SBG Funding

SBG Funding Reviews

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About SBG Funding

SBG Funding is a business financing firm with a quick online application process for various business loans. You can get a term loan or business line of credit as well as financing for equipment or to borrow against invoices. Businesses need to be in operation for at least six months and meet other borrowing criteria. Both loans and lines of credit do not have prepayment penalties.

    Pros & Cons

    Pros
    • Convenient online application
    • Options to pay weekly or monthly
    • Term loans up to $10 million
    Cons
    • High minimum revenue qualification
    • Limited information online about credit requirements
    • No inventory financing or asset-based loans

    Our editor’s take

    For small business funding, SBG Funding offers term business loans, lines of credit and other types of loans. It provides loans that are partly backed by the Small Business Administration (SBA) and loans specifically for equipment and invoicing capital.

    If you meet the basic criteria to qualify for a loan or other type of business financing, you can apply quickly online with SBG Funding. The company states that most applicants receive funding within 12 hours or by the next business day.

    How does SBG Funding work?

    If you run a small business that has been operational for at least six months, you may qualify for funding with SBG Funding. Determine what type of loan you require before applying online.

    For larger needs of up to $10 million, you can try the term loan or SBA 7(a) loan with SBG Funding. Business lines of credit and bridge capital loans are shorter-term options that may serve you. For most SBG Funding products, you need at least a 600 FICO score to qualify.

    SBG Funding products

    Whether you want a small business term loan or a line of credit to only access what you need at any given time, SBG Funding has plenty of options. It offers small business loans, lines of credit and the ability to borrow against unpaid invoices, among others.

    Small business term loan: Get financing of up to $10 million with term lengths of six months up to 7 years. Your business must have been operational for at least six months, have at least $250,000 in annual revenue, and have a minimum FICO score of 600.

    Business line of credit: An SBG Funding business line of credit provides revolving credit for six to 24 months. Credit lines go up to $750,000 and you only pay for the amount you use, with a starting rate of 1% per month.

    To qualify for a business line of credit, you need to have been in business for six months, have $350,000 in annual revenue, and have a FICO score of at least 600.

    Bridge capital: A form of business funding for shorter-term needs, a bridge capital loan provides up to $1 million in funding with terms from six to 24 months. Qualify with $250,000 or more in annual revenue, four latest bank statements, and a minimum FICO score of 600.

    Equipment financing: With terms from one to seven years and rates beginning at 3.75%, SBG Funding can finance up to 100% of the value of business equipment.

    Invoice financing: Borrow against unpaid invoices to get paid up to 90% on eligible receivables.

    SBA 7(a) loan: You can take out SBG Funding loans that are partially backed by the Small Business Administration. There’s no down payment, a maximum of $10 million, and terms from two to ten years. Interest rates begin at the prime rate plus 2.5%. You need two years in business, profitability and a minimum 650 FICO score.

    SBG Funding costs

    SBG Funding’s website states the starting interest rates for its business financing options, but information on other fees and charges is not included. For business term loans, you pay rates starting at 1.75% per month at the time of publishing. For a business line of credit, interest rates begin at 1% per month. If you select bridge capital funding, rates start at 1.92% per month. If you need equipment financing, the rates begin at 3.75%. Using SBG Funding for invoice financing means 0.25% interest weekly. Finally, getting SBA 7(a) funding gives you a starting rate of prime plus 2.5%.

    SBG Funding FAQ

    Does SBG Funding do a hard credit check?

    Applying for a loan with SBG Funding will not affect your credit score, as it conducts a soft credit pull to decide if you’re approved. However, it does a hard credit check before disbursing funds.

    Does SBG Funding require collateral for business loans?

    SBG Funding does not require collateral unless you are applying for equipment financing or an SBA loan. SBG Funding loans are therefore unsecured.

    What credit score is needed for an SBG Funding business loan?

    To qualify for a business loan and other types of business financing with SBG Funding, your business must have a minimum 600 FICO score and meet other financial criteria.

    Is SBG Funding legit?

    Businesses can use SBG Funding to secure necessary funding to achieve maintenance and growth. However, SBG Funding doesn’t offer asset-based loans or inventory financing, unlike some other business lenders.

    Although SBG Funding offers rapid loan approval and funding, its available online information may be misleading. For example, the FAQ section states that you need above a 500 FICO score to get a line of credit, but in the main business line of credit section, the minimum listed is 600.

    Your loan specifications will depend on your business and its financial performance thus far. As with all loan products, it’s crucial to understand the term length, interest rate, fees and other penalties involved before borrowing money.

    SBG Funding Reviews

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      How do I know I can trust these reviews about SBG Funding?
      • 4,480,424 reviews on ConsumerAffairs are verified.
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      • We use intelligent software that helps us maintain the integrity of reviews.
      • Our moderators read all reviews to verify quality and helpfulness.
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      Punctuality & SpeedStaff

      Reviewed May 10, 2024

      I Want to thank Zachary for all his help with my line of credit. He was professional, fast and friendly and catered to all questions. He was also so patient and accommodating to my schedule and needs!

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        SBG Funding Company Information

        Company Name:
        SBG Funding
        Address:
        240 W. 40th St., Ste. 8
        City:
        New York
        State/Province:
        NY
        Postal Code:
        10018
        Country:
        United States
        Website:
        sbgfunding.com