Rapid Advance Review

rapidadvance-reviewRapid Advance stands out for its commitment in the success of its employees and clients. The company’s culture is to contribute immensely to its customers and to bring much difference in how small businesses operate. Rapid Advance’s energetic team makes a lot of difference when it comes to achieving the company’s entrepreneurial goals.

Rapid Advance is able to offer customer tailored services. Its alignment to the customers’ entrepreneurial spirit ensures that it gives them the right financial solutions. The majority of the customers are the small businesses of America and it gives them a platform of growth while at the same time ensuring positive impact on the society.

What type of funding does Rapid Advance provide?

Highlights

requirments_icon1Loan Amount
Easy and Flexible Terms

Terms
TBD

Fund received
Easy Approval Process

What do I need in order to qualify for funding?

No minimum requirement however, you will need to have government-issued ID photo, voided check from your business account, and at monthly statements at least 3 months. 

How do I apply to get funding?

To apply for funding from Rapid Advance is easy. You will need to your government-issued ID photo, voided check from your business account, and at monthly statements at least 3 months. You will be required to enter all your details online including information about your business after which you will be provided with an estimate of loan amount corresponding to the information you shared. After this, you will asked to provide more information about your business such as monthly sales and credit card details. Also, remember to share details on your projected use of the money. 

Find the right funding for your business

What is the process to receive funding?

The application and approval process is easy; within a day, you will have the money in your account if approved. 

Does Rapid Advance run a credit check? 

Yes 

Do I have to provide security or a guarantee? 

No  

Are there fees involved? 

  • Origination fee of up to 2.5% 
  • Effective APR 
  • Flat fee of between x1.09 and x1.31. 

What are the loan rates? 

The funding Rapid Advance gives is not interest-based but you will incur a flat fee of x1.09 – x1.31 

What documentation do I need to provide? 

A few documents are necessary when applying for funding at Rapid Advance. Such documents include: 

  • Government ID (Photo) 
  • Voided check 
  • Bank statements (3 months) 

How long will it take for money to get into my account? 

24 hours 

What happens in the case of a default? 

Rapid Advance assigns a collection agency to recover the loan amount for them, and can as well relinquish assets. 

Is Rapid Advance regulated? 

Yes