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SmartBiz Loans
SmartBiz Loans
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(844) 846-1125
Overall Satisfaction Rating
4.85/5
  • 5 stars
    80
  • 4 stars
    8
  • 3 stars
    0
  • 2 stars
    1
  • 1 stars
    0
Based on 89 ratings submitted in the last yearSHOW 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.

A+BBB Rating
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102 SmartBiz Loans Consumer Reviews and Complaints

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Verified Reviewer Verified Buyer
Original review: June 18, 2018

I wanted to expand a little and SmartBiz was one of the first people to respond so I went with them. Their rep, Mike, was super responsive and great about answering questions. He was extremely pleasant and really easy to work with. I filled out an online application and their reps told me a bunch of other paperwork that I needed to email or fax over to them. And then, they got back to me with stuff that they thought the bank might look for that I haven't answered, so it seemed like when the paperwork went to the bank and we got approval, it was quick and easy.

The process took a month but part of it was because I changed my mind in the middle. We had a misunderstanding about their fees. There was a girl that emailed me and then turned it over to Mike. Normally, Mike talks about the fees in the first call, but because it was turned over to him, he thought she had already covered it and she hadn't. It was on the email but it was lost in the top. And so, I needed a larger loan. We were gonna start from scratch with a different bank and then SmartBiz went to the bank and told them and they said, "Yeah. No problem." So they just suggested the amount. I received a working capital business loan and it has been a positive experience working with SmartBiz because now, I can move forward with what I had been needing to do.

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Verified Reviewer Verified Buyer
Original review: June 13, 2018

We wanted to grow our business and SmartBiz provided a quick, easy and painless way to get an SBA loan. During the application process, there were a lot of questions on what we needed the money for, as well as financial analysis of the business. There was a whole lot of paperwork and then finally, there was approval after. The application took eight weeks total.

The person I interacted with was great. I worked with Hunter and he was very thorough. He helped me out through the process, walked me through everything. I enjoyed working with him. I was able to get a working capital loan with a debt refinancing. I'm working on marketing strategies and able to have the working capitals to work on advertising and marketing. It has definitely affected me positively, so I'm definitely happy about that. SmartBiz made the SBA process, which is usually extremely daunting, much easier, smoother, and more feasible. I don't even know that I would have gone through the SBA process if it hadn't been for SmartBiz.

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Verified Reviewer Verified Buyer
Original review: June 12, 2018

I had been working with Break Off Capital and I was seeking less expensive financing. SmartBiz worked with me on the SBA. The SmartBiz team was always very responsive. Some of the interactions that I had with them were through phone calls and others were through emails. SmartBiz sent me an online application. They also asked for a lot of documentation separately. Some of it was uploaded into their portal and this process was very easy. Then, within a few days, they had my approval and a few days after that, I was funded. It took 11 days from application to funding. SmartBiz very quickly secured the financing that I needed.

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Verified Reviewer Verified Buyer
Original review: May 24, 2018

The SmartBiz reps were knowledgeable, helpful, and accurate in what they said and what they represented. It wasn't a bunch of fluff and empty promises, unlike my experience with other financing places. When I spoke to the SmartBiz rep, we went over the financial data, all the tax returns, and told me what else was needed. They packaged it up where there were no questions left and everything had been covered. It was a little tedious because of so much information that they required. But once I provided them all that, everything went smoothly. And getting the loan has really helped with the working capital, which is the blood of any business. I'd use SmartBiz Loans again when I'd need them and I would recommend them.

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Verified Reviewer Verified Buyer
Original review: May 23, 2018

SmartBiz Loans seemed to offer the best and seamless solution out of everybody that we looked at. We were trying to consolidate some debt and do a little bit of growth in our company, and from the beginning, they were incredibly helpful then it all took off from there. We started off by using their custom form that walked us throughout the steps of the process. We filled out and provided a bunch of documentation and other information. Their user interface was great and uploading the required documents was super easy. When we had finished the applications, they called us and walked us through the rest of the way to the finish line. We couldn’t have done it without them. SmartBiz Loans certainly positively affected our business and helped us with our cash flow. That reflects on our lives too.

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Verified Reviewer Verified Buyer
Original review: May 20, 2018

We were dealing with a couple of other financing companies that were just really sloppy and somebody recommended me to SmartBiz Loans. They were much more thorough in preparing an extraordinarily large amount of paperwork when we got a working capital loan from them. And then, they just sent the money afterwards. My interaction with their team was mostly through email and a couple of telephone calls which was all business and straightforward.

