StreetShares

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Consumer Reviews and Complaints

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Satisfaction Rating

They are very helpful and help walk you through the process and are very good at answering any and all questions. Customer Support is very easy to contact and hardly any wait time. The application was smooth and easy. Rates and terms are competitive. They seem to be comparable to other companies. I think they could be a little lower but overall it's not too bad. Online tools are very easy to use and straightforward. All the information you need is readily available and it's easy to navigate. I am very pleased with the site.

on
Satisfaction Rating

I found the experience to be delightful and the customer service people to be very insightful plus their advice was right on the money! The salesperson kept track of all the relevant documents and made sure to hold my hand every step of the way! The transaction went smoothly and we closed on time without any stress! The rate was quite aggressive but there were one or two other places where they were lower! The other well-known places were not chosen because of extra fees! The tools were insanely helpful with regard to finding the right term and the amounts to borrow to keep the business running smoothly! Also gave you an idea of cost savings!

on
Satisfaction Rating

My experience has been relatively pleasant in regards to my loan. Pretty cut and dry. Customer service is also pretty helpful. Every question I have has been adequately answered. The application was pretty standard given my limited knowledge of applications. The turn around from the application process was pretty quick to my surprise. The rate and terms were explained at length and I was left with a very strong understanding of what I was getting myself into. The online tools were very very helpful and easy to use. I saved a lot of time and energy just handling things online. No complaints. I am satisfied.

on
Satisfaction Rating

I never had any problems with this company, so it is easy to give Customer Service a very high rating, as I never needed it! Doing it right the first time is better than needing customer service! The application was simple, with all requirements for documentation about my business spelled out in very specific terms. I was able to have everything they wanted the first time, but only because they were very specific about what was needed. Rates and terms did not vary much from company to company, and so was not as much a factor as the ease of application, and the lack of necessity for Customer Service afterwards. There was a couple of paragraphs on 'what to expect' when coming to the office.

on
Satisfaction Rating

I couldn't get a very big loan because I don't have much credit but they still tried their best and did for me what they could which is more than most places do so that was nice. You give them all your information and they run you credit. Fill out a couple pages of information either online or at one of their locations and they review it. It's just like any other loan be it a personal loan, home loan, etc. - there's interest of course. The faster you pay it off the less interest you acquire. I prefer to do everything online so the fact that I could do my application and the entire process in there made everything easier for me. Didn't have to go anywhere - just spoke to a representative on the phone.

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on
Satisfaction Rating

Very great and settled problems quickly. Very friendly and nice people and would recommend to family and friends. Very intelligent people and the best company I've dealt with so far. Only satisfied because really? Who likes any type of application process. I know I don't. But still cared for quickly and conveniently and very friendly once again. Love the way they deal with this as well. Very helpful and nice as to why this needs to be done and don't be afraid to ask question - that's what they are there for. Don't go online much so no need for me but when I had to fill out a claim it was the fastest of all and very convenient and trustworthy.

on
Satisfaction Rating

I needed to change my bank account information in order to repay the loan. Once I contacted customer service, they immediately assisted me. It was a smooth process, and I did not have to hold on for long on the phone. In addition, anytime that I've e-mailed them, they've responded back extremely fast. Simple, quick, and fast. They called me the same day, asked me to verify some of my information, and then approved it. I was extremely happy with the entire process. The interest rate was fair, and they were transparent. I wish the rate was a bit lower though. However, their rate was still very good. They have simple tools, but just enough to get everything completed. There is not much that they would need anyway, as the payment process is automated.

on
Satisfaction Rating

Great innovative tools for customizing my preferences that has best suited my business and aids in most of my advertising. It has greatly improved our customer size and our sales. Easy to use as well as informative. Very easy and simple application process that walks you through the whole process explaining everything in detail so that I am left fully understanding the whole process. It is truly a really great tool. Rates are fair and extremely helpful in guiding me throughout the entire process. If I had a question about anything there was a chat function readily available to me. As I have already mentioned the online tools are simple and easy to use and make the whole process very quick and in the end very helpful and worth it all.

on
Satisfaction Rating

They were very helpful to me when I contacted them before when I needed help one time. I would think they would do the same thing for me in the future when I contact them. The application process was a normal application process and didn't take too much time during the day. It was standard information they needed to apply. The rates and terms are overall pretty decent and I think they are fair among the competition. I think they are pretty usual compared to other rates and terms. The online tools from this company have been helpful to me and have guided me to answers that I needed more help with. Very easy to navigate to these answers.

on
Satisfaction Rating

My experience was just satisfactory because the representative was not knowledgeable about the exact nature of my document imaging business. The application was easy and the instructions were very clear as to how to apply. I was quite pleased with this process. The only draw back was the length of time it took. I was not pleased because due to the fact that customer service did not comprehend the nature of my business I was turned down for the loan. Tools were extremely helpful in finding which loan to apply for as well as making my experience a good one. Unfortunately the tools did not help me get the loan.

Expert Review

Barbara FriedbergPersonal 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.    More about Barbara→

StreetShares was founded in 2013 with the goal of creating a way to help small businesses access funding. The company matches business owners with investors to provide both groups with financial success.

  • Support veterans: StreetShares was founded by veterans, and the company prioritizes supporting veterans’ businesses. All businesses can apply and may qualify, regardless of whether they are owned by veterans.
  • Community funded: When applicants apply for a loan, StreetShares’ community of investors bid to finance them. The lowest bids are then combined to offer a single loan to the business owner. This model provides maximum profits to the community of lenders, made up of military members, veterans and accredited investors.
  • Loan amounts: StreetShares makes loans in amounts between $2,000 and $100,000, allowing business owners to only borrow what they need. Businesses are eligible for loans up to 20 percent of their annual revenue.
  • Low fees: Applicants for StreetShares funding do not pay an application fee, and the origination fee is determined by their credit and size of the loan. Their late fees and returned payment fees are lower than a traditional bank’s.
  • Borrower’s Bill of Rights: To ensure that business owners are treated fairly, nonprofits and some financing companies created the Small Business Borrower’s Bill of Rights to outline what good lending practice should be followed. StreetShares is a signatory and has posted the list of rules on their own website.
  • Best for StreetShares provides financial services to small businesses, especially those owned by veterans.

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StreetShares Company Profile

Company Name:
StreetShares
Year Founded:
2013
Address:
1985 Isaac Newton Sq
City:
W Reston
State/Province:
VA
Postal Code:
20190
Country:
United States
Website:
https://streetshares.com/