out. If applications were placed, they try to find 30 matches and so. I did that and it wasn’t a great experience. The amount of money they came up with was $50000 and really high points.

Because I'm a minority, and its a female-owned business, I thought that there is no way that SBA is going to help me. My compliance officer told me to fill out the application and I did. My loan officer, Kevin, got a hold of me immediately and told me to keep the great job I’m doing. He was the reason I did the loan. He was proactive. He told me that I had a solid business and increased the amount to $250000. I did everything he asked. My paperwork is good, clean and organized so all my financials are ready to go. From beginning to end I was funded in three weeks, five times more than I wanted.

I've been a businesswoman for 20 years but usually you're going to meet with people with their own agenda. People who over promise, under deliver. That's kind of the norm. It's gut-wrenching to go through that over and over again. He was my biggest cheerleader. There were a couple of times where I just wanted to give up. I didn't feel like he was just doing it for a commission. I felt like he was encouraging me because it's the right thing to do versus just trying to look for his next buck which is how most people kind of treat you. The experience was a game changer for me. I do business and I was able to fund myself without feeling that I needed some outsider to believe in me. Now, I can just lean on myself and keep rocking and rolling.

View more
Verified Reviewer Verified Buyer
Original review: Aug. 23, 2017

I've added staff and with the idea of growing the business, I needed to bring in a high priced person. We'll see about adding more and we're spending money in different ways on different marketing things that we haven't done in the past. According to Clark, the broker I was working with, SmartBiz has a very streamlined process for obtaining an SBA loan. I wouldn't have gone after an SBA loan but he assured me that he'd put a couple of other clients in touch with them and the process was streamlined particularly for SBA.

I had the ability to upload the documents SmartBiz required online, and the rep that I worked with was very helpful, prompt and efficient. The entire process went fairly quickly because anytime something was missed, the rep was on it right away and got back to me in a timely manner. Having gone through other similar processes for financing or refinancing a house or financing a boat, SmartBiz had one of the better finance processes I've gone through in terms being able to do everything online and having it be so straightforward. They are covering the followup part well.

View more
Verified Reviewer Verified Buyer
Original review: Aug. 14, 2017

I went to Sam's Club, saw SmartBiz and applied for financing to buy equipment for my business. I filled out a form, SmartBiz got back to me and the reps were very nice. I submitted all the paperwork they required and got the financing. I'm satisfied.

Verified Reviewer Verified Buyer
Original review: Aug. 13, 2017

In order to grow my business, I needed to secure some operations capital so I could hire more staff while we grow. I researched small business loans on the internet and narrowed it down to find the best loan that was the most appropriate for my situation. SmartBiz had a lower interest rate range and I felt really good about working with a small business administration source of funding as well. This is my first time applying for funding and the whole process took a little bit longer than normal because I was learning how to gather all the documents they needed as I was going through the process. It took approximately seven to eight weeks, which was due largely to the fact that I was also travelling a little bit during my loan application process. I had to take some time to get the documents required back in a timely manner, but the process itself was smooth.

My point of contact at SmartBiz clearly walked me through every single step of the process, helped me review the documents and came back with recommendations for improving the documents to make it more appealing to the underwriter to help make sure that the loan would go through. I was also talked through some options about whether or not I would want to qualify for a little bit more funding at a higher amount or if I wanted to qualify for a little bit less. I always felt informed of all of my options and what I needed going forward. I successfully secured my funding and I was able to pay for more staff and more hours for my existing staff which has allowed us to expand our business.

We are looking at higher than regular revenue projections for the end of the year due to the fact that we have the operations capital which made it possible to expand our business and take on more customers and clients. It's been really helpful and enjoyable to work with SmartBiz Loans and to have that experience. I also took away a feeling of confidence and commitment to my business. As a business owner, I felt overwhelmed especially when it came to the numbers and money. But SmartBiz managed to make it a streamlined and stress-free process which was surprising and much appreciated.