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Verified Reviewer Verified Buyer
Original review: May 18, 2018

I was looking around online at different funding options. I have a small business so I get some of the keywords I used towards just a small business funding and SmartBiz Loans, along with a couple of other options, came up. I had applied for a smaller SBA loan a few years back so I was familiar with the process and I know that the SBA loans are good for small businesses. That drew me to look into SmartBiz Loans right away.

I had already researched some other different financing options and what I needed was some flexibility in terms of payment options. I wanted a longer term and some of the other funding options would give you a significant amount but they expect you to pay back in less than a year. When I submitted for a pre-approval through SmartBiz Loans, the terms that I saw that popped up were exactly what I needed - longer payback time, lower interest rate.

I did an SBA loan the first time and I submitted a request to see which banks would be interested in giving me an SBA loan back then. I was given a list of banks but then, a rep directly from the bank contacted me and then I did the whole application process through the bank. It was very labor-intensive and time-consuming. It took about close to two months to get through everything and I was going back and forth with the bank rep on the phone. It was a grueling process.

However, when I applied for a loan through SmartBiz Loans, it was ridiculously easy. Before they even took anything to the bank, they made sure that I had everything I would need to get the funding and get the approval. The SmartBiz Loans rep was on top of everything and I was able to go on at my timing and submit all the documents that they needed. He knew exactly what I was gonna need in order to submit everything to the bank. He made sure that everything was in order before even taking it to the bank and then the process from there. That didn’t take a ton of time. I was able to upload them right to the application online and I didn’t have to play phone tag, going back and forth with a rep at the bank. Once the application was done and we submitted everything to the bank, funding came in a matter of days. It was much easier than the regular process.

Working with SmartBiz gave us exactly what we needed. I went into this because my businesses were pursuing a big growth opportunity and we needed some capital on-hand to do it and SmartBiz gave us an easy access to this funding and got a quick approval and turnaround time. SmartBiz gave us the opportunity to go and grow our business. Without it, we wouldn’t have been able to jump on those opportunities.

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Verified Reviewer Verified Buyer
Original review: May 17, 2018

I restructured to more cost-effective, better terms and SmartBiz Loans was extremely easy to work with. They were able to get it done. I applied on Lendio, got a call from a Lendio person, Lendio reached out to a handful of people then SmartBiz was the one that responded, worked through the process with them, getting all the financial reporting done and a super smooth closing and it was done. I dealt with primarily one gentleman and he did a fantastic job. Any time we had difficulties, they made it ridiculously easy to get it to him.

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Verified Reviewer Verified Buyer
Original review: May 11, 2018

My website needed redoing. It's from 2009, so it's way out-of-date. It didn’t have a search feature and we're making some major changes with it but I needed money to do it that I didn't have. And the bank agreed with us that we could have that fund. I had just started trying to work on an SBA loan through a local organization. We have a question area on our website and they had a marketing guy who posted the question. I have nothing to lose, so I thought I'll give these SmartBiz Loans a call. I talked to Susan and we had a great conversation. And then she passed me to Tim and he was great. I liked the platform that SmartBiz has for providing information to them. I upload everything and if they needed additional things, they put it as an additional requirement and we worked through things. A lot of what he needed I already had because I'm an accountant and I do those things. So, it worked pretty fast and we were both pleased.

They sent me a link to an area that I signed in on and answered a lot of questions about myself, my finances, the business and its finances. They wanted to know that our company was a healthy organization that didn’t have any obligations or outstanding problems and I provided all of that. Also, they wanted to know what I wanted to spend the money on and we went through the process step by step.

Tim got down to choosing the bank and they had more questions. That was a bit more behind the scenes and he would contact me and I would answer whatever questions that needed to be answered. I was given paperwork to sign and resolutions to update and once the bank was satisfied with that, I was funded. I had the money in my bank account. SmartBiz Loans was very professional. Everybody is nervous when they go through a process like this, but SmartBiz made it run smoothly and it was a great experience. I have somebody I'm going to recommend SmartBiz to who has an ongoing business but need some additional equipment.

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Verified Reviewer Verified Buyer
Original review: May 5, 2018

We sought financing for operating capital and cash flow and SmartBiz Loans had a really easy process. It's a lot of uploading taxes and different forms but their whole system was fairly automated so it made it easy. I just got the loan but it was a good loan. It was a fair rate and I'm happy with it. Business is good.

