Get connected to working capital with minimal eligibility requirements.’s rating: 4.22 / 5.0


Having trouble qualifying for a loan to cover your business’s day-to-day expenses? The Loan Exchange might be able to help. This connection service works with lenders that offer business loans for borrowers with all types of credit ratings.


Min. Amount


Max. Amount



Product Name The Loan Exchange Business Loans
Min. Amount $6,000
Max. Amount $250,000
Loan Term 2 to 10 years
Min. Credit Score 500
APR Starting at 19.3%
Requirements 500 credit score, bank account open for at least 90 days, based in eligible state.

Application Criteria

  • Credit score of at least 500
  • Business bank account for at least 90 days
  • Business based in an eligible state


First, do I qualify?

To be eligible for a business loan from one of The Loan Exchange’s partners, you must have a:

  • Credit score of at least 500
  • Business bank account for at least 90 days
  • Business based in an eligible state

Eligible states

Your business must operate out of one of the following states to be eligible for a loan through The Loan Exchange:

  • Alabama
  • Arizona
  • California
  • Delaware
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kentucky
  • Louisiana
  • Maine
  • Mississippi
  • Missouri
  • Nebraska
  • New Hampshire
  • New Mexico
  • Ohio
  • Oregon
  • South Carolina
  • Utah
  • Wisconsin
  • Wyoming

What’s The Loan Exchange?

The Loan Exchange is an online connection service that specializes in fast business loans for borrowers who’ve had trouble qualifying elsewhere. It currently works with three lenders that offer working capital for unsecured business term loans from $6,000 to $250,000. Rates are Starting at 19.3%, and include an origination fee of 5% to 15% of the loan amount. Businesses typically have between 2 and 10 years to pay off their loan.

You can use your loan for any legitimate expense, including bringing on new staff, general operation costs, buying equipment and refinancing business debt. The application is simple and only takes a few minutes to complete online or over the phone if you have all the information you need on hand. And if you apply early enough in the day, you could get your funds as soon as that evening.

What makes The Loan Exchange’s business loans unique?

With minimal requirements and documentation needed, The Loan Exchange offers one of the simplest business loan applications out there. There’s no collateral required, so you don’t have to put any of your business’s assets on the line and you don’t need excellent credit to qualify. The speed is also worth repeating: It claims that you can get your funds wired to your business’s account as soon as two hours after getting approved.

What are the benefits of using The Loan Exchange?

  • All credit types welcome. You can still potentially qualify for a business loan through The Loan Exchange even if you have poor credit.
  • Fast turnaround. Your business can get access to its funds as soon as two hours after approval.
  • Friendly to young businesses. While you might have trouble qualifying as a startup, you only need to have a business bank account for 90 days to meet the minimum requirements.

What to watch out for

  • Not great for good credit. With rates starting at 19.3%, you might be able to qualify for a more competitive business loan if you have a high credit score or a few years in business under your belt.
  • High origination fees. The Loan Exchange’s partners charge origination fees starting at 5% — where many business lenders stop.
  • Limited state availability. The Loan Exchange’s partners only operate in 23 states.

What do other customers have to say about The Loan Exchange?

Nothing that we could find. It doesn’t have a Better Business Bureau page and its Trustpilot page doesn’t have any reviews yet. It also doesn’t have any pages on Yelp or mentions on online forums like Reddit. While this isn’t necessarily a good sign, it’s not necessarily a red flag either.

That’s because a debt relief service called The Student Loan Exchange has recently gotten some media attention after it was part of a recent crackdown by the Federal Trade Commission on debt settlement providers. Any online reviews of The Loan Exchange would be buried under articles and reviews of The Student Loan Exchange — if they exist.

The Loan Exchange is also still clearly building its network, and it isn’t as established as some other connection services that have been around for longer. It’s not uncommon for lenders with such a short reach to lack online reviews.

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