Small business owners often struggle to obtain the capital they need to launch, sustain, or grow their ventures. Traditional lenders can impose rigid requirements, long wait times, and complex application processes, which can create serious roadblocks for entrepreneurs trying to manage their business needs quickly and efficiently.
Alternative financial services like Loot have stepped in to offer flexible credit solutions through a fully automated platform that prioritizes speed, ease, and accessibility. Whether you’re looking to manage cash flow, pay vendors, or build business credit, Loot provides tools to support your financial journey with fast access to funds.
This Loot review explores the available financing options, how to apply, and the pros and cons to help you decide if it’s right for your needs. Specifically, we’ll answer these questions and more:
Loot is an online business funding platform that aims to simplify and accelerate access to capital for small business owners. The company was founded with a mission to offer quick, flexible funding solutions through a fully automated platform. Loot helps businesses across industries manage cash flow and grow by providing an easy way to apply for funding without the red tape often associated with banks.
Loot Financial Services Corp operates primarily through its digital platform, enabling business owners to apply online and receive funding in as little as one day. With minimal requirements and no need for a strong personal credit score, Loot is designed to serve a broader range of businesses that may not qualify through traditional lending sources. Loot is industry-agnostic and can accommodate most businesses.
Loot provides two primary financial products for small businesses: a Business Line of Credit and a Bill Pay service. These tools are designed to help business owners manage money more efficiently, whether by accessing working capital or streamlining vendor payments.
Loot’s Business Line of Credit offers approved customers a revolving credit line that can be drawn from on demand. A line of credit provides flexible access to funds up to a set limit. Once approved, funds become available instantly, and business owners can manage draws and repayments directly from their Loot account.
Funds can be sent to your business bank account as fast as the same day. This product is especially beneficial for handling seasonal cash flow gaps or unexpected expenses, as you only pay for what you use. Interest and fees are only incurred on the amount drawn.
The platform claims its rates are competitive, although it does not publicly list specific interest rate ranges. Notably, early payoff can reduce outstanding fees by 50%, incentivizing quick repayment.
Loot Bill Pay allows businesses to pay vendors, suppliers, or other service providers using their Loot line of credit. This makes it easier to manage cash flow while ensuring operational expenses are met on time. Payments can be initiated directly through the Loot dashboard, giving customers a centralized way to manage outgoing payments and track their financial activity in real time.
Loot has relatively accessible requirements compared to traditional lenders. Here are the minimum qualifications:
Loot’s application process is designed with small business flexibility in mind. It only performs a soft credit pull, which means applying won’t negatively impact your personal or business credit score. No minimum FICO score is required, and the platform specializes in fast funding, with an application process that takes minutes and same-day approval and funding in many cases.
Loot has a high approval rate and can accommodate most businesses. Apply in five minutes, get approved in hours, and receive funds the same day. Your eligibility will be automatically verified during your online application.
A line of credit (LOC) is like having a pool of money you can borrow from when you need it, up to a specific limit. It provides flexible access to funds up to a set limit, ideal for established small businesses needing support for working capital needs. Loot offers an early payoff discount, reducing fees by 50% if the borrowed amount is repaid before the due date. This can lead to significant future savings.
Although Loot does not disclose specific interest rates or fees on its website, it does claim to offer competitive pricing. The dashboard makes it easy for customers to manage their accounts, track draws and repayments, and contact support.
Loot also provides a business loan affiliate program. ISOs and business loan brokers can sign up to offer the company’s financing options to their small business clients.
The application process is simple, and no document uploads are necessary. You can apply in five minutes, get approved in hours, and receive funds the same day.
Follow these steps to apply:
Start by going to getloot.com and clicking the “Apply Now” button. This will take you to a secure online application.
To register your Loot account, you’ll need to provide basic business and contact details. This account will be your portal for managing your application and funding.
Loot uses your business bank account information to assess your financial health. You’ll be asked to securely connect your bank account, which allows Loot to analyze your cash flow in real time.
