Rapid Finance

Rapid Finance is a Landover, Maryland-based private lender that provides working capital and business financing to small and mid-sized businesses across the United States. The company has been operating for over twenty years and offers multiple financing products designed to serve businesses that need funding quickly.

Rapid Finance's product range includes merchant cash advances, short-term business loans, SBA loans, lines of credit, invoice factoring and commercial real estate bridge loans. This breadth means the company can serve a variety of business financing needs, from short-term cash flow management to longer-term growth capital.

A merchant cash advance is not technically a loan. Instead, the lender provides an upfront sum and in return takes a percentage of your daily card sales until the advance plus a fixed fee is fully repaid. This can be useful for businesses with strong card sales but inconsistent cash flow, but the effective cost of capital is often high. Business owners should calculate the annual equivalent cost before accepting.

Rapid Finance also offers access to SBA loans, which are government-backed business loans with longer repayment terms and generally lower rates than short-term non-bank products. SBA loan applications require more documentation and take longer to process.

Rapid Finance operates across the United States and serves businesses in most industries. The company positions itself as a good fit for established businesses with consistent revenue that need financing solutions outside of traditional bank channels, whether because of credit history, speed requirements or the nature of their business.

When evaluating any Rapid Finance product, pay close attention to the annual percentage rate or equivalent effective rate for the full repayment term, and compare this against bank loans, SBA options and other lender offers.