View more
Verified Reviewer
Original review: July 22, 2016

When I call hold times not too long. They able answer my questions. They are friendly. I have no big issues with them. The application was not too complicated to fill out. Nothing confused me or caused me to stop filling it out. Their rates and terms were right in line with other companies. I did not pay anything more with them than I would have going through a bank or other organization.

Verified Reviewer
Original review: July 20, 2016

There was minimal automated services. It was easy and fast to speak with a representative. They were really friendly and extremely helpful in resolving the issue. The application process was very thorough. It was not too difficult to fill out and the employees were more than willing to assist me if I had any questions completing it. The company went over the terms. They were very agreeable. There were no hidden or surprising things hiding in the text. The terms were an easy process to complete. The online tools were very handy. Anything that I needed to complete a task was readily available. They were easy to locate and utilize when needed.

Verified Reviewer
Original review: July 15, 2016

It was pretty helpful. I talked to one guy and he helped me through everything with ease. The only problem was that I came in too early. The application process was relatively simple. It asked for a number of financials, which I was able to provide with little trouble. Overall very good. I was pleased with the good rates they offered. Terms and conditions were fine, although I think it was mostly standard. Overall pretty good. The online tools are very helpful. I can do everything I need to do online as opposed to calling someone. This is a key feature I enjoy using.

Verified Reviewer
Original review: July 14, 2016

I was having a very difficult time and was getting worried so I called them and they sat on the phone with me until we got the problem resolved. It was great, Didn't take long. Straightforward questions they ask you and try to match you with the best possible experience, and they sit right there with you and are as helpful as can be to make sure that your experience was very happy. Rates and terms are pretty good because they try to get you matched up to how much you're making per year so that your rates don't increase and wind up backing too much out of pocket.

Verified Reviewer
Original review: July 13, 2016

Most loan companies just want your business and don't care how they get it, but not this company. This company goes above and beyond to make sure that you are happy and satisfied with them and everything that they do. A lot of application processes can actually take you a couple of days to complete because they ask for all kinds of things that you wouldn't even think to bring with you or dig out of your files, but their process was very easy and simple to complete. Some, not all have hidden rates and terms that you are not aware of until they hit you with them. Not this company. Everything, including the fine print that most do not read, is explained in full to you before you sign anything. Some companies’ sites have online tools that seem to be "jumbled" and you are just not sure what to click on or where to go, but the company I used has very simple laid out online tools. You know exactly where to click.

SmartBiz Loans expert review by Barbara Friedberg

SmartBiz is headquartered in San Francisco. The company was founded in 2008 to help businesses secure small business loans.

  • SBA loans: SmartBiz structures their website and application process to simplify the process of applying for an SBA 7(a) guaranteed loan. The company works with SBA lenders to help small business owners find the best choice for their business. If a business does not qualify for an SBA 7(a) loan guarantee, SmartBiz can help the owner find another financing option.

  • Quick pre-approval: Interested customers can fill out an online application to be pre-approved for a loan. This process takes less than five minutes and will not impact their credit score. They should note that the pre-approval and application processes are different.

  • Time to funding: Business owners can receive funds as soon as one week after their application is approved. For many customers, the entire process, from applying to receiving funds, takes about two weeks.

  • Success stories: SmartBiz’s website features the stories of their successful clients, so interested consumers can see how other business owners benefited from a loan.

  • Blog: Regular posts on SmartBiz’s blog are useful and informative for all business owners. Topics include understanding a credit score, office decoration and insurance. They also post tips about small business loans, legal matters and hiring practices.

  • Best for: SmartBiz caters to business owners interested in securing an SBA guaranteed loan between $30,000 and $350,000.

Profile picture of Barbara Friedberg
Barbara Friedberg

Personal Finance Contributing Editor

Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.

SmartBiz Loans Company Information

Social media:
Company Name:
SmartBiz Loans
Year Founded:
417 Montgomery Street
San Francisco
Postal Code:
United States
(866) 283-8726