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Loan Builder Review


  • The application process is fast and easy
  • No extra fees
  • Low credit score requirements


  • Not available to businesses in some industries
  • No discounts for repaying early

Average Rating: 4

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LoanBuilder is a business loan company, established by Swift Financial in 2006 to provide small businesses quick access to funding. In 2017, Paypal acquired Swift Financial, and since then it has been operating as a Paypal service.

This company offers short-term business loans with zero origination fees, in which borrowers are obliged to repay a predetermined fixed fee along with the borrowed amount. What sets LoanBuilder apart from the other short-term lender services are:

  • Its many features such as its simple application process,
  • The fast turnaround time,
  • Their service for multiple different industries, and
  • Having an online “Configurator”

According to LoanBuilder loan services reviews, the company offers loans ranging from $5,000 to $500,000 depending on your business eligibility. Before being under PayPal, Loan Builder was a product of Swift Capital LLC, which is technically still the entity that serves the loans.

Loan Builder Customer Service

LoanBuilder has also successfully gone through the well renowned J.D Power Certified Contact Center Program, which means that this platform is certified for providing quality customer service. However, LoanBuilder customer reviews point out that the service isn’t always reachable and the customers are frustrated with the unresolved problems they encounter.

What is customer service availability?

LoanBuilder’s customer service representatives are available via phone or email from Monday to Friday between 9 a.m to 8 p.m and on Saturdays from 11 a.m to 3 p.m.

How much loan can they provide?

According to LoanBuilder loan services reviews, the company offers loans ranging from $5,000 to $500,000 depending on your business eligibility

How good is their customer support?

LoanBuilder has also successfully gone through the well renowned J.D Power Certified Contact Center Program, which means that this platform is certified for providing quality customer service.

Along with these major factors, In this LoanBuilder review, we are also going to examine the following things:

  • Loan application procedure and terms
  • A detailed review of features of the loan providers & Cons
  • FAQ

LoanBuilder Borrower Requirements & Terms

Like all other business loan providers, LoanBuilder also has a set of terms and requirements for businesses to be eligible for their loans.

Here is an overview of the qualifications required:

                      Feature Data
Minimum time in business 9 months
Credit Score required 550
Annual Revenue Required $42,000
Borrowing Amounts Range $5,000 to $500,000
Borrowing Fee 2,9%-18, 72% of the total amount of time
Origination ( or any other fee) None
Funding time 1 business day
Location requirements The business must be based in the US
Bankruptcies No active bankruptcies.
Eligible industries More than 500 Industries. 
Personal Loan Guarantee required yes
Collateral UCC-1 blanket lien
Interest Rate 6.49% – 19.31%  – Fixed Rate
APR 24.83% – 49.94% APR ( Interest Rate + additional fees and charges – broker fees, closing costs, rebates, and discount points)

Pricing & Repayment

LoanBuilder’s repayment policy is plain and easy. The repayment period is pretty short, it lasts a maximum period of 54 weeks, which means that is not a viable long-term option. Each week this company will subtract a fixed amount from your business account via an automated clearing house (ACH).

Origination Fee and Other charges

When it comes to the origination fee, LoanBuilder doesn’t charge it, so you won’t have anything subtracted from the amount you receive. Also, LoanBuilder doesn’t have any additional charges except for the fixed borrowing fee which costs $20.

How To Apply For A Business Loan With LoanBuilder?

The application process for LoanBuilder is quick, easy, and straightforward. All you need to do is fill a simple and concise questionnaire online.

Here is the five-step breakdown of its application process:

  • The first step is contact and personal info- you will be asked to provide personal information- name, email address, contact number, and the intended use of the loan you borrow.
  • Business location – here you will need to submit your business location address and business phone numbers.
  • For Business details, you will need to supply information about your business entity type, trade name or DBA, annual business revenue, state of incorporation, start date, the number of full-time employees as well as the business industry and sub-industry.
  • On the final section of the loan, verify your identity and you will include your date of birth, SSN, what percentage of the business you own, and your federal Tax ID number.
  • Once you submit your documents, your application will go into processing, and Loan Builder will let you know if you’ve been approved or not. If you submit your application on a weekday before 5 p.m, your loan will be approved the next business day.

