SmartBiz Loans
AUTHORIZED PARTNER

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 3 Reviews 35 - 65
Customer increased Rating by 3 stars!
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Verified Reviewer
Resolution response: May 20, 2021

Update!! From the time I signed loan documents to the funding of the loan I only received 2 email responses after several emails. I finally received a phone number to call that actually answered, that took four phone calls, one rude customer service person, then finally a customer service person that took the time to explain and check on the file, after that it was 4 days to funding, but no notice it was happening, it just showed up in my account....

Original review: May 13, 2021

My experience started out very well and quickly become bad! I applied for the SBA PPP Loan on 4/23/21 and everything was processed quickly, by 05/01/21 the SBA PPP loan documents with a loan number were sent and I signed that morning before 8:30 am. After that nothing. Like a lot of other people I've called and the contact phone number is useless. I've emailed them over and over, no response. I emailed the Bank that it was supposed to be funded through, providing the application number and the SBA Loan number, no response. I have signed the loan documents for this loan and am responsible now for the loan, but have not received the loan. I thought this company was a reliable company...I believe I've been really stupid....

8 people found this review helpful
Rated with 3 stars
Verified Reviewer
Original review: May 12, 2021

SmartBiz please assist, I put the wrong email on my application and it will not allow me to change it. I received my first draw ppp loan but now I need to change my email before the documents are sent to the wrong email.

Be the first one to find this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 11, 2021

I finalized the application, immediately got a pre-approval response, uploaded all documents, but my loan overview has not moved from the "review process". I have emailed 4 times, attempted to call, but NOT ONE response or update. Ridiculous.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 8, 2021

All these good reviews are fake. Funny how they all sound alike, the bad ones seem more legit as everyone I’ve talked to about Smartbiz has had issues. No response, no loan papers for PPP. I was supposed to sign already according to email I received and now can’t get anyone to respond to help. Funds have run out but was able to get my application in to a few other lenders as originally this was the only place I applied to but all the bad reviews and horror stories I heard about them got me nervous. As excited as I was to be able to get applications in with other lenders it does me no good until Smartbiz withdraws my applications.

I’ve tried so hard not to have to get a PPP loan and I’m literally drowning at the end of my rope. I was relying on this loan as without it everything I worked for and built up will be gone. I can’t believe they are playing with people’s livelihoods like this. My blood pressure has been thru the roof, heart pains and every day panic attacks has become my new normal. I don’t understand why they can not respond especially because my email was flooded with responses before I applied.

I read that they are making money off every loan so they submit all of them, get the PLP number then take their time as they know we can’t go anywhere else. Please please please let me know my status. I understand it is busy and I appreciate all the hard work but I deserve to know what’s going on. If I got a straight answer or response from the lender with an approximate time I’d be relieved even if it would take time. I just want a response where I stand.

22 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 7, 2021

I applied for a PPP loan a month ago and have received two emails saying it was processing in the beginning and nothing again. I tried calling but its says to email and I've now emailed a bunch of times and no one has gotten back to me ever. Is this just a big scam?

14 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 7, 2021

I applied for a PPP loan on April 5, 2021 and signed the loan docs on April 15, 2021. And then, nothing, until yesterday when I received an email stating that I was declined. What?! Why?! After I have received an SBA number and signed the docs? I sent an email with questions but after reading these complaints I have very little hope that my issue will be resolved or even responded to. The program is now depleted and I was sure that I was okay. My experience with Smartbiz has left me with a sour taste in my mouth. Hopefully, this issue can be resolved and my business can receive the funds it so desperately needs.

22 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 5, 2021

I applied for a PPP loan with SmartBiz on March 24. I received an application number and it said 100% complete. I emailed several times for an update. No response. I call only to get a recording that doesn't allow you to speak with a person. I originally went on Kabbage to apply but they referred me to Smartbiz. I am beginning to think this is a scam. They now have all my business information and I cannot get an answer on my PPP loan. Do not use this company!

23 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 4, 2021

I hate companies that do not respond to customer inquiries. These guys are a joke. They quickly processed my PPP application and sent loan docs for signature. I signed immediately and returned to them. That was 3 weeks ago. Not the "couple of days to funding" promised. No answer to multiple emails.. just dead air. A simple "we are working on it" would be nice. But I guess that's asking too much. I will not use them again and recommend that you steer clear.

