Streetshares offers short term loans,
lines of credit, and contract financing.
Streetshares offers a business line of credit up to $250,000.
Additionally, Streetshares' contract financing starts at rates as low as
1% per month.
Additionally, Streetshares charges a loan origination fee between 2.95%
and 4.95% of the loan amount.
For qualified borrowers that require more than Prosper can provide, we suggest applying with Streetshares.
While Streetshares is our recommended peer-to-peer lender overall,
it may not be the right choice for everyone.
Based on this evaluation criteria, we have selected Streetshares as the best peer-to-peer lender for small businesses.
Streetshares offers small business loans and lines of credit for veteran-owned businesses with APRs
ranging from 7.19% to 29.9%.
Peer-to-peer small business loans and lines of credit from Streetshares have an annual percentage rate(APR)
ranging from 7.19% to 29.9%.
For borrowers that aren't currently generating $75,000 or
more in annual revenue, Streetshares, Prosper, or Upstart may be better options.
Streetshares offers peer-to-peer small business loans
ranging between $2,000 and $250,000, and small business lines of credit from $5,000 to $250,000.
The Patriot Express Line of Credit, which is offered by Streetshares, offers veteran-owned businesses a line of credit up to $250,000.
If your business needs a loan greater than the $100,000 that Streetshares can lend,
you may need to look at other financing options.
Lending Club has higher minimum requirements than Streetshares, which indicates that it is looking to cater to businesses
that are a little more established.
When comparing Streetshares to Funding Circle vs Lending Club,
Lending Club can lend up to $300,000 and Funding Circle can lend up to $500,000.
The APR range for peer-to-peer business loans through Lending Club of
9.77% to 35.71% is slightly higher than those of Streetshares at 7.19% to 29.9%.
The Small
Business Administration(SBA) is an excellent resource for veteran business owners, and many private lending institutions like Streetshares also offer great business funding
options for veteran entrepreneurs.
Streetshares offers the lowest APR range of any of the peer-to-peer
business lenders that we reviewed, with the exception of Prosper who has a lower starting APR.
If your veteran-owned business has annual revenues of $25,000 or more- the lowest revenue requirement on our list- a credit score of 600
or higher, and has been operational for one full year, you can qualify for a line of credit from Streetshares.