SmartBiz Loans
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SmartBiz Loans

 4.1/5 (350 ratings)
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SmartBiz Loans

About SmartBiz Loans

SmartBiz Loans is the #1 online marketplace for SBA loans, providing the right loan at the right time for your small business. SBA loans from SmartBiz marketplace banks can be used for debt refinance, working capital, and commercial real estate purchases or refinance. About 90% of the applications referred to SmartBiz marketplace banks are approved. With low-rates, long terms, and very low monthly payments, SBA loans are known as the “gold standard” and help businesses across America expand and save money.

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Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Sept. 3, 2021

I needed to make an application for the PPP loan and it was getting very difficult through my bank. I decided to Google to see if there are any other establishment handling that. So, it was the PPP loan application that got me into SmartBiz Loans. Their process was streamlined and everything was online, which I really liked. I had a great experience with them. I filled out my form and followed the instructions. They seemed very straightforward and I was very impressed. SmartBiz did a marvelous job. I couldn't do that through my bank, which is Wells Fargo. I thought their system was very simple. It made life very easy. Everything from filling out the application, uploading the form and the follow-up was straightforward. I love the experience I had with your place.

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    Rated with 4 stars
    Verified Reviewer Verified Buyer
    Original review: July 9, 2021

    Everything was via email and it changed. There were two to three different individuals that I've been in communication with in the time period. At one point, it became a little frustrating because they asked me to send some documents and I did that. Then they said that I didn't send all and I told them I sent the exact thing that they requested. They reviewed it and then they never came back and say anything other than, "You've improved," and moved on to the final stages. This was all within the past month.

    Then they told me earlier in June that my application was incomplete and I sent the wrong set of payroll documents. I told them that I sent everything. They said that I sent the first and second quarter for 2002, and then something that's for 2019. They told me to send the full year for both years. But they only wanted the first quarter and I sent them more than the information. I sent those to show comparison of the first two quarters of 2020 and 2019. Then, they came back and said, "Approved," and moved on. They never acknowledged the error so I thought that was a little odd. Nonetheless, the loan funding helped us maintain staff because it's been a trying year. We were in the hole and were looking to have to furlough an employee or two. It came in right in time when we were having to make the tough budgetary decision.

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    Rated with 4 stars
    Verified Reviewer
    Original review: June 26, 2021

    I applied near the end of May for a 2nd round PPP loan. I would have used my bank, Prosperity, but the SBA was already declining loans by them. It seemed SmartBiz Loans was one of the few places left that was still taking applications and still had the ability to get 2nd round PPP loans approved by the SBA. As a result of this, I think, they were swamped way beyond their expectations and had trouble even coming close to keeping up with email, much less phone calls, etc.

    It only took 3 days for my loan to get approved and receive an SBA #, but then the real waiting started. My loan was "in funding" for about 4 weeks. That's unusual for a loan these days, but it makes sense given SmartBiz Loans being swamped. They answered my emails each time I emailed, but it took a few days for them to respond most times. There was a problem with my loan funding name information, and it took and extra 10 days to fix it. The funds did, finally, arrive in my bank account. SmartBiz Loans, although slow, was courteous each time I contacted them despite being swamped. From what they must have learned from this massive PPP loan process, I suspect they will be one of the fastest loan sources around once the PPP madness is over. And it remains to be seen how helpful they will be during the loan forgiveness process.

    4 people found this review helpful
    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 25, 2021

    There were no hiccups with SmartBiz. It was fairly easy to work through. The funding decision was made really quickly. It was just the time to funding was a little bit longer than I had expected, and I don't know if that had anything to do with the PPP process itself or with the final institution that was the lender. But the funding we got through SmartBiz was great. We worried about the people that I have working for me not having to cut back their hours and stuff to keep things going. Being in the service industry that I'm at and especially in architecture, sometimes it's a really long time before my clients pay. Last year kind of took anything I had kind of backed off to do it. So going through SmartBiz was very helpful to get us to the point that at least I could breathe now. Then I could wait a little bit longer until my clients pay me and I can keep the employees on and going.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: June 2, 2021

    SmartBiz Loans did really well. They didn't make us insane with emails, phone calls and text messages like many other companies did. When I worked with their rep, it was either via text message or email and the process was good. The only trouble I had was I never wrote down my first PPP loan information and that was a struggle. We couldn't have gotten the loan if I didn't have the confirmation numbers. Other than that, it went easy. That extra 20,000 we got has been able to help us stay afloat. We're able to buy more of our supplies upfront. If we buy in bulk, it's always going to be cheaper.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: March 17, 2022

    I got an SBA loan from SmartBiz. The rep was great and very helpful. He always answered my questions. So, it was good. I’m happy with the result.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 31, 2021

    Matt was very good. He was really helpful. He made everything really, really easy. The interest rate was pretty good. I got a 6% for 10 years and 150,000.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Dec. 9, 2021

    I was so impressed with SmartBiz because the process was smooth. They only took two and a half weeks to get it done, even during the holiday season. Also, their rep was courteous and knew what he was talking about. He always asked me for whatever I needed ahead of time.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Nov. 10, 2021

    Their process was easy and very self-explanatory. I had a good experience working with them.

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    Rated with 5 stars
    Verified Reviewer Verified Buyer
    Original review: Oct. 21, 2021

    The loan process was pretty quick. We did everything online.

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    SmartBiz Loans author 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.

    by Barbara Friedberg Personal Finance Advisor

    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:
    2009
    Address:
    417 Montgomery Street
    City:
    San Francisco
    State/Province:
    CA
    Postal Code:
    94104
    Country:
    United States
    Website:
    www.smartbizloans.com