Lender review
SoFi Business Loans, Reviewed
An FDIC insured bank lender offering transparent APR pricing up to $250,000, with no origination fees and same day funding.
Lender review
An FDIC insured bank lender offering transparent APR pricing up to $250,000, with no origination fees and same day funding.
SoFi Business Loans are originated directly by SoFi Bank, N.A., and priced in a real APR rather than a factor rate, a genuine point of difference from most fast funders on this network. Combined with no origination fees, no prepayment penalties, and same day funding for loans signed before the daily cutoff, it is one of the more transparent products here. SoFi does not publish its exact credit score minimum, but its positioning toward established business owners with strong personal credit suggests a bar well above what a revenue based funder would accept.
SoFi Business Loans are a direct small business lending product from SoFi Bank, N.A., offering $2,500 to $250,000 in financing priced with a transparent APR rather than a factor rate.
What separates SoFi Business Loans from most fast funders on this network is pricing transparency. Rather than a factor rate that requires extra math to understand, SoFi quotes an actual APR, the same way a bank or SBA lender would, which makes it far easier to compare directly against other offers you receive.
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Exact rates and loan amounts vary by product and by applicant; see the product breakdown below for details on each one.
SoFi Business Loans is a single, focused product: a direct small business loan priced in APR rather than a factor rate.
| Small business loan | $2,500 to $250,000, originated by SoFi Bank, N.A., with no origination fees and no prepayment penalties. Loans signed by 2:45pm ET can fund the same business day. |
Rate, term, and amount figures are set per applicant during underwriting.
SoFi Business Loans does not publish a full list of minimum requirements, so what follows reflects the lender’s general positioning rather than a confirmed cutoff.
SoFi has not disclosed an exact minimum. Given its focus on established business owners with strong personal credit, expect a bar in the high 600s or above, closer to a bank loan than a revenue based product.
SoFi does not publish a specific minimum, though its positioning toward established businesses suggests a preference for 2 or more years of operating history.
SoFi has not published a specific revenue threshold. As with any bank originated loan, expect your ability to service the debt from operating cash flow to be a central part of underwriting.
Because SoFi discloses less detail than some lenders on this network, checking your rate through SoFi’s soft pull process is the most reliable way to see where you stand before committing to a hard inquiry.
The application runs through SoFi’s platform, with a soft credit pull to check your rate before you commit to a full application.
Submit basic information to see your rate. This uses a soft credit pull and does not affect your credit score.
If you move forward, SoFi runs a hard credit inquiry as part of final underwriting.
Loans signed by 2:45pm ET can fund the same business day.
Unlike most fast funders on this network, SoFi quotes a real APR rather than a factor rate, making true cost comparison straightforward.
No origination fees and no prepayment penalties mean the quoted rate is closer to your actual cost.
Loans signed before SoFi’s daily cutoff can fund the same business day, competitive with much faster alternative lenders.
SoFi Bank, N.A. carries FDIC insurance, a level of regulatory oversight most online lenders do not have.
Checking your rate does not affect your credit score, so you can see your terms before committing further.
SoFi does not publish its exact credit score or revenue minimums, making it harder to self assess before applying.
SoFi does not offer a line of credit, equipment financing, or other product types, only its business term loan.
$250,000 is a meaningful cap if your business needs a larger amount of capital.
Yes, for its small business loan product, which is originated directly by SoFi Bank, N.A.
SoFi does not publish an exact minimum. Given its focus on established business owners, expect a bar in the high 600s or above.
Loans signed by 2:45pm ET can fund the same business day.
SoFi offers a single product, a small business loan from $2,500 to $250,000, priced in APR rather than a factor rate.
SoFi has not published a full list of requirements. Its positioning toward established businesses with strong personal credit suggests a bar closer to a bank loan than an alternative funder.
No. Checking your rate uses a soft credit pull. A hard credit inquiry occurs only if you move forward with a full application.
We score lenders on loan cost, eligibility and accessibility, funding speed, and customer experience, drawing on the lender's own disclosures, public complaint records, and third party review platforms. Ratings are reviewed monthly and reflect our independent analysis; lenders cannot pay for a better score.
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