Most common questions
StreetShares loan and line of credit details
StreetShares Contract Financing
Savers, Investors, and small business supporters
What is StreetShares?
StreetShares is America’s small business funding community. As a fast-growing financial community of like-minded members, we can offer better rates and returns.
Borrower Members can apply for fast, affordable loans funded by investors and potential customers who can support their businesses.
Investor Members can earn solid returns and support businesses they believe in.
Why does StreetShares like veterans so much?
Our founders, and many members of our team, are military Veterans. We know that Veterans have the skills to be great business owners and entrepreneurs, and we want to help them succeed. Veteran business owners and their supporters get the red carpet treatment at StreetShares.
Do i have to be affiliated with the military or a veteran to join StreetShares?
No. StreetShares is a community of Americans dedicated to small business and entrepreneurship. The majority of our members have a military affiliation, but not all. Everyone is welcome.
Why do business owners prefer StreetShares?
Speed. We’re much faster than a bank, and our community of Members funds your business. You can apply in minutes, qualify in seconds, and get funded in just a couple days.
Lower rates. We’re more affordable than other online lenders, and we’re open and transparent with costs and rates.
No hidden fees. We don’t charge an application fee or prepayment penalty. Our loans and lines of credit are designed to help you succeed, not extract value from your business.
Gain customers. Many of our Investor Members are individuals who love to support local businesses. StreetShares gives them an opportunity to invest in you. They may also become your customers.
What are the basic requirements to qualify for a loan?
- U.S. Citizen
- In business for at least 1 year (sometimes 6 months)
- Earning a minimum amount of revenue
- A business guarantor with reasonable credit
What loans and lines of credit are available?
We offer 3-36 month term loans and lines of credit from $2,000 to $100,000. Keep in mind, we may approve a loan for an amount lower than the full amount requested.
What is the maximum loan amount i can be approved for?
Our maximum loan amount is $100,000.
What is the application process?
Applying online is simple and can take less than 10 minutes. If you’d rather have a real person walk you through the process, give us a call at (800) 560-1435.
Is there an application fee?
What info do i need to apply?
Pre-approval takes just minutes. We’ll just need to know a few key things about your business - things like revenue and when you started the company.
Before you accept your loan, we'll need to confirm some more information about your business. Before you accept your loan, we’ll need the following:
- Social Security Number (SSN) of business owner
- Employer Identification Number (EIN)
- Total outstanding business debts
- 6 most recent business bank statements
- Most recent personal and business federal tax returns
- In some cases, financial statements, such as P&L and balance sheet may be required
Ready to apply for a loan?
What if I want to save, invest in, or support these businesses?
StreetShares is awesome. How do I refer businesses or other members?
Sign in and click the “Get Rewards” tab. Enter the names of some of your favorite businesses or individuals and we’ll reach out to them with info about StreetShares.
What is the Patriot Express® Line of Credit?
This just might be the best small business line of credit in America. It costs nothing to apply. Line of credit amounts range from $5,000 to $100,000. Once approved, simply sign in and request funds from your line. After an amount is drawn, repayment for that amount works just like a term loan. There is no fee for undrawn line amounts and absolutely no prepayment penalty.
How does repayment work?
We deduct a fixed, weekly payment directly from your verified bank account on file.
Is there a prepayment penalty?
Nope. We don't play games and hide fees like some of the other guys. We're on your side and won't ever charge you for paying your loan early.
What fees do you charge to borrower members?
If a Borrower Member accepts a funded loan, StreetShares will charge a pre-disclosed one-time origination fee of either 3.95% or 4.95%. Various factors will influence this fee, including term length, risk, and loan amount. During repayment of a loan, if a Borrower Member's payment fails for any reason, a failed payment fee of $10 will be assessed. Borrower Members are subject to an additional $10 late charge for any payment not received within seven (7) days of the due date of such payment.
How do you protect my personal and financial info?
What is DocuSign?
DocuSign is a technology company that allows us to provide documents and acquire signatures digitally. This speeds up manual processes and allows us to provide a much smoother experience for you as a customer. DocuSign is trusted by more than 50 million users in 188 countries worldwide, including 10 of the top 15 financial services firms in the U.S. You can learn more about DocuSign here.
What is QuickBooks?
