Bond Street
Bond Street offers a term loan with bi-monthly repayment, structured similarly to a traditional bank loan product.
Excellent 7.4/10
1 review 

Bond Street is a great fit for established, growing businesses that have upward-leaning revenues and a path towards profitability. If you are looking for a lower-cost small business loan online, Bond Street is a great place to start.

NO AFFECT TO YOUR CREDIT SCORE

What DOES

BOND sTREET

OFFER?

Bond Street offers a term loan with bi-monthly repayment

What Do I Need

to Qualify?

  • Annual Revenue: $200,000

  • Credit Score: 600+

  • Business Age: 2 Years +

  • Profitability: No but it helps

 

HOW DO I APPLY?

Once Bond Street is able to gather the information they need from the application and gets all of the documents listed, you’ll be ready for underwriting. Their entire underwriting process just takes a couple days at maximum. However, the underwriting process timeline can fluctuate if there ends up being any missing information Bond Street still needs from you.

Apply Here with Bond Street

Bond Street Financing at a Glance

If you can get an offer from Bond Street, it will be hard to beat—it's one of the most affordable online business loans. But Bond Street can get tougher to qualify for if you have any blemishes on your business or personal credit history.

loan amount

$50,000 - $1 million

Loan Term

1 to 3 years  

LOAN rates

6% - 23%

speed

Bond Street can fund a complete loan application in under a week. The time to funding is heavily dependent on how fast the borrower moves. 

Bond Street cannot work with the Business types below:

  • In Nevada, South Dakota, North Dakota, Vermont, Tennessee, and Kansas

  • In some restricted industries including but are not limited to government related entities, natural resources, motor vehicle dealerships, and hotels/casinos.

  • That operate out of a home address

Other Important Eligibility Factors for Bond Street:

  • Bond Street requires you have a business bank account.

  • Bond Street cannot work with businesses that have a tax lien greater than $1,000.

  • Bond Street requires any owner of a business that owns or controls at least 51% of the business to be represented before they can fund a loan.

  • Bond Street will check your business credit score but there is no minimum score required.

  • Bond Street requires 7 years to have passed since discharge if you’ve ever filed for personal bankruptcy.

You’ve Reviewed Bond Street.

Are You Ready to Apply?

Most Customers who qualified had 

Annual Revenue
$200,000
Time in Business
24 Months
Credit Score
600+ 

What your business will need to apply? 

  • 6 months business bank statements

  • Your balance sheet for the past year

  • Certificate of Good Standing

  • 2 most recent business tax returns

  • 3 years of your profit & loss statements

Find out how much funding you qualify for with Bond Street

What you should know about Bond Street

  • Bond Street can fund a complete loan application in under a week. The time to funding is heavily dependent on how fast the borrower moves. On average, Bond Street funds applications in 7 days.

  • Bond Street does not have a prepayment penalty.

  • Bond Street will pull your credit, but it will only be a soft pull. Bond Street pulls personal credit from Equifax and business credit from Experian. Learn more about credit pulls here.

  • Bond Street does not report to the business credit bureaus.

  • Bond Street has a bi-monthly remittance schedule.

  • Bond Street does not have any additional fees outside of the origination fee.

  • Bond Street will file a blanket UCC lien on your business if (and only if) you receive funding from them.

  • Bond Street only reports to the personal credit bureaus in case of a default.

  • Bond Street can take 2nd position to another lender in certain situations.

Want to know if you Qualify for

Bond Street?

Bond Street Reviews: The Underwriting Process

Once Bond Street is able to gather the information they need from the application and gets all of the documents listed above, you’ll be ready for underwriting. Their entire underwriting process just takes a couple days at maximum. However, the underwriting process timeline can fluctuate if there ends up being any mission information Bond Street still needs from you.

After submitting your application, be prepared to receive a phone call—within 2 days—from an underwriter at Bond Street. They might have to inquire about additional information, as their application gives you the option to skip a few steps if you want. For example, you can skip sending in your balance sheet, income statements, and cash flow statements with the online application.

But if you chose to skip these steps on the application the time will come when you’ll have to send in the information in order for Bond Street to complete their underwriting. If you choose to skip these steps, we’d recommend preparing the financials and having them ready for when the underwriter calls.

So when the call happens, what can you expect?

It takes about 20 - 30 minutes and you’ll spend most of the time telling them more about your business, your operations, your business strategy, and helping complete any missing information.

If you want to prepare for the call, have solid answers for the following questions:

  1. Where is your business today?

  2. How do you plan on growing your company?

  3. If funded, how do you plan on using the money?

The nice thing about Bond Street’s application process is that they ask so many questions in the application that you can easily discover if there are issues before you even get on the phone with the underwriter.

For example, if your business doesn’t bring in enough revenue to meet their minimum requirement of $200,000, they’ll save you time by not making you complete extraneous information. Same goes for many of the “minimum requirements” above.

After your call with the underwriter and all the necessary information is in hand, Bond Street focuses on projecting out your business. From there, they’re able to decide on approval and pricing, and send your application around for one more internal review.

If you get a “Yes!” from Bond Street, all you need to do is sign the paperwork and you should receive your funds in 24 hours. Yep, it really happens that fast.

Bond Street Reviews: Post-Funding

If you decide to take a loan with Bond Street, your payments will be debited twice a month on the 1st and 16th of every month. Your payments will not start debiting until a full payment cycle has passed from whenever you took out the loan. (For example, if you were funded on July 9th, your first payment would be August 1st.)

If you ever want to check on the progress of your loan, Bond Street has set up a convenient portal that you can log into anytime for updates. They do not, however, provide statements.

You can also be eligible for a loan renewal at Bond Street, but that is usually not something considered until 3 to 6 months after funding (and it will most likely be on the later end).

Bond Street Reviews: Why Work With Them?

 

Bond Street offers business owners affordable financing that can be applied to quickly and easily online—it really is the best of both worlds.

Bond Street is a great fit for established, growing businesses that have upward-leaning revenues and a path towards profitability. If you are looking for a lower-cost small business loan online, Bond Street is a great place to start.

Bond Street is also relatively flexible with intended use of funds. As long as the funds are being used for commercial purposes, you can work with Bond Street.

They’re great for refinancing more expensive debt or any other working capital needs you may have.

Bond Street Reviews: When Are They Not a Fit?

If you can get an offer from Bond Street, it will be hard to beat—it's one of the most affordable online business loans.

But Bond Street can get tougher to qualify for if you have any blemishes on your business or personal credit history—if this sounds like you, you might be better starting with a different lender.

Bond Street can move quickly, but not as quickly as short-term lenders. So if fast cash is what you’re looking for, you might want to start at a shorter-term lender (just be prepared to pay more).

As well, Bond Street doesn’t report to the personal credit bureaus unless you default, so it won’t help you get your credit score up.

Finally, if you can qualify for a bank product (including an SBA loan), these will be cheaper than a Bond Street loan and you should take it.

The information contained on this page was sourced from fundera.com. We are not in anyway affiliated with fundera.com.This page is for informational purposes only. 

READY? Its Free - Prequalify without affecting your credit score 

11721 Whittier Blvd, 

Whitter, CA 90601

Ste 212

© 2016 by

LendingMatchup.com