After submission, Loot reviews your application using automated systems. You could be approved within hours and receive details about your credit line and terms.
Once approved, you can accept the offer and receive funds directly into your account. Your line of credit becomes immediately available for draws or to use with Bill Pay. The customer success specialist is always ready to help customers manage their funds.
After receiving funds, you’ll start making payments based on your draw amount. Loot generally structures its repayment terms on a weekly or daily basis, depending on the loan size and your business’s financial health.
Loot offers industry-leading early payment discounts so you can comfortably use it to cover short-term working capital gaps.
Loot offers small businesses fast access to capital with minimal documentation and no credit score requirement. The soft credit pull during application is helpful for those concerned about their credit profile.
The ability to manage draws, make vendor payments, and track everything in one online dashboard makes it easy for busy entrepreneurs to manage their finances. The early repayment discount and same-day funding also give businesses more control over their financial journey.
Loot doesn’t disclose its interest rates or fees upfront, making it hard for customers to compare offers without applying. The required annual revenue of $200,000 may be a barrier for newer or smaller businesses.
Some negative reviews mention customer support delays or difficulties navigating the account interface. Daily or weekly repayment structures might also be inconvenient for some businesses. Additionally, the company offers low borrowing amounts of $100k, and it only offers a business line of credit.
Pros:
Cons:
Yes, Loot is a legitimate online business funding company. It is accredited by the Better Business Bureau (BBB) and maintains a strong online presence with authentic user reviews on Trustpilot and other review websites. The company clearly discloses its policies and provides a secure, transparent application experience.
Loot has received mostly positive reviews, including a 4.8 out of 5 rating on Trustpilot, based on over 90 customer ratings. These reviews highlight the platform’s ease of use, fast funding times, and helpful support team.
Customers frequently praise Loot’s intuitive interface, fast approvals, and reliable access to money when they need it most. Many business owners appreciate not needing a high credit score and the flexible nature of the credit line. The early payoff discount is also commonly mentioned as a significant benefit. The customer service team at Loot is professional and attentive.
Conversely, negative reviews mention delays in customer support responses, issues with account syncing, or confusion around repayment terms. A few users wished for more transparent communication regarding fees and interest rates.
Loot provides flexible lending criteria, but approval is not guaranteed. If Loot denies your application, it’s likely because you don’t meet the revenue, time in business, or bank account activity criteria.
If you were declined, the denial letter should explain why, suggest ways to improve your application, and tell you when to apply again, if not, or if you need more information, contact Look directly.
Fortunately, if Loot doesn’t work for you, there are many business lenders available. Many offer flexible working capital solutions, such as business lines of credit.
You may also be interested in one of these small business loans:
Loot can be an excellent choice for established small businesses that need fast, flexible funding without jumping through traditional banking hoops. Its fully automated application, instant access to funds, and no credit score requirement make it ideal for entrepreneurs looking for quick capital solutions.
However, businesses just starting out or with less than $200,000 in revenue might not qualify. Additionally, another funder may be a better fit if you prefer monthly payments or need transparent fee information before applying. Always compare options and ensure your funding aligns with your broader financial services and business goals.
Based on the available information, we rate Loot 3.5 out of 5. It’s a solid option for quick access to working capital, but the lack of other financing options and limited funding amounts are concerns.
Disclaimer: The Loot trademark is owned by Loot Financial Services Corp, and its use herein is for reference purposes only, and it does not indicate sponsorship or endorsement from Loot Financial Services Corp.
Fraud Disclosure:
Please be aware that individuals have been fraudulently misrepresenting to business owners (and others) that United Capital Source, Inc. (“UCS”) can assist small businesses in receiving government grants and other forgivable business loans, when in fact those grants or loans do not exist or are not available. These individuals have ulterior motives and are engaging in the unauthorized use of the names, trademarks, domain names, and logos of UCS in an attempt to commit fraud upon unsuspecting small business owners.
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