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Verified Reviewer
Original review: April 29, 2018

I sought financing from my business perspective on what I needed to get into a studio space. I’ve tried a couple of banks. My friend who went through the same process had the same issue as a small business. She went the SmartBiz route and she told me to try them if I had problems going through my bank. I went through their website and filled out all of the information online. And then they had a representative reach out to me to keep me notified if there was any other paperwork that needed to be turned in to them. And also, the rep kept me informed of the loan process on where it was and the progress of it. They did an amazing job. SmartBiz turned my life around as far as giving me an opportunity to make that next step in my business that other people wouldn't give. If not for that opportunity, I wouldn’t have been able to offer more things to my clients and I could have gone out of business.

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Verified Reviewer
Original review: April 26, 2018

I had the need for a loan and I received a working capital loan from SmartBiz. Their process was a lot of work, but it was smooth and the website that they built made it neat and pretty easy. I had a couple of calls with the loan officer whose job was to gather the data and it was sent to the actual decision maker. Working with them made it easier to get a loan, but the fees incurred were hefty. You have to pay them as getting business loans and working through the SBA are not easy. But the fees were worth it for their efficient systems and having the kind of advocate helping you out.

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Verified Reviewer
Original review: April 25, 2018

SmartBiz Loans is a good company. For a while there, we had a pretty bad business and in 2008, we got almost killed. So I invested capital for the business to keep it going and when the business started doing better, our credit went up again. We were making more money again and we had better credit references. But in the interim, I went to a couple of really good companies and their banks had a hard time seeing past our minor problems. They didn't have time to deal with me but SmartBiz did.

We had a lot of credit card debts and we wanted to get one smaller thing and lower our payment. SmartBiz Loans did an SBA loan for us. The other companies couldn’t make that happen for us but SmartBiz made it work. The process was the same with everybody. It’s always to give them half your life in paperwork and then they decide if it's true and they find out if you qualify for the loan. The loan officer we worked with was really good and very helpful. I'm a pretty busy guy but they kept on me to get the thing going. They never let me lag by a couple of days. They called me up to ask what they can do to help and they were relentless in keeping in touch with us, which was good.

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Verified Reviewer
Original review: April 24, 2018

I've been working with loans with banks and compared to SmartBiz, it's like night and day. I was looking for financing for working capital and a broker directed me to SmartBiz Loans. Originally, we started with the broker then I dealt with SmartBiz directly because they had to ask me questions about how I intend to utilize the fund. They also asked for some documents and some personal tax returns, company tax returns and IDs. We submitted those then they came up with a couple different offers and we went for one of the possibilities. It was a lot simpler than it is to work with banks. They have more parameters that are geared to small business than banks normally have.

Unfortunately, small businesses cannot give guarantees that big businesses can give, such as budgeting and a track record of consistent sales. We are much more affected by swing in the consumer demand. We go up and down, and banks unfortunately are not geared for that. I would recommend SmartBiz. I've been working with them for just one month and it has been a straightforward relationship. They provided coordinates so that we can wire extra money and they have a minimum monthly that we're supposed to pay. But we are managing to pay more than that so we expect to pay off our loan not in five years, but in two.

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Verified Reviewer Verified Buyer
Original review: April 22, 2018

The application process claims to provide pre-qualifications and then pre-approval status. You will be spending a significant amount of time providing all of their requested documents, after which you will be assigned a "specialist" that will review all of your financials and other misc documents for a 2nd time (collect more personal data), and advise you whether you are in fact "qualified" or not. This means nothing unless they can find a lender that will fund your loan, which is contingent on another department's recommendation to "move forward" or not.

SmartBiz Loans gathers all of your information while making you do a lot of leg work, including having your insurance broker provide certificates of insurance naming their referred bank as additional insured. They THEN try to solicit the loan to these partnered banks in hopes to make money by way of a "referral" fee. Too much time spent and a false sense of hope given throughout the entire process. NOT RECOMMENDED... Better off going through a local bank.

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SmartBiz Loans response

Thank you for taking time to leave a review. We’ve investigated your case in detail and it appears that you did not meet the financial requirements of the SBA banks on our platform.

SmartBiz packages and “stress tests” SBA loan applications according to standards of our preferred SBA lending bank partners. Approximately 90% of all loans referred to our partner banks get funded, increasing the likelihood of getting to a “yes”. However, there are the 10% who do not get funded and unfortunately your application was not approved due to credit and cash flow issues. Because the federal government guarantees SBA loans, there are strict credit requirements in place and additional documentation may be requested after you’ve completed the initial application.