27 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 1, 2021

I have attempted to contact Smartbiz who brokered my 1st draw PPP loan with Customer Bank. I have put tickets in, made phone calls, spoke with Customer Bank who referred me back to Smartbiz, and still no one is helping me.

1. Loan forgiveness package

2. To have my 1st draw the following info needs to be changed so that I can get my 2nd draw.

No one answers...they tell you to send an email, which I have done all of the above for the last 3 weeks. They are hurting my business by not responding.

20 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 30, 2021

I have an application that I sent in since 3/12/21 (over 1.5 months ago) for my ministry for a PPP loan. I have sent over 6 emails and today I get an email that they can't submit it because "Improper guarantor identity authentication". Mind you, you have to submit countless of documents in order to verify identity and it would have been zero issues for me to send them whatever they needed to verify. This denial is just a blow off. I understand you have countless of applications, but now they are just writing people off. Our ministry helps the homeless and addicted people in the streets and we need all the help we can get. To get this kind of treatment is so disheartening, especially when you really need it to help others. I would love to be able to give a positive review, but no one will get the help they need through SmartBiz. :(

29 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 30, 2021

Close to 100 approved and FUNDED loans in 2 months. Their website says that they pay 7-10 business days after the loans are funded. Never received a payment. They have not responded to any of my emails.

SmartBiz Loans response

Dear Deshayla,

We apologize for not being responsive to your emails.

Our payment terms on funded PPP loans are 30 days after SmartBiz Loans receives payment from the lender. This is described in the terms and conditions you accepted under the Company’s Marketing Partner Program Agreement: https://resources.smartbizloans.com/wp-content/uploads/SmartBiz_Partner-_Terms.pdf

Please note: Do not use the fee calculation information in the Partner Portal because it has not been updated to reflect the terms for the current PPP program. The calculations shown are based on our traditional SBA and term products.

Thank you for working with SmartBiz Loans to get your clients the funding they need.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 27, 2021

I applied for the PPP with Smart Biz online, was approved and signed all documents. I then received verification the funds would be released in1-2 business days, that was 12 days ago. I have tried to call several time and only receive a recording that repeats over and over. I now have emailed them 3 times as the recording prompted and still have heard nothing??? Am I the only one having this problem???

60 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: April 27, 2021

Smart Biz Loans was the one to funded my first round PPP loan so I figured they would streamline the process for the second round PPP loan. I could not have been more mistaken. I have submitted my application 45 days ago and I’ve gotten not a single response on it. They haven’t even looked at the application once. It’s literally sitting just as if I just submitted the application after 45 days. What the heck is going on.

I’ve sent them probably about two dozen emails in that timeframe. I’ve only gotten one response and they said, "Oh you should hear back in about a day or so." A week later here we are and I’ve gotten nothing from them. It’s a pretty simple business, one owner, sole proprietorship. The application is pretty straightforward. I don’t understand what takes so long just to even look at the application and move along the process. It seems like they’re not even in business anymore because of the lack of response I’m getting. And the fact that my application hasn’t moved anywhere after 45 days this is completely unacceptable.

21 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 23, 2021

I was having trouble for months with the bank. Once I went to SmartBiz' website, I did it in less than a day. I got approved right away. I ended up getting the PPP. Their software is so savvy that you don't even need help. It's great. It's super easy and fast. I fell in love with it. They're very communicative via email. They don't drop the ball. They're constantly updating. That's something that I like, too. Working with them helped me pay rent. It also helped me keep one of my employees employed. I'm trying to refer people to SmartBiz. I did recommend another business, and they also got approved.

5 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: April 23, 2021

Applied for 2nd PPP loan. I have received no response in 36 days. My app was deemed by them completed on March 17th. There have been no requests from them for me to provide more info. Terrible company.

25 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 22, 2021

I did everything I was asked but still haven’t heard anything in regards to the loan or anything else. I’m starting to believe this company is a fraud and if they are not going to help just please release my application so I can try another loan agency.

52 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: April 20, 2021

I applied on 4/6/21 and signed funding documents on 4/15. The same day my account went into funding status on Smartbiz website. It still says I am in funding and it typically takes a few business days for funding. Now on 4/20 I still haven't received the funds and I can't get a straight answer. I just wish some could truly tell me what is going on. Hopefully something changes and I can update.