QuickBooks is online accounting software used by many small businesses. If your business uses QuickBooks, we can use it to quickly review your financial statements and help speed up your application process. You can learn more about QuickBooks here.
Have additional questions?
Give us a call at (800) 560-1435 to talk to a real person.
What is the process for validating a bank account?
Investor Members must have a validated bank account in order to invest. Borrower Members must have a validated bank account in order to accept a loan.
Bank accounts are validated by initiating two small transactions (under $1) from a member applicant's bank account. The applicant then signs in and provides StreetShares with the amount of the two transactions. This verifies that the applicant controls the bank account.
How does StreetShares fund loans?
Only loan requests that meet our underwriting standards are approved for funding by StreetShares Investor Members. Funding success depends on the preferences of Investor Members, who act independently based on their own requirements, appetite for risk, and the supply and demand for available loan requests. StreetShares does not provide any kind of investment advice or guidance to investors regarding where or how to invest on the StreetShares marketplace.
StreetShares itself co-invests alongside retail investors at a rate we have determined to be appropriate based on our underwriting. Investing occurs on a first-come, first-served basis until a loan request is funded to the full approved loan amount.
If the borrower chooses to accept the fully-funded loan offer, the investments are combined into a single commercial loan issued by StreetShares. Documents are signed electronically on the StreetShares marketplace and the loan repayments are automatically deducted weekly from the borrowers' bank account.
What are the requirements for loans to repeat borrowers?
To be eligible for a second loan with StreetShares, a business must meet one of the following conditions:
- At least six months of loan repayments without a single failed payment
- Repaid at least 60% of the original loan principal
In addition, StreetShares will fully review and evaluate the business borrower anew, taking into account both our direct observation of the borrower’s repayment habits and the impact of the existing loan on the business finances.
What is contract financing?
Contract financing is an advancement of funds to your business based on an invoice or payments on a contract. With contract financing in place there is no need to worry about when your invoice will be paid; funds are available to you once the invoice has been validated. No more waiting on net 30, 45, 60 or longer to get paid. StreetShares advances you up to 90% of the invoice amount then receives payment from the contracting office.
How does contract financing work with StreetShares?
Once you have been awarded a contract let StreetShares take care of the rest. Send or upload a copy of the contract, and we’ll handle the processing and paperwork. When you submit an invoice, we’ll verify it’s valid, and then advance you the funds. When the government or commercial client pays the invoice, which could be many days or even weeks later, we’ll send the remaining balance, less any interest or fees.
Can I have both a contract financing arrangement and a line of credit?
Yes, most customers take advantage of our line of credit or term loan alongside the contract financing. They typically use a line of credit or term loan to get started on their contract (like hiring staff or buying equipment), then rely on contract financing for consistent cash flow between invoices.
How does contract financing impact my credit?
It doesn’t. StreetShares performs a soft credit check initially as part of the application process, which does not impact your credit score. Because contract financing isn’t a loan, we don’t make hard inquiries into your credit. Our Term Loan and Line of credit products do follow traditional credit screening processes, however.
Do I have to finance every invoice?
No, at StreetShares we offer flexibility to our members. You can finance all or part of an invoice or none at all. StreetShares offers solutions that fit you and your business, rather than giving you a one-size fits all product. It is completely up to you and your business needs.
What is the difference between factoring and contract financing?
Factoring, accounts receivable financing, invoice financing and contract financing are all terms used in the industry in which a business sells its invoices or receivables to a third-party. However, StreetShares’ contract financing solution is comprehensive, covering all of your financing needs, from Term Loans and Lines of Credit to get you started, providing financial capability letters to help you get the contract, and financing your receivables. ‘Factoring’ companies traditionally just worry about your invoices or receivables and leave you to figure out your mobilization loans and other funding needs.
What type of contracts can you work with?
We can finance Federal, State, and large commercial contracts (whether prime or sub-contractors). Give us a call (800) 560-1435 or e-mail us at firstname.lastname@example.org today to find out if your bid/contract is covered.
How much does it cost?
Pricing from Streetshares is always transparent and clear to our members, with no hidden fees. With rates as low as 1 percent of the outstanding invoice and no cost for set up we are leading the industry with fair rates that help your businesses cash flow. Call us at (800) 560-1435 or e-mail us at email@example.com and we’d be glad to tell you more.