Your Relationship Manager did go over several ways you can qualify for an SBA loan in the future including paying down business debts. We wish you and your business the best in the future.

The SmartBiz Loans Team

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Verified Reviewer
Original review: April 18, 2018

I applied to SmartBiz for a loan for the first time a long time ago. It was for my wife and it was denied. I was trying to bring in more merchandise to grow my small business. I applied for a loan again and this time I was approved. I sent the paperwork including my business documents and all tax returns, bank statement, my lease, and insurance. The whole process shouldn't have taken so long but I had a back and forth because of my landlord and some paperwork had to be signed. The rep, Connor did a great job and after he was done with the process, Bank of Finance called me. They did the process fast and they did everything. I’ll recommend SmartBiz Loans, definitely. They were great and I’m very satisfied.

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Verified Reviewer
Original review: April 17, 2018

I needed financial assistance to grow my company and develop my business product. The SmartBiz Loans website was pretty good in terms of clearly representing the data, conditions, terms and the amount of payments per month. Last year, the first time I applied for a loan, it didn't work for me because my company wasn't meeting their requirements. This year, everything worked out fine, so I was pretty happy.

I got an SBA loan from SmartBiz. Uploading the required documents was easy because most of the stuff were already uploaded for me from last year. I still had to collect a lot of information and spend much of my time but the result was worth it and it was pretty easy. They did great and they also completed it. My adviser, John, was great. Working with SmartBiz gave me the possibility to force addition, employ, and open the way of working with new suppliers. It's highly beneficial for my business and it is a low-cost financing through SBA, which is something that I was looking for. I would recommend this company.

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Verified Reviewer
Original review: April 16, 2018

Due to the options of their SBA loans, I decided to go with SmartBiz. Their loan process was rigorous and there was a lot of documentation, which I understand. It's a government thing, but there was a lot of stuff I had to dig up. Their rep, Anthony, was great though. He helped me out and walked me through everything. However, I wish I had more of a list at the beginning. There was an initial list but then the list kept growing. It seemed like if you had all the items upfront, the process would have been easier, especially for me. I had an accountant and I had to go back two or three times to get information, so it would have been easier if I had been able to just give her one list. But because of the loan, we're financially a lot more stable, which relieves a lot of the other pressures. Although it was a long process, it was definitely worth the effort.

2 people found this review helpful
Verified Reviewer
Original review: April 15, 2018

We were told that SmartBiz is good at helping small businesses like us to get an SBA loan set up. Abe referred us to Mike from SmartBiz and he drove the process. He works on a regular basis with small business loans so he requested all the information that SmartBiz was gonna need from us to do a preliminary application. He did the initial work, passed the paperwork and packed it over to SmartBiz. Then, I started working with Mike and spent a few weeks working with him on filling in the holes on the information that they needed. He was absolutely incredible. He's one of the best people I've ever worked with in any capacity in any company. He gave me his personal cell number. He's in East Coast and I called him a couple of times later in the evening. He was at a baseball game and he pulled aside and took the time to talk to me and made sure that I got my questions answered. He was available 24/7 and super friendly, nice and smart.

We tried to get an SBA loan through our local bank a couple of years ago, but it ran into all sorts of problems and delays and they ended up not being able to do it. This time was a complete contrast to that because Mike made it very easy. He knew what was needed to get the job done and he made sure he got it lined up. There are a lot of times when you do financing with a company, they'll end up saying, "We'll take your information, throw it over the fence and see whether there's something the underwriters are willing to consider." That's not at all how Mike and SmartBiz work. They knew exactly what was needed to get it done from the very beginning and not just get it considered. He focused specifically on us on getting whatever documentation and information were needed to get it done, and it was super quick and easy. There's nobody out there who'd be better. I throw them the strongest recommendation I could give to somebody.

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Verified Reviewer
Original review: April 14, 2018

I wanted to refinance a business loan that I had and my wife went online looking for business loans. Then I got bombarded with phone calls. RapidAdvance was the one that said they were able to do SBA loans and then they referred me over to SmartBiz Loans. And since it is a broker, the company looks at a bunch of different banks rather than dealing with one bank. They make things easier compared to going out and looking for the banks ourselves. Plus, they were very good and I would recommend them.