46 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 19, 2021

I thought that Smartbiz was wonderful, until today. I received my SBA Loan number and even got funded. Unfortunately, my bank rejected the deposit. Then today I look up my status and it states SmartBiz - Improper guarantor identity authentication. I do not know what to do from here and no one will return any of my emails. I have already been funded so are they keeping my money?

66 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 15, 2021

Applied for SBA PPP loan. The application seemed clear-I completed it as required. Every day I received an email for one more upload-even though I had completed the initial list. I assumed there would be an end...finally I was informed that it was reviewed and ready for the lender. For about a week I received a can email every other day and then NOTHING!

No explanation. No answer to emails. What a waste of valuable time-the company clearly knows there is a time limit, that as a small business in these very challenging times we are in need of a loan to stay in business. 3 weeks plus-I'm embarrassed I was so easily fooled. Looking back it seems like it was all automated. I'm a small business (vital to our community) but I'm guessing their profit is with bigger fish. Frustrating, discouraging, painful experience. (When you're barely hanging on, the lack of any apparent commitment to help is so hard to take...).

21 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 13, 2021

My wife applied for a loan for our small business over the internet. They asked for some follow-up paperwork, we e-signed for the loan, and it was deposited into our account. They were very fast with the loan and we appreciate their help. They really seem to work well with the government.

10 people found this review helpful
Customer increased Rating by 2 stars!
Verified Reviewer
Original review: April 12, 2021

I applied for a loan from them almost a month ago. I referred 3 friends to them. All of which who have received their PPP money by now. But they haven't gotten to my application yet. I try to call, and they won't accept calls right now. They have ignored my multiple emails for the last few weeks.

SmartBiz Loans response

According to our records, it appears you applied for an SBA 7(a) loan not a Paycheck Protection Program (PPP) loan. As of now, it appears you do not meet the minimum requirements for an SBA 7(a) loan through our bank partners.

If you were intending to apply for the Paycheck Protection Program (PPP) loan, you need to apply here:

https://www.smartbizloans.com/apply?sb_apply_form=paycheck_protection

Please let me know if you have any other questions.

5 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 11, 2021

I went online and I subscribed to SmartBiz, and I get emails, news and updates from them. Their signup process is much easier. It was faster, too. In the beginning, I kept getting declined and I didn't know what to do with all that government site but when I reached out to SmartBiz, they sent me an email and showed me exactly how to do it. It was really easy. I got a little grant of 1,000 and then I did a PPP because I have a quilting-sewing business and a craft. I started out three years ago and then in ‘19, I was starting to take off. I had to push it hard because I got closed in. I couldn't leave my home. I had to travel 1,000 miles to sell my quilts. So, I lost a lot of money in 2019.

Since working with SmartBiz, I can now buy more supplies to replenish my inventory. I'm starting out again to start making more product to sell, to replenish my product and then buy my Quilture that I was trying to do last year. A Quilture is thousands of dollars. SmartBiz really helped me a lot, and now I got a little pay check with the 3000 from the PPP loan.

You should subscribe to SmartBiz, read up on their site and contact them if you’re having any trouble. They will surely help you. It's a fantastic group of people. It's a good company for small businesses, and it will make you feel more comfortable even during the worst times. Through the pandemic, it’s helping small businesses build and to be successful, and helps guide them properly. They have been so awesome.

6 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 10, 2021

I applied to four people at the same time. SmartBiz Loans was the first one to respond to me, and it was very quickly. Then they assigned a guy. He was outstanding. Within days, the process was done. I was shocked. I applied to a bunch of people because apparently, it doesn't matter where you apply to as once you get one, all the other gets canceled. I liked SmartBiz a lot because their application was much more straightforward than others. Their IT system is very streamlined. They're very professional, very efficient, and their follow-up is phenomenal.

2 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 9, 2021

My CEO forwarded me a link for SmartBiz Loans which we received. We were desperate to apply for PPP and I went ahead and used this link, and it was awesome. I just submitted the documents they requested and answered the questions. It was very easy. Then after I submitted, they were communicating and said that they received the application, it's in process, then they are reviewing it, and it's going to SBA. It was very helpful. If I had any questions, I emailed them. They replied back and we received the funds after a week. They were 100% awesome. They helped us financially with cash flow and be paid off. We use them for PPP loan and they were very helpful and I would highly recommend them.

