Swift Capital offers flexible financing options to small businesses that make at least $100,000 per year, have a credit score of at least 550, and have been in business for at least a year. We compiled Swift Capital reviews from our own website plus user reviews from around the web to determine what Swift Capital customers think about the company. We also covered the fees associated with taking out a loan.
Swift Capital Customer Reviews
Customer Service: Bad
Summary of User Reviews
We scoured hundreds of reviews and found that Swift Capital has generally positive ratings. Here’s what we found:
What Swift Capital does well:
Users who gave Swift Capital a positive review believe that the rates are the most reasonable in the market and therefore the loan wasn’t difficult to pay off.
What Swift Capital does not do well:
Users who gave negative reviews said that contrary to its name, Swift Capital’s process isn’t fast. According to them, the process took a long time and required a lot of documentation. However, it should be noted that most users found that funding was fast once all documents were completed.
Most Helpful Positive User Review
“Swift Capital was the best – and most fair deal we found. We shopped for a loan, and were in no hurry so we compared 5 companies. Most have stiff penalties if your business takes a downturn and you can’t make the payments. The Swift contract (although still pricey – it’s hard money) takes the designated percentage, and when that percentage of your sales pays them off, that is the end of the contract. Their percentage was the lowest we found. The loan amount they approved was thoughtful and based on our ability to pay (other sources wanted to fund much more, and payments would be more than we could afford). We worked with Jared Pass. Absolutely recommend this company if you have to go after hard money.”
Most Helpful Negative User Review
“Not “swift” and not easy and they required much, too much documentation. I am looking at a pile that is 1- 1/2″ inches thick of the documentation they asked for over a 4 week time frame. I would NOT recommend them to any other company requesting “funding”. Also, the payback rate increased by 10+percent over the 4 week discourse and finally, I quit. End of story. Unless you want an outside entity to know all and I do mean all of your business and unless you have many hours to spend with sending documentation then I do not suggest you even start the process with Swift.”
— C Moses
Other Swift Capital User Reviews From Around the Web
Here are a few other resources for finding helpful Swift Capital customer reviews. We rated the review sites on a scale from poor to excellent based on how trustworthy and useful the reviews seemed.
*Average rating as of date article was written: Feb. 16, 2017
How We Determined Quality of User Review Websites
- Better Business Bureau is one of the most trustworthy consumer protection watchdogs out there. The site is a great place not only to read reviews, but to file complaints against the company in question.
- Top Ten Reviews starts off with a staff review that evaluates the service on several aspects. At the bottom of the page, commenters can give their own reviews on the service, which affect the overall rating of the service.
- Trustpilot has tons of reviews on the service, however most reviewers were asked by Swift Capital to leave the review. This can positively skew the ratings as a company typically only asks customers who had a positive experience to leave a review.
Swift Capital Pricing & Other Details
|Borrowing amount||$5,000 to $500,000|
|Origination Fee||1% to 2.5%, depending on creditworthiness|
|Price||Average of 17%, depending on loan amount and creditworthiness|
|Payment Length||3 to 12 months|
Swift Capital allows small businesses to borrow anywhere from $5,000 to $500,000, depending on their monthly revenue. The terms and conditions of the loan are customized to fit the client’s monthly revenue and future receivables. To qualify, the applicant must have been in business for over a year, generating an income of at least $100,000 per year. Payments are made weekly and are deducted automatically from the business checking account.