We got a ten-year SBA loan with a variable rate and it freed up more cash flow for my business. But the loan took longer than what we thought it would. The first lender said they were gonna do it all and dropped out at the last minute then SmartBiz found another lender. In getting an SBA loan, there are gonna be some bumps in the road and it gets frustrating. But the people at SmartBiz Loans know what they are doing. I talked to Kevin and when he went on vacation for a week, I dealt with his manager, and they were very responsive.

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Verified Reviewer
Original review: April 8, 2018

The first time that I tried with SmartBiz Loans, I was rejected because I didn’t meet their standards. I have two companies and I said that in six months, I was going to try to refinance the loan that I had. I did it to switch from short term all the way to long term. I was working with American Quest for seven years and short term loans are very toxic. They don’t help me grow into becoming a company that makes million dollars. I was paying $7,000 monthly on those loans and now, it's going to go back to $4,200. I would also have $600,000 to play around with the cash flow.

My experience with Barrack doing the process was fantastic. He deserves a raise. Plus they have a good platform and they followed up with us. There were some bumpy rides because with this type of loan, they eventually take you everywhere in order to be classified. But we had the numbers and at the end of the day, we pulled it off. It was overwhelming at some point but my organization interacted with SmartBiz Loans and they made it a very smooth ride.

Our interactions with them was also very easy because we had organized all the paperwork that needed to be shown to the banks. If you don't have your papers ready, it's going to be a challenge with any situation. But if you have your financial right and you want to go without wasting time, go with SmartBiz Loans because you're going to get approved. Also, the thing that I liked the most is that they took it seriously by searching us first, and secondly, by giving us the numbers and measuring us to see if we were capable of the responsibility of getting the loan. It's not just getting. It's paying it. They don't just tell you, "Here's the money. Go." Then the next year you're going to be bankrupt with all the fees. They're very smart about all that, checking you out to make sure that you are qualified, and that makes it safer for businesses to keep growing.

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Verified Reviewer
Original review: April 7, 2018

I got a letter in the mail enveloped in some kind of marketing piece. I looked at a bunch of these and the material of SmartBiz Loans seemed better than the others. I called the rep and the rep sold me on the potentials. I got the SBA loan. I did a really quick email application which qualified me. The rep called me, asked me some questions and then sent me a list. We went back and forth for about three weeks with all the stuff that he needed, it went through an audit process, then it came back. I gave them some more information, cleared audit, then I went to the bank to get payoffs and the bank approved it. Then they sent us a DocuSign which was really slick. I signed the documents in full at 10:00 in the morning, and the loan was funded at 3:00 in the afternoon. The entire process took about six weeks, but I've had multiple SBA loans to commercial banks and this process was at least twice as fast.

Getting this particular SBA loan in a timely manner freed up a lot of cash flow needs and saved us a tremendous amount of money based upon getting our interest rate in a longer term. It was painful from a paperwork and process perspective, but there was a three-hour time zone difference, and their team was very good at getting back to me quickly. They were excellent and I felt like they were a real advocate for us.

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Verified Reviewer
Original review: March 27, 2018

When we started with SmartBiz Loans, the process was complicated that could have been discouraging if we had to do it on our own. But with SmartBiz driving the process, the complicated process was made easy. There was a lot of back-and-forths throughout and there were repetitive asking for certain documents too, but I understand they're getting it culled down to exactly what the banks are looking for. And at the end of the day though, it was successful. The team that helped me was very good. I had one specific person assigned to me and he was really thorough and ushered us through the process. He was also good about keeping us posted and pinging us for documents.

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Verified Reviewer
Original review: March 25, 2018

I went over to a neighbor one day and asked him if he could give me tips as I was thinking about getting a business loan. He told me that I needed to try SmartBiz. I tried to get a loan in the bank and I didn't have any luck. SmartBiz was able to get the deal done for me and even faster and more than I was asking. I applied online then a customer rep reached out to me. They asked me a lot of questions about the reason on what the money was for. I was at a business stage as I did part-time for a couple of years so my revenue was low in the two prior years. But last year, I got it to a good enough number and got me to the point where I grew to where I needed this money to start helping the cash flow for salaries.

SmartBiz had my financials and they looked through my numbers. It happened to be towards the end of last year so I was able to show them what my revenue was for 2017. The rep told me to file my taxes early and they could get me X. That was their suggestion and I would have never known or thought about that. I just had an interview today for somebody. I'm considering expanding the space a little bit. And SmartBiz has given me the freedom to invest. There was a trade show that I was on the fence last weekend and I was able to attend. I got a few good leads and I'm chasing on that right now. So, it had freed up the capital to where I can start to expand the company. I can bring on a salesperson and a few producers so that I can start working on the business and less in the business, which is really where the business needs me to go right now.