Be the first one to find this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: April 8, 2021

I bank with Chase. They didn't do the PPP too long. There were also some alternative sources, and SmartBiz was one of them. I clicked on the website. It seemed simple to do, so I went ahead and did it. Everything was very easy. The first couple email were kind of depressing because they said that the Small Business Administration is really slow on these things. Then they said, “Your loan is impressive.” I responded. From the time I first sent the application in to the time it was funded, it was like less than three weeks. It was very quick and easy. I was very happy. I needed that PPP loan to not have to get rid of a couple assistants. So, it was very helpful.

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Rated with 1 star
Verified Reviewer
Original review: April 7, 2021

The worst customer experience of my 34 years. They play with your money, hold it hostage, send mixed stories depending on who you talk to. It says I was funded on the 2nd and I am still waiting. 10 emails a day with barley any response. Do not waste your time here. I beg you, stay away if you value your time or money. They had the nerve to ask me to review my experience as I still wait for money that should have been funded to me days ago. It has been a nightmare and I have about given up hope on ever receiving these funds. Miserable experience. I'd rate 0 stars if I could.

40 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 7, 2021

Applied for PPP loan on 02/18/21 and loan still in process. More than 1.5months! Tried multiple times to contact SmartBiz Loans and there is no customer service whatsoever. No one returns emails or calls. At this point, I'm trying to find out what other alternatives I have with other lenders. Please don't waste your time with SmartBiz.

30 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 6, 2021

SmartBiz is terrible! This company has been holding my PPP application hostage since 2/19/21. I've called and emailed to no end with no response and no loan. In fact, my loan application status has regressed. Per the SBA, I'm unable to apply with another lender unless SmartBiz withdraws my application. This company is going to sit on my application until the PPP funds RUN OUT!

People have been commenting under SmartBiz's social media posts on Facebook and Instagram for weeks just to receive some form of communication from this company. SmartBiz appears to be deleting commenter's posts! They should use that same energy to process loan applications!!! SmartBiz is not equipped to handle PPP loan applications and really should just stop accepting any new ones. Yes, they are posting on social media inviting people to apply for PPP loans! Please do not trust the positive reviews of SmartBiz on this site as it relates to PPP loans.

25 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 2, 2021

I have been under review since January 21, 2021. As of today (April 2, 2021), the website states that my application is still "Under Review." On 3/27/21, after numerous unanswered emails, Bernard ** replied to tell me that it looked like my application would be denied because of "Improper Guarantor Identity Authentication." I asked him what that meant and he said, "Improper guarantor identity means the processing team was not able to verify that person." I replied, "How is that possible? I have uploaded all the personal required documents you've requested. From my Tax returns, Social Security card, Driver's License, to my Articles of Incorporation, I've uploaded everything you've asked for and then some. What else do you need from me? How can this issue be rectified?" Neither that email or any of my emails after, have been returned.

I have reached out to Bernard ** at **, Nathan ** at **, loansupport@smartbizloans.com, support@smartbizloans.com, partners@smartbizloans.com, info@smartbizloans.com, and no one has returned my emails. I have been waiting for an answer since January 2021. There has been no respect for my time or my business. As a courtesy, I should have received a concrete answer to my loan application by now. It has been almost 3 months. If they are having a problem verifying my identity, they should at the very least, let me know what I can do to fix the issue. But again, my emails remain unanswered.

I've heard good things about this company in the past, but now, after reading the hundreds of other negative reviews about their lack of communication and consideration for small business owners, I wish I'd done more research before applying with them. Would be happy to write a positive updated review stating that the issue was resolved, I was approved, and funded. PLEASE RESPOND. APPLICATION #**.

29 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 2, 2021

Weeks have gone by with them pretending to be evaluating my PPP loan application. This company only wants high dollar loans, so if you're an actual small biz, these guys aren't interested. Terrible customer service, and now my company is at greater risk of failure because of the time wasted with Womply and Smallbizloans.

13 people found this review helpful
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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