How long will it take to provide funding?
We can provide our line of credit or term loan mobilization funding in 2-5 days. Completed contract financing arrangements can range from a few days to several weeks. We’re doing everything we can to streamline Contract Financing for our members, from our online application and streamlined processes, to our relationships with contracting offices nationwide.
Why purchase veteran business bonds from StreetShares?
As a StreetShares Member, you can earn solid returns on your money while supporting businesses you believe in by purchasing Veteran Business Bonds.
Who can purchase veteran business bonds from StreetShares?
Veteran Business Bonds are open to all Americans who support veteran-owned small business. You do not have to be affiliated with the military or a veteran.
What does StreetShares do with the money I use to purchase veteran business bonds?
Your money goes to fund great American small businesses who fund with StreetShares. It helps them grow and succeed as entrepreneurs.
How much can I invest on StreetShares?
As a StreetShares Member, you can purchase up to $500,000 in Veteran Business Bonds. You can increase this limit by referring other Members (business owner or investor) to the community. For every business you invite that accepts a loan from StreetShares, $250 will be invested into your account. For every person (business owner or investor) you invite who becomes a Member, your investment limit will increase by $25.
Is there a minimum veteran business bonds purchase?
You may purchase Veteran Business Bonds in increments of $25, starting at $25.
How much interest do I earn from purchasing veteran business bonds?
Interest is fixed for the term of the bond and is currently 5%. Interest is subject to change with each new offering.
When do I earn the interest?
You begin earning interest within a couple of days of your Veteran Business Bonds purchase, as soon as your funds clear the banking system.
When can I access my money?
With Veteran Business Bonds, you can access your money at any time. You can keep your money invested until the end of the bond period or you can access your money prior to the bond expiration for a 1% fee. We will never charge you more than the interest you’ve accumulated up to that point. Should you withdraw more than $50,000 it may take up to 30 days to process. Please see the Note Investment Agreement for more information.
Is my veteran business bond purchase subject to risk?
Yes. StreetShares worked with the Securities and Exchange Commission (“SEC”) for a Regulation A offering of Veteran Business Bonds (“StreetShares Notes”). The only offering to sell securities is found in the Company’s Form 1-A and amendments and supplements thereto which can be obtained from the SEC EDGAR filing website. No decision to invest in StreetShares Notes should be made without reading the Offering Statement. Neither the SEC nor any state securities regulator has passed upon or endorsed the merits of any investment decision in StreetShares.
Is my veteran business bond purchase FDIC insured?
StreetShares is a funding community, not a bank. FDIC insurance only applies to banks. Please review our Form 1-A for more information on investing with StreetShares.
Is my information secure?
StreetShares takes security very seriously. We use industry standards and best practices to keep your personal and financial data secure.
How do you protect my personal and financial data?
How can I protect my personal information?
There are a number of steps you can take to ensure your data stays secure:
- Do not share your StreetShares sign in credentials with anyone
- Choose a password that includes at least one number, one special character and a mix of lowercase and uppercase letters. Passwords should be at least 8 characters long
- Do not use the same password for StreetShares as you use for email or other sites
- Do not use personal information such as birthday, family names or pet names in your password
- Do not put sensitive information such as Social Security numbers, credit card numbers and passwords in an email
What internet browser should I use to visit StreetShares?
StreetShares runs best on the latest versions of the following internet browsers. Click on the names below to download the latest version:
Who can invest on StreetShares Pro?
By law, StreetShares Pro investments are available only to qualified Investor Members who have established a StreetShares account. A StreetShares Pro Member must be:
- A U.S. citizen or permanent resident AND
- An "accredited investor" as defined by the Securities and Exchange Commission (SEC)
One may be "accredited" if:
- Individual income is $200,000 or more (or $300,000 with a spouse) and has been at this level for at least the past two years, and reasonably expected to be so this year OR
- Have a net worth of $1,000,000 or more (excluding the value of one's primary residence), OR
- Meet other criteria listed on the official SEC definition of accredited investor here
In addition, no Investor Member may invest more than 10% of their individual net worth, exclusive of home, home furnishings, and automobile. Please visit sec.gov or investor.gov for more information on qualifying as an "accredited investor".
How do I apply for StreetShares Pro membership?
You can fill out an application in just a few minutes at this link.