Based on the LoanBuilder application process reviews, it seems, people are happy with the company’s application process and procedure.

LoanBuilder Reviews

The company provides quick and easy access to get in touch with a representative over the phone, or through email, unlike many other online services.
According to LoanBuilder Customer Service Reviews, LoanBuilder

  • It has 9.6 on Trustpilot,
  • Paypal is rated an ‘A’ by the Better Business Bureau (‘ BBB’).

There aren’t many negative reviews of LoanBuilder, having an exceptional reputation regarding its latest lend history, is what makes it unique and ahead of the rest lending services on the market.
Not many negative reviews and an exceptional lend history reputation are what make it unique and separate it from other lending services on the market.

LoanBuilder Alternatives

If you are looking for some other alternatives to LoanBuilder before deciding on its services, you might want to consider some other lending services that rank high on the market. Credibly, is one of them. This service offers a bit more diversity in their loans, providing not only short-term loans but also more traditional, medium-term ones.

Kabbage is also one of its main alternatives on the market LoanBuilder Vs Kabbage: In comparison to LoanBuilder, Kabbage offers more flexible financing. A Kabbage line of credit is different from traditional loans like the ones available in LoanBuilder.

If you prefer to make weekly payments, LoanBuilder is the better choice of the two, while for a monthly payment you might want to consider Kabbage.

National Funding and Street Shares are also considered one of the main alternatives to Loan Builder.

LoanBuilder vs Street Shares

Street Shares is a Virginia-based company that focuses on small business loans for Veterans. It’s a viable option for borrowers who need money today, which is one today faster than LoanBuilder, being the main difference between the two.

National Funding vs LoanBuilder

In comparison to LoanBuilder, National Funding offers some of the most relaxed requirements which makes them a great candidate for borrowers with less than great credit.
The table below presents the main services these two loan companies provide:

LoanBuilder National Funding
1-day turnaround 24-hour turnaround
Good for small, short term loans Loans and lines of credit up to 500,000
Minimal requirements Equipment financing available

Wrap Up

LoanBuilder is the perfect option for businesses looking for short-term loans with precisely stated terms and conditions. The majority of LoanBuilder reviews are positive which only underlines the fact that this company is trustworthy and provides an overall satisfactory lending experience.


  1. Can my business get a loan if I have an active bankruptcy?

No, unfortunately, you can not get a business loan if you are facing active bankruptcy.

2. What industries are ineligible to get a business loan?

Here are some industries that are not eligible for LoanBuilder loans:

  • Agencies for artists, athletes, entertainers, and other public figures Independent writers, artists, and performers
  • Public administration
  • New and used car, ATV, RV, watercraft, boat, and motorcycle dealerships
  • Civic and social organizations
  • Financial service companies
  • Management companies
  • Credit bureaus
  • Environmental, conservation, and wildlife organizations
  • Collection agencies
  • Attorneys
  • Business and professional associations
  • Elementary schools, secondary schools, and junior colleges
  • Grant-making foundations
  • Gambling and related businesses
  • Gun stores
  • Human rights organizations
  • Labor and political organizations
  • Manufactured home dealers
  • Religious organizations
  • Voluntary health organizations
  • Nonprofit organizations
  • Holding companies

3. Will an eligibility check impact my credit score?

No, running an eligibility check will not affect your credit score.

4. Who is LoanBuilder’s business loan best for?

LoanBuilder business is designed solely for small businesses that need working capital quickly to meet urgent financial needs.

5. What is the LoanBuilder BBB rating? Is it accredited?

LoanBuilder is still listed as Swift Financial on BBB. Although it boasts an ‘A’ rating on BBB, the company hasn’t been accredited by the Better Business Bureau.

6. Does LoanBuilder report to credit bureaus?

No, LoanBuilder doesn’t offer its customer’s payment detail to credit bureaus. Anyway, timely payment is crucial for increasing your chances of getting more future loans.