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Verified Reviewer
Original review: March 22, 2018

I needed an SBA loan. I was reading the reviews and I liked how SmartBiz process everything electronically, so I went with them. During my application, I produced the papers here then I uploaded them online, and they would get them. Then they would tell me what else was needed and I slowly put the package together. I got a bad rep the first time and the second time, the guy was leaving and there was radio silence for 10 days. Then all of a sudden, somebody else picked up the paperwork and things went very quickly. The process took a little bit longer than I expected, but overall, it was a very good experience. I'd tell my friends who'd ask me about it to prepare if they're going with SmartBiz. The SBA would take a while and there's a lot of paperwork involved.

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Verified Reviewer
Original review: March 21, 2018

I recently got a small business loan with SmartBiz and the experience has been okay. I want to grow my business, and I get calls all the time from different companies. But the options that SmartBiz had worked better for me and it was interesting. The loan process was tedious. I had to keep going back and forth and they were asking for new and different things when I thought the process was done. But everyone says that when it comes to receiving funding for a business loan. Working with SmartBiz is helping my business.

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Verified Reviewer
Original review: March 20, 2018

I had a couple other loans that were high interest. I wanted to refinance and I got debt refinance, working capital and high-risk category loans from SmartBiz. The reps were great and professional. When I had a question, they were always available to me and they knew their jobs. The only thing was the application process was rough. The portal was not getting all their docs, and a lot of the docs are useless. And I never even heard of half of them so I had to search them out. And then, I would load them but I wouldn't see them so I would load them again but I still wouldn’t see them. But then, I would send the docs directly to them, and then I would finally see them. So, it was labor. They're doing something for me, but it's tough when you're a small business and you're trying to do business. It took at least two months to get it done, but I'm happy I got the refinance at the end.

It's a great program and my credit was good. It definitely helped give me more cash flow and let me buy some other couple of pieces of equipment. It certainly took the burden off a couple of things. Even though I have good cash flow and very good sales in the first place, I took the interest bite off of the other couple of loans that I had so I'm glad I did it. I would do it again and I would suggest SmartBiz to people. The only downfall was they had to approve who I am and what I was saying. They wanted the older three years to four years of taxes, too. And my business was totally different from three years ago. But overall, the whole experience wasn’t perfect but it wasn’t horrible either.

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Verified Reviewer
Original review: March 18, 2018

We're a new company with a really fast growth. We were going to be short on cash to support people who need 60 to 90 days to pay us. And there are a hundred of companies out there, but a couple of guys from SmartBiz who called me seemed to be more focused on a lower cost of loans. The loan process at SmartBiz was straightforward. However, there were two people involved, Bill and another guy, who didn't communicate very well. A lot of times I'd be getting the same request from both of them and I wasn't sure if I should double the answer, to send it to both, or say that all it got to take is a phone call and I've got to talk.

We had a bunch of Guido loans that were high-interest, but we had to have them to start and we're done with that. When we worked with SmartBiz, we got rid of the Guido loans. Now, we're into an interim versus permanent financing ground with this. I'd recommend SmartBiz but I would also recommend that they improve their communication between their staff.

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Verified Reviewer
Original review: March 13, 2018

I got an SBA loan through SmartBiz and it was the best experience I've ever had with a bank. I was looking to grow my business and SmartBiz seemed like they had the best requirements for my situation. The interest rate was lower than others too. The application process went awesome and our rep was honest and worked incredibly hard. We had a few troubles uploading some documents as they weren’t going through at first, but he worked to correct it and I just emailed him directly. Also, he called to give me updates throughout the day. I didn’t have to worry about anything. And so, I've recommended them. One of my associates was searching for some capital, and I told him to check it out and see how easy the process was.

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Verified Reviewer
Original review: March 12, 2018

SmartBiz was excellent. Stephanie was very customer-oriented, organized and very professional. I got an SBA loan with them since they sent me a pre-qualified letter. The loan was a lot of help on the cash flow and then we have a new project and it was also much helpful for us.

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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.

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Barbara Friedberg

Personal Finance Contributing Editor

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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

Company Name:
SmartBiz Loans
Year Founded:
2009
Address:
417 Montgomery Street
City:
San Francisco
State/Province:
CA
Postal Code:
94104
Country:
United States
Phone:
(866) 283-8726
Website:
www.smartbizloans.com

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