StreetShares is an online lender that offers small business loans of up to $100,000. They offer secured business loans, unsecured business loans, business lines of credit, and contract financing. A veteran-owned and operated lender, StreetShares also seeks to increase funding access to veteran-owned businesses throughout the underwriting and application processes.
It’s worth noting that StreetShares is not a lender, instead they offer a peer-to-peer lending model that connects borrowers with investors who lend them money.
StreetShare advertises their term loan product as being easy to obtain quickly and as having competitive rates. They will deliver your funds in one lump sum.
Maximum loan amount
$2,000 - $100,000
Loan term
3 months - 3 years
Interest rate
7% - 39%
Annual revenue
$25,000
Personal credit score
600
Time in business
6-12 months
When it comes to their line of credit product, StreetShares markets this product as a very flexible option at a low cost.
Maximum loan amount
$5,000 - $100,000
Loan term
3 months - 3 years
Interest rate
6.5% - 39%
Annual revenue
$25,000
Personal credit score
600
Time in business
6-12 months
Regardless of the product you choose, StreetShares won’t work with businesses in the following industries:
You may be eligible to borrow from StreetShares if you meet the following criteria:
Streetshares does not offer funding to businesses:
If you think one of StreetShares’ products may be a good fit for your financial needs, take a look at what their application, post-funding, and repayment process will look like.
Once you submit your StreetShares application online, they will provide you with a pre-approval decision within just a few minutes. StreetShares will do a soft credit pull as part of the application process. If you’re pre-approved, they will begin collecting documents from you to support your application.
When StreetShares reviews your application, you’ll likely need to get on the phone with one of the sales representatives to facilitate the underwriting process. StreetShares sometimes will need to have their credit team join the call with you.
Once StreetShares has gone through the underwriting process, they extend an offer and perform a hard credit pull. If you accept the offer, StreetShares files a blanket UCC lien (for loans over $50,000), and the funds will be in your account as soon as 24 hours.
It’s important to note that the approval process for the StreetShares line of credit is different. At the moment, the StreetShares line of credit product is only available to applicants who get initially approved for at least $20,000 in funding or those who don’t accept a term loan offer from StreetShares.
If you get bad news back from StreetShares, don’t worry—you can re-apply 60 days later.
With the line of credit product, StreetShares sets a minimum draw amount of $5,000 and doesn’t allow more than three credit line draws in 60 days. It’s also important to note that, while the term loan product comes with no other fees than the origination fee, the line of credit will also come with a draw fee of 2.95%.
As for the StreetShares line of credit products, StreetShares will require that you draw from your credit line within 60 days of it being funded. If you don’t, you’ll have to reapply for your line of credit again.
If you accept your term loan offer from StreetShares, your weekly payments will start exactly one week after the loan funds. With a positive repayment history, you can become eligible for a loan or line of credit renewal from StreetShares, but only after six months have passed or after you’ve paid down 60% of a term loan.
One week after you draw from your line of credit, StreetShares will set a fixed repayment schedule that will have weekly repayments, similar to the term loan.
If you want to check on the progress of your loan or line of credit at any point, you’ll have access to an online portal, or you can simply get on a call with your StreetShares representative. StreetShares will also provide you with email statements when you have a payment due.
For customer service, you can call StreetShares at 1-800-560-1435, email them at support@streetshares.com, or send them mail at StreetShares, Inc., 1900 Campus Commons Drive, Suite 200, Reston, VA 20191.
Some customers of StreetShares complained about their website being difficult to navigate. This can be especially frustrating if the customer is already struggling to use the service. For example, in April of 2020, a customer expressed frustration to the Better Business Bureau that StreetShares held onto funds for an entire week after they were available for deposit. Working with StreetShares may require a little extra patience.
Customers have also reported positive feedback about their experiences working with StreetShares, saying it is a convenient option thanks to a fast and easy application process. They’ve also found their customer service representatives to be helpful and friendly. Plus, they love that this platform offers diverse financing products and is veteran-friendly.
Fundera Score
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Funding Circle | Fundation | OnDeck |
Fundera Score 5
| Fundera Score 5
| Fundera Score 5
|
Products OfferedTerm loans | Products OfferedTerm loans; lines of credit | Products OfferedTerm loan; lines of credit |
Interest ratesStarting at 4.99% | Interest rates8% to 30% APR | Interest ratesStarting at 29.9% |
Minimum credit score required620 | Minimum credit score required600; 660 | DisclosureRates based on loans originated in the half-year ending March 31, 2022 |
Minimum credit score required625 | ||
![]() |
Funding Circle |
Fundera Score 5
|
Products OfferedTerm loans |
Interest ratesStarting at 4.99% |
Minimum credit score required620 |
![]() |
Fundation |
Fundera Score 5
|
Products OfferedTerm loans; lines of credit |
Interest rates8% to 30% APR |
Minimum credit score required600; 660 |
![]() |
OnDeck |
Fundera Score 5
|
Products OfferedTerm loan; lines of credit |
Interest ratesStarting at 29.9% |
DisclosureRates based on loans originated in the half-year ending March 31, 2022 |
Minimum credit score required625 |
StreetShares is not in Fundera’s Lender Network. The Fundera team carefully vets all of the lenders in our network, and have determined that StreetShares either doesn’t have the technology to work with Fundera or does not offer a financing product that competes with the other lenders in its product class. We suggest considering another lender in this product class.
See if you qualify for similar products in Fundera’s Lender Network.
Priyanka Prakash is a senior contributing writer at Fundera.
Priyanka specializes in small business finance, credit, law, and insurance, helping businesses owners navigate complicated concepts and decisions. Since earning her law degree from the University of Washington, Priyanka has spent half a decade writing on small business financial and legal concerns. Prior to joining Fundera, Priyanka was managing editor at a small business resource site and in-house counsel at a Y Combinator tech startup.